Duquesne Family Office 13F, Q3 2025
Stanley Druckenmiller · quarter ending 30 September 2025 · filed 14 November 2025 · SEC CIK 1536411
Common stock only: shares the fund reported owning at the quarter end, valued as filed. The filing also lists 3 put and call lines, reported at the value of the underlying shares; they are not ownership and are not in these totals.
Largest positions, Q3 2025
The 25 largest of 62 positions. Weights are against the whole filed book. Changes are in shares held, against the Q2 2025 filing.
| Company | Ticker | Value | % of book | vs Q2 2025 |
|---|---|---|---|---|
| Natera Inc | NTRA | $517.44M | 13.2% | +4% shares |
| Insmed Inc | INSM | $349.00M | 8.9% | +8% shares |
| Teva Pharmaceutical Inds Ltd | TEVA | $335.20M | 8.5% | +4% shares |
| Taiwan Semiconductor Mfg Ltd | TSM | $213.68M | 5.4% | unchanged |
| Woodward Inc | WWD | $159.97M | 4.1% | -25% shares |
| Coupang Inc | CPNG | $149.19M | 3.8% | +13% shares |
| Mercadolibre Inc | MELI | $136.35M | 3.5% | +9% shares |
| Docusign Inc | DOCU | $121.54M | 3.1% | +31% shares |
| Verona Pharma Plc | $106.93M | 2.7% | unchanged | |
| Ishares Tr | EEM | $101.46M | 2.6% | new |
| Amazon Com Inc | AMZN | $95.97M | 2.4% | new |
| Roku Inc | ROKU | $82.35M | 2.1% | -25% shares |
| Figure Technology Solutio | FIGR | $76.99M | 2.0% | new |
| Restaurant Brands Intl Inc | QSR | $72.57M | 1.9% | +51% shares |
| Stubhub Hldgs Inc | STUB | $71.73M | 1.8% | new |
| Wabtec | WAB | $60.62M | 1.5% | +77% shares |
| Meta Platforms Inc | META | $55.89M | 1.4% | new |
| Newamsterdam Pharma Company | $54.71M | 1.4% | +131% shares | |
| Carpenter Technology Corp | CRS | $54.03M | 1.4% | +74% shares |
| Citigroup Inc | C | $52.26M | 1.3% | -23% shares |
| Twilio Inc | TWLO | $51.33M | 1.3% | +156% shares |
| Bank America Corp | BAC | $51.03M | 1.3% | +189% shares |
| Sea Ltd | SE | $49.01M | 1.3% | -12% shares |
| Eqt Corp | EQT | $48.71M | 1.2% | -29% shares |
| Ge Vernova Inc | GEV | $47.54M | 1.2% | new |
What changed since Q2 2025
Against the Q2 2025 filing, Duquesne Family Office opened 29 new positions, added to 17, trimmed 13, left 3 unchanged and exited 32. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001536411-25-000017, 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.