Druckenmiller Among Top Managers Who Cut Back U.S. Stocks
- Listed holdings down 41% at Duquesne, 39% at Moore Capital
- Firms had $1.5 trillion in stocks, down from $1.7 trillion
Adjustment Needed for Overextended Markets: Haugerud
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Some of the world’s top hedge fund managers scaled back their U.S. stock investments last quarter as markets tumbled.
The value of Stan Druckenmiller’s disclosed U.S.-listed equity holdings dropped 41 percent to $868 million, according to a filing from the billionaire’s family office. The listed holdings at Louis Bacon’s Moore Capital Management fell 39 percent to $1.65 billion, while at David Tepper’s Appaloosa Management, they dropped 30 percent to $2.82 billion.