Investment News, Charts, Definitions, Education and more!
Key Points
Billionaire investor Stanley Druckenmiller built a sizable position in regional banks and made one health-care name his biggest position last quarter — two bets that have been rallying since the election of President-elect Donald Trump two weeks ago. The former lead portfolio manager for George Soros’ Quantum Fund, who now runs his own Duquesne Family Office, bought $115 million worth of shares in the SPDR S & P Regional Banking ETF (KRE) in the third quarter, making it the firm’s seventh-biggest holding, according to a new regulatory filing. Meanwhile, Druckenmiller dramatically hiked his bet on clinical genetic testing company Natera to $453 million, pushing it to the top of his portfolio at the end of September and more than double the $214 million Natera represented in the portfolio in the second quarter. Banks and health-care companies are seen as beneficiaries under a Trump presidency because of potential deregulation. The regional banking exchange-traded fund has climbed 12% this month alone, while Natera has jumped nearly 26% in November. In the lead-up to the presidential election, Druckenmiller said the market was convinced of a Trump victory and that if the Republican did take the White House, it would very likely prove a red sweep. The GOP eventually gained majority control of the Senate and kept control of the House of Representatives. KRE YTD mountain SPDR S & P Regional Banking ETF The widely followed investor was recently applauded for his big win on key artificial intelligence player Nvidia . He first bought the chipmaker in 2022 as he grew bullish on the burgeoning industry, comparing the power of AI to the internet. However, he exited the winning bet this year, later admitting it was a “big mistake” as Jensen Huang’s company continued its rally. During the third quarter, Duquesne added a small bet on Broadcom, worth $41 million, as another AI play. Druckenmiller shot to fame after helping make a $10 billion bet against the British pound in 1992. He later oversaw $12 billion as president of Duquesne Capital Management before closing his firm in 2010.
