In 2006, he ranked among the top earners in an industry where managers like Druckenmiller can collect a 20 percent performance fee. It is currently their largest stake at ~19% of the portfolio. 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. Later that decade, Mr. Soros, who had begun shifting his focus to philanthropy, recruited Mr. Druckenmiller to become the principal manager of his Quantum Fund after Mr. Druckenmiller read Mr. Soross book The Alchemy of Finance and arranged to meet him. for DUQUESNE FAMILY OFFICE LLC, Top 20 equal-weighted holdings. The stock is now at ~$87. By the end of 2018, only he and Mr. Samuelson remained. Here's Why. Druckenmiller, 57, said he was tired of the stress of managing money for others and frustrated by his failure in the past three years to match returns that had averaged 30 percent annually since 1986. A devoted Pittsburgh Steelers fan who routinely attends home games, Mr. Druckenmiller made an unsuccessful bid for the National Football League team in 2008. 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. [1]: The current position was built in 2017 at prices between ~$60 and ~$90. 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. He has two sisters, Helen and Salley, and a brother, Kurt. The remainder stake was sold during the quarter. Mr. Samuelson will stay at PointState "for several months" during a transition, Mr. Schreiber said, and will remain an investor in the firm. Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors. Please. According to Bloomberg News, on August 18, 2010, Druckenmiller announced the closing of his hedge fund "telling investors he'd been worn down by the stress of trying to maintain one of the best trading records in the industry while managing an 'enormous amount of capital. This quarter saw a minor ~3% stake increase. New York-based Duquesne specializes in selecting growth oriented value stocks and has never had a losing year in its 30 years. [1] [2] As of 2016, the firm reported $1,026B in managed securities and a portfolio with a 23.8 percent allocation in the materials sector, a 15.3 percent allocation in the health care sector, and a 14.6 percent allocation in the . Meta Platforms (FB), previously Facebook: FB was a 1.17% of the portfolio stake built in H1 2021 at prices between ~$246 and ~$356. Duquesne Family Office 2022 Q4 filed Feb. 14, 2023 . Druckenmiller, who earned an undergraduate degree from Bowdoin College, has amassed one of the most enviable records in the $1.6 trillion hedge fund industry. The stock is now at $304. He side-stepped the 1987 crash by selling out the morning of the collapse. While at Soros, he played an important role in 1992 when the fund made a $1 billion worth successful bet against the British pound. This asymmetry in regulatory outcomes requires a rate of return in excess of the cost of capital, defined as the expected rate of return in capital Latest. filed on 2/14/2022. the MV of securities sold, whichever is less, . Mr. Druckenmiller declined to comment. Back then they werent called hedge funds, they were called partnerships. Organizer John Higgins. Duquesne Family Office's largest holding is Coupang Inc with shares held of 20,283,765. This article is part of a series that provides an ongoing analysis of the changes made to Duquesne Family Office's 13F stock portfolio on a quarterly basis. Tuesday, March 7, 2023 10:00 - 12:00 a.m. EST. PointState had 90 employees as of November. I visted the Botanic Gardens, City Market, made . 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). Phone: 1-866-280-0237 Toronto (31-32 SU, 31-32 ATS) travels to Washington to take on the Wizards (29-32 SU, 29-29-3 ATS) on Thursday at 7:10pmET from Capital One Arena. and each individual billionaire profile contains a detailed analysis of how that person's fortune is tallied. Venture Capital 18,250; Highlights. IR is a very small 0.75% of the portfolio position established during the quarter. Rocketreach finds email, phone & social media for 450M+ professionals. 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. Heatmaps of the top 13f holdings and a list of the largest trades made by Duquesne Family Office, the hedge fund managed by Stanley Druckenmiller. He declined to comment on his net worth through spokesman Shawn Pattison. Sign-up [7] He left Soros in 2000 after taking large losses in technology stocks. Talking about the Stanley Druckenmiller holdings in Microsoft Corporation, out of 100%, this company holds 15.88% of its portfolio. our complete methodology , Design & development: Leaves Dreyfus to take reins Soros Fund Management's Quantum fund. We initially share this idea in October 2018 and the stock already returned more than 150%. How will the DOLs finalized rules impact ESG investing? Principal Registration, Duquesne Capital Management LLC . At the time, he said: We thought it was the eighth inning, and it was the ninth. Among the top new positions were T-Mobile US, Inc. (NASDAQ:TMUS), The Home Depot, Inc. (NYSE:HD), General Electric Company (NYSE:GE), Mastercard Incorporated (NYSE:MA), Visa Inc. (NYSE:V), and QUALCOMM Incorporated (NASDAQ:QCOM). He helped create a new hedge fund model by fusing those two separate traditions, Mr. Mallaby said. In case the buy price of a purchase wasn't reported, the average price during the reported period is taken. In 1981, Druckenmiller founded his own firm Duquesne Capital Management. Link to 13F filings: SEC filings. Whalewisdom has at least 43 13F filings, 12 13D filings, and 53 13G filings. At the peak of the technology boom in 1999 and 2000, he made a big bet on Internet stocks. The stock currently trades at ~$2826. Investment Banking Finance Lending & Brokerage Finance Venture Capital & Private Equity. Team Rebounds: 4. Methodology: The Bloomberg Billionaires Index is a daily ranking of the world's richest Im going to Europe, Mr. Soros said, according to Mr. Mallabys account. At the end of the second quarter, Druckenmiller's top five positions were Apple AAPL.O, Wells Fargo WFC.N, McDonald's MCD.N, JPMorgan Chase JPM.N and Cisco Systems CSCO.O. His funds were down for about 5 percent when he announced his retirement in August. S&P 500WhaleScore . Investors in the share class that can withdraw money on a quarterly basis have until Jan. 31 to say if they want to redeem at the end of March, Mr. Schreiber said in the letter. [23], Druckenmiller is also Chairman of the Board of Harlem Children's Zone, a multi-faceted, community-based project. [5] He became head of the bank's equity research group after one year. Duquesne Family Office LLC Holdings. Stanley Druckenmiller's net worth is estimated by Forbes to be $2.8 billion, and his past success with George Soros (the duo booked a $1B gain on their infamous short of the British Pound in 1992) warrants all investors' attention. Amazon.com (AMZN): AMZN is currently a top-five position at 6.88% of the portfolio. For example S&P 500 Index returned 43.4% in 1958. 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. Duquesne's programs have won praise for innovation and continued high quality including accolades as a "first-tier university," "top 100 undergraduate school," and "Most Popular.". In 1988, he was hired by George Soros to replace Victor Niederhoffer at Quantum Fund. Forbes magazine, in its 2009 ranking of the richest Americans, estimated his net worth at $3.5 billion. I/we have a beneficial long position in the shares of ACAD, AMZN, CPNG, FB, GOOGL either through stock ownership, options, or other derivatives. The position was rebuilt over the last three quarters at prices between ~$1735 and ~$2917. We still like this investment. Investments 6. The stock is now well above that range at ~$622. 13F filing from DUQUESNE FAMILY OFFICE LLC, enter your Please visit our, series to get an idea of their investment philosophy and our previous. To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market. As a subscriber, you have 10 gift articles to give each month. Duquesne Lawyer S p r i n g 2 0 2 2 Th e D u q u e s n e U n ive r s i t y S ch o o l o f L aw M a g a z i n e f o r A l u m n i a n d Fr i e n d s Reprints. PointState Capital said Josh Samuelson will leave the firm he co-founded with the backing of Stan Druckenmiller, following a year in which the hedge fund failed to recover from a double-digit loss in 2018. After nearly falling out over investment styles, Mr. Soros decided to move to London to give Mr. Druckenmiller more space, Mr. Mallaby recounted in his book. Greg Ley, a portfolio manager specializing in industrials, materials and energy, is also leaving the firm to pursue an "entrepreneurial opportunity.". Intuit Inc. (INTU): The 2.47% INTU position was purchased in Q1 2021 at prices between ~$361 and ~$422. But the following years were difficult for the young stars and the old guard alike as they faced fallout from the bursting of the technology bubble, the introduction of the new European currency, a bear market, and then the subprime mortgage crisis, which in 2008 left the hedge fund industry with its worst ever returns. The stake was rebuilt over the next two quarters at prices between ~$1780 and ~$2880. What Cramer is watching Monday back to 2020 on S&P 500, possible major OPEC+ oil cut. 130 E. Randolph St. Duquesne Capital Management . Graduates from college preparatory school in Richmond, Virginia. Druckenmiller lost $2 billion in 1998 on collapsing Russian stocks and bonds, though still posted a gain for the year. DUQUESNE CAPITAL MANAGEMENT L L C. Glassdoor gives you an inside look at what it's like to work at DUQUESNE CAPITAL MANAGEMENT L L C, including salaries, reviews, office photos, and more. Duquesne Family Office Q1 2019 Portfolio Changes, Duquesne Family Office Stanley Druckenmiller, How to Best Use Insider Monkey to Increase Your Returns, 6 Things You Didn't Know About Hedge Funds. I continue to care deeply about performing for our clients, and the stress of performing in a way that I consider to be disappointing -- even if you do not share that view -- persists in exacting a high emotional toll, with the result that I have concluded that this change is necessary, Druckenmiller told his investors. I have no business relationship with any company whose stock is mentioned in this article. Their last reported 13F filing for Q4 2022 included $2,020,266,796 in managed 13F securities That was followed with a ~43% selling this quarter at prices between ~$470 and ~$568. Instead of taking jobs after graduation, Max Knape and Samuel Frymier together founded Quesne Capital, an investment management firm based in Pittsburgh. The stock currently trades at ~$126. Currently, his net worth is assessed by Forbes at $4.6 billion. PointState's return this year is less than 1%, though it's gained 3.6% so far in December. [1] His parents divorced when he was in elementary school and he went to live with his father in Gibbstown, New Jersey (a section of Greenwich Township, Gloucester County, New Jersey) and then in Richmond, Virginia (his sisters, Helen and Salley, would stay with their mother in Philadelphia). That same year while at Dreyfus, he started his first hedge fund at Duquesne. As a result of the merger being completed, the Duquesne Light Shareholder Relations Department was closed on Sept. 14, 2007. His parents separated while he was in elementary school. divided by the total MV of the fund. Main Office TV: fubo Sports Network (Canada) Live Stream: You can stream Milan . He didn't provide further details. Duquesne Capital Management provides its services to high net worth individuals and institutions. Listed on 2023-03-01. as of 3/1/23. AQUA, a Web3 community platform for gamers, has launched its flagship marketplace for trading in-game assets. We initially share this idea in October 2018 and the stock already returned more than 150%. 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And in doing so, Druckenmiller has amassed a personal fortune of his own. In 2006, Druckenmiller gave $25 million to the organization. Senior Property Tax Specialist. Renaissance Technologies Point72 Asset Management Greenlight Capital Oaktree Capital Management Paulson & Co Zebra Capital Management Bill & Melinda Gates Foundation Trust Citadel Advisors Pershing Square . ET Game Venue: San Siro, Milan, Italy. automatically! I am not receiving compensation for it (other than from Seeking Alpha). The bursting of the dot-com bubble in March 2000 hurt his portfolio, prompting him to quit his post managing the Quantum Fund after a dozen years. Warren Buffett has been investing and compounding for at least 65 years. This is the DUQUESNE CAPITAL MANAGEMENT L L C company profile. This quarter saw the position sold down by ~80% at prices between ~$106 and ~$117. (Editing by Leslie Adler, Bernard Orr). All content is posted anonymously by employees working at DUQUESNE CAPITAL MANAGEMENT L L C. NEW YORK, NY Prior to that, he managed George Soros's Quantum Fund between 1988 and 2000. If Warren Buffetts hedge fund didnt generate any outperformance (i.e. 1, Mineralys Therapeutics, Inc. (MLYS), Forward Air Corp (FWRD), and More, Hedge Fund and Insider Trading News: David Einhorn, Stan Druckenmiller, Ray Dalio, Paul Tudor Jones, George Soros, Modulo Capital, Altisource Portfolio Solutions S.A. (ASPS), Moderna, Inc. (MRNA), and More, 12 Best Stocks To Buy For Flat Markets According To Druckenmiller, Stan Druckenmiller Portfolio: Top 10 Stock Picks, Hedge Fund and Insider Trading News: Steve Cohen, Stanley Druckenmiller, Ray Dalio, Crispin Odey, Citadel LLC, ExodusPoint Capital Management, Sound Point Capital Management, Braze Inc (BRZE), FedEx Corporation (FDX), and More, Market Could be "Flat" for 10 Years: Druckenmiller's Prediction and His 10 Defensive Stock Picks, Hedge Fund and Insider Trading News: Kyle Bass, Stanley Druckenmiller, Armistice Capital, AQR Capital Management, Millennium Management, Whale Rock Capital Management, Costco Wholesale Corporation (COST), Rocket Companies Inc (RKT), and More, 10 Dividend Stocks to Buy According to Billionaire Stanley Druckenmiller's Duquesne Capital, Billionaire Stanley Druckenmiller is Selling These 10 Stocks, Billionaire Stanley Druckenmiller is Decreasing Stakes in These 10 Stocks, 10 Stocks That Have Grabbed Stanley Druckenmillers Attention in 2022, Hedge Fund and Insider Trading News: Whitney Tilson, David Einhorn, Stanley Druckenmiller, Bill Ackman, Ray Dalio, Lone Pine Capital, Tricida, Inc. (TCDA), Hillenbrand, Inc. (HI), and More, Stanley Druckenmiller Was Right About These 9 Stocks, Billionaire Stanley Druckenmiller's 2022 Portfolio: 10 Value Stock Picks, 10 Tech Stocks to Sell in 2022 According to Billionaire Stanley Druckenmiller, How to Best Use Insider Monkey to Increase Your Returns, 6 Things You Didn't Know About Hedge Funds. Druckenmiller's small 0.74% of the portfolio stake goes back to funding rounds prior to the IPO. Stanley Freeman Druckenmiller is a hedge fund manager, philanthropist, and investor. 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. Coupa Software (COUP) and Reata Pharma (RETA): These two small (less than ~0.75% of the portfolio each) stakes were reduced this quarter. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. [21][22], In 2009, Druckenmiller donated $705 million to foundations that support medical research, education, and anti-poverty, including a $100 million gift to found a Neuroscience Institute at the NYU School of Medicine. Location. He ascended quickly and was named research director and then head of investments in 1979. Receives English and economics degree from Bowdoin, magna cum laude. About. The change made by this company is -7.5k and the % change made by it is -0.29%. 76.35% of the companies in his portfolio are profitable, with an average P/E ratio of 37.69x3. 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. Bloomberg reporting. I wrote this article myself, and it expresses my own opinions. https://www.nytimes.com/2010/08/19/business/19hedge.html. 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