Duquesne Family Office 13F, Q2 2025
Stanley Druckenmiller · quarter ending 30 June 2025 · filed 15 August 2025 · SEC CIK 1536411
Common stock only: shares the fund reported owning at the quarter end, valued as filed. The filing also lists 4 put and call lines, reported at the value of the underlying shares; they are not ownership and are not in these totals.
Largest positions, Q2 2025
The 25 largest of 65 positions. Weights are against the whole filed book. Changes are in shares held, against the Q1 2025 filing.
| Company | Ticker | Value | % of book | vs Q1 2025 |
|---|---|---|---|---|
| Natera Inc | NTRA | $521.21M | 13.3% | -9% shares |
| Teva Pharmaceutical Inds Ltd | TEVA | $267.64M | 6.8% | +7% shares |
| Insmed Inc | INSM | $226.79M | 5.8% | +65% shares |
| Woodward Inc | WWD | $208.06M | 5.3% | -23% shares |
| Taiwan Semiconductor Mfg Ltd | TSM | $173.28M | 4.4% | +28% shares |
| Philip Morris Intl Inc | PM | $148.61M | 3.8% | -26% shares |
| Mercadolibre Inc | MELI | $140.42M | 3.6% | unchanged |
| Entegris Inc | ENTG | $132.74M | 3.4% | new |
| Coupang Inc | CPNG | $123.00M | 3.1% | -56% shares |
| Flutter Entmt Plc | $115.77M | 3.0% | +7% shares | |
| Coherent Corp | COHR | $103.29M | 2.6% | -48% shares |
| Docusign Inc | DOCU | $100.51M | 2.6% | +20% shares |
| Microsoft Corp | MSFT | $99.94M | 2.5% | new |
| Roku Inc | ROKU | $96.72M | 2.5% | +123% shares |
| Verona Pharma Plc | $94.78M | 2.4% | unchanged | |
| Eli Lilly & Co | LLY | $78.48M | 2.0% | +6% shares |
| Warner Bros Discovery Inc | WBD | $74.92M | 1.9% | new |
| Eqt Corp | EQT | $73.06M | 1.9% | +46% shares |
| Citigroup Inc | C | $56.72M | 1.4% | new |
| Select Sector Spdr Tr | XLF | $51.60M | 1.3% | new |
| Restaurant Brands Intl Inc | QSR | $49.78M | 1.3% | new |
| Sea Ltd | SE | $49.54M | 1.3% | new |
| Nu Hldgs Ltd | $46.86M | 1.2% | new | |
| Daktronics Inc | DAKT | $46.51M | 1.2% | unchanged |
| Unity Software Inc | U | $42.93M | 1.1% | new |
What changed since Q1 2025
Against the Q1 2025 filing, Duquesne Family Office opened 31 new positions, added to 12, trimmed 18, left 4 unchanged and exited 15. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
and 23 more
Exited
- COFwas $35.44M
- Springworks Therapeutics Incwas $27.18M
- AMZNwas $26.02M
- Ascendis Pharma A/Swas $24.74M
- BNwas $16.55M
- TECKwas $15.72M
- BBIOwas $15.14M
- Flex Ltdwas $11.54M
and 7 more
Other quarters
Source: SEC Form 13F-HR, accession 0001536411-25-000011, filed by Duquesne Family Office LLC. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.