Stanley Druckenmiller’s portfolio: Duquesne Family Office 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001536411Latest: Q2 2026
Q3 2025 filing in brief
In its Q3 2025 13F, filed November 14, 2025, Duquesne Family Office reported $4.1B across 65 US positions. The largest: NTRA (12.7%), INSM (8.6%), TEVA (8.3%), TSM (5.3%), WWD (3.9%). In the quarter it opened 29 positions, sold out of 33, added to 17 and trimmed 15; positions opened and sold out came to 51.9% 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 Nov 14, 2025
- 29 New
- 17 Added
- 15 Trimmed
- 33 Exited
65 positions at September 30, 2025. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | NTRA | Natera Inc | $517M | 3.2M | 12.74% | +4.2% | Added |
| 2 | INSM | Insmed Inc | $349M | 2.4M | 8.59% | +7.5% | Added |
| 3 | TEVA | Teva Pharmaceutical Inds Ltd | $335M | 16.6M | 8.25% | +3.9% | Added |
| 4 | TSM | Taiwan Semiconductor Mfg Ltd | $214M | 765.1K | 5.26% | 0.0% | Held |
| 5 | WWD | Woodward Inc | $160M | 633.0K | 3.94% | −25.4% | Trimmed |
| 6 | CPNG | Coupang Inc | $149M | 4.6M | 3.67% | +12.9% | Added |
| 7 | MELI | Mercadolibre Inc | $136M | 58.3K | 3.36% | +8.6% | Added |
| 8 | DOCU | Docusign Inc | $122M | 1.7M | 2.99% | +30.6% | Added |
| 9 | VRNA | Verona Pharma Plc | $107M | 1.0M | 2.63% | 0.0% | Held |
| 10 | EEM | Ishares Tr | $101M | 1.9M | 2.50% | — | New |
| 11 | AMZN | Amazon Com Inc | $96M | 437.1K | 2.36% | — | New |
| 12 | ROKU | Roku Inc | $82M | 822.4K | 2.03% | −25.3% | Trimmed |
| 13 | FIGR | Figure Technology Solutio | $77M | 2.1M | 1.90% | — | New |
| 14 | QSR | Restaurant Brands Intl Inc | $73M | 1.1M | 1.79% | +50.6% | Added |
| 15 | STUB | Stubhub Hldgs Inc | $72M | 4.3M | 1.77% | — | New |
| 16 | WAB | Wabtec | $61M | 302.4K | 1.49% | +77.4% | Added |
| 17 | SPY | Spdr S&P 500 Etf Trcall option | $60M | 90.0K | 1.48% | 0.0% | Held |
| 18 | META | Meta Platforms Inc | $56M | 76.1K | 1.38% | — | New |
| 19 | — | Newamsterdam Pharma Company | $55M | 1.9M | 1.35% | +131.2% | Added |
| 20 | IWM | Ishares Trcall option | $55M | 226.0K | 1.35% | −32.5% | Trimmed |
| 21 | CRS | Carpenter Technology Corp | $54M | 220.0K | 1.33% | +73.8% | Added |
| 22 | C | Citigroup Inc | $52M | 514.9K | 1.29% | −22.7% | Trimmed |
| 23 | TWLO | Twilio Inc | $51M | 512.8K | 1.26% | +155.8% | Added |
| 24 | BAC | Bank America Corp | $51M | 989.3K | 1.26% | +189.3% | Added |
| 25 | SE | Sea Ltd | $49M | 274.2K | 1.21% | −11.5% | Trimmed |
| 26 | EQT | Eqt Corp | $49M | 895.0K | 1.20% | −28.6% | Trimmed |
| 27 | GEV | Ge Vernova Inc | $48M | 77.3K | 1.17% | — | New |
| 28 | — | Crh Plc | $47M | 393.8K | 1.16% | — | New |
| 29 | VST | Vistra Corp | $46M | 234.0K | 1.13% | — | New |
| 30 | U | Unity Software Inc | $35M | 882.5K | 0.87% | −50.3% | Trimmed |
| 31 | LEN | Lennar Corp | $35M | 279.4K | 0.87% | +210.8% | Added |
| 32 | DHI | D R Horton Inc | $35M | 205.2K | 0.86% | +165.1% | Added |
| 33 | CLF | Cleveland-Cliffs Inc New | $33M | 2.7M | 0.82% | — | New |
| 34 | — | Bbb Foods Inc | $32M | 1.2M | 0.79% | +228.1% | Added |
| 35 | PCT | Purecycle Technologies Inc | $30M | 2.3M | 0.75% | 0.0% | Held |
| 36 | FWONK | Liberty Media Corp Del | $30M | 288.4K | 0.74% | — | New |
| 37 | DAKT | Daktronics Inc | $30M | 1.4M | 0.74% | −53.3% | Trimmed |
| 38 | DKS | Dicks Sporting Goods Inc | $29M | 132.4K | 0.72% | — | New |
| 39 | FLUT | Flutter Entmt Plc | $29M | 115.2K | 0.72% | −71.6% | Trimmed |
| 40 | KBE | Spdr Series Trust | $29M | 482.1K | 0.71% | — | New |
| 41 | OPCH | Option Care Health Inc | $27M | 977.7K | 0.67% | +53.5% | Added |
| 42 | AEVA | Aeva Technologies Inc | $27M | 1.8M | 0.66% | — | New |
| 43 | PCG | Pg&E Corp | $25M | 1.6M | 0.61% | — | New |
| 44 | GOOGL | Alphabet Inc | $25M | 102.2K | 0.61% | — | New |
| 45 | ARM | Arm Holdings Plc | $24M | 167.9K | 0.58% | — | New |
| 46 | NU | Nu Hldgs Ltd | $23M | 1.5M | 0.57% | −57.4% | Trimmed |
| 47 | SMTC | Semtech Corp | $22M | 301.5K | 0.53% | — | New |
| 48 | — | Seagate Technology Hldngs Pl | $20M | 85.9K | 0.50% | −56.5% | Trimmed |
| 49 | GPC | Genuine Parts Co | $20M | 144.2K | 0.49% | — | New |
| 50 | ELVN | Enliven Therapeutics Inc | $19M | 947.4K | 0.48% | +104.6% | Added |
| 51 | POST | Post Hldgs Inc | $19M | 176.4K | 0.47% | — | New |
| 52 | SNDK | Sandisk Corp | $19M | 166.2K | 0.46% | — | New |
| 53 | SYF | Synchrony Financial | $19M | 261.8K | 0.46% | — | New |
| 54 | ARGT | Global X Fds | $18M | 254.0K | 0.44% | −5.1% | Trimmed |
| 55 | NTRA | Natera Inccall option | $16M | 100.0K | 0.40% | −12.7% | Trimmed |
| 56 | COGT | Cogent Biosciences Inc | $15M | 1.1M | 0.37% | — | New |
| 57 | PTGX | Protagonist Therapeutics Inc | $11M | 159.7K | 0.26% | — | New |
| 58 | COF | Capital One Finl Corp | $9M | 43.9K | 0.23% | — | New |
| 59 | CMG | Chipotle Mexican Grill Inc | $9M | 233.2K | 0.22% | — | New |
| 60 | SEI | Solaris Energy Infras Inc | $6M | 145.6K | 0.14% | — | New |
| 61 | MDB | Mongodb Inc | $5M | 17.7K | 0.14% | — | New |
| 62 | TXRH | Texas Roadhouse Inc | $5M | 29.8K | 0.12% | — | New |
| 63 | SATS | Echostar Corp | $5M | 60.8K | 0.11% | — | New |
| 64 | YPF | Ypf Sociedad Anonima | $3M | 114.7K | 0.07% | −83.7% | Trimmed |
| 65 | CHYM | Chime Finl Inc | $872K | 43.2K | 0.02% | −90.7% | Trimmed |
33 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 |
|---|---|---|---|
| PM | Philip Morris Intl Inc | $149M | 816.0K |
| ENTG | Entegris Inc | $133M | 1.6M |
| COHR | Coherent Corp | $103M | 1.2M |
| MSFT | Microsoft Corp | $100M | 200.9K |
| LLY | Eli Lilly & Co | $78M | 100.7K |
| WBD | Warner Bros Discovery Inc | $75M | 6.5M |
| XLF | Select Sector Spdr Tr | $52M | 985.3K |
| CZR | Caesars Entertainment Inc Ne | $40M | 1.4M |
| DAL | Delta Air Lines Inc Del | $39M | 793.5K |
| GLW | Corning Inc | $33M | 623.1K |
| KMI | Kinder Morgan Inc Del | $32M | 1.1M |
| APP | Applovin Corp | $31M | 89.5K |
| UAL | United Airls Hldgs Inc | $30M | 377.1K |
| GS | Goldman Sachs Group Inc | $30M | 42.0K |
| BCS | Barclays Plc | $29M | 1.5M |
| ILMN | Illumina Inc | $29M | 300.6K |
| AVGO | Broadcom Inc | $24M | 86.1K |
| EWZ | Ishares Inc | $21M | 738.8K |
| HAS | Hasbro Inc | $21M | 281.1K |
| XPO | Xpo Inc | $21M | 163.1K |
| BMA | Banco Macro Sa | $16M | 220.9K |
| VKTX | Viking Therapeutics Inc | $15M | 549.3K |
| GGAL | Grupo Financiero Galicia S.A | $12M | 231.5K |
| BWXT | Bwx Technologies Inc | $11M | 76.5K |
| INSM | Insmed Inccall option | $10M | 100.0K |
| BLDR | Builders Firstsource Inc | $10M | 85.1K |
| FCX | Freeport-Mcmoran Inc | $10M | 224.8K |
| CCC | Ccc Intelligent Solutions Hl | $9M | 1.0M |
| — | Elbit Sys Ltd | $8M | 18.3K |
| TMO | Thermo Fisher Scientific Inc | $5M | 12.2K |
| DHR | Danaher Corporation | $5M | 24.7K |
| CC | Chemours Co | $5M | 421.8K |
| — | Joby Aviation Inc | $332K | 31.5K |
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.