Duquesne Family Office

Q1 2024 13F · by Stanley Druckenmiller, portfolio manager

As of: Mar 31, 2024
Filed: May 15, 2024
US stock: $3.7B · prev $3.1B
Positions: 72 · prev 50
Options notional: $664M
Documents: 1· no amendments

Picture84.9% US stock

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

US stock listed on a US exchange 84.9%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 15.1%

Moves92 since the prior filing

+36.3 pp in · −36.3 pp out

New 42 +20.72 pp
Added 15 +15.59 pp
Trimmed 13 −22.59 pp
Exited 20 −13.68 pp

Options: 2 moves on a notional base, in the table below.

The book

Focused · behaves like 20 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 179% a year, about 0.6 years per position

Low
Moderate
High

Top 5 positions39% of US stock

MSFT Microsoft Corp added−0.57 pp added−0.5712.6%
CPNG Coupang, Inc. trimmed−1.20 pp trimmed−1.2010.7%
TECK Teck Resources Limited trimmed−1.91 pp trimmed−1.915.6%
VST Vistra Corp. added+1.96 pp added+1.964.9%
NTRA Natera, Inc. added+2.94 pp added+2.944.7%

Positions72 in this filing · 20 exited


MSFTMicrosoft Corp	12.57%	1,112,270	$468M	added+2%	−0.57 pp	5 q
CPNGCoupang, Inc.	10.73%	22,459,850	$400M	trimmed−2%	−1.20 pp	13 q
TECKTeck Resources Limited	5.60%	4,552,227	$208M	trimmed−18%	−1.91 pp	9 q
VSTVistra Corp.	4.91%	2,625,231	$183M	added+10%	+1.96 pp	3 q
NTRANatera, Inc.	4.74%	1,929,380	$176M	added×2.2	+2.94 pp	7 q
NVDANvidia Corp	4.27%	175,943	$159M	trimmed−72%	−5.56 pp	6 q
COHRCoherent Corp.	4.11%	2,525,070	$153M	new	+4.11 pp	new
GEGE Aerospace	4.02%	853,095	$150M	added+16%	+1.00 pp	4 q
WWDWoodward, Inc.	3.95%	954,230	$147M	added×2.4	+2.18 pp	2 q
STXSeagate Technology Holdings PLC (Ireland)	3.60%	1,438,983	$134M	trimmed−32%	−2.21 pp	3 q
ANETArista Networks	3.34%	428,252	$124M	added+83%	+1.57 pp	2 q
FLEXFlex Ltd.	2.97%	3,863,155	$111M	added×3.4	+1.86 pp	2 q
GTMZoomInfo Technologies Inc	2.53%	5,881,906	$94M	added×6.4	+1.98 pp	2 q
NWSANews Corporation Class A	2.33%	3,312,025	$87M	trimmed−18%	−0.86 pp	5 q
DFSDiscover Financial Services	2.27%	645,205	$85M	new	+2.27 pp	new
VRTVertiv Holdings Co Class A	2.19%	998,510	$82M	trimmed−57%	−1.38 pp	7 q
KMIKinder Morgan, Inc.	1.91%	3,880,500	$71M	new	+1.91 pp	new
FCXFreeport-McMoran Inc.	1.74%	1,378,875	$65M	added×2.9	+1.09 pp	2 q
KBRKBR, Inc.	1.68%	981,425	$62M	trimmed−15%	−0.38 pp	13 q
MRVLMarvell Technology, Inc.	1.57%	822,875	$58M	added×2.3	+0.86 pp	2 q
WABWabtec Inc.	1.51%	386,835	$56M	new	+1.51 pp	new
LLYEli Lilly & Co.	1.29%	61,664	$48M	trimmed−85%	−6.26 pp	8 q
PANWPalo Alto Networks, Inc.	1.06%	138,718	$39M	added×2.1	+0.45 pp	2 q
CCJCameco Corporation	0.99%	848,710	$37M	trimmed−36%	−0.86 pp	4 q
METAMeta Platforms, Inc. Class A	0.83%	63,930	$31M	new	+0.83 pp	new
NWSNews Corporation Class B	0.77%	1,053,975	$29M	added+8%	−0.04 pp	5 q
KEYKeyCorp	0.70%	1,657,395	$26M	new	+0.70 pp	new
CCitigroup Inc.	0.68%	400,345	$25M	new	+0.68 pp	new
MSGEMadison Square Garden Entertainment Corp.	0.67%	639,800	$25M	new	+0.67 pp	new
OPCHOption Care Health, Inc.	0.62%	686,205	$23M	trimmed−53%	−0.96 pp	7 q
DAKTDaktronics Inc	0.55%	2,073,444	$21M	new	+0.55 pp	new
AAPLApple Inc.	0.53%	114,700	$20M	new	+0.53 pp	new
CNKCinemark Holdings, Inc.	0.52%	1,078,635	$19M	new	+0.52 pp	new
PLTRPalantir Technologies Inc. Class A	0.48%	769,965	$18M	new	+0.48 pp	new
STLAStellantis N.V.	0.45%	588,050	$17M	new	+0.45 pp	new
SPHRSphere Entertainment Co.	0.44%	336,825	$17M	added+14%	+0.12 pp	3 q
COFCapital One Financial	0.43%	108,495	$16M	new	+0.43 pp	new
IQVIQVIA Holdings Inc.	0.41%	60,360	$15M	new	+0.41 pp	new
KREState Street SPDR S&P Regional Banking ETF	0.41%	307,200	$15M	added+100%	+0.15 pp	2 q
CRNXCrinetics Pharmaceuticals, Inc.	0.39%	309,000	$14M	new	+0.39 pp	new
BAHBooz Allen Hamilton Holding Corporation	0.33%	83,841	$12M	trimmed−64%	−0.64 pp	2 q
OZKBank OZK	0.29%	234,200	$11M	new	+0.29 pp	new
ARGTGlobal X MSCI Argentina ETF	0.28%	193,900	$10M	new	+0.28 pp	new
BMABanco Macro S.A.	0.27%	208,730	$10M	new	+0.27 pp	new
BCSBarclays PLC	0.27%	1,051,355	$10M	new	+0.27 pp	new
SANASana Biotechnology, Inc.	0.26%	984,000	$10M	new	+0.26 pp	new
unresolvedFusion Pharmaceuticals Inc	0.23%	399,748	$9M	new	+0.23 pp	new
RDDTReddit, Inc.	0.23%	175,000	$9M	new	+0.23 pp	new
GGALGrupo Financiero Galicia SA	0.22%	321,863	$8M	new	+0.22 pp	new
SLNSilence Therapeutics Plc American Depository Share	0.22%	387,400	$8M	new	+0.22 pp	new
TTWOTake-Two Interactive Software Inc	0.22%	55,320	$8M	trimmed−13%	−0.11 pp	2 q
CABACabaletta Bio, Inc.	0.19%	417,000	$7M	new	+0.19 pp	new
CEGConstellation Energy Corporation	0.19%	39,081	$7M	added+1%	+0.04 pp	3 q
NRGNRG Energy, Inc.	0.18%	96,885	$7M	new	+0.18 pp	new
LEGNLegend Biotech Corporation	0.17%	114,500	$6M	new	+0.17 pp	new
AESAES Corporation	0.15%	314,750	$6M	new	+0.15 pp	new
NXENexGen Energy Ltd.	0.15%	712,000	$6M	new	+0.15 pp	new
VCYTVeracyte, Inc.	0.15%	259,944	$6M	new	+0.15 pp	new
ACLXArcellx, Inc.	0.14%	74,100	$5M	new	+0.14 pp	new
BCYCBicycle Therapeutics plc	0.13%	190,200	$5M	new	+0.13 pp	new
WDCWestern Digital Corp.	0.13%	73,505	$5M	trimmed−68%	−0.26 pp	3 q
LBTYALiberty Global Ltd. Class A	0.13%	275,275	$5M	new	+0.13 pp	new
TSEMTower Semiconductor Ltd	0.13%	146,400	$5M	new	+0.13 pp	new
MLTXMoonLake Immunotherapeutics Class A	0.12%	87,500	$4M	new	+0.12 pp	new
LBTYKLiberty Global Ltd. Class C	0.12%	261,875	$5M	new	+0.12 pp	new
TGTXTG Therapeutics, Inc.	0.11%	280,000	$4M	new	+0.11 pp	new
TLSITriSalus Life Sciences, Inc.	0.08%	315,955	$3M	new	+0.08 pp	new
IHSIHS Holding Limited	0.07%	770,310	$3M	held	—	10 q
TEOTelecom Argentina S.A.	0.03%	143,051	$1M	new	+0.03 pp	new
NRIXNurix Therapeutics, Inc.	0.02%	44,200	$650,000	new	+0.02 pp	new
ETNEaton Corporation, plc	0.01%	1,090	$341,000	new	+0.01 pp	new
JOBYJoby Aviation, Inc.	0.00%	22,492	$121,000	held	—	7 q
UBSUBS Group AG	—	−2,414,735	—	exited	−2.41 pp	—
LWLamb Weston Holdings, Inc.	—	−539,209	—	exited	−1.87 pp	—
CVXChevron Corporation	—	−384,595	—	exited	−1.84 pp	—
SGISomnigroup International Inc.	—	−749,100	—	exited	−1.23 pp	—
ABXBarrick Mining Corporation	—	−1,758,300	—	exited	−1.02 pp	—
TKOTKO Group Holdings, Inc.	—	−326,735	—	exited	−0.86 pp	—
NEMNewmont Corporation	—	−474,250	—	exited	−0.63 pp	—
PEverpure, Inc.	—	−531,247	—	exited	−0.61 pp	—
VEEVVeeva Systems Inc.	—	−95,700	—	exited	−0.59 pp	—
DKNGDraftKings Inc. Class A	—	−423,850	—	exited	−0.48 pp	—
ADBEAdobe Inc.	—	−17,130	—	exited	−0.33 pp	—
NTNXNutanix, Inc. Class A	—	−216,600	—	exited	−0.33 pp	—
LPXLouisiana-Pacific Corp.	—	−135,132	—	exited	−0.31 pp	—
WRBYWarby Parker Inc.	—	−674,039	—	exited	−0.31 pp	—
RXRXRecursion Pharmaceuticals, Inc. Class A	—	−906,767	—	exited	−0.29 pp	—
OLEDUniversal Display Corp	—	−28,400	—	exited	−0.17 pp	—
SCHWThe Charles Schwab Corporation	—	−71,700	—	exited	−0.16 pp	—
ABCLAbCellera Biologics Inc.	—	−659,750	—	exited	−0.12 pp	—
CPCanadian Pacific Kansas City Limited	—	−47,505	—	exited	−0.12 pp	—
SNSEFaeth Therapeutics, Inc.	—	−100,000	—	exited	0.00 pp	—