Duquesne Family Office CEO Stanley Druckenmiller (Trades, Portfolio) disclosed on Thursday that he purchased 16 positions in the fourth quarter, placing his number of stocks owned at 30.
The macro investor’s top new purchases were mainly in oil and gas and banks. Druckenmiller purchased: EOG Resources Inc. (EOG, Financial), Wells Fargo & Co. (WFC, Financial), Bank of America Corp. (BAC, Financial), Devon Energy Corp. (DVN, Financial) and Apache Corp. (APA, Financial).
Druckenmiller particularly favors the tech sector, where he has invested 54.7% of the stocks in the portfolio, although he told CNBC on Dec. 13 that he is shorting some names in the sector. He also said in the interview that he likes Tencent (HKSE:00700, Financial) and Amazon (AMZN, Financial).
While his stocks had served him well, Druckenmiller said he had “really really mistraded macro,” and expected to have his worst year in currencies ever. “I have to say it’s the worst year I’ve ever had relative to the set of opportunities out there, I can ever recall. 1997 was close,” he said.
The portfolio’s value stood at $1.98 billion at fourth-quarter end.
Before opening his family office, Druckenmiller worked with George Soros (Trades, Portfolio) until 2000 and contributed to his famous $10 billion short of the British pound in 1992.
EOG Resources Inc. (EOG, Financial)
Druckenmiller purchased 524,700 shares of EOG Resources, which had a fourth quarter average price of $101. The holding represented 2.85% of the portfolio.
EOG Resources Inc. has a market cap of $62.27 billion; its shares were traded around $107.69 with a P/E ratio of 5384.50 and P/S ratio of 6.05. The trailing 12-month dividend yield of EOG Resources Inc. stocks is 0.63%. The forward dividend yield of EOG Resources Inc. stocks is 0.63%.
Wells Fargo & Co. (WFC, Financial)
Druckenmiller purchased 850,000 shares of Wells Fargo & Co., which had a fourth quarter average price of $56 per share. The holding represented 2.6% of the portfolio.
Wells Fargo & Co. has a market cap of $293.59 billion; its shares were traded around $60.02 with a P/E ratio of 14.72 and P/S ratio of 3.46. The trailing 12-month dividend yield of Wells Fargo & Co. stocks is 2.58%. The forward dividend yield of Wells Fargo & Co. stocks is 2.62%. Wells Fargo & Co. had an annual average earnings growth of 9.90% over the past 10 years. GuruFocus rated Wells Fargo & Co. the business predictability rank of 2-star.
Bank of America Corp. (BAC, Financial)
Druckenmiller purchased 1,717,500 shares of Bank of America, which had a fourth-quarter average price of $28 per share. The holding represented 2.56% of the portfolio.
Bank of America Corp. has a market cap of $331.35 billion; its shares were traded around $32.21 with a P/E ratio of 20.78 and P/S ratio of 4.03. The trailing 12-month dividend yield of Bank of America Corp. stocks is 1.20%. The forward dividend yield of Bank Of America Corporation stocks is 1.50%. Bank of America Corp. had an annual average earnings growth of 48.5% over the past five years.
Devon Energy Corp. (DVN, Financial)
Druckenmiller purchased 1,009,800 shares of Devon Energy Corp., which had an average share price of $38. The holding represented 2.11% of the portfolio.
Devon Energy Corp. has a market cap of $18.26 billion; its shares were traded around $34.74 with a P/E ratio of 11.58 and P/S ratio of 1.37. The trailing 12-month dividend yield of Devon Energy Corp. stocks is 0.69%. The forward dividend yield of Devon Energy Corp. stocks is 0.67%.
Druckenmiller purchased 903,000 shares of Apache Corp., which had an average price of $42 per share. The holding represented 1.92% of the portfolio.
Apache Corp. has a market cap of $14.51 billion; its shares were traded around $38.10 with a P/E ratio of 22.02 and P/S ratio of 2.32. The trailing 12-month dividend yield of Apache Corp. stocks is 2.62%. The forward dividend yield of Apache Corp. stocks is 2.62%.
See Stanley Druckenmiller (Trades, Portfolio)’s portfolio here.
