Duquesne Family Office

Q3 2024 13F · by Stanley Druckenmiller, portfolio manager

As of: Sep 30, 2024
Filed: Nov 14, 2024
US stock: $2.9B · prev $2.8B
Positions: 72 · prev 63
Options notional: $99M
Documents: 1· no amendments

Picture96.7% US stock

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

US stock listed on a US exchange 96.7%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.4%
Calls at notional value 2.9%

Moves86 since the prior filing

+33.6 pp in · −33.8 pp out

New 31 +18.17 pp
Added 11 +15.42 pp
Trimmed 19 −24.89 pp
Exited 22 −8.94 pp

Options: 3 moves on a notional base, in the table below.

The book

Concentrated · behaves like 16 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 126% a year, about 0.8 years per position

Low
Moderate
High

Top 5 positions48% of US stock

Positions72 in this filing · 22 exited


NTRANatera, Inc.	15.87%	3,566,850	$453M	added+81%	+8.29 pp	9 q
CPNGCoupang, Inc.	10.06%	11,696,092	$287M	added+7%	+1.91 pp	15 q
COHRCoherent Corp.	9.28%	2,978,530	$265M	trimmed−17%	+0.06 pp	3 q
WWDWoodward, Inc.	6.36%	1,057,715	$181M	added+11%	+0.46 pp	4 q
STXSeagate Technology Holdings PLC (Ireland)	6.30%	1,640,369	$180M	trimmed−7%	−0.13 pp	5 q
PMPhilip Morris International Inc.	4.83%	1,134,635	$138M	added+28%	+1.63 pp	2 q
KREState Street SPDR S&P Regional Banking ETF	4.07%	2,053,323	$116M	new	+4.07 pp	new
MELIMercado Libre, Inc	3.46%	48,110	$99M	added+32%	+1.33 pp	2 q
FCXFreeport-McMoran Inc.	2.41%	1,376,935	$69M	added+19%	+0.42 pp	4 q
FLUTFlutter Entertainment plc	2.17%	260,953	$62M	trimmed−22%	0.00 pp	2 q
KMIKinder Morgan, Inc.	2.02%	2,612,000	$58M	trimmed−61%	−2.74 pp	3 q
TECKTeck Resources Limited	1.86%	1,017,085	$53M	trimmed−30%	−0.61 pp	11 q
VSTVistra Corp.	1.63%	391,355	$46M	trimmed−85%	−6.38 pp	5 q
AVGOBroadcom Inc.	1.45%	239,980	$41M	new	+1.45 pp	new
DFSDiscover Financial Services	1.40%	284,865	$40M	added+70%	+0.62 pp	3 q
ASNDAscendis Pharma A/S	1.39%	265,040	$40M	new	+1.39 pp	new
MAAMid-America Apartment Communities, Inc.	1.33%	238,720	$38M	trimmed−63%	−1.93 pp	2 q
CPTCamden Property Trust	1.26%	290,915	$36M	trimmed−50%	−0.98 pp	2 q
DAKTDaktronics Inc	1.16%	2,568,355	$33M	added+3%	−0.07 pp	3 q
WABWabtec Inc.	1.14%	179,650	$33M	added+19%	+0.30 pp	3 q
NVTnVent Electric plc	1.11%	451,065	$32M	new	+1.11 pp	new
BMABanco Macro S.A.	0.94%	424,130	$27M	added+55%	+0.38 pp	3 q
TEVATeva Pharmaceutical Industries Limited	0.90%	1,427,950	$26M	new	+0.90 pp	new
BCSBarclays PLC	0.85%	2,007,755	$24M	trimmed−3%	+0.06 pp	3 q
XUnited States Steel Corp	0.82%	663,090	$23M	new	+0.82 pp	new
SWTXSpringworks Therapeutics Inc	0.79%	705,066	$23M	trimmed−31%	−0.57 pp	2 q
GTMZoomInfo Technologies Inc	0.77%	2,140,726	$22M	trimmed−64%	−1.89 pp	4 q
CNMCore & Main, Inc.	0.74%	475,195	$21M	new	+0.74 pp	new
CCitigroup Inc.	0.72%	327,400	$20M	new	+0.72 pp	new
VRNAVerona Pharma plc	0.69%	686,045	$20M	new	+0.69 pp	new
ARGTGlobal X MSCI Argentina ETF	0.66%	282,000	$19M	held	—	3 q
MSFTMicrosoft Corp	0.65%	43,095	$19M	trimmed−89%	−5.70 pp	7 q
ADBEAdobe Inc.	0.63%	34,495	$18M	trimmed−6%	−0.09 pp	2 q
CRNXCrinetics Pharmaceuticals, Inc.	0.55%	309,000	$16M	held	—	3 q
CRHCRH Public Limited Company	0.53%	162,500	$15M	new	+0.53 pp	new
GGALGrupo Financiero Galicia SA	0.52%	355,263	$15M	trimmed−25%	0.00 pp	3 q
PANWPalo Alto Networks, Inc.	0.52%	43,712	$15M	trimmed−51%	−0.55 pp	4 q
WULFTeraWulf Inc.	0.48%	2,944,451	$14M	added+41%	+0.15 pp	2 q
FLEXFlex Ltd.	0.41%	348,900	$12M	trimmed−76%	−1.11 pp	4 q
ADSKAutodesk Inc	0.35%	36,400	$10M	new	+0.35 pp	new
HBANHuntington Bancshares Inc	0.35%	671,200	$10M	new	+0.35 pp	new
MTBM&T Bank Corp.	0.35%	56,200	$10M	new	+0.35 pp	new
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.35%	57,355	$10M	new	+0.35 pp	new
TFCTruist Financial Corporation	0.35%	233,500	$10M	new	+0.35 pp	new
USBU.S. Bancorp	0.35%	217,400	$10M	new	+0.35 pp	new
CBChubb Limited	0.35%	34,800	$10M	new	+0.35 pp	new
ABCBAmeris Bancorp	0.34%	154,000	$10M	new	+0.34 pp	new
CFGCitizens Financial Group, Inc.	0.34%	238,600	$10M	new	+0.34 pp	new
FHNFirst Horizon Corporation	0.34%	619,700	$10M	new	+0.34 pp	new
KEYKeyCorp	0.34%	583,900	$10M	new	+0.34 pp	new
FCNCAFirst Citizens BancShares Inc	0.33%	5,183	$10M	new	+0.33 pp	new
YPFYPF Sociedad Anonima	0.32%	430,100	$9M	trimmed−33%	−0.14 pp	2 q
SPRYARS Pharmaceuticals, Inc.	0.27%	536,900	$8M	new	+0.27 pp	new
GEVGE Vernova Inc.	0.26%	29,250	$7M	trimmed−90%	−1.55 pp	2 q
SLNSilence Therapeutics Plc American Depository Share	0.25%	387,400	$7M	held	—	3 q
ACLXArcellx, Inc.	0.22%	74,100	$6M	held	—	3 q
TRPTC Energy Corporation	0.19%	115,400	$5M	new	+0.19 pp	new
SBUXStarbucks Corp	0.18%	52,305	$5M	new	+0.18 pp	new
XPOXPO, Inc.	0.18%	46,500	$5M	new	+0.18 pp	new
RAREUltragenyx Pharmaceutical Inc.	0.17%	85,445	$5M	new	+0.17 pp	new
PCVXVaxcyte, Inc.	0.17%	42,965	$5M	new	+0.17 pp	new
WDCWestern Digital Corp.	0.17%	71,405	$5M	new	+0.17 pp	new
NAMSNewAmsterdam Pharma Company N.V.	0.17%	287,535	$5M	new	+0.17 pp	new
BCYCBicycle Therapeutics plc	0.15%	190,200	$4M	held	—	3 q
ARMArm Holdings plc	0.11%	21,610	$3M	new	+0.11 pp	new
IHSIHS Holding Limited	0.08%	770,310	$2M	held	—	12 q
TLSITriSalus Life Sciences, Inc.	0.07%	426,921	$2M	held	—	3 q
INSMInsmed, Inc.	0.05%	20,000	$1M	held	—	2 q
PLTRPalantir Technologies Inc. Class A	0.05%	41,710	$2M	trimmed−95%	−0.64 pp	3 q
NRIXNurix Therapeutics, Inc.	0.03%	44,200	$993,000	held	—	3 q
IVVDInvivyd, Inc.	0.02%	571,425	$583,000	held	—	2 q
JOBYJoby Aviation, Inc.	0.00%	22,492	$113,000	held	—	9 q
OPCHOption Care Health, Inc.	—	−1,871,818	—	exited	−1.84 pp	—
NVDANvidia Corp	—	−214,060	—	exited	−0.94 pp	—
MSGEMadison Square Garden Entertainment Corp.	—	−694,225	—	exited	−0.84 pp	—
NWSANews Corporation Class A	—	−683,800	—	exited	−0.67 pp	—
ANETArista Networks	—	−52,275	—	exited	−0.65 pp	—
NWSNews Corporation Class B	—	−635,850	—	exited	−0.64 pp	—
BAHBooz Allen Hamilton Holding Corporation	—	−83,841	—	exited	−0.46 pp	—
IQVIQVIA Holdings Inc.	—	−60,360	—	exited	−0.45 pp	—
LYVLive Nation Entertainment Inc.	—	−103,100	—	exited	−0.34 pp	—
CNKCinemark Holdings, Inc.	—	−400,792	—	exited	−0.31 pp	—
AESAES Corporation	—	−314,750	—	exited	−0.20 pp	—
VCYTVeracyte, Inc.	—	−259,944	—	exited	−0.20 pp	—
AAPLApple Inc.	—	−24,400	—	exited	−0.18 pp	—
SESea Limited	—	−66,900	—	exited	−0.17 pp	—
SGISomnigroup International Inc.	—	−103,100	—	exited	−0.17 pp	—
LBTYALiberty Global Ltd. Class A	—	−275,275	—	exited	−0.17 pp	—
LBTYKLiberty Global Ltd. Class C	—	−261,875	—	exited	−0.17 pp	—
EQTEqt Corp	—	−121,000	—	exited	−0.16 pp	—
SPHRSphere Entertainment Co.	—	−122,411	—	exited	−0.15 pp	—
BLDRBuilders FirstSource, Inc.	—	−29,385	—	exited	−0.14 pp	—
GPCRStructure Therapeutics Inc.	—	−37,700	—	exited	−0.05 pp	—
TEOTelecom Argentina S.A.	—	−143,051	—	exited	−0.04 pp	—