Duquesne Family Office Llc Equities Overview
Stanley Druckenmiller’s Duquesne Family Office Llc just filed its quarterly 13F. Dated 21/12/2015, the SEC filing reveals the hedge fund has a portfolio value of $1.18 billion, representing a decrease of $307.83 million from the previous quarter when it was $1.48 billion. Note: This filling reprents only assets that which are listed in the US.
|Previous Mkt Value:||$1,484,044,000|
|Chg Mkt Value %:||-20.74 %|
|Turnover %:||46.87 %|
|Top 10 Holdings %:||87.19%|
In this quarter, Stanley Druckenmiller’s Duquesne Family Office Llc opened new positions in Amazon.Com Inc (AMZN) for $49.81 million, Under Armour Inc (UA) for $25.14 million, Expedia Inc (EXPE) for $20.37 million, Carnival Corp (CCL) for $19.30 million and Priceline Group Inc (PCLN) for $19.30 million. These were the 5 biggest new positions. In total the hedge fund bought 7 new stocks.
|Top 5 New Buys|
|Under Armour Inc||2.14%|
|Priceline Group Inc||1.64%|
|13F Sector Allocation|
|Information Technology||39 %|
|Consumer Discretionary||18 %|
|Health Care||2 %|
The hedge fund didn’t report any raised stakes in this quarter.
Stanley Druckenmiller’s fund sold all its stakes in Lyondellbasell Ind’s Nv (LYB), Halliburton Co (HAL), Freeport (FCX), Citigroup Inc (C) and Jp Morgan Chase & Co (JPM). These securities constituted 5.00 %, 4.49 %, 4.45 %, 4.37 % and 3.55 % of the portfolio, respectively. We can only speculate about the reasons for this selling but we believe it has to do with either value, momentum or a better place for Duquesne Family Office Llc’s capital.
The fund also slashed its postitons in Wells Fargo & Co (WFC) by -29.21%, Microsoft Corp (MSFT) by -0.65%, Dow Chemical Co (DOW) by -79.73%, Illumina Inc (ILMN) by -24.55% and Eog Resources Inc (EOG) by -55.61%.
Top 3 Positions
Facebook Inc (FB), Spdr Gold Trust (Call) and Microsoft Corp (MSFT) made up the majority of Duquesne Family Office Llc’s total US long portfolio in this quarter. These holdings were top 3 and constitute 62.69% of Duquesne Family Office Llc’s US-listed securities. The top 10 holdings make approximately 87.19% of the fund’s portfolio value.
It seems Stanley Druckenmiller ‘s Duquesne Family Office Llc holds concentrated portfolio. We wonder do they believe, same as legendary trader Stanley Druckenmiller, that diversification is losing approach? The chart above provides a summary of Duquesne Family Office Llc’s top 10 US-listed stock positions in this quarter.
Sector Allocation And Analysis
Duquesne Family Office Llc raised the information technology sector from 22 % to 39 %. The fund slashed the Materials, Finance and Energy sector stakes by 1 %, 11 % and 13 %, respectively.
So these are Q3 2015 fund’s sector weights now: information technology 39 % for $458.72 million, consumer discretionary 18 % for $211.72 million, finance 10 % for $117.62 million, energy 2 % for $23.52 million, health care 2 % for $23.52 million and materials 1 % for $11.76 million.
Important Position Changes
Top 10 Q3 2015 New Positions: Amazon.Com Inc (AMZN), Under Armour Inc (UA), Expedia Inc (EXPE), Carnival Corp (CCL), Priceline Group Inc (PCLN), Royal Carib’n Cruises Ltd (RCL) and Paypal Holdings Inc.
Top 10 Q3 2015 Sold Out Completely: Lyondellbasell Ind’s Nv (LYB), Halliburton Co (HAL), Freeport (FCX), Citigroup Inc (C), Jp Morgan Chase & Co (JPM), Alcoa Inc (AA), Newmont Mining Corp (NEM), Akamai Tech Inc (AKAM), Ebay Inc (EBAY) and Suntrust Banks Inc (STI).
13F Filing Link: 000153641115000008
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