The Herbalife Ltd (NYSE:HLF) controversy has drawn in yet another billionaire. Stanley Druckenmiller actually bought Herbalife shares during the September quarter, according to his firm’s latest 13F filing with the Securities and Exchange Commission. Other notable purchases include Amazon.com, Inc. (NASDAQ:AMZN), Nokia Corporation (ADR) (NYSE:NOK) and Halliburton Company (NYSE:HAL).
Google Inc (NASDAQ:GOOG) continues to be his largest position by far, with more than 29% of his portfolio committed to it. Druckenmiller did not change his position in the company during the quarter.
Stanley Druckenmiller’s new positions
During the three months ending Sept. 30, Druckenmiller snapped up about 79,000 shares of Herbalife Ltd (NYSE:HLF), according to his regulatory filing. Of course Herbalife is the company which Bill Ackman dragged into the spotlight almost a year ago when he called it a pyramid scheme and shorted it. Since then, hedge fund managers have taken sides over the company, and now we know where Druckenmiller was as of September. He was long Herbalife.
Many value investors have given up on their strategy over the last 15 years amid concerns that value investing no longer worked. However, some made small adjustments to their strategy but remained value investors to the core. Now all of the value investors who held fast to their investment philosophy are being rewarded as value Read More
Druckenmiller also opened a small position in Amazon.com, Inc. (NASDAQ:AMZN), buying 157,700 shares, although that was enough to make the stock one of his top five holdings with almost 6% of his portfolio in it. Schlumberger Limited. (NYSE:SLB) also became a sizable position in his portfolio, taking up more than 10% to become his second biggest holding during the September quarter.
The billionaire also bought a million shares of Nokia Corporation (ADR) (NYSE:NOK), 2 million shares of The Wendy’s Co (NASDAQ:WEN) and more than 600,000 shares of Halliburton Company (NYSE:HAL). He did not increase his position in any stocks during the quarter.
Druckenmiller’s closed and reduced positions
Druckenmiller reduced his position in two stocks and closed out of eight others. His biggest reduction was CBS Corporation (NYSE:CBS), of which he sold more than 1.5 million shares. His other reduction was Delta Air Lines, Inc. (NYSE:DAL).
He closed completely out of Verizon Communications Inc (NYSE:VZ), selling 473,000 shares of the company. He also sold all of his million shares of Boston Scientific Corporation (NYSE:BSX) and all of his 2 million shares in US Airways Group Inc (NYSE:LCC). If you remember, US Airways was going through some issues with the proposed merger with American Airlines, although that issue was resolved this week.