Druckenmiller Adds to Energy, Cuts Consumer Stocks in Quarter
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Stan Druckenmiller bought shares of energy companies and sold retail stocks in the first quarter as the billionaire anticipates oil prices will rise by next year.
The former chief strategist for George Soros purchased 561,600 shares of natural gas and crude oil producer EOG Resources Inc. valued at $51.5 million at the end of March, according to a regulatory filing. Druckenmiller’s Duquesne Family Office also bought a stake in Pioneer Natural Resources Co.