Druckenmiller Adds Caterpillar, Trims Tech in Commodity Rebound

  • Billionaire’s firm also added Barrick as gold prices rallied
  • Duquesne Family Office cut holdings of Microsoft and Facebook

Billionaire Stanley Druckenmiller added Caterpillar Inc. and Barrick Gold Corp. to his firm’s holdings as commodity prices recovered and share prices rallied, according to quarterly filings.

Druckenmiller is chairman and chief investment officer of Duquesne Family Office, which owned 330,000 Caterpillar shares and 1.83 million Barrick shares at the end of the first quarter when both stakes were worth about $25 million each, according to data compiled by Bloomberg. The fund manager trimmed holdings of Microsoft Corp. and Facebook Inc. in the same period, filings show.

Caterpillar rose 0.9 percent to $70.70 on Monday. The shares climbed 13 percent in the first quarter as the world’s biggest machinery producer works to restructure its operations following a commodities rout. Barrick’s Toronto-listed shares surged 72 percent in the first quarter.

Druckenmiller didn’t immediately respond to an e-mailed request for comment. A Caterpillar spokeswoman didn’t immediately respond to a request for comment.

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