MW Druckenmiller poured into regional banks in the third quarter
By Steve Goldstein
Stanley Druckenmiller made a big bet on regional banks in the third quarter, that's likely paid off after a Republican sweep in the elections.
The top new holding of his Duquesne Family Office was the SPDR S&P Regional Banking ETF KRE, and now represents the seventh highest position in the portfolio, according to the 13-F filing filed with the Securities and Exchange Commission.
Since then, the ETF has jumped 16% on hopes for deregulation and a steeper yield curve.
Investors won't know until the fourth-quarter filing comes out as to whether Druckenmiller retained the position or not.
Druckenmiller, formerly George Soros's right-hand man, is known for a series of prescient calls, though in a recent interview he regretted selling out of Nvidia too early.
Read: Druckenmiller: I'm worried the Fed declared victory on inflation too early
-Steve Goldstein
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(END) Dow Jones Newswires
November 15, 2024 03:05 ET (08:05 GMT)
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