Manager record · ✦ curated · archived quarter
Duquesne Family Office
Stanley Druckenmiller (Chairman) · New York, NY · CIK 1536411 · EDGAR filings ↗
Macro-aware equity family office.
$4.49BReported 13F value
62Positions
55.4%Top-10 weight
21.80Effective holdings
34.8%Est. turnover
+25New
−30Exits
Reported 13F portfolio value covers U.S. reportable long positions only, not cash, bonds, shorts or non-U.S. holdings. It is not assets under management. Values normalized from a filing reported in $ thousands; the original filing shows the as-reported figures.
Sector exposure
Healthcare
29.1% (-7.0pp)
Financial Services
18.9% (+9.5pp)
Consumer Cyclical
18.1% (-0.5pp)
Technology
11.4% (-2.7pp)
Industrials
10.6% (+2.8pp)
Communication Services
5.9% (-1.1pp)
Basic Materials
2.9% (+0.6pp)
Consumer Defensive
2.4% (+1.1pp)
Energy
0.5% (-1.0pp)
Share of reported common-equity value; (±pp) vs prior quarter.
The portfolio · Q4 2025
| # | Security | Weight | Value | Shares | Δ shares | Held | |
|---|---|---|---|---|---|---|---|
| 1 | NTRA Natera, Inc. | 13.6% | $575,327 | 2.51M | -21.9% | ▼ Trim | 7 |
| 2 | XLF State Street Financial… | 7.1% | $300,994 | 5.50M | New | New | 1 |
| 3 | INSM Insmed Incorporated | 6.1% | $257,884 | 1.48M | -38.9% | ▼ Trim | 7 |
| 4 | RSP Invesco S&P 500 Equal… | 5.3% | $224,877 | 1.17M | New | New | 1 |
| 5 | TEVA Teva Pharmaceutical… | 4.3% | $183,355 | 5.87M | -64.6% | ▼ Trim | 6 |
| 6 | WWD Woodward, Inc. | 4.2% | $178,650 | 590.93K | -6.7% | ▼ Trim | 7 |
| 7 | AMZN Amazon.com, Inc. | 4.0% | $170,331 | 737.94K | +68.8% | ▲ Add | 2 |
| 8 | TSM Taiwan Semiconductor… | 3.9% | $165,038 | 543.09K | -29.0% | ▼ Trim | 6 |
| 9 | CPNG Coupang, Inc. | 3.8% | $159,773 | 6.77M | +46.2% | ▲ Add | 7 |
| 10 | GOOGL Alphabet Inc. | 2.9% | $120,505 | 385.00K | +276.7% | ▲ Add | 2 |
| 11 | SE Sea Limited | 2.9% | $120,441 | 944.12K | +244.3% | ▲ Add | 3 |
| 12 | EWZ iShares MSCI Brazil ETF | 2.7% | $112,865 | 3.55M | New | New | 1 |
| 13 | Newamsterdam Pharma Company (unmapped) | n/a | $107,701 | 3.07M | n/a | n/a | |
| 14 | MELI MercadoLibre, Inc. | 2.2% | $94,970 | 47.15K | -19.2% | ▼ Trim | 7 |
| 15 | TBBB BBB Foods Inc. | 2.1% | $89,323 | 2.68M | +126.1% | ▲ Add | 3 |
| 16 | QSR Restaurant Brands… | 2.0% | $82,490 | 1.21M | +6.9% | ▲ Add | 3 |
| 17 | COGT Cogent Biosciences, Inc. | 1.9% | $78,658 | 2.21M | +109.0% | ▲ Add | 2 |
| 18 | RH Rh | 1.8% | $75,075 | 563.15K | +43.0% | ▲ Add | 2 |
| 19 | AA Alcoa Corporation | 1.7% | $73,123 | 1.38M | New | New | 1 |
| 20 | ENTG Entegris, Inc. | 1.7% | $71,120 | 844.16K | New | New | 1 |
| 21 | DOCU DocuSign, Inc. | 1.7% | $69,705 | 1.02M | -39.5% | ▼ Trim | 4 |
| 22 | LSCC Lattice Semiconductor… | 1.6% | $68,133 | 925.97K | New | New | 1 |
| 23 | BE Bloom Energy Corporation | 1.5% | $64,346 | 740.54K | New | New | 1 |
| 24 | WAB Westinghouse Air Brake… | 1.5% | $64,058 | 300.11K | -0.8% | ▼ Trim | 7 |
| 25 | ROKU Roku, Inc. | 1.5% | $63,248 | 582.98K | -29.1% | ▼ Trim | 4 |
| 26 | FIGR Figure Technology… | 1.5% | $62,885 | 1.54M | -27.3% | ▼ Trim | 2 |
| 27 | OPCH Option Care Health, Inc. | 1.3% | $55,626 | 1.75M | +78.6% | ▲ Add | 3 |
| 28 | EEM iShares MSCI Emerging… | 1.2% | $49,376 | 902.50K | -52.5% | ▼ Trim | 2 |
| 29 | DAL Delta Air Lines, Inc. | 1.1% | $45,173 | 650.91K | New | New | 1 |
| 30 | UAL United Airlines Holdings… | 0.9% | $38,958 | 348.40K | New | New | 1 |
| 31 | STUB StubHub Holdings, Inc. | 0.7% | $31,197 | 2.31M | -45.9% | ▼ Trim | 2 |
| 32 | ON ON Semiconductor Corporation | 0.7% | $29,038 | 536.26K | New | New | 1 |
| 33 | FLTR.L Flutter Entertainment plc | 0.6% | $24,782 | 115.25K | 0.0% | Held | 7 |
| 34 | PCT PureCycle Technologies, Inc. | 0.6% | $24,726 | 2.88M | +25.0% | ▲ Add | 5 |
| 35 | AEVA Aeva Technologies, Inc. | 0.6% | $24,234 | 1.82M | -0.8% | ▼ Trim | 2 |
| 36 | GS The Goldman Sachs Group… | 0.6% | $24,173 | 27.50K | New | New | 1 |
| 37 | CLF Cleveland-Cliffs Inc. | 0.5% | $23,182 | 1.75M | -35.7% | ▼ Trim | 2 |
| 38 | YPF YPF Sociedad Anónima | 0.5% | $21,949 | 606.99K | +429.2% | ▲ Add | 7 |
| 39 | STM STMicroelectronics N.V. | 0.5% | $20,066 | 773.55K | New | New | 1 |
| 40 | U Unity Software Inc. | 0.4% | $18,111 | 410.02K | -53.5% | ▼ Trim | 3 |
| 41 | SCCO Southern Copper Corporation | 0.4% | $17,334 | 120.82K | New | New | 1 |
| 42 | DAKT Daktronics Inc | 0.4% | $16,863 | 852.96K | -40.6% | ▼ Trim | 7 |
| 43 | CMG Chipotle Mexican Grill, Inc. | 0.3% | $14,501 | 391.93K | +68.1% | ▲ Add | 2 |
| 44 | PTGX Protagonist Therapeutics… | 0.3% | $13,948 | 159.70K | 0.0% | Held | 2 |
| 45 | Z Zillow Group, Inc. Class C | 0.3% | $13,142 | 192.64K | New | New | 1 |
| 46 | CDTX Cidara Therapeutics, Inc. | 0.3% | $10,933 | 49.49K | New | New | 1 |
| 47 | PM Philip Morris International… | 0.3% | $10,811 | 67.40K | New | New | 1 |
| 48 | AAL American Airlines Group Inc. | 0.2% | $9,808 | 639.78K | New | New | 1 |
| 49 | AGX Argan, Inc. | 0.2% | $9,400 | 30.00K | New | New | 1 |
| 50 | DASH DoorDash, Inc. | 0.2% | $8,131 | 35.90K | New | New | 1 |
| 51 | PGNY Progyny, Inc. | 0.2% | $7,579 | 295.12K | New | New | 1 |
| 52 | ECHO EchoStar Corporation | 0.2% | $6,605 | 60.77K | 0.0% | Held | 2 |
| 53 | ADMA ADMA Biologics, Inc. | 0.1% | $4,600 | 252.20K | New | New | 1 |
| 54 | ALM Almonty Industries Inc. | 0.1% | $4,140 | 469.88K | New | New | 1 |
| 55 | WOLF Wolfspeed Inc. | 0.1% | $3,254 | 186.90K | New | New | 1 |
| 56 | WVE Wave Life Sciences Ltd. | 0.1% | $2,941 | 173.00K | New | New | 1 |
| 57 | NP Neptune Ins Hldgs Inc | 0.0% | $583 | 20.00K | New | New | 1 |
Common-stock (SH) positions only; option lines are in the Options tab and are never netted. ✂ = change computed against split-adjusted prior shares. “Held N+” = held every quarter in our window, possibly longer.
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| XLF State Street Financial… | 5.50M | n/a | New | $300.99M | 7.1% | |
| RSP Invesco S&P 500 Equal… | 1.17M | n/a | New | $224.88M | 5.3% | |
| EWZ iShares MSCI Brazil ETF | 3.55M | n/a | New | $112.86M | 2.7% | |
| AA Alcoa Corporation | 1.38M | n/a | New | $73.12M | 1.7% | |
| ENTG Entegris, Inc. | 844.16K | n/a | New | $71.12M | 1.7% | |
| LSCC Lattice Semiconductor… | 925.97K | n/a | New | $68.13M | 1.6% | |
| BE Bloom Energy Corporation | 740.54K | n/a | New | $64.35M | 1.5% | |
| DAL Delta Air Lines, Inc. | 650.91K | n/a | New | $45.17M | 1.1% | |
| UAL United Airlines… | 348.40K | n/a | New | $38.96M | 0.9% | |
| ON ON Semiconductor… | 536.26K | n/a | New | $29.04M | 0.7% | |
| GS The Goldman Sachs… | 27.50K | n/a | New | $24.17M | 0.6% | |
| STM STMicroelectronics N.V. | 773.55K | n/a | New | $20.07M | 0.5% | |
| SCCO Southern Copper… | 120.82K | n/a | New | $17.33M | 0.4% | |
| Z Zillow Group, Inc.… | 192.64K | n/a | New | $13.14M | 0.3% | |
| CDTX Cidara Therapeutics… | 49.49K | n/a | New | $10.93M | 0.3% | |
| PM Philip Morris… | 67.40K | n/a | New | $10.81M | 0.3% | |
| AAL American Airlines Group… | 639.78K | n/a | New | $9.81M | 0.2% | |
| AGX Argan, Inc. | 30.00K | n/a | New | $9.40M | 0.2% | |
| DASH DoorDash, Inc. | 35.90K | n/a | New | $8.13M | 0.2% | |
| PGNY Progyny, Inc. | 295.12K | n/a | New | $7.58M | 0.2% | |
| ADMA ADMA Biologics, Inc. | 252.20K | n/a | New | $4.60M | 0.1% | |
| ALM Almonty Industries Inc. | 469.88K | n/a | New | $4.14M | 0.1% | |
| WOLF Wolfspeed Inc. | 186.90K | n/a | New | $3.25M | 0.1% | |
| WVE Wave Life Sciences Ltd. | 173.00K | n/a | New | $2.94M | 0.1% | |
| NP | 20.00K | n/a | New | $583,000 | 0.0% |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| AMZN Amazon.com, Inc. | 737.94K | 437.07K | +68.8% | $170.33M | 4.0% | ●●○○○○ |
| CPNG Coupang, Inc. | 6.77M | 4.63M | +46.2% | $159.77M | 3.8% | ●●○○○○ |
| GOOGL Alphabet Inc. | 385.00K | 102.20K | +276.7% | $120.50M | 2.9% | ●●○○○○ |
| SE Sea Limited | 944.12K | 274.20K | +244.3% | $120.44M | 2.9% | |
| TBBB BBB Foods Inc. | 2.68M | 1.18M | +126.1% | $89.32M | 2.1% | ●●●○○○ |
| QSR Restaurant Brands… | 1.21M | 1.13M | +6.9% | $82.49M | 2.0% | ●●●○○○ |
| COGT Cogent Biosciences, Inc. | 2.21M | 1.06M | +109.0% | $78.66M | 1.9% | ●●○○○○ |
| RH Rh | 563.15K | 393.82K | +43.0% | $75.08M | 1.8% | ●●○○○○ |
| OPCH Option Care Health, Inc. | 1.75M | 977.68K | +78.6% | $55.63M | 1.3% | ●●●○○○ |
| PCT PureCycle Technologies… | 2.88M | 2.30M | +25.0% | $24.73M | 0.6% | |
| YPF YPF Sociedad Anónima | 606.99K | 114.69K | +429.2% | $21.95M | 0.5% | |
| CMG Chipotle Mexican Grill… | 391.93K | 233.21K | +68.1% | $14.50M | 0.3% | ●●○○○○ |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| NTRA Natera, Inc. | 2.51M | 3.21M | -21.9% | $575.33M | 13.6% | |
| INSM Insmed Incorporated | 1.48M | 2.42M | -38.9% | $257.88M | 6.1% | |
| TEVA Teva Pharmaceutical… | 5.87M | 16.59M | -64.6% | $183.35M | 4.3% | |
| TSM Taiwan Semiconductor… | 543.09K | 765.09K | -29.0% | $165.04M | 3.9% | |
| WWD Woodward, Inc. | 590.93K | 633.01K | -6.7% | $178.65M | 4.2% | ●●●●○○ |
| MELI MercadoLibre, Inc. | 47.15K | 58.34K | -19.2% | $94.97M | 2.2% | |
| DOCU DocuSign, Inc. | 1.02M | 1.69M | -39.5% | $69.70M | 1.7% | |
| EEM iShares MSCI Emerging… | 902.50K | 1.90M | -52.5% | $49.38M | 1.2% | |
| ROKU Roku, Inc. | 582.98K | 822.43K | -29.1% | $63.25M | 1.5% | ●●○○○○ |
| FIGR Figure Technology… | 1.54M | 2.12M | -27.3% | $62.88M | 1.5% | |
| STUB StubHub Holdings, Inc. | 2.31M | 4.26M | -45.9% | $31.20M | 0.7% | |
| WAB Westinghouse Air Brake… | 300.11K | 302.41K | -0.8% | $64.06M | 1.5% | |
| U Unity Software Inc. | 410.02K | 882.50K | -53.5% | $18.11M | 0.4% | ●●○○○○ |
| CLF Cleveland-Cliffs Inc. | 1.75M | 2.72M | -35.7% | $23.18M | 0.5% | |
| DAKT | 852.96K | 1.44M | -40.6% | $16.86M | 0.4% | ●●○○○○ |
| AEVA Aeva Technologies, Inc. | 1.82M | 1.84M | -0.8% | $24.23M | 0.6% |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| VRNA Verona Pharma plc | n/a | 1.00M | Exit | $106.93M | 2.7% | |
| META Meta Platforms, Inc. | n/a | 76.10K | Exit | $55.89M | 1.4% | |
| CRS Carpenter Technology… | n/a | 220.03K | Exit | $54.03M | 1.4% | |
| C Citigroup Inc. | n/a | 514.85K | Exit | $52.26M | 1.3% | |
| TWLO Twilio Inc. | n/a | 512.80K | Exit | $51.33M | 1.3% | |
| BAC Bank of America… | n/a | 989.25K | Exit | $51.03M | 1.3% | |
| EQT EQT Corporation | n/a | 894.95K | Exit | $48.71M | 1.2% | |
| GEV GE Vernova Inc. | n/a | 77.32K | Exit | $47.54M | 1.2% | |
| VST Vistra Corp. | n/a | 233.99K | Exit | $45.84M | 1.2% | |
| LEN Lennar Corporation | n/a | 279.42K | Exit | $35.22M | 0.9% | |
| DHI D.R. Horton, Inc. | n/a | 205.15K | Exit | $34.77M | 0.9% | |
| FWONA Formula One Group | n/a | 288.40K | Exit | $30.12M | 0.8% | |
| DKS DICK'S Sporting Goods… | n/a | 132.43K | Exit | $29.43M | 0.7% | |
| KBE State Street SPDR S&P… | n/a | 482.10K | Exit | $28.65M | 0.7% | |
| PCG PG&E Corporation | n/a | 1.65M | Exit | $24.87M | 0.6% | |
| ARM Arm Holdings plc… | n/a | 167.90K | Exit | $23.76M | 0.6% | |
| NU Nu Holdings Ltd. | n/a | 1.45M | Exit | $23.28M | 0.6% | |
| SMTC Semtech Corporation | n/a | 301.51K | Exit | $21.54M | 0.5% | |
| STX Seagate Technology… | n/a | 85.90K | Exit | $20.28M | 0.5% | |
| GPC Genuine Parts Company | n/a | 144.19K | Exit | $19.98M | 0.5% | |
| ELVN Enliven Therapeutics… | n/a | 947.40K | Exit | $19.39M | 0.5% | |
| POST Post Holdings, Inc. | n/a | 176.40K | Exit | $18.96M | 0.5% | |
| SNDK Sandisk Corporation | n/a | 166.24K | Exit | $18.65M | 0.5% | |
| SYF Synchrony Financial | n/a | 261.82K | Exit | $18.60M | 0.5% | |
| ARGT | n/a | 254.04K | Exit | $17.72M | 0.5% | |
| COF Capital One Financial… | n/a | 43.92K | Exit | $9.34M | 0.2% | |
| SEI Solaris Energy… | n/a | 145.60K | Exit | $5.82M | 0.1% | |
| MDB MongoDB, Inc. | n/a | 17.71K | Exit | $5.50M | 0.1% | |
| TXRH Texas Roadhouse, Inc. | n/a | 29.80K | Exit | $4.95M | 0.1% | |
| CHYM Chime Financial, Inc.… | n/a | 43.23K | Exit | $872,000 | 0.0% |
| Underlying | Type | Underlying shares | Reported value |
|---|---|---|---|
| EWZ | Call | 4.23M | $134,324 |
| SPY | Call | 90.00K | $61,373 |
| IWM | Call | 226.00K | $55,632 |
| AMZN | Call | 100.00K | $23,082 |
13Fs report option notional (underlying shares and market value) but not strike, expiry, or whether the option was bought or written, so no direction can be inferred. Methodology
Position age
250–1 quarters
192–4 quarters
125–8 quarters
Consecutive quarters each current position has been reported, within our data window.
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|---|---|---|---|---|
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| Sanders Capital, LLC | 5 | 3.9% | 0.2185 | Compare ⇄ |
| Walleye Trading LLC | 33 | 3.3% | 0.1956 | Compare ⇄ |
| Alkeon Capital Management Llc | 8 | 5.1% | 0.1806 | Compare ⇄ |
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| Appaloosa | 5 | 4.8% | 0.1662 | Compare ⇄ |
Similarity of reported longs only; hedges and non-13F assets are invisible. Methodology
Filing record
Aug 14 2026
13F-HR · period Q2 2026
$5.21M · 95 holdings listed · View original SEC filing ↗
May 15 2026
13F-HR · period Q1 2026
$3.38M · 70 holdings listed · View original SEC filing ↗
Feb 17 2026
13F-HR · period Q4 2025
$4.49M · 62 holdings listed · View original SEC filing ↗
Nov 14 2025
13F-HR · period Q3 2025
$4.06M · 65 holdings listed · View original SEC filing ↗
Aug 15 2025
13F-HR · period Q2 2025
$4.07M · 69 holdings listed · View original SEC filing ↗
May 15 2025
13F-HR · period Q1 2025
$3.06M · 52 holdings listed · View original SEC filing ↗
Feb 14 2025
13F-HR · period Q4 2024
$3.72M · 78 holdings listed · View original SEC filing ↗
Nov 14 2024
13F-HR · period Q3 2024
$2.95M · 75 holdings listed · View original SEC filing ↗
Aug 14 2024
13F-HR · period Q2 2024
$2.92M · 64 holdings listed · View original SEC filing ↗
Provenance: All holdings parsed from this manager's 13F information tables on SEC EDGAR; values as reported, whole USD. Changes compare the latest accepted version of each quarter (amendments incorporated) on split-adjusted share counts.
Reporting period: Q4 2025 · latest filing Aug 14, 2026 ·
Change methodology