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Stanley Druckenmiller Portfolio

Stanley Druckenmiller is closely associated with Duquesne Family Office.

Duquesne Family Office LLC Holdings · Q3 2025

Disclosed value
$3.9B
Holdings
62
Top sector
Healthcare
Filed
Nov 14, 2025
Performance
YTD
+11.1%
+2.1% vs S&P 500
1Y
+42.4%
+25.8% vs S&P 500
3Y
+207.0%
+142.7% vs S&P 500
Stanley Druckenmiller's latest portfolio (Q3 2025) holds 62 stocks worth $3.9B. Top holdings: Natera, Inc. (NTRA), Insmed Incorporated (INSM), Teva Pharmaceutical Industries Limited (TEVA).Biggest last-quarter moves:

Duquesne Family Office LLC Holdings · 62

Q3 2025 · Showing 15 positions from the selected holding view.
Stock % Avg. buy price Estimated gain Quarter-end price Last transaction
NMedical - Diagnostics & ResearchNatera, Inc. (NTRA) 13.2%
Avg. buy price $88.84 Estimated gain+81.2%Quarter-end price $160.97 Last transaction Added· Q3 2025Increased shares by 4.2%
N 13.2% $88.84 +81.2% $160.97 Added· Q3 2025Increased shares by 4.2%
IMedical - PharmaceuticalsInsmed Incorporated (INSM) 8.9%
Avg. buy price $78.34 Estimated gain+83.8%Quarter-end price $144.01 Last transaction Added· Q3 2025Increased shares by 7.5%
I 8.9% $78.34 +83.8% $144.01 Added· Q3 2025Increased shares by 7.5%
T 8.5% $17.86 +13.1% $20.20 Added· Q3 2025Increased shares by 3.9%
T 5.4% $190.50 +46.6% $279.29 Added· Q2 2025Increased shares by 27.8%
WAerospace & DefenseWoodward, Inc. (WWD) 4.1%
Last transaction Reduced· Q3 2025Sold 25.4% of shares
W 4.1% – – – Reduced· Q3 2025Sold 25.4% of shares
CSpecialty RetailCoupang, Inc. (CPNG) 3.8%
Quarter-end price $32.20 Last transaction Added· Q3 2025Increased shares by 12.9%
C 3.8% – – $32.20 Added· Q3 2025Increased shares by 12.9%
MSpecialty RetailMercadoLibre, Inc. (MELI) 3.5%
Avg. buy price $1,739.77 Estimated gain+34.3%Quarter-end price $2,336.94 Last transaction Added· Q3 2025Increased shares by 8.6%
M 3.5% $1,739.77 +34.3% $2,336.94 Added· Q3 2025Increased shares by 8.6%
DSoftware - ApplicationDocuSign, Inc. (DOCU) 3.1%
Avg. buy price $84.26 Estimated gain−14.4%Quarter-end price $72.09 Last transaction Added· Q3 2025Increased shares by 30.6%
D 3.1% $84.26 −14.4% $72.09 Added· Q3 2025Increased shares by 30.6%
V 2.7% – – – Added· Q1 2025Increased shares by 12.9%
Not classifiediShares Tr 2.6%
Not classifiedValue$101M
 Not classifiediShares Tr 2.6% – – – –
ASpecialty RetailAmazon.com, Inc. (AMZN) 2.4%
Avg. buy price $226.35 Estimated gain−3.0%Quarter-end price $219.57 Last transaction New· Q3 2025Opened a new position
A 2.4% $226.35 −3.0% $219.57 New· Q3 2025Opened a new position
REntertainmentRoku, Inc. (ROKU) 2.1%
Avg. buy price $74.43 Estimated gain+34.5%Quarter-end price $100.13 Last transaction Reduced· Q3 2025Sold 25.3% of shares
R 2.1% $74.43 +34.5% $100.13 Reduced· Q3 2025Sold 25.3% of shares
Not classifiedFigure Technology Solutio 2.0%
Not classifiedValue$77M
 Not classifiedFigure Technology Solutio 2.0% – – – –
Not classifiedRestaurant Brands Intl Inc 1.8%
Not classifiedValue$73M
 Not classifiedRestaurant Brands Intl Inc 1.8% – – – –
Not classifiedStubhub Hldgs Inc 1.8%
Not classifiedValue$72M
 Not classifiedStubhub Hldgs Inc 1.8% – – – –
Data through Q3 2025 · filed Nov 14, 2025
15 of 62
Show all 62 holdings

Biggest position changes

In Q3 2025: 29 new, 17 added, 13 reduced, 29 exited.
Q1 2026Q4 2025Q3 2025Q2 2025
Largest disclosed changes in Q3 2025, ranked by estimated dollar change using the quarter's average market price.
Reduced or exitedBought or added
E Entegris, Inc. (ENTG) Exited−$140M P Philip Morris International Inc. (PM) Exited−$137M C Coherent, Inc. (COHR) Exited−$115M M Microsoft Corporation (MSFT) Exited−$102M W Warner Bros. Discovery, Inc. (WBD) Exited−$89M F Flutter Entertainment plc (FLUT) −$85M L Eli Lilly and Company (LLY) Exited−$75M D Delta Air Lines, Inc. (DAL) Exited−$45M A Amazon.com, Inc. (AMZN) New+$99M M Meta Platforms, Inc. (META) New+$57M G GE Vernova Inc. (GEV) New+$47M V Vistra Corp. (VST) New+$46M T Twilio Inc. (TWLO) +$35M A Aeva Technologies, Inc. (AEVA) New+$35M B Bank of America Corporation (BAC) +$32M D DocuSign, Inc. (DOCU) +$30M
Other share changes without a dollar estimate, ranked by size.
Reduced or exitedBought or added
Y YPF Sociedad Anónima (YPF) −589K C Chime Financial, Inc. Class A Common Stock (CHYM) −424K I Illumina, Inc. (ILMN) Exited−301K G Grupo Financiero Galicia S.A. (GGAL) Exited−231K B Banco Macro S.A. (BMA) Exited−221K W Woodward, Inc. (WWD) −216K J Joby Aviation, Inc. (JOBY) Exited−31K
Global X Fds −14K
Stubhub Hldgs Inc New+4.3M
Figure Technology Solutio New+2.1M
iShares Tr New+1.9M
Newamsterdam Pharma Company +1.1M
T BBB Foods Inc. (TBBB) +823K E Enliven Therapeutics, Inc. (ELVN) +484K
Spdr Series Trust New+482K
Crh PLC New+394K

New this quarter

A Amazon.com, Inc. (AMZN) New· Q3 2025 M Meta Platforms, Inc. (META) New· Q3 2025 G GE Vernova Inc. (GEV) New· Q3 2025 V Vistra Corp. (VST) New· Q3 2025 A Aeva Technologies, Inc. (AEVA) New· Q3 2025 D DICK'S Sporting Goods, Inc. (DKS) New· Q3 2025 C Cleveland-Cliffs Inc. (CLF) New· Q3 2025 A Arm Holdings plc American Depositary Shares (ARM) New· Q3 2025

Portfolio composition

Largest holdings in Q3 2025, sized by their share of the disclosed portfolio. This shows what is owned, not what changed.

Natera, Inc. (NTRA): 13.2%Insmed Incorporated (INSM): 8.9%Teva Pharmaceutical Industries Limited (TEVA): 8.5%Taiwan Semiconductor Manufacturing Company Limited (TSM): 5.4%Woodward, Inc. (WWD): 4.1%Other holdings: 59.9%
N Natera, Inc. (NTRA) 13.2%
I Insmed Incorporated (INSM) 8.9%
T Teva Pharmaceutical Industries Limited (TEVA) 8.5%
T Taiwan Semiconductor Manufacturing Company Limited (TSM) 5.4%
W Woodward, Inc. (WWD) 4.1%
Other holdings 59.9%
Show more

Portfolio over time

Each band is a top holding's share of the disclosed portfolio, quarter by quarter; the rest is grouped as other.
3Y5YAll
0%50%100%202120222023202420252026
Natera, Inc. (NTRA)Insmed Incorporated (INSM)Taiwan Semiconductor Manufacturing Company Limited (TSM)YPF Sociedad Anónima (YPF)BBB Foods Inc. (TBBB)Alcoa Corporation (AA)Other holdings

Investors with similar portfolios

Coatue ManagementCoatue Management LLCAlso holds Natera, Inc. (NTRA) and Taiwan Semiconductor Manufacturing Company Limited (TSM)Tiger Global ManagementTiger Global Management LLCAlso holds Taiwan Semiconductor Manufacturing Company Limited (TSM) and Amazon.com, Inc. (AMZN)David TepperAppaloosa LPAlso holds Amazon.com, Inc. (AMZN) and Micron Technology, Inc. (MU)Cathie WoodARK Investment Management LLCAlso holds Natera, Inc. (NTRA) and Roku, Inc. (ROKU)Ken GriffinCitadel Advisors LLCAlso holds Natera, Inc. (NTRA) and Insmed Incorporated (INSM)Ray DalioBridgewater Associates, LPAlso holds Taiwan Semiconductor Manufacturing Company Limited (TSM) and Insmed Incorporated (INSM)

About Stanley Druckenmiller and Duquesne Family Office LLC

Stanley Druckenmiller is closely associated with Duquesne Family Office. This page shows Duquesne's quarterly Form 13F report of certain United States listed long positions, not Druckenmiller's personal account or the family office's complete portfolio. Cash, short positions, private assets, many derivatives, and some foreign securities may be absent.

SEC filing history for Duquesne Family Office LLC

Stanley Druckenmiller FAQ

Profile refreshed July 20, 2026

What stocks does Stanley Druckenmiller own?

As of the Q3 2025 filing, Stanley Druckenmiller's largest disclosed holdings are Natera, Inc. (NTRA), Insmed Incorporated (INSM), Teva Pharmaceutical Industries Limited (TEVA). The table shows 15 of 62 positions by default, with an exact-count control for the remaining rows. Disclosed shares and values remain visible even when a separate market-price estimate is unavailable.

What did Stanley Druckenmiller buy last quarter?

The biggest disclosed buys in Q3 2025 were Amazon.com, Inc. (AMZN), Meta Platforms, Inc. (META), GE Vernova Inc. (GEV), based on the Duquesne Family Office LLC 13F filing. New positions are marked "new" in the table above.

What did Stanley Druckenmiller sell last quarter?

The biggest reductions in Q3 2025 were Flutter Entertainment plc (FLUT), Unity Software Inc. (U), Daktronics, Inc. (DAKT). The filing comparison contains 29 full exits, summarized in the activity view above.

How big is Stanley Druckenmiller's portfolio?

The latest 13F discloses $3.9B across 62 positions in Q3 2025. 13F filings cover US-listed long positions only; cash and short positions are not disclosed.

How up to date is this?

Funds file 13Fs up to 45 days after each quarter ends, so this portfolio reflects Q3 2025, the latest disclosed quarter. The filing date is shown with every table.

Where does the Duquesne Family Office LLC portfolio data come from?

Non-rejected, non-superseded SEC Form 13F filings for Duquesne Family Office LLC provide the Q3 2025 holdings, disclosed values, and filing date shown here. WhoBought prefers filings whose value units validate and labels a sparse filing when validation is unavailable. Industry labels come from the local company classification record.

How is performance calculated?

Performance uses daily closing prices for holdings with available market-price history. It covers the priced share of disclosed value (67%); holdings without sufficient price history are excluded from the calculation.

Who is Stanley Druckenmiller?

Stanley Druckenmiller is an American investor who founded Duquesne Capital in 1981 and later became the lead portfolio manager for George Soros's Quantum Fund.

How did Druckenmiller enter investing?

After studying English and economics at Bowdoin, he left an economics PhD program to become an oil analyst at Pittsburgh National Bank. He founded Duquesne a few years later.

What was Druckenmiller's role in Black Wednesday?

Druckenmiller and George Soros took a large short position against the British pound in 1992 after concluding that the Bank of England could not sustain its defense of the currency.

Does Stanley Druckenmiller still run a hedge fund for outside clients?

No. He returned outside investors' money and closed Duquesne Capital in 2010. This page instead follows the later Duquesne Family Office filing.

What was Duquesne Capital's historical record?

Wikipedia reports an average annual return of about 30 percent with no money-losing year during the fund's run. That historical figure is separate from the current family-office holdings shown here.

What is Druckenmiller's investment style?

He is a top-down investor who has combined long and short stock positions with leverage, futures, and currency trades. That makes a stock-only 13F an incomplete picture of his approach.

Is this Druckenmiller's personal portfolio or net worth?

No. It is the Duquesne Family Office 13F filing. It does not calculate his personal wealth or disclose every asset held by the family office.

Can a reader reproduce Druckenmiller's strategy from the 13F?

No. The filing can reveal selected long equity positions, but it leaves out the shorts, currencies, futures, leverage, and timing decisions central to his style.