Stan Druckenmiller Is Still Very Bullish On These 5 Stocks

In this article, we discuss Stan Druckenmiller is still very bullish on these 5 stocks. If you want to see more stocks in this selection, check out worried about deficit Stan Druckenmiller is Still Very Bullish on These Stocks.

5. Eli Lilly and Company (NYSE:LLY)

Duquesne Capital’s Equity Stake: $251.58 Million
Number of Hedge Fund Holders: 87

Eli Lilly and Company (NYSE:LLY) is a healthcare company. It makes and sells drugs for different diseases all over the world. It is one of Druckenmiller’s top stock picks in the drug manufacturing business as it generates billions of dollars from selling crucial treatments for cancer, diabetes and other chronic illnesses.

Eli Lilly and Company (NYSE:LLY) is up by more than 55% for the year, affirming Duquesne Capital’s $251.58 million worth of stake in the company, accounting for 8.75% of the portfolio. The hedge fund first acquired a stake in the company in the third quarter of 2012. It started building position in the company in the second quarter of last year after exiting in 2013. 

Of the 910 hedge funds listed in Insider Monkey’s database, 87 funds held positions in Eli Lilly and Company (NYSE:LLY) during Q2 2023, marking an increase from 72 in the preceding quarter. The combined worth of these holdings exceeds $5 billion.

In its Q3 2023 investor letter, the Madison Sustainable Equity Fund provided the following statement regarding Eli Lilly and Company (NYSE:LLY):

“Eli Lilly and Company (NYSE:LLY) again moved higher in the third quarter. The stock has continued to be fuelled by its diabetes franchise, in particular Mounjaro, which has been approved for use in diabetes but is also expected to be approved in obesity later this year. We are also waiting for approval of donanemab for Alzheimer’s which should occur by year end.”

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