Duquesne Family Office
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Stanley Druckenmiller's Duquesne Family Office reported 65 stock positions worth $2.9 billion. Its top holding was Natera (NTRA) at 20.9% of the portfolio, followed by Insmed (INSM, 6.4%) and Taiwan Semiconductor-SP ADR (TSM, 5.7%). Compared with Q4 2025, it opened 30 new positions, sold out of 23, added to 12 and reduced 18. The biggest buy was Natera (NTRA, shares +22%) and the biggest sale an exit from SS Financial Select Sector (XLF).
- Most Recent 13F
- Q2 2026
- Notable People
- Stanley Druckenmiller
- Location
- New York, NY
- CIK
- 0001536411
- Portfolio Value
- $2.9B (Q1 2026)
- SEC Filing
- 0001536411-26-000004 ↗ filed May 15, 2026
Holdings Value
Holdings 65 stocks · $2.9B
| NTRA Natera Inc. | 20.86% | 3,063,606 | $612.7M | Add +22.0% |
| INSM Insmed Inc. | 6.43% | 1,154,090 | $188.7M | Reduce -22.1% |
| TSM Taiwan Semiconductor-SP ADR | 5.70% | 495,280 | $167.4M | Reduce -8.8% |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 5.09% | 3,235,962 | $149.6M | Add +433.1% |
| EWZ iShares MSCI Brazil ETF | 4.49% | 3,436,170 | $131.9M | Reduce -3.3% |
| TBBB BBB Foods Inc. Class A | 3.74% | 3,109,202 | $110.0M | Add +16.2% |
| AA Alcoa Corp. | 3.37% | 1,493,390 | $99.1M | Add +8.5% |
| NAMS Newamsterdam Pharma Co. NV | 3.35% | 3,070,146 | $98.3M | No change |
| SE Sea Ltd.-ADR | 3.10% | 1,099,905 | $91.1M | Add +16.5% |
| STM Stmicroelectronics NV-NY SHS | 3.07% | 2,612,880 | $90.3M | Add +237.8% |
| WWD Woodward Inc. | 2.58% | 211,355 | $75.6M | Reduce -64.2% |
| TEVA Teva Pharmaceutical-SP ADR | 2.44% | 2,377,285 | $71.6M | Reduce -59.5% |
| ROKU Roku Inc. | 2.42% | 750,190 | $71.0M | Add +28.7% |
| AVGO Broadcom Inc. | 2.06% | 195,955 | $60.6M | New |
| CPNG Coupang Inc. | 1.71% | 2,667,485 | $50.4M | Reduce -60.6% |
| OPCH Option Care Health Inc. | 1.71% | 1,868,550 | $50.3M | Add +7.0% |
| CRH CRH PLC | 1.35% | 377,555 | $39.7M | Reduce -20.5% |
| FIGR Figure Technology Solut Class A | 1.33% | 1,150,415 | $39.1M | Reduce -25.3% |
| ARGT Global X MSCI Argentina ETF | 1.23% | 387,400 | $36.2M | New |
| CAI Caris Life Sciences Inc. | 1.15% | 1,894,450 | $33.9M | New |
| QSR Restaurant Brands Intern | 1.14% | 454,435 | $33.6M | Reduce -62.4% |
| RVMD Revolution Medicines Inc. | 1.05% | 315,860 | $30.7M | New |
| LSCC Lattice Semiconductor Corp. | 1.02% | 323,135 | $30.0M | Reduce -65.1% |
| SNDK Sandisk Corp. | 0.83% | 38,155 | $24.2M | New |
| UAL United Airlines Holdings Inc. | 0.82% | 262,495 | $24.2M | Reduce -24.7% |
| HUM Humana Inc. | 0.81% | 137,505 | $23.8M | New |
| WAB Wabtec Corp. | 0.81% | 94,895 | $23.7M | Reduce -68.4% |
| TWLO Twilio Inc. Class A | 0.78% | 181,760 | $22.9M | New |
| JBL Jabil Inc. | 0.74% | 82,200 | $21.8M | New |
| SCCO Southern Copper Corp. | 0.71% | 121,843 | $21.0M | Add +0.8% |
| GSG iShares S&P Gsci Commodity I | 0.71% | 643,000 | $20.7M | New |
| LIN Linde PLC | 0.70% | 41,200 | $20.4M | New |
| STX Seagate Technology Holdings | 0.68% | 50,700 | $19.9M | New |
| CLF Cleveland-Cliffs Inc. | 0.67% | 2,313,455 | $19.5M | Add +32.5% |
| NUVB Nuvation Bio Inc. | 0.66% | 4,539,800 | $19.5M | New |
| BE Bloom Energy Corp. Class A | 0.63% | 136,320 | $18.5M | Reduce -81.6% |
| INTC Intel Corp. | 0.62% | 411,400 | $18.2M | New |
| BLTE Belite Bio Inc. - ADR | 0.58% | 106,100 | $16.9M | New |
| PTGX Protagonist Therapeutics Inc. | 0.57% | 159,700 | $16.8M | No change |
| U Unity Software Inc. | 0.55% | 738,785 | $16.2M | Add +80.2% |
| ARM Arm Holdings PLC-ADR | 0.55% | 106,700 | $16.1M | New |
| OLMA Olema Pharmaceuticals Inc. | 0.50% | 986,827 | $14.7M | New |
| Q Qnity Electronics Inc. | 0.49% | 125,655 | $14.5M | New |
| ADMA Adma Biologics Inc. | 0.47% | 1,545,610 | $13.9M | Add +512.9% |
| XENE Xenon Pharmaceuticals Inc. | 0.47% | 238,600 | $13.9M | New |
| JBS JBS NV-A | 0.40% | 655,900 | $11.8M | New |
| DAKT Daktronics Inc. | 0.37% | 562,637 | $11.0M | Reduce -34.0% |
| NET Cloudflare Inc. Class A | 0.37% | 52,535 | $10.8M | New |
| LYB Lyondellbasell Indu Class A | 0.36% | 131,435 | $10.6M | New |
| VIST Vista Energy Sab DE CV | 0.35% | 134,700 | $10.2M | New |
| TWST Twist Bioscience Corp. | 0.33% | 206,000 | $9.8M | New |
| COHR Coherent Corp. | 0.33% | 40,400 | $9.6M | New |
| AMZN Amazon.com Inc. | 0.32% | 45,800 | $9.5M | Reduce -93.8% |
| CLS Celestica Inc. | 0.32% | 33,275 | $9.4M | New |
| STUB Stubhub Holdings Inc. Class A | 0.29% | 1,367,177 | $8.5M | Reduce -40.7% |
| DBVT DBV Technologies SA-Spon ADR | 0.27% | 383,363 | $8.0M | New |
| MU Micron Technology Inc. | 0.27% | 23,400 | $7.9M | New |
| ECHO Echostar Corp. Class A | 0.24% | 60,765 | $7.1M | No change |
| ALM Almonty Industries Inc. | 0.23% | 469,880 | $6.8M | No change |
| PCT Purecycle Technologies Inc. | 0.17% | 963,189 | $5.0M | Reduce -66.5% |
| LITE Lumentum Holdings Inc. | 0.17% | 6,963 | $4.9M | New |
| MELI MercadoLibre Inc. | 0.16% | 2,766 | $4.8M | Reduce -94.1% |
| SOLS Solstice Adv Materials Inc. | 0.16% | 62,525 | $4.8M | New |
| WLK Westlake Corp. | 0.08% | 21,194 | $2.5M | New |
| WVE Wave Life Sciences Ltd. | 0.04% | 173,000 | $1.3M | No change |
Options reported separately and not counted above: EWZ calls ($162.3M), RSP calls ($157.6M), SPY calls ($58.5M), AMZN calls ($41.7M), IWM calls ($19.6M).
Portfolio Sells Q4 2025 → Q1 2026
| XLF SS Financial Select Sector | Sold out | 0.00% | −7.13 |
| RSP Invesco S&P 500 Equal Weight | Sold out | 0.00% | −5.33 |
| AMZN Amazon.com Inc. | Reduce -93.8% | 0.32% | −3.71 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −2.86 |
| MELI MercadoLibre Inc. | Reduce -94.1% | 0.16% | −2.09 |
| CPNG Coupang Inc. | Reduce -60.6% | 1.71% | −2.07 |
| TEVA Teva Pharmaceutical-SP ADR | Reduce -59.5% | 2.44% | −1.91 |
| COGT Cogent Biosciences Inc. | Sold out | 0.00% | −1.86 |
| ENTG Entegris Inc. | Sold out | 0.00% | −1.69 |
| WWD Woodward Inc. | Reduce -64.2% | 2.58% | −1.66 |
| DOCU Docusign Inc. | Sold out | 0.00% | −1.65 |
| EEM iShares MSCI Emerging Market | Sold out | 0.00% | −1.17 |
| DAL Delta Air Lines Inc. | Sold out | 0.00% | −1.07 |
| BE Bloom Energy Corp. Class A | Reduce -81.6% | 0.63% | −0.90 |
| QSR Restaurant Brands Intern | Reduce -62.4% | 1.14% | −0.81 |
| WAB Wabtec Corp. | Reduce -68.4% | 0.81% | −0.71 |
| ON On Semiconductor | Sold out | 0.00% | −0.69 |
| LSCC Lattice Semiconductor Corp. | Reduce -65.1% | 1.02% | −0.59 |
| FLUT Flutter Entertainment PLC-Di | Sold out | 0.00% | −0.59 |
| AEVA Aeva Technologies Inc. | Sold out | 0.00% | −0.57 |
| GS Goldman Sachs Group Inc. | Sold out | 0.00% | −0.57 |
| STUB Stubhub Holdings Inc. Class A | Reduce -40.7% | 0.29% | −0.45 |
| PCT Purecycle Technologies Inc. | Reduce -66.5% | 0.17% | −0.42 |
| RH RH | Sold out | 0.00% | −0.37 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −0.34 |
| Z Zillow Group Inc. Class C | Sold out | 0.00% | −0.31 |
| CDTX Cidara Therapeutics Inc. | Sold out | 0.00% | −0.26 |
| PM Philip Morris International | Sold out | 0.00% | −0.26 |
| AAL American Airlines Group Inc. | Sold out | 0.00% | −0.23 |
| AGX Argan Inc. | Sold out | 0.00% | −0.22 |
| DASH DoorDash Inc. Class A | Sold out | 0.00% | −0.19 |
| PGNY Progyny Inc. | Sold out | 0.00% | −0.18 |
| FIGR Figure Technology Solut Class A | Reduce -25.3% | 1.33% | −0.16 |
| UAL United Airlines Holdings Inc. | Reduce -24.7% | 0.82% | −0.10 |
| WOLF Wolfspeed Inc. | Sold out | 0.00% | −0.08 |
| CRH CRH PLC | Reduce -20.5% | 1.35% | −0.05 |
| DAKT Daktronics Inc. | Reduce -34.0% | 0.37% | −0.03 |
| NP Neptune Insurance Holdi Class A | Sold out | 0.00% | −0.01 |
| INSM Insmed Inc. | Reduce -22.1% | 6.43% | +0.31 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -8.8% | 5.70% | +1.79 |
| EWZ iShares MSCI Brazil ETF | Reduce -3.3% | 4.49% | +1.82 |
Portfolio Buys Q4 2025 → Q1 2026
| NTRA Natera Inc. | Add +22.0% | 20.86% | +7.23 |
| YPF YPF S.A.-Sponsored ADR | Add +433.1% | 5.09% | +4.57 |
| STM Stmicroelectronics NV-NY SHS | Add +237.8% | 3.07% | +2.60 |
| AVGO Broadcom Inc. | New | 2.06% | +2.06 |
| AA Alcoa Corp. | Add +8.5% | 3.37% | +1.64 |
| TBBB BBB Foods Inc. Class A | Add +16.2% | 3.74% | +1.63 |
| ARGT Global X MSCI Argentina ETF | New | 1.23% | +1.23 |
| CAI Caris Life Sciences Inc. | New | 1.15% | +1.15 |
| RVMD Revolution Medicines Inc. | New | 1.05% | +1.05 |
| ROKU Roku Inc. | Add +28.7% | 2.42% | +0.92 |
| SNDK Sandisk Corp. | New | 0.83% | +0.83 |
| HUM Humana Inc. | New | 0.81% | +0.81 |
| TWLO Twilio Inc. Class A | New | 0.78% | +0.78 |
| JBL Jabil Inc. | New | 0.74% | +0.74 |
| GSG iShares S&P Gsci Commodity I | New | 0.71% | +0.71 |
| LIN Linde PLC | New | 0.70% | +0.70 |
| STX Seagate Technology Holdings | New | 0.68% | +0.68 |
| NUVB Nuvation Bio Inc. | New | 0.66% | +0.66 |
| INTC Intel Corp. | New | 0.62% | +0.62 |
| BLTE Belite Bio Inc. - ADR | New | 0.58% | +0.58 |
| ARM Arm Holdings PLC-ADR | New | 0.55% | +0.55 |
| OLMA Olema Pharmaceuticals Inc. | New | 0.50% | +0.50 |
| Q Qnity Electronics Inc. | New | 0.49% | +0.49 |
| XENE Xenon Pharmaceuticals Inc. | New | 0.47% | +0.47 |
| JBS JBS NV-A | New | 0.40% | +0.40 |
| OPCH Option Care Health Inc. | Add +7.0% | 1.71% | +0.39 |
| NET Cloudflare Inc. Class A | New | 0.37% | +0.37 |
| ADMA Adma Biologics Inc. | Add +512.9% | 0.47% | +0.37 |
| LYB Lyondellbasell Indu Class A | New | 0.36% | +0.36 |
| VIST Vista Energy Sab DE CV | New | 0.35% | +0.35 |
| TWST Twist Bioscience Corp. | New | 0.33% | +0.33 |
| COHR Coherent Corp. | New | 0.33% | +0.33 |
| CLS Celestica Inc. | New | 0.32% | +0.32 |
| SCCO Southern Copper Corp. | Add +0.8% | 0.71% | +0.30 |
| DBVT DBV Technologies SA-Spon ADR | New | 0.27% | +0.27 |
| MU Micron Technology Inc. | New | 0.27% | +0.27 |
| SE Sea Ltd.-ADR | Add +16.5% | 3.10% | +0.25 |
| LITE Lumentum Holdings Inc. | New | 0.17% | +0.17 |
| SOLS Solstice Adv Materials Inc. | New | 0.16% | +0.16 |
| U Unity Software Inc. | Add +80.2% | 0.55% | +0.12 |
| CLF Cleveland-Cliffs Inc. | Add +32.5% | 0.67% | +0.12 |
| WLK Westlake Corp. | New | 0.08% | +0.08 |
Options Activity Q4 2025 → Q1 2026
| RSP Invesco S&P 500 Equal Weight | call | New | 821,000 | $157.6M |
| AMZN Amazon.com Inc. | call | Add +100.0% | 200,000 | $41.7M |
| IWM iShares Russell 2000 ETF | call | Reduce -65.0% | 79,000 | $19.6M |
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 |