Stanley Druckenmiller's Strategic Moves: A Deep Dive into NVIDIA's Significant Portfolio Reduction

GuruFocus Research

15 May 2024 at 7:04 pm·3-min read

Insights from the First Quarter 13F Filing of 2024

Stanley Druckenmiller (Trades, Portfolio), a renowned figure in the investment world, recently disclosed his first quarter 13F filing for 2024. Born in 1953 in Pittsburgh, Pennsylvania, Druckenmiller is the President, CEO, and Chairman of Duquesne Capital, which he founded in 1981 and later transformed into a family office in 2010. His investment career includes a notable period managing money for George Soros (Trades, Portfolio) from 1988 to 2000, where he was the lead portfolio manager for the Quantum Fund. Druckenmiller's investment approach is heavily influenced by Soros, focusing on a top-down strategy that involves both long and short positions across various asset classes including stocks, bonds, currencies, and futures.

Warning! GuruFocus has detected 5 Warning Sign with MSFT.

Stanley Druckenmiller's Strategic Moves: A Deep Dive into NVIDIA's Significant Portfolio Reduction

Summary of New Buys

Stanley Druckenmiller (Trades, Portfolio) expanded his portfolio by adding a total of 42 stocks. Noteworthy new acquisitions include:

Coherent Corp (NYSE:COHR), with 2,525,070 shares, making up 3.49% of the portfolio and valued at $153 million.
Discover Financial Services (NYSE:DFS), comprising 645,205 shares, which represent about 1.93% of the portfolio, with a total value of $84.58 million.
Kinder Morgan Inc (NYSE:KMI), with 3,880,500 shares, accounting for 1.62% of the portfolio and a total value of $71.17 million.

Key Position Increases

Druckenmiller also increased his stakes in 15 stocks, with significant boosts in:

Natera Inc (NASDAQ:NTRA), adding 1,036,350 shares, bringing the total to 1,929,380 shares. This represents a 116.05% increase in share count, impacting 2.16% of the current portfolio, valued at $176.46 million.
Woodward Inc (NASDAQ:WWD), with an additional 549,595 shares, bringing the total to 954,230. This adjustment marks a 135.82% increase in share count, valued at $147.07 million.

Summary of Sold Out Positions

During the first quarter of 2024, Stanley Druckenmiller (Trades, Portfolio) exited 20 holdings, including:

UBS Group AG (NYSE:UBS), where he sold all 2,414,735 shares, impacting the portfolio by -2.23%.
Lamb Weston Holdings Inc (NYSE:LW), liquidating all 539,209 shares, which had a -1.74% impact on the portfolio.

Key Position Reductions

Druckenmiller reduced his positions in 13 stocks, with the most notable changes in:

NVIDIA Corp (NASDAQ:NVDA), reducing by 441,551 shares, which resulted in a -71.51% decrease in shares and a -6.52% impact on the portfolio. NVIDIA traded at an average price of $724.8 during the quarter and has seen a return of 30.25% over the past three months and 91.09% year-to-date.
Eli Lilly and Co (NYSE:LLY), reducing by 340,886 shares, resulting in an -84.68% reduction in shares and a -5.93% impact on the portfolio. The stock traded at an average price of $711.67 during the quarter and has returned 4.04% over the past three months and 35.49% year-to-date.

Portfolio Overview

As of the first quarter of 2024, Stanley Druckenmiller (Trades, Portfolio)'s portfolio included 73 stocks. The top holdings were 10.67% in Microsoft Corp (NASDAQ:MSFT), 9.11% in Coupang Inc (NYSE:CPNG), 4.75% in Teck Resources Ltd (NYSE:TECK), 4.17% in Vistra Corp (NYSE:VST), and 4.02% in Natera Inc (NASDAQ:NTRA). The holdings are mainly concentrated in 9 of the 11 industries: Technology, Industrials, Consumer Cyclical, Healthcare, Basic Materials, Communication Services, Utilities, Financial Services, and Energy.

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.

This article first appeared on GuruFocus.

OK! Magazine
Emmerdale's Rose's link to Ruby Milligan 'exposed' in DNA twist
Emmerdale fans are growing suspicious that characters Ruby and Rose could be more than just friends as their alliance was revealed, and believe they could be related
Manchester Evening News
£80 payment, HMRC letter and full benefit rate change... the DWP and money changes coming in June
Your personal finances could be significantly affected by some changes next month
Fool.co.uk
The National Grid share price nosedived 21% in 2 days! Is it time to take advantage?
The National Grid share price tumbled after the company surprised shareholders by revealing plans to raise more money via a rights issue. But should I buy? The post The National Grid share price nosedived 21% in 2 days! Is it time to take advantage? appeared first on The Motley Fool UK.
Fool.co.uk
This unloved UK stock could rise 120%, according to a City broker
Some City analysts reckon a once-popular UK stock can recover from its massive recent decline and go on to more than double in value. The post This unloved UK stock could rise 120%, according to a City broker appeared first on The Motley Fool UK.
Yahoo Finance
Nvidia stock leaps to latest record — thanks to Elon Musk
The increase of AI investment has continued to boost optimism over Nvidia's growth as the chipmaker continues its record-setting stock rally.
Fool.co.uk
6.9% dividend yield! 2 cheap stocks to consider for a £1,380 passive income
Looking for a market-beating passive income? These FTSE 100 and FTSE 250 dividend stocks could provide a healthy second income for years to come. The post 6.9% dividend yield! 2 cheap stocks to consider for a £1,380 passive income appeared first on The Motley Fool UK.
Reuters
Sterling hits fresh 2-month high versus dollar ahead of inflation data
The pound held close to multi-month highs versus the euro and hit a fresh two-month high against the dollar as expectations for Bank of England (BoE) rate cuts and growing investor risk appetite supported the British currency. Investors are awaiting key inflation data from major economies this week that could offer clues on the global interest rate outlook. German inflation figures will be released on Wednesday and the wider euro zone's reading on Friday, along with the U.S. core personal consumption expenditures (PCE) price index - the Federal Reserve's preferred measure of inflation.
Fool.co.uk
What should the Vodafone share price be? Here are 3 possible answers
Our writer uses a number of popular financial measures to come up with an estimate of a fair value for the Vodafone share price. The post What should the Vodafone share price be? Here are 3 possible answers appeared first on The Motley Fool UK.
Fool.co.uk
8 stocks that Fools have been buying!
Our Foolish freelancers are putting their money where their mouths are and buying these stocks in recent weeks. The post 8 stocks that Fools have been buying! appeared first on The Motley Fool UK.
The Telegraph
State pension will never be taxed, vows Sunak
The state pension will never be taxed under the Conservatives, Rishi Sunak will declare on Tuesday.
Fool.co.uk
Is Legal & General Group one of the FTSE 100’s greatest value shares?
Legal & General shares boast low P/E ratios and massive dividend yields. Could they be one of the London stock market's greatest bargains? The post Is Legal & General Group one of the FTSE 100’s greatest value shares? appeared first on The Motley Fool UK.
Fool.co.uk
5.4% yield! 2 UK dividend shares to consider for a £1,080 passive income
I think these UK shares could provide a large and sustainable passive income. And they could be great buys today as market conditions recover. The post 5.4% yield! 2 UK dividend shares to consider for a £1,080 passive income appeared first on The Motley Fool UK.
Fool.co.uk
I’d buy shares of this investment trust for my SIPP while they’re under £1
Our writer takes a look at one growth-focused investment trust in his SIPP that could generate a market-beating performance long term. The post I’d buy shares of this investment trust for my SIPP while they’re under £1 appeared first on The Motley Fool UK.
Fool.co.uk
Where will the BT share price go in the next 12 months? Here’s what the experts say
The BT share price has been sliding for years. But after the latest set of results, it looks like the rot might finally have stopped. The post Where will the BT share price go in the next 12 months? Here’s what the experts say appeared first on The Motley Fool UK.
Fool.co.uk
1 iconic FTSE 250 stock I’d snap up for my ISA in June
This Fool highlights a well-known FTSE 250 share that's served up some mouthwatering returns over the past decade. The post 1 iconic FTSE 250 stock I’d snap up for my ISA in June appeared first on The Motley Fool UK.
Reuters Videos
Argentina’s inflation, propped-up peso hit Paraguay border town
STORY: Shoppers are no longer flocking to buy cheap imports from this once-bustling town on Paraguay's border with Argentina. For years, the weak peso kept prices low for fuel, medicine and groceries, all smuggled across the frontier.But with a rare mix of Argentina’s near 300% inflation and a propped-up peso under libertarian President Javier Milei, Nanawa has become a ghost town.Supermarket employee Raquel Alvarenga has seen it first-hand. "It's been quite damaging, sales have dropped by 50%."Other shopkeepers estimate plunges between 60 and 80% since Milei took office in December...when the Argentine president sharply devalued the official peso currency and ushered in austerity. Since then the peso has been allowed to depreciate just 2% per month. Monthly inflation, while slowing, has been some 10 to 20%. That's meant prices in dollar terms have soared. Tourists and exporters are feeling the pinch.In September, a kilo of beef cost around 2,800 pesos on average, or $3.70 at freely accessible parallel exchange rates – much cheaper than the $7 at Uruguay’s Montevideo or Chile’s Santiago.Data from April shows Argentine beef prices around 6,500 pesos – nearly $7 – largely erasing the cost advantage. Border towns in Paraguay, Chile and elsewhere have seen lower local demand for Argentina imports.Some are cheering the shifting trend, which has also meant fewer locals making day trips to Argentina to look for bargains.Back in Nanawa, supermarket employee Alvarenga says she’s adjusting to the lack of shoppers.“There are quite a few changes because there used to be a lot of traffic at this time and now there is no more. Before we had to serve people outside because we couldn't fit everyone in the store. Now we have time to drink (tea).”
The Telegraph
Questor: Emotions aside, British Airways’ owner is a grossly undervalued stock
It can be extremely difficult to ignore personal feelings towards a company when judging its investment potential.
Bloomberg
China’s Oil Demand Outlook Darkens as OPEC+ Prepares to Meet
(Bloomberg) -- As OPEC+ prepares to review global oil markets, trouble is brewing in the group’s biggest customer.Most Read from BloombergWall Street Returns to T+1 Stock Trading After a CenturyTreasuries Hit as US Sales Struggle to Lure Buyers: Markets WrapFor Private Credit’s Top Talent, $1 Million a Year Is Not EnoughWorld’s Largest Nuclear Plant Sits Idle While Energy Needs SoarMortgages Stuck Around 7% Force Rapid Rethink of American DreamChinese oil refiners are cutting processing rates as
Fool.co.uk
Taylor Wimpey just paid me £158.78. I’m aiming to turn that into a £100k yearly second income
Harvey Jones says small, regular dividend payments can turn a few pounds into a mighty second income, if he gives it enough time. The post Taylor Wimpey just paid me £158.78. I’m aiming to turn that into a £100k yearly second income appeared first on The Motley Fool UK.
Bloomberg
India Set to Get 'Huge' Foreign Inflows After Vote: National Stock Exchange
National Stock Exchange of India Ltd. Chief Executive Officer Ashishkumar Chauhan discusses the prospects for the nation's stock market. He also talks about the Securities and Exchange Board of India's decision to turn down the NSE's application for extending trading hours for equity trading. Chauhan speaks on the sidelines of UBS's inaugural Asian Investment Conference in Hong Kong on "Bloomberg: Daybreak Asia."

FTSE 100

FTSE 250

AIM

GBP/EUR

GBP/USD

Bitcoin GBP

CMC Crypto 200

S&P 500

DOW

CRUDE OIL

GOLD FUTURES

NIKKEI 225

HANG SENG

DAX

CAC 40

What's best?