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Stanley Druckenmiller is Loading Up on These 15 Stocks

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·18 min read
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In this article, we discuss the 15 stocks Stanley Druckenmiller is loading up on. If you want to skip our detailed analysis of these stocks, go directly to Stanley Druckenmiller is Loading Up on These 5 Stocks.

Technology stocks have offered investors explosive returns over the past few months. No other billionaire on Wall Street has benefited more from this trend than Stanley Druckenmiller, the Pennsylvania-born investor who oversees Duquesne Capital, a hedge fund with more than $3.4 billion in assets under management. Druckenmiller, who has witnessed his wealth soar by over $4.5 billion in the first eight months of this year, added many growth stocks to his portfolio between March and June, according to the latest securities filings.

Together, the 15 most valuable new additions to the Duquesne Capital portfolio at the end of the second quarter of 2021 accounted for over 11% of the portfolio. Druckenmiller has loaded up on tech companies in the software, cybersecurity, and cloud services business. However, despite this flurry of new activity, he has also maintained sizable stakes in his top holdings like Microsoft Corporation (NASDAQ: MSFT), Amazon.com, Inc. (NASDAQ: AMZN), and Alphabet Inc. (NASDAQ: GOOG), among others.

Although the total value of his holdings has decreased from $3.8 billion at the end of the first quarter this year to $3.4 billion at the end of the second quarter, Druckenmiller still has a turnover rate of 89%. Between March and June this year, the billionaire purchased 16 new stocks, made additional purchases in 10, sold out of 28 equities, and reduced holdings in 12 stocks. Over the years, the incredible success that Druckenmiller has had in the investing world is not typical of an average hedge fund manager.

The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by more than 115 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

Stan Druckenmiller Duquesne
Stan Druckenmiller Duquesne

Stan Druckenmiller

Our Methodology

With this context in mind, here is our list of the 15 stocks Stanley Druckenmiller is loading up on. These were ranked according to the investment portfolio of Duquesne Capital at the end of the second quarter of 2021 with the most valuable holdings occupying top positions on our list.

Only those stocks were selected that are new additions to the portfolio of the fund as compared to the filings for the first quarter of the year. The analyst ratings of each company are also discussed to provide readers with some more context for their investment decisions.

The hedge fund sentiment around each stock was gauged using the data of 873 hedge funds tracked by Insider Monkey. The number of hedge fund holders in each company are mentioned alongside other details for further clarity.

Stanley Druckenmiller is Loading Up on These Stocks

15. ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD)

Number of Hedge Fund Holders: 21

ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) is a California-based biopharma firm. It is placed fifteenth on our list of 15 stocks Stanley Druckenmiller is loading up on. According to the latest filings, Duquesne Capital owned 74,400 shares in ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) at the end of June 2021 worth $1.8 million, representing 0.05% of the portfolio.

On August 5, investment advisory Cantor Fitzgerald kept an Overweight rating on ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) stock and lowered the price target to $27 from $33. Charles Duncan, an analyst at the firm, issued the ratings update.

At the end of the second quarter of 2021, 21 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), down from 33 in the previous quarter worth $1.4 billion.

Just like Microsoft Corporation (NASDAQ: MSFT), Amazon.com, Inc. (NASDAQ: AMZN), and Alphabet Inc. (NASDAQ: GOOG), ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) is one of the top stock picks of Stanley Druckenmiller.

In its Q1 2021 investor letter, Alger, an asset management firm, highlighted a few stocks and ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) was one of them. Here is what the fund said:

“Acadia Pharmaceuticals Inc. was among the top detractors from performance. Acadia Pharmaceuticals develops and commercializes small molecule drugs that address unmet medical needs associated with central nervous system disorders. Acadia’s Nuplazid (Pimavansenn) is marketed for treating hallucinations and delusions that accompany Parkinson’ s disease psychosis. Additionally, Nuplazid is being developed to treat hallucinations and delusions related to dementia. The price of Acadia shares fell significantly in response to an FDA notification on March 3 that the agency had identified deficiencies in the drug’ s supplemental new drug application that currently preclude discussion of labeling and post-marketing requirements.”

14. SentinelOne, Inc. (NYSE: S)

Number of Hedge Fund Holders: 67

SentinelOne, Inc. (NYSE: S) is ranked fourteenth on our list of 15 stocks Stanley Druckenmiller is loading up on. The company provides cybersecurity solutions and is headquartered in California. Regulatory filings show that Duquesne Capital owned 100,000 shares in SentinelOne, Inc. (NYSE: S) worth $4.2 million at the end of the second quarter of 2021, representing 0.12% of the portfolio.

On July 26, investment advisory Cowen initiated coverage of SentinelOne, Inc. (NYSE: S) stock with an Outperform rating and a price target of $60, noting that the platform marketed by the firm was becoming a major shield against network attacks.

At the end of the second quarter of 2021, 67 hedge funds in the database of Insider Monkey held stakes worth $2 billion in SentinelOne, Inc. (NYSE: S).

13. DISH Network Corporation (NASDAQ: DISH)

Number of Hedge Fund Holders: 51

DISH Network Corporation (NASDAQ: DISH) is placed thirteenth on our list of 15 stocks Stanley Druckenmiller is loading up on. The company markets cable and TV-related services and is based in Colorado. Latest data shows that Duquesne Capital owned 112,400 shares in DISH Network Corporation (NASDAQ: DISH) at the end of June 2021 worth $4.6 million, representing 0.13% of the portfolio.

On August 12, investment advisory Deutsche Bank maintained a Buy rating on DISH Network Corporation (NASDAQ: DISH) stock and raised the price target to $77 from $68, noting that the company was making “tangible progress” on the network buildout.

At the end of the second quarter of 2021, 51 hedge funds in the database of Insider Monkey held stakes worth $2.5 billion in DISH Network Corporation (NASDAQ: DISH), the same as in the previous quarter worth $2.2 billion.

In addition to Microsoft Corporation (NASDAQ: MSFT), Amazon.com, Inc. (NASDAQ: AMZN), and Alphabet Inc. (NASDAQ: GOOG), DISH Network Corporation (NASDAQ: DISH) is one of the top stock picks of Stanley Druckenmiller.

In its Q2 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and DISH Network Corporation (NASDAQ: DISH) was one of them. Here is what the fund said:

“Portfolio holdings in the communication services and financials sectors also made strong contributions. Dish Network continues to make progress on the buildout of its greenfield 5G network, with Las Vegas slated to become the first market launched later this year. The company gained credibility, and its stock reacted favorably, after it announced a partnership with Amazon to deploy a 5G cloud-native network using AWS’s cloud infrastructure. While the stock has been volatile in recent quarters, we continue to feel confident in Dish’s long-term prospects, which include competing as a fourth U.S. wireless carrier. Charter Communications has been executing well and benefiting from the growth in residential broadband, which has been accelerated by COVID-19 and should see further support from the Biden Administration’s infrastructure bill, which earmarks $65 billion for broadband buildout. In addition, we expect the company to continue to grow its wireless business, leveraging its mobile virtual network operator (MVNO) relationship with Verizon. The company continues to generate strong and growing free cash flow and deploys it toward consistent and material share buybacks.”

12. OneMain Holdings, Inc. (NYSE: OMF)

Number of Hedge Fund Holders: 41

OneMain Holdings, Inc. (NYSE: OMF) is an Indiana-based financial services holding company. It is ranked twelfth on our list of 15 stocks Stanley Druckenmiller is loading up on. This is the first time the fund has bought a stake in the company. Securities filings reveal that Duquesne Capital owned 83,750 shares in OneMain Holdings, Inc. (NYSE: OMF) at the end of the second quarter of 2021 worth $5 million, representing 0.14% of the portfolio.

On July 28, investment advisory Citi maintained a Buy rating on OneMain Holdings, Inc. (NYSE: OMF) stock and raised the price target to $71 from $64, noting that the guidance numbers were positive on loan growth by the end of the year.

At the end of the second quarter of 2021, 41 hedge funds in the database of Insider Monkey held stakes worth $994 million in OneMain Holdings, Inc. (NYSE: OMF), down from 43 in the previous quarter worth $886 million.

In its Q4 2020 investor letter, Miller Value Partners, an asset management firm, highlighted a few stocks and OneMain Holdings, Inc. (NYSE: OMF) was one of them. Here is what the fund said:

“OneMain Holdings (OMF) was the top contributor over the quarter, advancing 56.0% after reporting Q3 Earnings Per Share (EPS) of $2.19, well above consensus of $1.26 and the quarterly dividend, which was increased 36% to $0.45/share (3.5% annualized yield and 11.5% Trailing Twelve Month (TTM) yield). Net interest income of $836M beat estimates of $778M, implying a 24.3% asset yield and 18.7% net interest margin. Origination volumes increased 41% sequentially to $2.9Bn on continued strength in digital while end-of-period net receivables were flat at $17.8Bn. Credit quality remains excellent with net charge-offs of 5.2%, the lowest level since 3Q 2015. Management guided to year-end receivables of $18.1Bn, net charge-offs of 5.6% (from 5.8%-6.0%), and net leverage of 4.3x-4.5x.”

11. The Mosaic Company (NYSE: MOS)

Number of Hedge Fund Holders: 43

The Mosaic Company (NYSE: MOS) is a Florida-based firm that markets fertilizers and agricultural chemicals. It is placed eleventh on our list of 15 stocks Stanley Druckenmiller is loading up on. According to the 13F filings, Duquesne Capital owned 162,000 shares in The Mosaic Company (NYSE: MOS) at the end of June 2021 worth $5.1 million, representing 0.14% of the portfolio.

On August 20, investment advisory HSBC upgraded The Mosaic Company (NYSE: MOS) stock to Buy from Hold and raised the price target to $39 from $37, underlining that stronger fertilizer prices were here to stay.

At the end of the second quarter of 2021, 43 hedge funds in the database of Insider Monkey held stakes worth $808 million in The Mosaic Company (NYSE: MOS), up from 38 in the preceding quarter worth $944 million.

Along with Microsoft Corporation (NASDAQ: MSFT), Amazon.com, Inc. (NASDAQ: AMZN), and Alphabet Inc. (NASDAQ: GOOG), The Mosaic Company (NYSE: MOS) is one of the top stock picks of Stanley Druckenmiller.

In its Q1 2021 investor letter, Appleseed Fund, an asset management firm, highlighted a few stocks and The Mosaic Company (NYSE: MOS) was one of them. Here is what the fund said:

“Our most significant contributors to the Fund’s equity performance during the quarter (includes) Mosaic Company (MOS). As for Mosaic, its share price has risen in sympathy with increasing grain prices, which should stimulate additional farmer investment into improving crop yields.”

10. Roblox Corporation (NYSE: RBLX)

Number of Hedge Fund Holders: 49

Roblox Corporation (NYSE: RBLX) is ranked tenth on our list of 15 stocks Stanley Druckenmiller is loading up on. The firm owns and runs an online entertainment platform and is based in California. According to the latest filings, Duquesne Capital owned 59,575 shares in Roblox Corporation (NYSE: RBLX) at the end of the second quarter of 2021 worth $5.3 million, representing 0.15% of the portfolio.

On August 18, investment advisory Morgan Stanley maintained an Overweight rating on Roblox Corporation (NYSE: RBLX) stock and raised the price target to $88 from $87, citing four different reasons to stay bullish on the firm in note to investors.

At the end of the second quarter of 2021, 49 hedge funds in the database of Insider Monkey held stakes worth $4.9 billion in Roblox Corporation (NYSE: RBLX), up from 46 in the previous quarter worth $3.3 billion.

In its Q2 2021 investor letter, Guardian Fund, an asset management firm, highlighted a few stocks and Roblox Corporation (NYSE: RBLX) was one of them. Here is what the fund said:

“The wonder-tale stories of children’s books show us that there are infinite possibilities of stories and worlds. The metaverse, the idea that describes the shared 3D spaces in a virtual universe, is enabling people to create fiction. Over the past six months, we initiated a new investment in Roblox. The firm was founded in 1989 by David Baszucki and Erik Kassel when they programmed a physics lab where students could study how cars would crash.

Today, Roblox has become a leading platform with a mission to build a human co-experience that enables billions of users to play, learn, and build friendships in the metaverse. Recent advances in cloud computing, computing devices, and machine learning, enable the materialization of the metaverse. Take what we have in virtual reality today and fast-forward a few decades. Humans will be able to experience unimaginable things and in a couple of millennia virtual economies are likely to become bigger than the physical trade on planet Earth.

Over the first quarter of 2021, Roblox reported 140% revenue growth, 42.1 million daily active users, and 9.7 billion engaged hours. The opportunity for this platform is massive.”

9. CF Industries Holdings, Inc. (NYSE: CF)

Number of Hedge Fund Holders: 47

CF Industries Holdings, Inc. (NYSE: CF) is placed ninth on our list of 15 stocks Stanley Druckenmiller is loading up on. The firm is based in Illinois and markets hydrogen and nitrogen products. Regulatory filings show that Duquesne Capital owned 193,900 shares in CF Industries Holdings, Inc. (NYSE: CF) at the end of June 2021 worth $9.9 million, representing 0.28% of the portfolio.

On August 20, investment advisory HSBC upgraded CF Industries Holdings, Inc. (NYSE: CF) stock to Buy from Hold with a price target of $59.5, up from $57, noting supply disruptions, higher feedstock costs, and low inventories as catalysts for fertilizer prices.

At the end of the second quarter of 2021, 47 hedge funds in the database of Insider Monkey held stakes worth $955 million in CF Industries Holdings, Inc. (NYSE: CF), up from 44 in the previous quarter worth $879 million.

Microsoft Corporation (NASDAQ: MSFT), Amazon.com, Inc. (NASDAQ: AMZN), and Alphabet Inc. (NASDAQ: GOOG) are some of the top stock picks of Stanley Druckenmiller, just like CF Industries Holdings, Inc. (NYSE: CF).

8. Farfetch Limited (NYSE: FTCH)

Number of Hedge Fund Holders: 63

Farfetch Limited (NYSE: FTCH) is a UK-based firm that owns and runs an online marketplace for luxury fashion goods. It is ranked eighth on our list of 15 stocks Stanley Druckenmiller is loading up on. Latest data shows that Duquesne Capital owned 293,100 shares in Farfetch Limited (NYSE: FTCH) at the end of June 2021 worth $14.6 million, representing 0.42% of the portfolio.

On August 20, investment advisory Goldman Sachs kept a Buy rating on Farfetch Limited (NYSE: FTCH) stock but lowered the price target to $68 from $71. Louise Singlehurst, an analyst at the firm, issued the ratings update.

At the end of the second quarter of 2021, 63 hedge funds in the database of Insider Monkey held stakes worth $4 billion in Farfetch Limited (NYSE: FTCH), up from 57 in the previous quarter worth $3 billion.

In its Q1 2021 investor letter, RiverPark Funds, an asset management firm, highlighted a few stocks and Farfetch Limited (NYSE: FTCH) was one of them. Here is what the fund said:

“We established a small position in e-commerce company Farfetch, which is benefitting from the secular trends of growing ecommerce, the global market for personal luxury goods, and emerging market growth, particularly in China. The company is an e-commerce platform like Amazon, Mercado Libre, or Alibaba, and is the leading online luxury fashion retail platform.

Luxury fashion has much lower online penetration than general ecommerce, and Farfetch is differentiated because of its longstanding relationships with the generally family-controlled, brand-protective luxury product companies. Because of its luxury focus, Farfetch has both higher average order values and higher take rates relative to peers, driving higher gross margins.

In its recently ended fiscal 2020, Farfetch grew revenue 64% and gross profit 68%, the company should be EBITDA positive this year, and we believe the company can grow revenue more than 20% per year and EBITDA more than 50% per year for the foreseeable future. With its extremely low capital needs—capital expenditures were less than 2% of revenue last year—we expect the company’s free cash flow to grow even faster.”

7. Marriott International, Inc. (NASDAQ: MAR)

Number of Hedge Fund Holders: 49

Marriott International, Inc. (NASDAQ: MAR) is a Maryland-based firm that owns and runs hotels and timeshare properties. It is placed seventh on our list of 15 stocks Stanley Druckenmiller is loading up on. Securities filings reveal that Duquesne Capital owned 135,700 shares in Marriott International, Inc. (NASDAQ: MAR) at the end of the second quarter of 2021 worth $18.5 million, representing 0.53% of the portfolio.

On August 4, investment advisory BMO Capital reiterated a Market Perform rating on Marriott International, Inc. (NASDAQ: MAR) stock and raised the price target to $145 from $140, appreciating the “better-than-expected” earnings for the firm in the second quarter.

At the end of the second quarter of 2021, 49 hedge funds in the database of Insider Monkey held stakes worth $2.4 billion in Marriott International, Inc. (NASDAQ: MAR), down from 58 in the previous quarter worth $3 billion.

Microsoft Corporation (NASDAQ: MSFT), Amazon.com, Inc. (NASDAQ: AMZN), and Alphabet Inc. (NASDAQ: GOOG) are some of the top stock picks of Stanley Druckenmiller, in addition to Marriott International, Inc. (NASDAQ: MAR).

In its Q1 2021 investor letter, LRT Capital Management, an asset management firm, highlighted a few stocks and Marriott International, Inc. (NASDAQ: MAR) was one of them. Here is what the fund said:

“We are also long shares of Marriott International, Inc. (MAR). Our investment thesis with respect to Marriott is essentially the same as with Hilton: excellent business economics, a consolidating industry and a good track record of capital allocation. Shares of Marriot are up 12.39% year-to-date.”

6. Coupa Software Incorporated (NASDAQ: COUP)

Number of Hedge Fund Holders: 54

Coupa Software Incorporated (NASDAQ: COUP) is ranked sixth on our list of 15 stocks Stanley Druckenmiller is loading up on. The firm operates from California and provides a cloud-based management platform to businesses. Latest data shows that Duquesne Capital owned 107,988 shares in Coupa Software Incorporated (NASDAQ: COUP) at the end of June 2021 worth $28.3 million, representing 0.81% of the portfolio.

On August 11, investment advisory Artete upgraded Coupa Software Incorporated (NASDAQ: COUP) stock to Buy from Sell with a price target of $300, noting that the concerns regarding demand environment were already reflected in the shares.

Out of the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm Lone Pine Capital is a leading shareholder in Coupa Software Incorporated (NASDAQ: COUP) with 4.6 million shares worth more than $1.2 billion.

In its Q4 2020 investor letter, Artisan Partners Limited Partnership, an asset management firm, highlighted a few stocks and Coupa Software Incorporated (NASDAQ: COUP) was one of them. Here is what the fund said:

“We started new investment campaigns in Coupa Software. Coupa is a leading provider of cloud-based business spend-management software. The company helps 1,400 customers process over $2 trillion in annual spend across more than 5 million suppliers. While this quarter’s announcement of a major new customer win at Walmart shows it still has a long runway for growth in this business, we are particularly excited about Coupa Pay—a recently introduced set of cloud services that seeks to process B2B payments (not just invoices) across its large network. B2B payments has seen far less innovation in recent years compared to B2C (PayPal, Venmo, Square), but we see it as a major opportunity in the years ahead.”

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Disclose. None. Stanley Druckenmiller is Loading Up on These 15 Stocks is originally published on Insider Monkey.