Highlighting Major Changes with a Focus on Microsoft Corp's Significant Reduction
Stanley Druckenmiller (Trades, Portfolio), a renowned figure in the investment world, recently disclosed his portfolio updates for the second quarter of 2024 through the latest 13F filing. Born in 1953 in Pittsburgh, Pennsylvania, Druckenmiller is the President, CEO, and Chairman of Duquesne Capital, which he founded in 1981. After managing money for George Soros (Trades, Portfolio) as the lead portfolio manager for the Quantum Fund, he adopted a similar investment philosophy. Druckenmiller's strategy involves a top-down approach, skillfully balancing long and short positions across various asset classes including stocks, bonds, currencies, and futures.
Summary of New Buys
During the second quarter, Druckenmiller made significant additions to his portfolio, introducing 18 new stocks. Noteworthy among them are:
- Mid-America Apartment Communities Inc (MAA, Financial), acquiring 644,190 shares, which now constitute 3.15% of the portfolio, valued at $91.87 million.
- Philip Morris International Inc (PM, Financial), with 889,355 shares, making up about 3.09% of the portfolio, valued at $90.12 million.
- Camden Property Trust (CPT, Financial), adding 577,915 shares, representing 2.16% of the portfolio, with a total value of $63.06 million.
Key Position Increases
Druckenmiller also strategically increased his stakes in several companies, including:
- Coherent Corp (COHR, Financial), where he added 1,064,470 shares, bringing his total to 3,589,540 shares. This adjustment increased his share count by 42.16%, impacting 2.65% of his current portfolio, with a total value of $260.1 million.
- Kinder Morgan Inc (KMI, Financial), with an additional 2,872,665 shares, bringing his total to 6,753,165 shares. This represents a 74.03% increase in share count, valued at $134.19 million.
Summary of Sold Out Positions
In a significant portfolio reshuffle, Druckenmiller exited 27 positions in Q2 2024, including:
- GE Aerospace (GE, Financial), selling all 853,095 shares, which had a -3.41% impact on the portfolio.
- Vertiv Holdings Co (VRT, Financial), liquidating all 998,510 shares, impacting the portfolio by -1.86%.
Key Position Reductions
Druckenmiller's portfolio adjustments included substantial reductions in several holdings:
- Microsoft Corp (MSFT, Financial), where he cut 711,780 shares, resulting in a -63.99% decrease in shares and a -6.83% impact on the portfolio. The stock traded at an average price of $422.32 during the quarter and has seen a modest return of 0.25% over the past three months and 11.26% year-to-date.
- Coupang Inc (CPNG, Financial), reducing his stake by 11,488,710 shares, which led to a -51.15% reduction in shares and a -4.66% impact on the portfolio. The stock's average trading price was $21.68 during the quarter, with a -0.45% return over the past three months and a significant 36.81% increase year-to-date.
Portfolio Overview
As of the second quarter of 2024, Stanley Druckenmiller (Trades, Portfolio)'s investment portfolio encompasses 64 stocks. His top holdings include 8.92% in Coherent Corp (COHR, Financial), 7.88% in Coupang Inc (CPNG), 7.74% in Vistra Corp (VST, Financial), 7.33% in Natera Inc (NTRA, Financial), and 6.21% in Seagate Technology Holdings PLC (STX, Financial). The portfolio is well-diversified across all 11 industries, with significant allocations in Technology, Consumer Cyclical, Healthcare, and more.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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