Duquesne Family Office
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Stanley Druckenmiller's Duquesne Family Office reported 74 stock positions worth $3.6 billion. Its top holding was Natera (NTRA) at 15.9% of the portfolio, followed by Coherent (COHR, 7.5%) and Woodward (WWD, 5.7%). Compared with Q3 2024, it opened 21 new positions, sold out of 19, added to 22 and reduced 15. The biggest buy was Teva Pharmaceutical-SP ADR (TEVA, shares +530%) and the biggest sale Coupang (CPNG, shares −24%).
- Most Recent 13F
- Q2 2026
- Notable People
- Stanley Druckenmiller
- Location
- New York, NY
- CIK
- 0001536411
- Portfolio Value
- $3.6B (Q4 2024)
- SEC Filing
- 0001536411-25-000006 ↗ filed Feb 14, 2025
Holdings Value
Holdings 74 stocks · $3.6B
| NTRA Natera Inc. | 15.88% | 3,566,850 | $564.6M | No change |
| COHR Coherent Corp. | 7.52% | 2,820,930 | $267.2M | Reduce -5.3% |
| WWD Woodward Inc. | 5.74% | 1,225,750 | $204.0M | Add +15.9% |
| TEVA Teva Pharmaceutical-SP ADR | 5.58% | 8,997,400 | $198.3M | Add +530.1% |
| CPNG Coupang Inc. | 5.50% | 8,902,649 | $195.7M | Reduce -23.9% |
| PM Philip Morris International | 4.58% | 1,352,255 | $162.7M | Add +19.2% |
| STX Seagate Technology Holdings | 3.80% | 1,564,076 | $135.0M | Reduce -4.7% |
| UAL United Airlines Holdings Inc. | 2.85% | 1,043,805 | $101.4M | New |
| MELI MercadoLibre Inc. | 2.57% | 53,725 | $91.4M | Add +11.7% |
| SKX Skechers USA Inc. Class A | 2.03% | 1,074,840 | $72.3M | New |
| AMZN Amazon.com Inc. | 2.03% | 328,400 | $72.0M | New |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 2.02% | 1,687,716 | $71.7M | Add +292.4% |
| SLM SLM Corp. | 1.96% | 2,520,275 | $69.5M | New |
| KMI Kinder Morgan Inc. | 1.72% | 2,225,300 | $61.0M | Reduce -14.8% |
| X United States Steel Corp. | 1.54% | 1,610,040 | $54.7M | Add +142.8% |
| WAB Wabtec Corp. | 1.49% | 280,060 | $53.1M | Add +55.9% |
| DAL Delta Air Lines Inc. | 1.39% | 817,740 | $49.5M | New |
| WBD Warner Bros Discovery Inc. | 1.38% | 4,657,650 | $49.2M | New |
| LLY Eli Lilly & Co. | 1.35% | 62,190 | $48.0M | New |
| BMA Banco Macro SA-ADR | 1.32% | 485,430 | $47.0M | Add +14.4% |
| ARGT Global X MSCI Argentina ETF | 1.28% | 548,800 | $45.4M | Add +94.6% |
| DAKT Daktronics Inc. | 1.25% | 2,625,105 | $44.3M | Add +2.2% |
| BCS Barclays PLC-Spons ADR | 1.19% | 3,186,855 | $42.4M | Add +58.7% |
| VRNA Verona Pharma Ltd. | 1.16% | 887,580 | $41.2M | Add +29.4% |
| INSM Insmed Inc. | 1.15% | 593,470 | $41.0M | Add +2867.3% |
| VST Vistra Corp. | 1.10% | 283,355 | $39.1M | Reduce -27.6% |
| ASND Ascendis Pharma A/S | 1.03% | 265,040 | $36.5M | No change |
| BN Brookfield Corp. | 0.99% | 610,225 | $35.1M | New |
| MU Micron Technology Inc. | 0.97% | 408,885 | $34.4M | New |
| KRE SS SPDR S&P Regional Bank | 0.94% | 554,138 | $33.4M | Reduce -73.0% |
| BWXT BWX Technologies Inc. | 0.94% | 299,171 | $33.3M | New |
| GEV GE Vernova Inc. | 0.92% | 99,750 | $32.8M | Add +241.0% |
| SWTX Springworks Therapeutics Inc. | 0.87% | 859,694 | $31.1M | Add +21.9% |
| NVT Nvent Electric PLC | 0.86% | 451,065 | $30.7M | No change |
| FCX Freeport-McMoran Inc. | 0.81% | 758,905 | $28.9M | Reduce -44.9% |
| GGAL Grupo Financiero Galicia-ADR | 0.79% | 448,663 | $28.0M | Add +26.3% |
| DFS Discover Financial Services | 0.72% | 146,970 | $25.5M | Reduce -48.4% |
| WDC Western Digital Corp. | 0.70% | 417,160 | $24.9M | Add +484.2% |
| USB US Bancorp | 0.68% | 503,595 | $24.1M | Add +131.6% |
| ARM Arm Holdings PLC-ADR | 0.62% | 178,394 | $22.0M | Add +725.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.60% | 107,515 | $21.2M | Add +87.5% |
| GTM Zoominfo Technologies Inc. | 0.52% | 1,761,926 | $18.5M | Reduce -17.7% |
| TECK Teck Resources Ltd.-CLS B | 0.49% | 431,545 | $17.5M | Reduce -57.6% |
| PCT Purecycle Technologies Inc. | 0.46% | 1,592,500 | $16.3M | New |
| AAL American Airlines Group Inc. | 0.45% | 919,928 | $16.0M | New |
| PANW Palo Alto Networks Inc. | 0.45% | 87,424 | $15.9M | No change |
| TSLA Tesla Inc. | 0.43% | 37,675 | $15.2M | New |
| GOOGL Alphabet Inc. Class A | 0.41% | 76,680 | $14.5M | New |
| FLEX Flex Ltd. | 0.38% | 348,900 | $13.4M | No change |
| FHN First Horizon Corp. | 0.35% | 619,700 | $12.5M | No change |
| WFC Wells Fargo & Co. | 0.31% | 157,100 | $11.0M | New |
| FCNCA First Citizens Bcshs Class A | 0.31% | 5,183 | $11.0M | No change |
| HBAN Huntington Bancshares Inc. | 0.31% | 671,200 | $10.9M | No change |
| LYV Live Nation Entertainment Inc. | 0.29% | 79,635 | $10.3M | New |
| TFC Truist Financial Corp. | 0.28% | 233,500 | $10.1M | No change |
| ABCB Ameris Bancorp | 0.27% | 154,000 | $9.6M | No change |
| KEY Keycorp | 0.25% | 527,000 | $9.0M | Reduce -9.7% |
| WULF Terawulf Inc. | 0.23% | 1,472,225 | $8.3M | Reduce -50.0% |
| NAMS Newamsterdam Pharma Co. NV | 0.21% | 287,535 | $7.4M | No change |
| PCVX Vaxcyte Inc. | 0.20% | 86,265 | $7.1M | Add +100.8% |
| CRNX Crinetics Pharmaceuticals Inc. | 0.18% | 122,700 | $6.3M | Reduce -60.3% |
| MIR Mirion Technologies Inc. | 0.17% | 342,700 | $6.0M | New |
| SNREY Sunrise Communicat Class A | 0.16% | 133,152 | $5.7M | New |
| ACLX Arcellx Inc. | 0.16% | 74,100 | $5.7M | No change |
| C Citigroup Inc. | 0.14% | 72,655 | $5.1M | Reduce -77.8% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.14% | 467,255 | $4.8M | New |
| ELF Elf Beauty Inc. | 0.13% | 37,300 | $4.7M | New |
| FLUT Flutter Entertainment PLC-Di | 0.13% | 18,100 | $4.7M | Reduce -93.1% |
| IQV Iqvia Holdings Inc. | 0.12% | 21,500 | $4.2M | New |
| RARE Ultragenyx Pharmaceutical Inc. | 0.10% | 85,445 | $3.6M | No change |
| PLTR Palantir Technologies Inc. Class A | 0.09% | 41,710 | $3.2M | No change |
| TLSI Trisalus Life Sciences Inc. | 0.06% | 426,921 | $2.1M | No change |
| JOBY Joby Aviation Inc. | 0.01% | 31,489 | $256K | Add +40.0% |
| IVVD Invivyd Inc. | 0.01% | 571,425 | $253K | No change |
Options reported separately and not counted above: DAL calls ($57.4M), AAL calls ($44.9M), STX calls ($44.0M), UAL calls ($21.9M).
Portfolio Sells Q3 2024 → Q4 2024
| CPNG Coupang Inc. | Reduce -23.9% | 5.50% | −4.56 |
| KRE SS SPDR S&P Regional Bank | Reduce -73.0% | 0.94% | −3.13 |
| STX Seagate Technology Holdings | Reduce -4.7% | 3.80% | −2.50 |
| FLUT Flutter Entertainment PLC-Di | Reduce -93.1% | 0.13% | −2.03 |
| COHR Coherent Corp. | Reduce -5.3% | 7.52% | −1.76 |
| FCX Freeport-McMoran Inc. | Reduce -44.9% | 0.81% | −1.60 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −1.45 |
| TECK Teck Resources Ltd.-CLS B | Reduce -57.6% | 0.49% | −1.37 |
| MAA Mid-America Apartment Comm | Sold out | 0.00% | −1.33 |
| CPT Camden Property Trust | Sold out | 0.00% | −1.26 |
| CNM Core & Main Inc. Class A | Sold out | 0.00% | −0.74 |
| DFS Discover Financial Services | Reduce -48.4% | 0.72% | −0.68 |
| MSFT Microsoft Corp. | Sold out | 0.00% | −0.65 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.63 |
| C Citigroup Inc. | Reduce -77.8% | 0.14% | −0.57 |
| CRH CRH PLC | Sold out | 0.00% | −0.53 |
| VST Vistra Corp. | Reduce -27.6% | 1.10% | −0.53 |
| CRNX Crinetics Pharmaceuticals Inc. | Reduce -60.3% | 0.18% | −0.38 |
| CB Chubb Ltd. | Sold out | 0.00% | −0.35 |
| ADSK Autodesk Inc. | Sold out | 0.00% | −0.35 |
| MTB M & T Bank Corp. | Sold out | 0.00% | −0.35 |
| CFG Citizens Financial Group | Sold out | 0.00% | −0.34 |
| KMI Kinder Morgan Inc. | Reduce -14.8% | 1.72% | −0.31 |
| SPRY Ars Pharmaceuticals Inc. | Sold out | 0.00% | −0.27 |
| GTM Zoominfo Technologies Inc. | Reduce -17.7% | 0.52% | −0.25 |
| WULF Terawulf Inc. | Reduce -50.0% | 0.23% | −0.25 |
| SLN Silence Therapeutics PLC-ADR | Sold out | 0.00% | −0.25 |
| TRP TC Energy Corp. | Sold out | 0.00% | −0.19 |
| SBUX Starbucks Corp. | Sold out | 0.00% | −0.18 |
| XPO Xpo Inc. | Sold out | 0.00% | −0.18 |
| BCYC Bicycle Therapeutics PLC-ADR | Sold out | 0.00% | −0.15 |
| KEY Keycorp | Reduce -9.7% | 0.25% | −0.09 |
| IHS Ihs Holding Ltd. | Sold out | 0.00% | −0.08 |
| NRIX Nurix Therapeutics Inc. | Sold out | 0.00% | −0.03 |
Portfolio Buys Q3 2024 → Q4 2024
| TEVA Teva Pharmaceutical-SP ADR | Add +530.1% | 5.58% | +4.68 |
| UAL United Airlines Holdings Inc. | New | 2.85% | +2.85 |
| SKX Skechers USA Inc. Class A | New | 2.03% | +2.03 |
| AMZN Amazon.com Inc. | New | 2.03% | +2.03 |
| SLM SLM Corp. | New | 1.96% | +1.96 |
| YPF YPF S.A.-Sponsored ADR | Add +292.4% | 2.02% | +1.70 |
| DAL Delta Air Lines Inc. | New | 1.39% | +1.39 |
| WBD Warner Bros Discovery Inc. | New | 1.38% | +1.38 |
| LLY Eli Lilly & Co. | New | 1.35% | +1.35 |
| INSM Insmed Inc. | Add +2867.3% | 1.15% | +1.10 |
| BN Brookfield Corp. | New | 0.99% | +0.99 |
| MU Micron Technology Inc. | New | 0.97% | +0.97 |
| BWXT BWX Technologies Inc. | New | 0.94% | +0.94 |
| X United States Steel Corp. | Add +142.8% | 1.54% | +0.72 |
| GEV GE Vernova Inc. | Add +241.0% | 0.92% | +0.66 |
| ARGT Global X MSCI Argentina ETF | Add +94.6% | 1.28% | +0.62 |
| WDC Western Digital Corp. | Add +484.2% | 0.70% | +0.53 |
| ARM Arm Holdings PLC-ADR | Add +725.5% | 0.62% | +0.51 |
| VRNA Verona Pharma Ltd. | Add +29.4% | 1.16% | +0.47 |
| PCT Purecycle Technologies Inc. | New | 0.46% | +0.46 |
| AAL American Airlines Group Inc. | New | 0.45% | +0.45 |
| TSLA Tesla Inc. | New | 0.43% | +0.43 |
| GOOGL Alphabet Inc. Class A | New | 0.41% | +0.41 |
| BMA Banco Macro SA-ADR | Add +14.4% | 1.32% | +0.38 |
| WAB Wabtec Corp. | Add +55.9% | 1.49% | +0.35 |
| BCS Barclays PLC-Spons ADR | Add +58.7% | 1.19% | +0.34 |
| USB US Bancorp | Add +131.6% | 0.68% | +0.33 |
| WFC Wells Fargo & Co. | New | 0.31% | +0.31 |
| LYV Live Nation Entertainment Inc. | New | 0.29% | +0.29 |
| GGAL Grupo Financiero Galicia-ADR | Add +26.3% | 0.79% | +0.26 |
| TSM Taiwan Semiconductor-SP ADR | Add +87.5% | 0.60% | +0.25 |
| MIR Mirion Technologies Inc. | New | 0.17% | +0.17 |
| SNREY Sunrise Communicat Class A | New | 0.16% | +0.16 |
| NU Nu Holdings Ltd./Cayman Isl-A | New | 0.14% | +0.14 |
| ELF Elf Beauty Inc. | New | 0.13% | +0.13 |
| IQV Iqvia Holdings Inc. | New | 0.12% | +0.12 |
| DAKT Daktronics Inc. | Add +2.2% | 1.25% | +0.08 |
| SWTX Springworks Therapeutics Inc. | Add +21.9% | 0.87% | +0.08 |
| PCVX Vaxcyte Inc. | Add +100.8% | 0.20% | +0.03 |
| JOBY Joby Aviation Inc. | Add +40.0% | 0.01% | +0.00 |
| PM Philip Morris International | Add +19.2% | 4.58% | −0.25 |
| WWD Woodward Inc. | Add +15.9% | 5.74% | −0.62 |
| MELI MercadoLibre Inc. | Add +11.7% | 2.57% | −0.89 |
Options Activity Q3 2024 → Q4 2024
| DAL Delta Air Lines Inc. | call | New | 949,500 | $57.4M |
| PM Philip Morris International | call | Sold out | 472,200 | $57.3Mbefore exit |
| AAL American Airlines Group Inc. | call | New | 2,573,500 | $44.9M |
| STX Seagate Technology Holdings | call | Add +93.7% | 509,500 | $44.0M |
| UAL United Airlines Holdings Inc. | call | New | 226,000 | $21.9M |
| TPG TPG Inc. | put | Sold out | 217,500 | $12.5Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 86 | $4.4B | NTRA, TSM, STM, INSM, YPF |
| Q1 2026 | 65 | $2.9B | NTRA, INSM, TSM, YPF, EWZ |
| Q4 2025 | 58 | $4.2B | NTRA, XLF, INSM, RSP, TEVA |
| Q3 2025 | 62 | $3.9B | NTRA, INSM, TEVA, TSM, WWD |
| Q2 2025 | 65 | $3.9B | NTRA, TEVA, INSM, WWD, TSM |
| Q1 2025 | 49 | $3.0B | NTRA, TEVA, CPNG, WWD, PM |
| Q4 2024 | 74 | $3.6B | NTRA, COHR, WWD, TEVA, CPNG |
| Q3 2024 | 72 | $2.9B | NTRA, CPNG, COHR, WWD, STX |
| Q2 2024 | 63 | $2.8B | COHR, CPNG, VST, NTRA, STX |
| Q1 2024 | 72 | $3.7B | MSFT, CPNG, TECK, VST, NTRA |