Duquesne Family Office

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Stanley Druckenmiller's Duquesne Family Office reported 72 stock positions worth $2.9 billion. Its top holding was Natera (NTRA) at 15.9% of the portfolio, followed by Coupang (CPNG, 10.1%) and Coherent (COHR, 9.3%). Compared with Q2 2024, it opened 31 new positions, sold out of 22, added to 11 and reduced 19. The biggest buy was Natera (NTRA, shares +81%) and the biggest sale Vistra (VST, shares −85%).

Most Recent 13F
Q2 2026
Notable People
Stanley Druckenmiller
Location
New York, NY
CIK
0001536411
Portfolio Value
$2.9B (Q3 2024)
SEC Filing
0001536411-24-000009 ↗ filed Nov 14, 2024

Holdings Value

0$1.0B$2.0B$3.0B$4.0B$5.0B Q1 2024: $3.7B Q1 2024 Q2 2024: $2.8B Q2 2024 Q3 2024: $2.9B $2.9B Q3 2024 Q4 2024: $3.6B Q4 2024 Q1 2025: $3.0B Q1 2025 Q2 2025: $3.9B Q2 2025 Q3 2025: $3.9B Q3 2025 Q4 2025: $4.2B Q4 2025 Q1 2026: $2.9B Q1 2026 Q2 2026: $4.4B Q2 2026

Holdings 72 stocks · $2.9B
NTRA Natera Inc. 15.87% 3,566,850 $452.8M Add +80.6%
CPNG Coupang Inc. 10.06% 11,696,092 $287.1M Add +6.6%
COHR Coherent Corp. 9.28% 2,978,530 $264.8M Reduce -17.0%
WWD Woodward Inc. 6.36% 1,057,715 $181.4M Add +10.8%
STX Seagate Technology Holdings 6.30% 1,640,369 $179.7M Reduce -6.5%
PM Philip Morris International 4.83% 1,134,635 $137.7M Add +27.6%
KRE SS SPDR S&P Regional Bank 4.07% 2,053,323 $116.2M New
MELI MercadoLibre Inc. 3.46% 48,110 $98.7M Add +31.8%
FCX Freeport-McMoran Inc. 2.41% 1,376,935 $68.7M Add +19.4%
FLUT Flutter Entertainment PLC-Di 2.17% 260,953 $61.8M Reduce -22.1%
KMI Kinder Morgan Inc. 2.02% 2,612,000 $57.7M Reduce -61.3%
TECK Teck Resources Ltd.-CLS B 1.86% 1,017,085 $53.1M Reduce -30.0%
VST Vistra Corp. 1.63% 391,355 $46.4M Reduce -85.1%
AVGO Broadcom Inc. 1.45% 239,980 $41.4M New
DFS Discover Financial Services 1.40% 284,865 $40.0M Add +70.3%
ASND Ascendis Pharma A/S 1.39% 265,040 $39.6M New
MAA Mid-America Apartment Comm 1.33% 238,720 $37.9M Reduce -62.9%
CPT Camden Property Trust 1.26% 290,915 $35.9M Reduce -49.7%
DAKT Daktronics Inc. 1.16% 2,568,355 $33.2M Add +3.0%
WAB Wabtec Corp. 1.14% 179,650 $32.7M Add +19.2%
NVT Nvent Electric PLC 1.11% 451,065 $31.7M New
BMA Banco Macro SA-ADR 0.94% 424,130 $26.9M Add +55.3%
TEVA Teva Pharmaceutical-SP ADR 0.90% 1,427,950 $25.7M New
BCS Barclays PLC-Spons ADR 0.85% 2,007,755 $24.4M Reduce -3.3%
X United States Steel Corp. 0.82% 663,090 $23.4M New
SWTX Springworks Therapeutics Inc. 0.79% 705,066 $22.6M Reduce -31.0%
GTM Zoominfo Technologies Inc. 0.77% 2,140,726 $22.1M Reduce -63.6%
CNM Core & Main Inc. Class A 0.74% 475,195 $21.1M New
C Citigroup Inc. 0.72% 327,400 $20.5M New
VRNA Verona Pharma Ltd. 0.69% 686,045 $19.7M New
ARGT Global X MSCI Argentina ETF 0.66% 282,000 $18.7M No change
MSFT Microsoft Corp. 0.65% 43,095 $18.5M Reduce -89.2%
ADBE Adobe Inc. 0.63% 34,495 $17.9M Reduce -6.0%
CRNX Crinetics Pharmaceuticals Inc. 0.55% 309,000 $15.8M No change
CRH CRH PLC 0.53% 162,500 $15.1M New
GGAL Grupo Financiero Galicia-ADR 0.52% 355,263 $15.0M Reduce -25.3%
PANW Palo Alto Networks Inc. 0.52% 43,712 $14.9M Reduce -50.9%
WULF Terawulf Inc. 0.48% 2,944,451 $13.8M Add +40.9%
FLEX Flex Ltd. 0.41% 348,900 $11.7M Reduce -75.9%
CB Chubb Ltd. 0.35% 34,800 $10.0M New
ADSK Autodesk Inc. 0.35% 36,400 $10.0M New
MTB M & T Bank Corp. filed as M & T BK CORP 0.35% 56,200 $10.0M New
TFC Truist Financial Corp. 0.35% 233,500 $10.0M New
TSM Taiwan Semiconductor-SP ADR 0.35% 57,355 $10.0M New
USB US Bancorp 0.35% 217,400 $9.9M New
HBAN Huntington Bancshares Inc. 0.35% 671,200 $9.9M New
CFG Citizens Financial Group 0.34% 238,600 $9.8M New
KEY Keycorp 0.34% 583,900 $9.8M New
FHN First Horizon Corp. 0.34% 619,700 $9.6M New
ABCB Ameris Bancorp 0.34% 154,000 $9.6M New
FCNCA First Citizens Bcshs Class A 0.33% 5,183 $9.5M New
YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA 0.32% 430,100 $9.1M Reduce -32.6%
SPRY Ars Pharmaceuticals Inc. 0.27% 536,900 $7.8M New
GEV GE Vernova Inc. 0.26% 29,250 $7.5M Reduce -90.2%
SLN Silence Therapeutics PLC-ADR 0.25% 387,400 $7.0M No change
ACLX Arcellx Inc. 0.22% 74,100 $6.2M No change
TRP TC Energy Corp. 0.19% 115,400 $5.5M New
SBUX Starbucks Corp. 0.18% 52,305 $5.1M New
XPO Xpo Inc. 0.18% 46,500 $5.0M New
PCVX Vaxcyte Inc. 0.17% 42,965 $4.9M New
WDC Western Digital Corp. 0.17% 71,405 $4.9M New
NAMS Newamsterdam Pharma Co. NV 0.17% 287,535 $4.8M New
RARE Ultragenyx Pharmaceutical Inc. 0.17% 85,445 $4.7M New
BCYC Bicycle Therapeutics PLC-ADR 0.15% 190,200 $4.3M No change
ARM Arm Holdings PLC-ADR 0.11% 21,610 $3.1M New
IHS Ihs Holding Ltd. 0.08% 770,310 $2.3M No change
TLSI Trisalus Life Sciences Inc. 0.07% 426,921 $2.0M No change
PLTR Palantir Technologies Inc. Class A 0.05% 41,710 $1.6M Reduce -94.6%
INSM Insmed Inc. 0.05% 20,000 $1.5M No change
NRIX Nurix Therapeutics Inc. 0.03% 44,200 $993K No change
IVVD Invivyd Inc. 0.02% 571,425 $583K No change
JOBY Joby Aviation Inc. 0.00% 22,492 $113K No change

Options reported separately and not counted above: PM calls ($57.3M), STX calls ($28.8M), TPG puts ($12.5M).

Portfolio Sells Q2 2024 → Q3 2024
VST Vistra Corp. Reduce -85.1% 1.63% −6.38
MSFT Microsoft Corp. Reduce -89.2% 0.65% −5.70
KMI Kinder Morgan Inc. Reduce -61.3% 2.02% −2.74
MAA Mid-America Apartment Comm Reduce -62.9% 1.33% −1.93
GTM Zoominfo Technologies Inc. Reduce -63.6% 0.77% −1.89
OPCH Option Care Health Inc. Sold out 0.00% −1.84
GEV GE Vernova Inc. Reduce -90.2% 0.26% −1.55
FLEX Flex Ltd. Reduce -75.9% 0.41% −1.11
CPT Camden Property Trust Reduce -49.7% 1.26% −0.98
NVDA Nvidia Corp. Sold out 0.00% −0.94
MSGE Madison Square Garden Entert Sold out 0.00% −0.84
NWSA News Corp. Class A Sold out 0.00% −0.67
ANET Arista Networks Inc. Sold out 0.00% −0.65
NWS News Corp. Class B Sold out 0.00% −0.64
PLTR Palantir Technologies Inc. Class A Reduce -94.6% 0.05% −0.64
TECK Teck Resources Ltd.-CLS B Reduce -30.0% 1.86% −0.61
SWTX Springworks Therapeutics Inc. Reduce -31.0% 0.79% −0.57
PANW Palo Alto Networks Inc. Reduce -50.9% 0.52% −0.55
BAH Booz Allen Hamilton Holdings Sold out 0.00% −0.46
IQV Iqvia Holdings Inc. Sold out 0.00% −0.45
LYV Live Nation Entertainment Inc. Sold out 0.00% −0.34
CNK Cinemark Holdings Inc. Sold out 0.00% −0.31
VCYT Veracyte Inc. Sold out 0.00% −0.20
AES AES Corp. Sold out 0.00% −0.20
AAPL Apple Inc. Sold out 0.00% −0.18
SGI Somnigroup International Inc. Sold out 0.00% −0.17
LBTYA Liberty Global Ltd. Class A Sold out 0.00% −0.17
SE Sea Ltd.-ADR Sold out 0.00% −0.17
LBTYK Liberty Global Ltd. Class C Sold out 0.00% −0.17
EQT Eqt Corp. Sold out 0.00% −0.16
SPHR Sphere Entertainment Co. Sold out 0.00% −0.15
BLDR Builders Firstsource Inc. Sold out 0.00% −0.14
YPF YPF S.A.-Sponsored ADR Reduce -32.6% 0.32% −0.14
STX Seagate Technology Holdings Reduce -6.5% 6.30% −0.13
ADBE Adobe Inc. Reduce -6.0% 0.63% −0.10
GPCR Structure Therapeutics Inc. Sold out 0.00% −0.05
TEO Telecom Argentina SA-SP ADR Sold out 0.00% −0.04
FLUT Flutter Entertainment PLC-Di Reduce -22.1% 2.17% −0.00
GGAL Grupo Financiero Galicia-ADR Reduce -25.3% 0.52% +0.01
COHR Coherent Corp. Reduce -17.0% 9.28% +0.06
BCS Barclays PLC-Spons ADR Reduce -3.3% 0.85% +0.07

Portfolio Buys Q2 2024 → Q3 2024
NTRA Natera Inc. Add +80.6% 15.87% +8.28
KRE SS SPDR S&P Regional Bank New 4.07% +4.07
CPNG Coupang Inc. Add +6.6% 10.06% +1.91
PM Philip Morris International Add +27.6% 4.83% +1.63
AVGO Broadcom Inc. New 1.45% +1.45
ASND Ascendis Pharma A/S New 1.39% +1.39
MELI MercadoLibre Inc. Add +31.8% 3.46% +1.33
NVT Nvent Electric PLC New 1.11% +1.11
TEVA Teva Pharmaceutical-SP ADR New 0.90% +0.90
X United States Steel Corp. New 0.82% +0.82
CNM Core & Main Inc. Class A New 0.74% +0.74
C Citigroup Inc. New 0.72% +0.72
VRNA Verona Pharma Ltd. New 0.69% +0.69
DFS Discover Financial Services Add +70.3% 1.40% +0.62
CRH CRH PLC New 0.53% +0.53
WWD Woodward Inc. Add +10.8% 6.36% +0.46
FCX Freeport-McMoran Inc. Add +19.4% 2.41% +0.42
BMA Banco Macro SA-ADR Add +55.3% 0.94% +0.39
CB Chubb Ltd. New 0.35% +0.35
ADSK Autodesk Inc. New 0.35% +0.35
MTB M & T Bank Corp. New 0.35% +0.35
TFC Truist Financial Corp. New 0.35% +0.35
TSM Taiwan Semiconductor-SP ADR New 0.35% +0.35
USB US Bancorp New 0.35% +0.35
HBAN Huntington Bancshares Inc. New 0.35% +0.35
CFG Citizens Financial Group New 0.34% +0.34
KEY Keycorp New 0.34% +0.34
FHN First Horizon Corp. New 0.34% +0.34
ABCB Ameris Bancorp New 0.34% +0.34
FCNCA First Citizens Bcshs Class A New 0.33% +0.33
WAB Wabtec Corp. Add +19.2% 1.14% +0.30
SPRY Ars Pharmaceuticals Inc. New 0.27% +0.27
TRP TC Energy Corp. New 0.19% +0.19
SBUX Starbucks Corp. New 0.18% +0.18
XPO Xpo Inc. New 0.18% +0.18
PCVX Vaxcyte Inc. New 0.17% +0.17
WDC Western Digital Corp. New 0.17% +0.17
NAMS Newamsterdam Pharma Co. NV New 0.17% +0.17
RARE Ultragenyx Pharmaceutical Inc. New 0.17% +0.17
WULF Terawulf Inc. Add +40.9% 0.48% +0.15
ARM Arm Holdings PLC-ADR New 0.11% +0.11
DAKT Daktronics Inc. Add +3.0% 1.16% −0.07

Options Activity Q2 2024 → Q3 2024
PM Philip Morris International call Reduce -51.0% 472,200 $57.3M
STX Seagate Technology Holdings call New 263,000 $28.8M
TPG TPG Inc. put New 217,500 $12.5M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 86$4.4BNTRA, TSM, STM, INSM, YPF
Q1 2026 65$2.9BNTRA, INSM, TSM, YPF, EWZ
Q4 2025 58$4.2BNTRA, XLF, INSM, RSP, TEVA
Q3 2025 62$3.9BNTRA, INSM, TEVA, TSM, WWD
Q2 2025 65$3.9BNTRA, TEVA, INSM, WWD, TSM
Q1 2025 49$3.0BNTRA, TEVA, CPNG, WWD, PM
Q4 2024 74$3.6BNTRA, COHR, WWD, TEVA, CPNG
Q3 2024 72$2.9BNTRA, CPNG, COHR, WWD, STX
Q2 2024 63$2.8BCOHR, CPNG, VST, NTRA, STX
Q1 2024 72$3.7BMSFT, CPNG, TECK, VST, NTRA