This article presents an analysis of the recent changes made to Duquesne Family Office’s 13F stock portfolio. The portfolio, managed by Stanley Druckenmiller, experienced a significant increase of approximately 25% this quarter, reaching a value of $2.87 billion. While the portfolio contains around 55 positions, this article focuses on the 30 significantly large holdings, which make up approximately 53% of the portfolio.
The five largest stakes in the portfolio are Nvidia, Coupang, Microsoft, Eli Lilly, and Lamb Weston Holdings. If you’re interested in learning more about their investment philosophy, you can read our previous articles in the series: Tracking Stanley Druckenmiller’s Duquesne Portfolio and Tracking Stanley Druckenmiller’s Duquesne Family Office Portfolio for Q1 2023.
Stanley Druckenmiller established the Duquesne Family Office in Q4 2011 after closing his hedge fund, Duquesne Capital, in 2010. Prior to that, he managed George Soros’s Quantum Fund from 1988 to 2000. Druckenmiller follows a trend-following trading style similar to George Soros. To learn more about his trading style, check out the book Trend Following: Learn to Make Millions in Up or Down Markets.
General Electric (GE) is a new position in the portfolio, accounting for 2.81% of the total. The stock was purchased this quarter at prices ranging from $94 to $110 and is currently trading around $114.
Builders FirstSource (BLDR), Cameco (CCJ), Cadence Design (CDNS), DoorDash (DASH), PTC Inc. (PTC), Oracle (ORCL), Tempur Sealy Intl. (TPX), and Wesco International (WSC) are all new stakes in the portfolio, each representing less than 1.5% of the total.
Alphabet (GOOG), Freeport-McMoRan (FCX), Advanced Micro Devices (AMD), Barrick Gold (GOLD), and Palo Alto Networks (PANW) are among the stakes that were sold this quarter.
The positions in Nvidia Corp. (NVDA), Coupang Inc. (CPNG), Microsoft Corp. (MSFT), Lamb Weston Holdings (LW), T-Mobile US (TMUS) & rights, Teck Resources (TECK), Option Care Health (OPCH), and News Corp. (NWS) saw increases in their holdings.
Eli Lilly (LLY), Amazon.com (AMZN), IQVIA Holdings (IQV), Taiwan Semi (TSM), KBR (KBR), Vertiv Holdings (VRT), and Meta Platforms (META) are among the stakes that saw reductions this quarter.
Natera, Inc. (NTRA) and Chevron (CVX) positions remained unchanged during this quarter.
For a detailed overview of Stanley Druckenmiller’s Duquesne Family Office 13F stock portfolio as of Q2 2023, please refer to the spreadsheet below: