5 Best Stan Druckenmiller Stocks Other Billionaires Are Also Piling Into

4. General Electric Co (NYSE:GE)

Number of Billionaires Holding Stakes: 21
Duquesne Capital’s Equity Stakes: $81.38 Million

Boston, Massachusetts-based General Electric Co (NYSE:GE) is an industrial investment play.

Here is what Longleaf Partners Fund said about General Electric Company (NYSE:GE) in its Q3 2023 investor letter:

“After a busy first half of the year, we initiated one new position in the quarter in a business we have successfully owned previously and were able to buy again at a discount within a new corporate structure. We opportunistically trimmed and added to several positions throughout the quarter, and we exited General Electric Company (NYSE:GE) and our small position in Hasbro after the share price ran away from us. GE was a multi-year portfolio holding for us that started out rocky but ultimately was a good illustration of owning a “quality” business that was temporarily viewed as “value” (aka, perceived as low quality) before ultimately being weighed properly by the market. CEO Larry Culp was a great partner, creating significant value for shareholders and closing the price-to-value gap. Under his leadership, GE materially improved its operations and is well under way on plans to simplify the business by separating it into three world-class companies. The market has finally caught up with reality versus perception and is pricing GE accordingly. Unfortunately, this means we no longer see a margin of safety for the business but will continue to watch GE and Culp closely and hope to have the opportunity to partner with him again.”

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