Duquesne Family Office

Q3 2022 13F · by Stanley Druckenmiller, portfolio manager

As of: Sep 30, 2022
Filed: Nov 14, 2022
US stock: $1.7B · prev $1.4B
Positions: 63 · prev 42
Options notional: $23M
Documents: 1· no amendments

Picture98.7% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 98.7%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.8%
Calls at notional value 0.5%

Moves56 since the prior filing

+33.5 pp in · −33.0 pp out

New 27 +28.57 pp
Added 11 +4.89 pp
Trimmed 11 −29.84 pp
Exited 6 −3.19 pp

Options: 1 move on a notional base, in the table below.

The book

Concentrated · behaves like 16 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 83% a year, about 1.2 years per position

Low
Moderate
High

Top 5 positions45% of US stock

CPNG Coupang, Inc. held held18.6%
LLY Eli Lilly & Co. added+2.00 pp added+2.009.0%
AMZN Amazon.Com Inc new+5.88 pp new+5.885.9%
CVX Chevron Corporation trimmed−3.05 pp trimmed−3.055.7%
TMUS T-Mobile US, Inc. added−1.09 pp added−1.095.5%

Positions63 in this filing · 6 exited


CPNGCoupang, Inc.	18.61%	19,434,307	$324M	held	—	7 q
LLYEli Lilly & Co.	9.01%	484,895	$157M	added+63%	+2.00 pp	2 q
AMZNAmazon.Com Inc	5.88%	906,250	$102M	new	+5.88 pp	new
CVXChevron Corporation	5.70%	690,295	$99M	trimmed−17%	−3.05 pp	4 q
TMUST-Mobile US, Inc.	5.54%	719,017	$96M	added+6%	−1.09 pp	10 q
KBRKBR, Inc.	4.51%	1,816,183	$78M	added+39%	−0.08 pp	7 q
LWLamb Weston Holdings, Inc.	4.21%	946,800	$73M	new	+4.21 pp	new
DDOGDatadog, Inc. Class A	4.02%	789,175	$70M	added×2.6	+1.95 pp	2 q
VRTVertiv Holdings Co Class A	2.75%	4,926,070	$48M	new	+2.75 pp	new
MSFTMicrosoft Corp	2.59%	193,535	$45M	trimmed−74%	−11.25 pp	23 q
TECKTeck Resources Limited	2.40%	1,371,195	$42M	added+29%	+0.04 pp	3 q
WSCWillScot Holdings Corporation Class A	2.27%	977,631	$39M	trimmed−45%	−1.90 pp	4 q
WDAYWorkday, Inc. Class A	2.11%	240,925	$37M	added×2.9	+1.27 pp	3 q
FCXFreeport-McMoran Inc.	1.84%	1,169,777	$32M	trimmed−64%	−5.04 pp	12 q
SESea Limited	1.74%	539,740	$30M	new	+1.74 pp	new
CTRACoterra Energy Inc.	1.67%	1,113,900	$29M	trimmed−20%	−0.93 pp	3 q
PANWPalo Alto Networks, Inc.	1.46%	154,848	$25M	added0%	−0.39 pp	2 q
CRWDCrowdStrike Holdings, Inc. Class A	1.45%	153,524	$25M	trimmed−33%	−1.37 pp	2 q
PPGPPG Industries, Inc.	1.35%	212,945	$24M	new	+1.35 pp	new
METAMeta Platforms, Inc. Class A	1.25%	160,360	$22M	new	+1.25 pp	new
PXDPioneer Natural Resource Co.	1.14%	91,530	$20M	added+89%	+0.35 pp	3 q
PLTRPalantir Technologies Inc. Class A	1.13%	2,421,282	$20M	trimmed−43%	−1.68 pp	7 q
AMRAlpha Metallurgical Resources, Inc.	1.07%	136,720	$19M	new	+1.07 pp	new
NTRANatera, Inc.	1.04%	414,955	$18M	new	+1.04 pp	new
ALNYAlnylam Pharmaceuticals, Inc.	1.02%	88,910	$18M	new	+1.02 pp	new
ACCAArch Resources Inc	1.01%	147,935	$18M	new	+1.01 pp	new
NFENew Fortress Energy Inc. Class A	0.97%	387,325	$17M	new	+0.97 pp	new
EIXEdison International	0.93%	287,600	$16M	held	—	2 q
RXRXRecursion Pharmaceuticals, Inc. Class A	0.85%	1,385,950	$15M	added×5.1	+0.69 pp	5 q
NETCloudflare, Inc. Class A, par value $0.001 per share	0.79%	249,305	$14M	new	+0.79 pp	new
SHOPShopify Inc. Class A subordinate voting shares	0.76%	490,250	$13M	new	+0.76 pp	new
CVECenovus Energy Inc.	0.74%	837,845	$13M	trimmed−22%	−0.74 pp	3 q
BLDRBuilders FirstSource, Inc.	0.57%	169,620	$10M	new	+0.57 pp	new
EQTEqt Corp	0.56%	240,080	$10M	trimmed−7%	−0.09 pp	2 q
OPCHOption Care Health, Inc.	0.56%	312,100	$10M	new	+0.56 pp	new
OVVOvintiv Inc.	0.51%	194,120	$9M	new	+0.51 pp	new
ARAntero Resources Corporation	0.49%	281,640	$9M	trimmed−72%	−1.78 pp	3 q
ENVXEnovix Corporation	0.49%	464,400	$9M	new	+0.49 pp	new
CARRCarrier Global Corporation	0.47%	229,590	$8M	new	+0.47 pp	new
CEGConstellation Energy Corporation	0.42%	88,825	$7M	new	+0.42 pp	new
NEENextEra Energy, Inc.	0.42%	93,400	$7M	new	+0.42 pp	new
ABCLAbCellera Biologics Inc.	0.37%	659,750	$7M	held	—	5 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.35%	87,900	$6M	new	+0.35 pp	new
SMARSmartsheet Inc.	0.30%	151,500	$5M	added+1%	−0.04 pp	6 q
FWONKLiberty Media Corporation Series C Liberty Formula One	0.29%	85,400	$5M	new	+0.29 pp	new
OSCROscar Health, Inc.	0.29%	994,289	$5M	held	—	7 q
OPENOpendoor Technologies Inc	0.27%	1,538,085	$5M	added×6.6	+0.19 pp	4 q
RUNSunrun Inc	0.22%	139,000	$4M	new	+0.22 pp	new
AVTRAvantor, Inc.	0.21%	189,695	$4M	new	+0.21 pp	new
IHSIHS Holding Limited	0.20%	771,096	$3M	held	—	4 q
TXG10x Genomics, Inc. Class A	0.19%	116,715	$3M	new	+0.19 pp	new
SEDGSolarEdge Technologies, Inc.	0.18%	13,400	$3M	held	—	3 q
CRBUCaribou Biosciences, Inc.	0.16%	271,430	$3M	held	—	5 q
CCCCCC Intelligent Solutions Holdings Inc.	0.15%	281,879	$3M	held	—	7 q
MRNAModerna, Inc.	0.15%	22,154	$3M	trimmed−89%	−2.01 pp	2 q
DISHDISH Network Corp.	0.09%	112,400	$2M	held	—	6 q
RETAReata Pharmaceuticals, Inc. Class A	0.09%	58,997	$1M	held	—	13 q
ACADAcadia Pharmaceuticals Inc.	0.07%	74,400	$1M	held	—	6 q
COMPCompass, Inc.	0.05%	399,100	$926,000	held	—	4 q
BTUPeabody Energy Corporation	0.03%	21,587	$536,000	new	+0.03 pp	new
SNSEFaeth Therapeutics, Inc.	0.01%	100,000	$155,000	held	—	7 q
unresolvedCazoo Group Ltd	0.00%	140,100	$64,000	held	—	4 q
JOBYJoby Aviation, Inc.	0.00%	11,246	$49,000	new	0.00 pp	new
WLKWestlake Corporation	—	−145,520	—	exited	−1.04 pp	—
BKNGBooking Holdings Inc.	—	−7,748	—	exited	−0.99 pp	—
PSXPhillips 66	—	−119,380	—	exited	−0.71 pp	—
IOTSamsara Inc.	—	−400,900	—	exited	−0.33 pp	—
PRCTPROCEPT BioRobotics Corporation	—	−39,266	—	exited	−0.09 pp	—
GLBEGlobal-E Online Ltd.	—	−20,180	—	exited	−0.03 pp	—