Billionaire Investor Stan Druckenmiller and Insiders Are Piling Into These 11 Stocks

Published on March 26, 2024 at 5:25 pm by Fahad Saleem in Hedge Funds, Insider Trading, News

In this article, we will take a detailed look at Billionaire Investor Stan Druckenmiller and Insiders Are Piling Into These 11 Stocks. For a quick overview of such stocks, read our article Billionaire Investor Stan Druckenmiller and Insiders Are Piling Into These 5 Stocks.

Billionaire Stanley Druckenmiller is one of the most revered investors in the Wall Street. Druckenmiller, worth over $9 billion, is going long on AI as he believes AI could be as big and transformative as the internet. In June last year, the billionaire said that he does not believe AI is a bubble and that’s why AI was dominating his long portfolio. Druckenmiller almost always thinks long term and that’s the open secret behind his success. Earlier this year, in an interview with How Leaders Lead with David Novak, Druckenmiller advised investors never to invest in the present and instead keep the next 18-24 months in mind and try to imagine how the world would be in the future. These thoughts are reflected in the billionaire’s portfolio as well. Duquesne Capital, which Druckenmiller founded in 1981, bought a new position in NVIDIA Corp (NASDAQ:NVDA) in the last quarter of 2022, buying over 582,000 shares. Back then the contemporary generative AI boom was just getting started. Nvidia was trading at around $146 as of December 30, 2022. Today the stock is hovering around $926. As of the end of the last quarter of 2023 Duquesne Capital had a $306 million stake in the GPU company. Nvidia is among the top picks of the fund, in addition to other big names like Microsoft Corp (NASDAQ:MSFT) and Eli Lilly And Co (NYSE:LLY).

Druckenmiller Avoids “Lazy Longs”

Druckenmiller isn’t a huge fan of portfolio diversification. He said during the interview that if you really believe in a company, you’d take “massive” positions in it instead of putting your money in hundreds of companies. He said legendary investors like Warren Buffett, Carl Icahn and George Soros invest in a handful of companies they really like and believe in. Druckenmiller said instead of having “lazy longs” in your portfolio, if you put your money in just a few companies, you won’t get careless in the investing game.

Methodology

In this article we decided to see which stocks in Druckenmiller’s portfolio are also seeing buying activity from corporate insiders. For that we scanned Druckenmiller’s Q4’2023 portfolio and picked 11 stocks that saw insider buying activity over the past few months. But why is it important to keep tabs on hedge fund and insider activity? Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here).

11. Abcellera Biologics Inc. (NASDAQ:ABCL)

Billionaire Stanley Druckenmiller’s Stake: $3,767,000

Canadian biotechnology company Abcellera Biologics Inc. (NASDAQ:ABCL) ranks 11th in our list of the stocks billionaire Stanley Druckenmiller and insiders are buying. John Montalbano, a director at Abcellera Biologics Inc.’s (NASDAQ:ABCL) board, bought 10,000 shares of Abcellera Biologics Inc. (NASDAQ:ABCL) on November 8, 2023, at $4.46 per share. The transaction came just two days after the director had bought 20,000 shares of Abcellera Biologics Inc. (NASDAQ:ABCL) at $4.64 per share. Since the November 6 transaction till date the stock has gained about 2.68%.

As of the end of the fourth quarter of 2023, billionaire Druckenmiller had a $3.8 million stake in Abcellera Biologics Inc. (NASDAQ:ABCL) via his hedge fund. A total of 15 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in Abcellera Biologics Inc. (NASDAQ:ABCL) as of the end of last year.

In addition to ABCL, Druckenmiller also likes NVIDIA Corp (NASDAQ:NVDA), Microsoft Corp (NASDAQ:MSFT) and Eli Lilly And Co (NYSE:LLY).

10. Charles Schwab Corp (NYSE:SCHW)

Billionaire Stanley Druckenmiller’s Stake: $4,933,000

Charles Schwab Corp (NYSE:SCHW) is one of the stocks in billionaire Stanley Druckenmiller’s portfolio that saw insider buying. On August 17, Charles A. Ruffel, a director at the financial services company, loaded up on 833 shares of Charles Schwab Corp (NYSE:SCHW) at $60.55 per share. Since then the stock has gained about 20%.

Sequoia Fund stated the following regarding The Charles Schwab Corporation (NYSE:SCHW) in its fourth quarter 2023 investor letter:

“By way of example, consider the following holdings: Rolls Royce, The Charles Schwab Corporation (NYSE:SCHW), Elevance Health, Credit Acceptance, Capital One Financial, Liberty Broadband, and Ashtead. Each of these companies trades for a low double-digit, or lower, multiple of our estimate of normalized earnings per share, yet each of them is capable of compounding earnings per share at a double-digit rate. At year-end 2023, these holdings accounted for almost a third of the Fund’s capital. Additions in 2023 included Liberty Broadband, Charles Schwab, Elevance, and Capital One Financial.

Charles Schwab is notable because the business and the stock both had a challenging year. The regional banking panic in the spring of 2023 created an opportunity for us to add to our position below $50 per share. Rising interest rates have impacted the business in ways both predictable and unpredictable, but the net result has been a crimping of earnings that will likely persist for another year or two. Critically, we do not believe any of these transitory dynamics pose, or ever posed, any existential risk to the business. Further, Schwab’s enviable, high-return franchise remains, in our view, entirely intact. If we are right on both these counts, we should generate an attractive return from the current stock price across a range of long-term interest rate scenarios.

Shares in Charles Schwab returned -16% last year, making it the Fund’s worst-performing stock. By holding steady in the down market of 2022, it was one of the Fund’s best-performing stocks that year. This reversal in stock performance reflects a realization that rising interest rates are not an unalloyed good for Schwab in the short run…” (Click here to read the full text)

9. Sphere Entertainment Co. (NYSE:SPHR)

Billionaire Stanley Druckenmiller’s Stake: $10,010,000

Live entertainment and media company Sphere Entertainment Co. (NYSE:SPHR) ranks ninth in our list of the stocks both insiders and Stanley Druckenmiller were piling into.

On March 4, Sphere Entertainment Co.’s (NYSE:SPHR) CEO James L. Dolan snapped up 76,079 shares of Sphere Entertainment Co. (NYSE:SPHR) at $47.19 per share. Since then the stock has gained about 4% in value.

Druckenmiller also likes NVIDIA Corp (NASDAQ:NVDA), Microsoft Corp (NASDAQ:MSFT) and Eli Lilly And Co (NYSE:LLY).

McIntyre Partnerships stated the following regarding Sphere Entertainment Co. (NYSE:SPHR) in its fourth quarter 2023 investor letter:

“In addition, two long-held investments, GTX and MSGE/SPHR, had positive news during the year and were significant contributors to our overall gains. For MSGE/SPHR, the split of the two businesses proved to be a significant catalyst, with the combined company rallying ~75% last year. After the spin in the spring, I rotated the bulk of our investment from MSGE to Sphere Entertainment Co. (NYSE:SPHR), as I thought MSGE was trading at a reasonable valuation while SPHR remained deeply discounted. Since then, SPHR has completed construction of the Las Vegas Sphere, which opened to broadly positive reviews, and SPHR has appreciated further. However, we have substantially reduced our investment in SPHR. I was comfortable owning MSGE in significant size due to its unlevered ownership of the Madison Square Garden arena, an iconic venue with stable cash flows and modest growth. After the split, SPHR has no ownership of the arena and is instead a riskier growth company, with significant upside potential but also higher odds of a miss. As a result, we retain a smaller position in SPHR. Looking forward, I remain bullish on the Las Vegas Sphere and believe additional sphere developments could be a significant catalyst, offset somewhat by my worries regarding refinancing the MSGN loan while SPHR is still bearing a great number of front-end loaded growth expenses.”

8. Adobe Inc (NASDAQ:ADBE)

Billionaire Stanley Druckenmiller’s Stake: $10,220,000

Amy Banse, who is a director at Adobe Inc’s (NASDAQ:ADBE) board, bought just 40 shares of Adobe Inc (NASDAQ:ADBE) on June 21, 2023, at $492 per share. The director also bought 15 shares of Adobe Inc (NASDAQ:ADBE) on January 5 this year at $567.03 per share. Since her first transaction Adobe Inc (NASDAQ:ADBE) shares have gained about 4.6%.

As of the end of the fourth quarter of 2023, billionaire Stanley Druckenmiller had a $10.2 million stake in Adobe Inc (NASDAQ:ADBE). The stock is a new arrival in the billionaire’s portfolio.

Here is what Polen Global Growth has to say about Adobe Inc. (NASDAQ:ADBE) in its Q3 2023 investor letter:

“Both Alphabet and Adobe’s businesses continue to perform well. With respect to Adobe, the most recent quarter delivered more of the same with constant currency revenue growing 13%, margin expansion, and over 2% of shares outstanding repurchased for non-GAAP earnings growth of over 20%. We believe its approach to GenAI through Firefly, which guarantees safe content because it trains on Adobe Stock, will continue to be attractive to enterprises. The counter to GenAI, and something we are keeping an eye on with Alphabet and Adobe, is that it requires heavy investment. While both businesses can leverage their scale and manage costs in other areas, we expect the investment in future growth through GenAI will weigh on company-wide margins over the near term.”

7. Freeport-McMoRan Inc (NYSE:FCX)

Billionaire Stanley Druckenmiller’s Stake: $20,073,000

Sara Grootwassink Lewis, a director at Freeport-McMoRan Inc’s (NYSE:FCX) board, snapped up 4,000 shares of Freeport-McMoRan Inc (NYSE:FCX) on May 12, 2023. Since then Freeport-McMoRan Inc (NYSE:FCX) shares have gained about 28%.

As of the end of the fourth quarter of 2023, 83 hedge funds out of the 933 funds tracked by Insider Monkey were long Freeport-McMoRan Inc (NYSE:FCX), a significant increase from 73 funds in the previous quarter.

6. Option Care Health Inc. (NASDAQ:OPCH)

Billionaire Stanley Druckenmiller’s Stake: $49,060,000

Harry M. Jansen Kraemer, Jr. is a board member at home infusion therapy services company Option Care Health Inc. (NASDAQ:OPCH). The director bought 35,000 shares of Option Care Health Inc. (NASDAQ:OPCH) on February 26 at $31.55 per share. Since then through March 25 the stock has gained about 4.5%.

Click to continue reading and see Billionaire Investor Stan Druckenmiller and Insiders Are Piling Into These 5 Stocks.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on October 30, 2024 at by Inan Dogan, PhD

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A New Dawn is Coming to U.S. Stocks

Published on November 16, 2024 at by Insider Monkey Staff

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Click to continue reading…

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