In November, seeking to replace money it had lost on trades and through redemptions, the firm opened to new investments. Born in Philadelphia, son of a DuPont labor relations negotiator. Chevron Inc. (CVX), Snap Inc. (SNAP), WillScot Mobile Mini (WSC), and Ingersoll Rand (IR): These are the new positions this quarter. Druckenmiller began his financial career in 1977 as a management trainee at Pittsburgh National Bank. Job in Allentown - Lehigh County - PA Pennsylvania - USA , 18101. Founds Duquesne Capital Management with $1 million in separate accounts. Investment Banking Finance Lending & Brokerage Finance Venture Capital & Private Equity. He closed the fund in August 2010. Easily embed the chart on your blog or website it will always update [12] In November 2020, he stated that he owned both gold and bitcoin. S&P 500 Index lost 10.8% in 1957, so Buffetts investors actually thrilled to beat the market by 20.1 percentage points in 1957. Kenneth Langone leaves the offices of Duquesne Capital Monday, April 25 in New York. His investment philosophy is to adopt an active trading style similar to that of George Soros by holding long options and shorts while using leverage for futures trades; additionally, he invests in gold and bitcoin. Following his long partnership with Soros, Druckenmiller built Duquesne Capital to a peak of $12B of assets under management. Mining, Quarrying, and Oil and Gas Extraction ($286 Million), Health Care and Social Assistance ($34.9 Million), Professional, Scientific, and Technical Services ($12.4 Million), Administrative and Support and Waste Management and Remediation Services ($0). Stanley Druckenmiller, founder of Duquesne Capital Management, speaks at the Sohn Investment Conference in New York, May 8, 2013. . View Map. I/we have a beneficial long position in the shares of ACAD, AMZN, CPNG, FB, GOOGL either through stock ownership, options, or other derivatives. Teck Resources (TECK): TECK was a 2.47% of the portfolio position built in Q4 2020 at prices between ~$12.25 and ~$18.85. Druckenmiller was an avid Little League pitcher, and excelled at sports including golf, bocce and badminton. After beginning his career as a stock analyst at Pittsburgh National Bank, the Pittsburgh native struck out on his own, founding Duquesne Capital Management in 1981. He and Soros famously "broke the Bank of England" when they shorted British pound sterling in 1992, reputedly making more than $1 billion in profits, in an event known as Black Wednesday. 130 E. Randolph St. Save . Alphabet Inc. (GOOG): The large (top three) ~10% GOOG stake was established in Q4 2019 & Q1 2020 at prices between ~$1215 and ~$1521. As per the news at that time, Druckenmiller was exhausted from the pressure of trying to keep up with one of the best track records in the industry while handling huge capital. Link to 13F filings: SEC filings. $6.4B. Game Date: February 26, 2023 Game Time: 2:45 p.m. Job specializations: Finance. Shares started trading at ~$49 and currently goes for $18.92. Valuations are His Duquesne Capital Management LLC, which oversees $12 billion and has never had a losing year, is down 5 percent in 2010. All text and design is copyright 2020 WhaleWisdom.com. [10] His biggest investments are Microsoft and Amazon in 2020. Carvana (CVNA): The 4.39% CVNA position saw a ~70% stake increase in H2 2021 at prices between ~$224 and ~$315. Greg Ley, a portfolio manager specializing in industrials, materials and energy, is also leaving the firm to pursue an "entrepreneurial opportunity.". That would have been 9.35% in hedge fund fees. In 1981, he founded his own firm, Duquesne Capital Management. Bush). Christopher Cannon, Dean Halford, Brittany Harris and Julian Burgess, of the total wealth of the 500 richest people in the world, of the top 200 U.S. executives total awarded compensation. OriginalWhaleScore The 2.46% of the portfolio SNAP position was established at prices between ~$44.50 and ~$77 and it is now below the low end of that range at ~$37. Last week Boston-based Highfields Capital co-founder Richard Grubman said he was retiring. Langone is preparing an offer for the New York Stock Exchange,. A premium alternative for hedge funds and private asset managers Duquesne Fund Services offers a rare level of consultative insight and premier fund servicing solutions. [3] He is reported to have made $260 million in 2008.[4]. You are limited to the prior 8 quarters of 13F filings. The stock is now at ~$149. Stanley Freeman Druckenmiller is a hedge fund manager, philanthropist, and investor. Mr. Samuelson will stay at PointState "for several months" during a transition, Mr. Schreiber said, and will remain an investor in the firm. Instead of taking jobs after graduation, Max Knape and Samuel Frymier together founded Quesne Capital, an investment management firm based in Pittsburgh. Some of the aging young stars bristled at the ceaseless demands their jobs imposed, often keeping them away from young children and scuttling countless family vacations. I am not receiving compensation for it (other than from Seeking Alpha). . Oscar Health (OSCR) and Palantir Technologies (PLTR):These very small (less than ~1% of the portfolio each) stakes were kept steady this quarter. With Mr. Soros, Mr. Druckenmiller helped pioneer an investment strategy that today is referred to as macro trading. Forbes magazine, in its 2009 ranking of the richest Americans, estimated his net worth at $3.5 billion. Duquesne Family Office was formed when decided to close the doors of his hedge fund Duquesne Capital to the outside investors in 2010 and to return client money. The change made by this company is -7.5k and the % change made by it is -0.29%. They add up to ~53% of the portfolio. There was a ~50% stake increase last quarter at prices between ~$28 and ~$44.50. Q4 2019 saw a ~85% reduction at prices between ~$1740 and ~$1870. The firm posted returns of more than 20% in both 2013 and 2014, when it made about $1 billion from a bet against oil. Jim Cramer October 3, 2022. He is the former chairman and president of Duquesne Capital, which he founded in 1981. ? Mr. Samuelson, 46, "has decided to retire from investment management," co-founder Zach Schreiber said in a letter to clients Friday. It is currently their largest stake at ~19% of the portfolio. Duquesne Family Office was formed when decided to close the doors of his hedge fund Duquesne Capital to the outside investors in 2010 and to return client money. Live Nation Entertainment (LYV): The 1.27% of the portfolio LYV stake was purchased last quarter at prices between ~$75 and ~$94 and the stock currently trades well above that range at ~$118. Druckenmiller also managed money for George Soros from 1988 till 2000, as he was Portfolio Manager of Quantum Fund. He declined to comment on his net worth through spokesman Shawn Pattison. Please disable your ad-blocker and refresh. Next quarter saw a ~70% selling at prices between ~$5.50 and ~$12.90. The top three positions are at ~39% of the portfolio. Marries Fiona Biggs, niece of Barton Biggs, at home of Jack Dreyfus. Exits 5. The stock currently trades at ~$220. )* NEW FORTRESS ENERGY LLC (Name of Issuer) Class A Common Stock, no par value (Title of Class of Securities) 644393100 (CUSIP Number) August . Druckenmiller, who acquired expertise in making global bets on interest rates and currencies while working at Soros Fund Management, posted an average annual return of 30 percent at his fund for decades. This quarter saw a minor ~3% stake increase. The buy price is calculated from the weighted average of all purchases since the last sell-out of the investor. As of 09/30/2022, below is a summary of the Duquesne Family Office LLC top holdings . https://www.nytimes.com/2010/08/19/business/19hedge.html. As of February 23, 2023, 10:02 PM EST : Last . Meta Platforms (FB), previously Facebook: FB was a 1.17% of the portfolio stake built in H1 2021 at prices between ~$246 and ~$356. His funds were down for about 5 percent when he announced his retirement in August. He was born in Pittsburgh in 1953. [26], In July 2008, Druckenmiller emerged as a potential investor in the Pittsburgh Steelers franchise of the National Football League. We initially share this idea in October 2018 and the stock already returned more than 150%. In December 2021, he was estimated to have more about $1.7 billion with PointState and other hedge fund managers, based on a Bloomberg index of hedge fund returns. [1] He dropped out of a Ph.D. program in economics at the University of Michigan in the middle of the second semester to accept a position as an oil analyst for Pittsburgh National Bank. Summary Investments People Signals & News. Their last reported 13F filing for Q4 2022 included $2,020,266,796 in managed 13F securities and a top 10 holdings concentration of 68.68%. Druckenmiller lost $2 billion in 1998 on collapsing Russian stocks and bonds, though still posted a gain for the year. Takes over management of flagship Dreyfus Fund under Howard Stein. Create Email Alert, ***Log In or The stake has wavered. Soros hired him to run his biggest hedge fund, Quantum, in 1988. He started hedge fund firm Duquesne Capital Management in 1986, delivering 30% returns annually before converting it into a family office in 2010. containing a link to download the .zip file of the CSV file(s) you requested. NEW YORK, NY Modified: 3/1/2023 9:52:21 PM. Renaissance Technologies Point72 Asset Management Greenlight Capital Oaktree Capital Management Paulson & Co Zebra Capital Management Bill & Melinda Gates Foundation Trust Citadel Advisors Pershing Square . Subscribe to WhaleWisdom to view all filing data CVX is a 3.51% of the portfolio stake purchased at prices between ~$102 and ~$119 and the stock currently trades well above that range at ~$166. This quarter saw marginal trimming. Team Turnovers: None. $10.1B can buy Druckenmiller's fortune is derived from the proceeds he's earned running hedge funds for more than 30 years. This company is the number 1 company in his portfolio having 2.64M shares. Find top employees, contact details and business statistics at RocketReach. [24], Druckenmiller and his wife are also principal sponsors of the New York City AIDS walk. The next three quarters saw a ~140% stake increase at prices between ~$150 and ~$232. Investments 6. In the regulatory environment after Duquesne, investors are exposed to substantial risks from very large cost disallowances without equivalent opportu-nities for gain. We give you the access and tools to invest like a Wall Street money manager at a Main Street price. Airbnb (ABNB): ABNB is a ~3% of the portfolio stake established in Q2 2021 at prices between ~$133 and ~$190 and it is now at ~$171. The firm sold all of its 2,396 put contracts on the SPDR S&P 500 ETF , a . That year Druckenmiller divorced his college sweetheart and married Fiona Biggs, a star analyst at Dreyfus and the niece of famed investor and market prognosticator Barton Biggs. Stanley Druckenmiller, the hedge- fund icon who boasts one of the best long-term trading records and the distinction of having made $1 billion for George Soros by . We take a closer look at hedge funds like Duquesne Family Office in order to identify their best and worst ideas. [2]: Completes other duties as assigned. It was rebuilt this quarter at prices between ~$204 and ~$303. In this article, we discuss the 9 stocks that Stanley Druckenmiller was right about. Free shipping for many products! [18], In 2020, after the stock market crash and subsequent rally above pre-crash levels, Druckenmiller said he expects inflation in the US economy due to actions taken by the Federal Reserve. . and a top 10 holdings concentration of 68.68%. In 2010, he returned all of his investors' money and converted Duquesne into a family office. Phone: 1-866-280-0237 Palo Alto Networks (PANW): PANW is a large 4.63% of the portfolio position established in H2 2020 at prices between ~$163 and ~$238. While the joy of winning for clients is immense, for me the disappointment of each interim drawdown over the years has taken a cumulative toll that I cannot continue to sustain.. Alt Turnover is calculated by taking either the total MV of new purchases or . Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. The worth of this company is $ 586.76M. Learn how to say Duquesne with EmmaSaying free pronunciation tutorials.Definition and meaning can be found here:https://www.google.com/search?q=define+Duquesne ET Game Venue: San Siro, Milan, Italy. Bloomberg. Several months later, he earned another $1 billion betting against the Swedish krona and later won shorting the Thai baht and Malaysian ringgit. The five sons of Steelers founder Art Rooney Sr. were working to restructure ownership of the team, and Druckenmiller was contacted by a member or representative of the Rooney family about buying the shares of several of the Rooney brothers. I started my trip around Karnataka by visiting Bangalore/Bengaluru and creating a travel vlog of my journey. Former executives of Stan Druckenmiller's Duquesne Capital Management are opening a new firm with $5 billion, according to four people briefed on the plans. Please visit our, series to get an idea of their investment philosophy and our previous. After graduating in 1971 from Collegiate School in Richmond, Virginia, he attended Bowdoin College in Brunswick, Maine. The elimination this quarter was at prices between ~$226 and ~$385. David Einhorn, Founder and President of Greenlight Capital exited his stakes in Intel (INTC), Rivian Automotive (RIVN), and News Corp. (NWS) in Q4, according to the hedge funds 13-F filing. 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