Stanley Druckenmiller’s portfolio: Duquesne Family Office 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001536411Latest: Q2 2026
Q1 2025 filing in brief
In its Q1 2025 13F, filed May 15, 2025, Duquesne Family Office reported $3.1B across 52 US positions. The largest: NTRA (15.7%), TEVA (7.5%), CPNG (6.7%), WWD (6.5%), PM (5.7%). In the quarter it opened 12 positions, sold out of 38, added to 14 and trimmed 18; positions opened and sold out came to 34.6% of the portfolio's value.
Methodology
Holdings come from the manager’s Form 13F-HR filings on SEC EDGAR, with amendments applied. Values and shares are reported at quarter-end; the filing date is when the report became public. These disclosures show reported long positions and listed options, not the manager’s entire portfolio or its trades since quarter-end.
Quarterly changes compare shares with the immediately preceding quarter on file. New and exited positions appear or disappear; added and trimmed positions change their share count by more than 1%. A share change can also reflect a stock split or other corporate action.
Opened and sold out is the value of new positions plus the prior value of exited positions, divided by the average of the two quarters’ reported portfolio values. It excludes changes to positions still held. Reported value growth includes price changes and is not a measure of investment performance. Largest-five and largest-ten weights exclude options.
Holdings
Filed May 15, 2025
- 12 New
- 14 Added
- 18 Trimmed
- 38 Exited
52 positions at March 31, 2025. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | NTRA | Natera Inc | $481M | 3.4M | 15.72% | −4.6% | Trimmed |
| 2 | TEVA | Teva Pharmaceutical Inds Ltd | $229M | 14.9M | 7.47% | +65.4% | Added |
| 3 | CPNG | Coupang Inc | $204M | 9.3M | 6.67% | +4.5% | Added |
| 4 | WWD | Woodward Inc | $200M | 1.1M | 6.55% | −10.4% | Trimmed |
| 5 | PM | Philip Morris Intl Inc | $175M | 1.1M | 5.73% | −18.3% | Trimmed |
| 6 | COHR | Coherent Corp | $144M | 2.2M | 4.72% | −21.2% | Trimmed |
| 7 | MELI | Mercadolibre Inc | $105M | 53.7K | 3.43% | 0.0% | Held |
| 8 | INSM | Insmed Inc | $104M | 1.4M | 3.41% | +130.7% | Added |
| 9 | TSM | Taiwan Semiconductor Mfg Ltd | $99M | 598.8K | 3.25% | +456.9% | Added |
| 10 | DOCU | Docusign Inc | $87M | 1.1M | 2.86% | — | New |
| 11 | FLUT | Flutter Entmt Plc | $84M | 377.5K | 2.73% | +1985.5% | Added |
| 12 | LLY | Eli Lilly & Co | $78M | 94.8K | 2.56% | +52.5% | Added |
| 13 | YPF | Ypf Sociedad Anonima | $73M | 2.1M | 2.38% | +23.0% | Added |
| 14 | VRNA | Verona Pharma Plc | $64M | 1.0M | 2.08% | +12.9% | Added |
| 15 | BCS | Barclays Plc | $59M | 3.8M | 1.92% | +19.8% | Added |
| 16 | WAB | Wabtec | $55M | 301.1K | 1.78% | +7.5% | Added |
| 17 | CCC | Ccc Intelligent Solutions Hl | $51M | 5.6M | 1.65% | — | New |
| 18 | KMI | Kinder Morgan Inc Del | $47M | 1.7M | 1.54% | −25.7% | Trimmed |
| 19 | EQT | Eqt Corp | $46M | 859.3K | 1.50% | — | New |
| 20 | DAL | Delta Air Lines Inc Delcall option | $41M | 949.5K | 1.35% | 0.0% | Held |
| 21 | CZR | Caesars Entertainment Inc Ne | $39M | 1.5M | 1.27% | — | New |
| 22 | FCX | Freeport-Mcmoran Inc | $39M | 1.0M | 1.26% | +34.2% | Added |
| 23 | DAKT | Daktronics Inc | $37M | 3.1M | 1.22% | +16.9% | Added |
| 24 | ARGT | Global X Fds | $36M | 443.8K | 1.17% | −19.1% | Trimmed |
| 25 | TWLO | Twilio Inc | $35M | 362.2K | 1.16% | — | New |
| 26 | COF | Capital One Finl Corp | $35M | 197.7K | 1.16% | — | New |
| 27 | ROKU | Roku Inc | $35M | 493.6K | 1.14% | — | New |
| 28 | BMA | Banco Macro Sa | $33M | 431.8K | 1.07% | −11.0% | Trimmed |
| 29 | — | Springworks Therapeutics Inc | $27M | 615.9K | 0.89% | −28.4% | Trimmed |
| 30 | AMZN | Amazon Com Inc | $26M | 136.8K | 0.85% | −58.4% | Trimmed |
| 31 | UAL | United Airls Hldgs Inc | $25M | 368.7K | 0.83% | −64.7% | Trimmed |
| 32 | ASND | Ascendis Pharma A/S | $25M | 158.7K | 0.81% | −40.1% | Trimmed |
| 33 | PCT | Purecycle Technologies Inc | $23M | 3.4M | 0.76% | +111.3% | Added |
| 34 | — | Seagate Technology Hldngs Plcall option | $21M | 246.5K | 0.68% | −51.6% | Trimmed |
| 35 | GGAL | Grupo Financiero Galicia S.A | $21M | 381.5K | 0.68% | −15.0% | Trimmed |
| 36 | — | Seagate Technology Hldngs Pl | $19M | 219.5K | 0.61% | −86.0% | Trimmed |
| 37 | BN | Brookfield Corp | $17M | 315.9K | 0.54% | −48.2% | Trimmed |
| 38 | — | Newamsterdam Pharma Company | $16M | 800.4K | 0.54% | +178.4% | Added |
| 39 | TECK | Teck Resources Ltd | $16M | 431.5K | 0.51% | 0.0% | Held |
| 40 | UAL | United Airls Hldgs Inccall option | $16M | 226.0K | 0.51% | 0.0% | Held |
| 41 | BBIO | Bridgebio Pharma Inc | $15M | 438.1K | 0.49% | — | New |
| 42 | DAL | Delta Air Lines Inc Del | $15M | 345.1K | 0.49% | −57.8% | Trimmed |
| 43 | — | Flex Ltd | $12M | 348.9K | 0.38% | 0.0% | Held |
| 44 | EXE | Expand Energy Corporation | $11M | 97.7K | 0.36% | — | New |
| 45 | APP | Applovin Corp | $11M | 40.2K | 0.35% | — | New |
| 46 | AR | Antero Resources Corp | $10M | 258.4K | 0.34% | — | New |
| 47 | PI | Impinj Inc | $10M | 108.5K | 0.32% | — | New |
| 48 | TSLA | Tesla Inc | $5M | 18.8K | 0.16% | −50.0% | Trimmed |
| 49 | RARE | Ultragenyx Pharmaceutical In | $3M | 85.4K | 0.10% | 0.0% | Held |
| 50 | AAL | American Airl | $1M | 133.7K | 0.05% | −85.5% | Trimmed |
| 51 | IVVD | Invivyd Inc | $346K | 571.4K | 0.01% | 0.0% | Held |
| 52 | — | Joby Aviation Inc | $190K | 31.5K | 0.01% | 0.0% | Held |
38 exited positions
Positions held in the preceding quarter and absent from this filing. Values and shares are from the preceding quarter.
| Ticker | Issuer | Previous value | Previous shares |
|---|---|---|---|
| SKAA | Skechers U S A Inc | $72M | 1.1M |
| SLM | Slm Corp | $70M | 2.5M |
| USX1 | United States Stl Corp | $55M | 1.6M |
| WBD | Warner Bros Discovery Inc | $49M | 4.7M |
| AAL | American Airlcall option | $45M | 2.6M |
| VST | Vistra Corp | $39M | 283.4K |
| MU | Micron Technology Inc | $34M | 408.9K |
| KRE | Spdr Ser Tr | $33M | 554.1K |
| BWXT | Bwx Technologies Inc | $33M | 299.2K |
| GEV | Ge Vernova Inc | $33M | 99.8K |
| — | Nvent Electric Plc | $31M | 451.1K |
| DFSEUR | Discover Finl Svcs | $25M | 147.0K |
| WDC | Western Digital Corp | $25M | 417.2K |
| USB | Us Bancorp Del | $24M | 503.6K |
| ARM | Arm Holdings Plc | $22M | 178.4K |
| GTM | Zoominfo Technologies Inc | $19M | 1.8M |
| PANW | Palo Alto Networks Inc | $16M | 87.4K |
| GOOGL | Alphabet Inc | $15M | 76.7K |
| FHN | First Horizon Corporation | $12M | 619.7K |
| WFC | Wells Fargo Co New | $11M | 157.1K |
| FCNCA | First Ctzns Bancshares Inc N | $11M | 5.2K |
| HBAN | Huntington Bancshares Inc | $11M | 671.2K |
| LYV | Live Nation Entertainment In | $10M | 79.6K |
| TFC | Truist Finl Corp | $10M | 233.5K |
| ABCB | Ameris Bancorp | $10M | 154.0K |
| KEY | Keycorp | $9M | 527.0K |
| WULF | Terawulf Inc | $8M | 1.5M |
| PCVX | Vaxcyte Inc | $7M | 86.3K |
| CRNX | Crinetics Pharmaceuticals In | $6M | 122.7K |
| MIR | Mirion Technologies Inc | $6M | 342.7K |
| SNREN | Sunrise Communications Ag Ads | $6M | 133.2K |
| ACLXGBX | Arcellx Inc | $6M | 74.1K |
| C | Citigroup Inc | $5M | 72.7K |
| NU | Nu Hldgs Ltd | $5M | 467.3K |
| ELF | E L F Beauty Inc | $5M | 37.3K |
| IQV | Iqvia Hldgs Inc | $4M | 21.5K |
| PLTR | Palantir Technologies Inc | $3M | 41.7K |
| TLSI | Trisalus Life Sciences Inc | $2M | 426.9K |
Every quarter on file (53)
From the manager’s Form 13F-HR filings on SEC EDGAR, amendments applied. Long US positions only; not a recommendation.