Billionaire Stanley Druckenmiller Dumps $2,500,000,000 Portfolio, Pours Millions Into New Asset: Report
Billionaire Stanley Druckenmiller has sold over $2.5 billion in stocks, including all shares of Nvidia and most of Palantir. He is now investing in Teva Pharmaceutical, purchasing 1.4 million shares worth $30.3 million. Teva's stock has surged over 100% in 2024 due to successful opioid litigation settlements. His top holdings include Natera, Coupang, Coherent, Woodward, and Seagate Technology. Druckenmiller expressed concern about the Federal Reserve potentially cutting rates too soon in a recent interview.
Billionaire Stanley Druckenmiller is exploring new opportunities after dumping more than $2.5 billion in stocks.
The famed investor and head of Duquesne Family Office sold all of the firm’s shares of Nvidia (NVDA) last year, along with nearly all of the firm’s stake in Palantir (PLTR).
Now, Druckenmiller is beginning to pour some of the firm’s massive cash stockpile into Teva Pharmaceutical (TEVA), buying 1,427,950 shares worth about $30.3 million, reports the Motley Fool.
The stock surged more than 100% in 2024, as the company settled opioid litigation and reported strong growth after centering its efforts on brand-name drugs.
As of Q3 2024, the top holdings at Duquesne Family Office include Natera (NTRA) worth $452 million, Coupang (CPNG) valued at $287 million, Coherent (COHR) at $264 million, Woodward (WWD) at $181 million and Seagate Technology (STX) at $179 million.
In a recent interview with Nicolai Tangen, CEO of Norges Bank Investment Management, Druckenmiller said his top concern is whether the Federal Reserve started cutting rates too soon.