Great investors · Stanley Druckenmiller · Q3 2024
What Stanley Druckenmiller bought and sold in Q3 2024
Duquesne Family Office 13F portfolio as of Sep 30, 2024: 72 positions worth $2.9 bn. Largest: NTRA, CPNG, COHR, WWD. Filed with the SEC on Nov 14, 2024.
The 13F is filed by Duquesne Family Office, not by Stanley Druckenmiller personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q3 2024
- IncreasedNateraNTRA+7.1 pp
- NewState Street SPDR S&P Regional Bank ETFKRE+4.1 pp
- NewBroadcomAVGO+1.5 pp
- NewAscendis Pharma A/s+1.4 pp
- NewnVent ElectricNVT+1.1 pp
- IncreasedPhilip Morris InternationalPM+1.0 pp
- NewTEVA Pharmaceutical IndustriesTEVA+0.9 pp
- IncreasedMercadoLibreMELI+0.8 pp
- NewUnited States Steel+0.8 pp
- NewCore & MainCNM+0.7 pp
- NewCitigroupC+0.7 pp
- NewVerona PharmaVRNA+0.7 pp
Sells in Q3 2024
- ReducedVistra OperationsVST−7.9 pp
- ReducedMicrosoftMSFT−5.4 pp
- ReducedKinder MorganKMI−3.2 pp
- ReducedMid-america Apartment CommunitiesMAA−2.3 pp
- ReducedCoherentCOHR−1.9 pp
- Sold outOption Care HealthOPCH−1.8 pp
- ReducedGE VernovaGEV−1.8 pp
- ReducedZoomInfo TechnologiesGTM−1.4 pp
- ReducedFLEXFLEX−1.3 pp
- ReducedCamden Property TrustCPT−1.2 pp
- Sold outNVIDIANVDA−0.9 pp
- Sold outMadison Square Garden EntertainmentMSGE−0.8 pp
35 companies with material moves, out of 83 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Duquesne Family Office's Q3 2024 13F lists 72 lines of US-listed securities worth $2.9 bn; the largest is NTRA at 15.9% of the portfolio. It was accepted by the SEC on Nov 14, 2024 at 3:48 PM ET.
Against the previous quarter, it opened 31 positions (KRE, AVGO, Ascendis Pharma A/s and NVT and 27 more), closed 22 (OPCH, NVDA, MSGE and NWSA and 18 more), added to 11 (NTRA, PM, MELI and Discover Financial Services and 7 more) and trimmed 19 (COHR, VST, KMI and MAA and 15 more). 11 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Natera NTRA | 3.6 M | $453M | 15.9% | +81% |
| 2 | Coupang CPNG | 11.7 M | $287M | 10.1% | +6.6% |
| 3 | Coherent COHR | 3.0 M | $265M | 9.28% | −17% |
| 4 | Woodward WWD | 1.1 M | $181M | 6.36% | +11% |
| 5 | Seagate Technology Holdings STX | 1.6 M | $180M | 6.30% | −6.5% |
| 6 | Philip Morris International PM | 1.1 M | $138M | 4.83% | +28% |
| 7 | State Street SPDR S&P Regional Bank ETF KRE | 2.1 M | $116M | 4.07% | new |
| 8 | MercadoLibre MELI | 48,110 | $98.7M | 3.46% | +32% |
| 9 | Freeport-McMoRan FCX | 1.4 M | $68.7M | 2.41% | +19% |
| 10 | Flutter Entertainment FLUT | 260,953 | $61.8M | 2.17% | −22% |
| 11 | Kinder Morgan KMI | 2.6 M | $57.7M | 2.02% | −61% |
| 12 | TECK Resources TECK | 1.0 M | $53.1M | 1.86% | −30% |
| 13 | Vistra Operations VST | 391,355 | $46.4M | 1.63% | −85% |
| 14 | Broadcom AVGO | 239,980 | $41.4M | 1.45% | new |
| 15 | Discover Financial Services | 284,865 | $40.0M | 1.40% | +70% |
| 16 | Ascendis Pharma A/s | 265,040 | $39.6M | 1.39% | new |
| 17 | Mid-america Apartment Communities MAA | 238,720 | $37.9M | 1.33% | −63% |
| 18 | Camden Property Trust CPT | 290,915 | $35.9M | 1.26% | −50% |
| 19 | Daktronics DAKT | 2.6 M | $33.2M | 1.16% | +3% |
| 20 | Wabtec WAB | 179,650 | $32.7M | 1.14% | +19% |
| 21 | nVent Electric NVT | 451,065 | $31.7M | 1.11% | new |
| 22 | Macro Bank BMA | 424,130 | $26.9M | 0.94% | +55% |
| 23 | TEVA Pharmaceutical Industries TEVA | 1.4 M | $25.7M | 0.90% | new |
| 24 | Barclays BCS | 2.0 M | $24.4M | 0.85% | −3.3% |
| 25 | United States Steel | 663,090 | $23.4M | 0.82% | new |
| 26 | Springworks Therapeutics SWTX | 705,066 | $22.6M | 0.79% | −31% |
| 27 | ZoomInfo Technologies GTM | 2.1 M | $22.1M | 0.77% | −64% |
| 28 | Core & Main CNM | 475,195 | $21.1M | 0.74% | new |
| 29 | Citigroup C | 327,400 | $20.5M | 0.72% | new |
| 30 | Verona Pharma VRNA | 686,045 | $19.7M | 0.69% | new |
| 31 | Global X Msci Argentina ETF ARGT | 282,000 | $18.7M | 0.66% | no change |
| 32 | Microsoft MSFT | 43,095 | $18.5M | 0.65% | −89% |
| 33 | Adobe ADBE | 34,495 | $17.9M | 0.63% | −6% |
| 34 | Crinetics Pharmaceuticals CRNX | 309,000 | $15.8M | 0.55% | no change |
| 35 | CRH public CRH | 162,500 | $15.1M | 0.53% | new |
| 36 | Grupo Financiero Galicia GGAL | 355,263 | $15.0M | 0.52% | −25% |
| 37 | Palo Alto Networks PANW | 43,712 | $14.9M | 0.52% | −51% |
| 38 | Terawulf WULF | 2.9 M | $13.8M | 0.48% | +41% |
| 39 | FLEX FLEX | 348,900 | $11.7M | 0.41% | −76% |
| 40 | Chubb CB | 34,800 | $10.0M | 0.35% | new |
| 41 | Autodesk ADSK | 36,400 | $10.0M | 0.35% | new |
| 42 | M&t Bank MTB | 56,200 | $10.0M | 0.35% | new |
| 43 | Truist Financial TFC | 233,500 | $10.0M | 0.35% | new |
| 44 | Taiwan Semiconductor Manufacturing TSM | 57,355 | $10.0M | 0.35% | new |
| 45 | US Bancorp \de\ USB | 217,400 | $9.9M | 0.35% | new |
| 46 | Huntington Bancshares HBAN | 671,200 | $9.9M | 0.35% | new |
| 47 | Citizens Financial Group CFG | 238,600 | $9.8M | 0.34% | new |
| 48 | KeyCorp KEY | 583,900 | $9.8M | 0.34% | new |
| 49 | First Horizon FHN | 619,700 | $9.6M | 0.34% | new |
| 50 | Ameris Bancorp ABCB | 154,000 | $9.6M | 0.34% | new |
| 51 | First Citizens Bancshares FCNCA | 5,183 | $9.5M | 0.33% | new |
| 52 | YPF Sociedad Anonima YPF | 430,100 | $9.1M | 0.32% | −33% |
| 53 | ARS Pharmaceuticals SPRY | 536,900 | $7.8M | 0.27% | new |
| 54 | GE Vernova GEV | 29,250 | $7.5M | 0.26% | −90% |
| 55 | Silence Therapeutics SLN | 387,400 | $7.0M | 0.25% | no change |
| 56 | Arcellx ACLX | 74,100 | $6.2M | 0.22% | no change |
| 57 | TC Energy TRP | 115,400 | $5.5M | 0.19% | new |
| 58 | Starbucks SBUX | 52,305 | $5.1M | 0.18% | new |
| 59 | XPO XPO | 46,500 | $5.0M | 0.18% | new |
| 60 | Vaxcyte PCVX | 42,965 | $4.9M | 0.17% | new |
| 61 | Western Digital WDC | 71,405 | $4.9M | 0.17% | new |
| 62 | NewAmsterdam Pharma NAMS | 287,535 | $4.8M | 0.17% | new |
| 63 | Ultragenyx Pharmaceutical RARE | 85,445 | $4.7M | 0.17% | new |
| 64 | Bicycle Therapeutics BCYC | 190,200 | $4.3M | 0.15% | no change |
| 65 | ARM Holdings ARM | 21,610 | $3.1M | 0.11% | new |
| 66 | IHS Holding IHS | 770,310 | $2.3M | 0.08% | no change |
| 67 | TriSalus Life Sciences TLSI | 426,921 | $2.0M | 0.07% | no change |
| 68 | Palantir Technologies PLTR | 41,710 | $1.6M | 0.05% | −95% |
| 69 | Insmed INSM | 20,000 | $1.5M | 0.05% | no change |
| 70 | Nurix Therapeutics NRIX | 44,200 | $993K | 0.03% | no change |
| 71 | Invivyd IVVD | 571,425 | $583K | 0.02% | no change |
| 72 | Joby Aviation JOBY | 22,492 | $113K | 0.00% | no change |
Positions it closed (22)
- Option Care Health OPCHwas 1.84% · 1.9 M shares
- NVIDIA NVDAwas 0.94% · 214,060 shares
- Madison Square Garden Entertainment MSGEwas 0.84% · 694,225 shares
- News NWSAwas 0.67% · 683,800 shares
- Arista Networks ANETwas 0.65% · 52,275 shares
- News NWSwas 0.64% · 635,850 shares
- Booz Allen Hamilton Holding BAHwas 0.46% · 83,841 shares
- IQVIA Holdings IQVwas 0.45% · 60,360 shares
- Live Nation Entertainment LYVwas 0.34% · 103,100 shares
- Cinemark Holdings CNKwas 0.31% · 400,792 shares
- Veracyte VCYTwas 0.20% · 259,944 shares
- Aes AESwas 0.20% · 314,750 shares
- Apple AAPLwas 0.18% · 24,400 shares
- Somnigroup International SGIwas 0.17% · 103,100 shares
- Liberty Global LBTYAwas 0.17% · 275,275 shares
- Sea SEwas 0.17% · 66,900 shares
- Liberty Global LBTYKwas 0.17% · 261,875 shares
- EQT EQTwas 0.16% · 121,000 shares
- Sphere Entertainment SPHRwas 0.15% · 122,411 shares
- Builders Firstsource BLDRwas 0.14% · 29,385 shares
- Structure Therapeutics GPCRwas 0.05% · 37,700 shares
- Telecom Argentina TEOwas 0.04% · 143,051 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Duquesne Family Office's 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.