Stanley Druckenmiller (Trades, Portfolio) is a former lead portfolio manager for George Soros (Trades, Portfolio)’ Quantum Fund and ran his own hedge fund, Duquesne Capital Management, until converting it into a family office in 2010.
In the first quarter, he switched out 49% of his portfolio, buying 14 new stocks and selling out 21 for a total of 28 positions at quarter-end.
In April the investor told Bloomberg that the current financial environment reminded him of 2004 primarily: “I just knew that we were running an unnecessarily loose monetary policy, and it may have consequences down the road, and that’s kind of how I feel now. I think we’re taking a terrible risk reward in terms of zero rates. Everyone keeps asking me, well, how is this going to manifest itself? I don’t even know whether it is going to manifest itself,” he said. Read the full interview here.
Druckenmiller’s top five new long positions of the first quarter were: LyondellBasell Industries NV (LYB, Financial), EOG Resources Inc. (EOG, Financial), Teva Pharmaceutical Industries Ltd. (TEVA, Financial), Pioneer Natural Resources Co. (PXD, Financial) and Noble Energy (NBL, Financial).
LyondellBasell Industries NV (LYB, Financial)
Druckenmiller purchased 716,950 shraes of LyondellBasell Industries NV, representing 8% of the portfolio. The company’s stock price average was $84 for the quarter.
LyondellBasell Industries NV is a public company with limited liability incorporated in Netherlands under Dutch law on Oct. 15, 2009. LyondellBasell Industries NV has a market cap of $48.7 billion; its shares were traded at around $102.90 with a P/E ratio of 11.90 and P/S ratio of 1.20. The dividend yield of LyondellBasell Industries NV stocks is 2.70%.
EOG Resources Inc. (EOG, Financial)
Druckenmiller purchased 561,600 shares of EOG Resources, representing 6.54% of the portfolio. The stocks’ first quarter average price was $90 per share.
EOG Resources Inc. is a Delaware corporation organized in 1985. EOG Resources Inc. has a market cap of $49.55 billion; its shares were traded at around $90.26 with a P/E ratio of 23.80 and P/S ratio of 3.0. The dividend yield of EOG Resources Inc. stocks is 0.7%. EOG Resources Inc. had an annual average earnings growth of 12.9% over the past 10 years. GuruFocus rated EOG Resources Inc. the business predictability rank of 3.5-star.
Teva Pharmaceutical Industries Ltd. (TEVA, Financial)
Druckenmiller purchased 790,500 shares of Teva Pharmaceuticals, representing 6.26% of the portfolio. The stock’s first quarter average price was $58 per share.
Teva Pharmaceutical Industries Ltd. was incorporated in Israel on February 13, 1944. Teva Pharmaceutical Industries Ltd has a market cap of $51.77 billion; its shares were traded at around $61.05 with a P/E ratio of 19.0 and P/S ratio of 2.60. The dividend yield of Teva Pharmaceutical Industries Ltd. stocks is 2.2%. Teva Pharmaceutical Industries Ltd. had an annual average earnings growth of 14.6% over the past 10 years. GuruFocus rated Teva Pharmaceutical Industries Ltd. the business predictability rank of 3-star.
Pioneer Natural Resources Co. (PXD, Financial)
Druckenmiller purchased 224,500 shares of Pioneer Natural Resources, representing 4.66% of the portfolio. The stock’s first quarter price was $154 per share.
Pioneer Natural Resources Co. is a Delaware corporation formed in 1997. Pioneer Natural Resources Co. has a market cap of $23.12 billion; its shares were traded at around $154.87 with a P/E ratio of 31.0 and P/S ratio of 5.70. The dividend yield of Pioneer Natural Resources Co. stocks is 0.10%. Pioneer Natural Resources Co. had an annual average earnings growth of 7.90% over the past 10 years. GuruFocus rated Pioneer Natural Resources Co. the business predictability rank of 2-star.
Noble Energy Inc. (NBL, Financial)
Druckenmiller purchased 621,300 shares of Noble Energy, representing 3.86% of the portfolio. The stock’s first quarter price on average was $47 per share.
Noble Energy Inc. is a Delaware corporation, incorporated in 1969. Noble Energy Inc. has a market cap of $16.95 billion; its shares were traded at around $43.80 with a P/E ratio of 16.40 and P/S ratio of 3.60. The dividend yield of Noble Energy Inc. stocks is 1.60%. Noble Energy Inc. had an annual average earnings growth of 6.80% over the past 10 years.
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