Insight into Druckenmiller's Latest 13F Filings and Portfolio Adjustments

Stanley Druckenmiller (Trades, Portfolio), the renowned investor and former lead portfolio manager for George Soros (Trades, Portfolio)' Quantum Fund, has made significant adjustments to his investment portfolio in the third quarter of 2024. As the head of Duquesne Capital, Druckenmiller's investment strategy is heavily influenced by a top-down approach, focusing on a mix of long and short positions across various asset classes. His latest 13F filing reveals a strategic emphasis on biotechnology, with Natera Inc. standing out as a key player.

• Warning! GuruFocus has detected 5 Warning Signs with NTRA.

New Additions to the Portfolio

During the third quarter of 2024, Stanley Druckenmiller (Trades, Portfolio) expanded his portfolio by adding 31 new stocks. Noteworthy new acquisitions include:

• SPDR S&P Regional Banking ETF (KRE) with 2,053,323 shares, making up 3.94% of the portfolio and valued at $116.22 million.

• Broadcom Inc (NASDAQ:AVGO) with 239,980 shares, representing about 1.4% of the portfolio, totaling $41.4 million.

• Ascendis Pharma AS (NASDAQ:ASND) with 265,040 shares, accounting for 1.34% of the portfolio, valued at $39.57 million.

Significant Increases in Existing Positions

Druckenmiller also increased his stakes in several existing holdings, with the most significant boosts in:

• Natera Inc (NASDAQ:NTRA), where he added 1,591,970 shares, bringing his total to 3,566,850 shares. This adjustment marks an 80.61% increase in share count and a 6.85% impact on his current portfolio, with a total value of $452.81 million.

• Philip Morris International Inc (NYSE:PM), with an additional 245,280 shares, bringing the total to 1,134,635 shares. This represents a 27.58% increase in share count, valued at $137.75 million.

Complete Exits from Certain Holdings

In the same quarter, Stanley Druckenmiller (Trades, Portfolio) decided to exit completely from 22 positions. Significant exits include:

• Option Care Health Inc (NASDAQ:OPCH), where all 1,871,818 shares were sold, impacting the portfolio by -1.78%.

• NVIDIA Corp (NASDAQ:NVDA), with all 214,060 shares liquidated, resulting in a -0.91% portfolio impact.

Reductions in Key Holdings

Druckenmiller also reduced his positions in 19 stocks, with major reductions in:

• Vistra Corp (NYSE:VST), reduced by 2,233,876 shares, marking an -85.09% decrease in shares and a -6.59% impact on the portfolio. Vistra Corp traded at an average price of $84.87 during the quarter and has returned 75.13% over the past three months and 262.48% year-to-date.

• Microsoft Corp (NASDAQ:MSFT), reduced by 357,395 shares, resulting in an -89.24% reduction and a -5.48% impact on the portfolio. Microsoft traded at an average price of $427.47 during the quarter, with a 2.59% return over the past three months and a 14.14% year-to-date increase.