Great investors · Stanley Druckenmiller · Q1 2026
What Stanley Druckenmiller bought and sold in Q1 2026
Duquesne Family Office 13F portfolio as of Mar 31, 2026: 65 positions worth $2.9 bn. Largest: NTRA, INSM, TSM, YPF. Filed with the SEC on May 15, 2026.
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 Q1 2026
- IncreasedYPF Sociedad AnonimaYPF+2.9 pp
- IncreasedNateraNTRA+2.6 pp
- IncreasedSTMicroelectronicsSTM+1.5 pp
- NewBroadcomAVGO+1.4 pp
- NewGlobal X Msci Argentina ETFARGT+0.9 pp
- NewCaris Life SciencesCAI+0.8 pp
- NewRevolution MedicinesRVMD+0.7 pp
- NewSandiskSNDK+0.6 pp
- NewHumanaHUM+0.6 pp
- NewTwilioTWLO+0.5 pp
- NewJabilJBL+0.5 pp
Sells in Q1 2026
- Sold outState Street Financial Select Sector ETFXLF−7.1 pp
- Sold outInvesco Exchange Traded Fund TRSP−5.3 pp
- ReducedAmazon.comAMZN−3.4 pp
- ReducedWoodwardWWD−3.2 pp
- Sold outAlphabetGOOGL−2.9 pp
- ReducedTEVA Pharmaceutical IndustriesTEVA−2.5 pp
- Sold outCogent BiosciencesCOGT−1.9 pp
- ReducedCoupangCPNG−1.8 pp
- ReducedMercadoLibreMELI−1.8 pp
- Sold outEntegrisENTG−1.7 pp
- Sold outDocusignDOCU−1.7 pp
- ReducedBloom EnergyBE−1.5 pp
33 companies with material moves, out of 81 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 Q1 2026 13F lists 65 lines of US-listed securities worth $2.9 bn; the largest is NTRA at 20.9% of the portfolio. It was accepted by the SEC on May 15, 2026 at 3:19 PM ET.
Against the previous quarter, it opened 30 positions (AVGO, ARGT, CAI and RVMD and 26 more), closed 22 (XLF, RSP, GOOGL and COGT and 18 more), added to 11 (YPF, STM, NTRA and ADMA and 7 more) and trimmed 18 (WWD, TEVA, INSM and CPNG and 14 more). 6 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Natera NTRA | 3.1 M | $613M | 20.9% | +22% |
| 2 | Insmed INSM | 1.2 M | $189M | 6.43% | −22% |
| 3 | Taiwan Semiconductor Manufacturing TSM | 495,280 | $167M | 5.70% | −8.8% |
| 4 | YPF Sociedad Anonima YPF | 3.2 M | $150M | 5.09% | +433% |
| 5 | Ishares EWZ | 3.4 M | $132M | 4.49% | −3.3% |
| 6 | BBB Foods TBBB | 3.1 M | $110M | 3.74% | +16% |
| 7 | Alcoa AA | 1.5 M | $99.1M | 3.37% | +8.5% |
| 8 | NewAmsterdam Pharma NAMS | 3.1 M | $98.3M | 3.35% | no change |
| 9 | Sea SE | 1.1 M | $91.1M | 3.10% | +17% |
| 10 | STMicroelectronics STM | 2.6 M | $90.3M | 3.07% | +238% |
| 11 | Woodward WWD | 211,355 | $75.6M | 2.58% | −64% |
| 12 | TEVA Pharmaceutical Industries TEVA | 2.4 M | $71.6M | 2.44% | −60% |
| 13 | Roku ROKU | 750,190 | $71.0M | 2.42% | +29% |
| 14 | Broadcom AVGO | 195,955 | $60.7M | 2.06% | new |
| 15 | Coupang CPNG | 2.7 M | $50.4M | 1.71% | −61% |
| 16 | Option Care Health OPCH | 1.9 M | $50.3M | 1.71% | +7% |
| 17 | CRH public CRH | 377,555 | $39.7M | 1.35% | −21% |
| 18 | Figure Technology Solutions FIGR | 1.2 M | $39.1M | 1.33% | −25% |
| 19 | Global X Msci Argentina ETF ARGT | 387,400 | $36.2M | 1.23% | new |
| 20 | Caris Life Sciences CAI | 1.9 M | $33.9M | 1.15% | new |
| 21 | Restaurant Brands International QSR | 454,435 | $33.6M | 1.14% | −62% |
| 22 | Revolution Medicines RVMD | 315,860 | $30.7M | 1.05% | new |
| 23 | Lattice Semiconductor LSCC | 323,135 | $30.0M | 1.02% | −65% |
| 24 | Sandisk SNDK | 38,155 | $24.2M | 0.83% | new |
| 25 | United Airlines Holdings UAL | 262,495 | $24.2M | 0.82% | −25% |
| 26 | Humana HUM | 137,505 | $23.8M | 0.81% | new |
| 27 | Wabtec WAB | 94,895 | $23.7M | 0.81% | −68% |
| 28 | Twilio TWLO | 181,760 | $22.9M | 0.78% | new |
| 29 | Jabil JBL | 82,200 | $21.8M | 0.74% | new |
| 30 | Southern Copper Corp/ SCCO | 121,843 | $21.0M | 0.71% | no change |
| 31 | Ishares S&P Gsci Commodity- GSG | 643,000 | $20.7M | 0.71% | new |
| 32 | Linde LIN | 41,200 | $20.4M | 0.70% | new |
| 33 | Seagate Technology Holdings STX | 50,700 | $19.9M | 0.68% | new |
| 34 | Cleveland-cliffs CLF | 2.3 M | $19.5M | 0.67% | +33% |
| 35 | Nuvation Bio NUVB | 4.5 M | $19.5M | 0.66% | new |
| 36 | Bloom Energy BE | 136,320 | $18.5M | 0.63% | −82% |
| 37 | Intel INTC | 411,400 | $18.2M | 0.62% | new |
| 38 | Belite Bio BLTE | 106,100 | $16.9M | 0.58% | new |
| 39 | Protagonist Therapeutics PTGX | 159,700 | $16.8M | 0.57% | no change |
| 40 | Unity Software U | 738,785 | $16.2M | 0.55% | +80% |
| 41 | ARM Holdings ARM | 106,700 | $16.1M | 0.55% | new |
| 42 | Olema Pharmaceuticals OLMA | 986,827 | $14.7M | 0.50% | new |
| 43 | Qnity Electronics Q | 125,655 | $14.5M | 0.49% | new |
| 44 | ADMA Biologics ADMA | 1.5 M | $13.9M | 0.47% | +513% |
| 45 | Xenon Pharmaceuticals XENE | 238,600 | $13.9M | 0.47% | new |
| 46 | JBS JBS | 655,900 | $11.8M | 0.40% | new |
| 47 | Daktronics DAKT | 562,637 | $11.0M | 0.37% | −34% |
| 48 | Cloudflare NET | 52,535 | $10.8M | 0.37% | new |
| 49 | Lyondellbasell Industries LYB | 131,435 | $10.6M | 0.36% | new |
| 50 | Vista Energy, S.A.B. de C.V. VIST | 134,700 | $10.2M | 0.35% | new |
| 51 | Twist Bioscience TWST | 206,000 | $9.8M | 0.33% | new |
| 52 | Coherent COHR | 40,400 | $9.6M | 0.33% | new |
| 53 | Amazon.com AMZN | 45,800 | $9.5M | 0.32% | −94% |
| 54 | Celestica CLS | 33,275 | $9.4M | 0.32% | new |
| 55 | Stubhub Holdings STUB | 1.4 M | $8.5M | 0.29% | −41% |
| 56 | DBV Technologies DBVT | 383,363 | $8.0M | 0.27% | new |
| 57 | Micron Technology MU | 23,400 | $7.9M | 0.27% | new |
| 58 | EchoStar ECHO | 60,765 | $7.1M | 0.24% | no change |
| 59 | Almonty Industries ALM | 469,880 | $6.8M | 0.23% | no change |
| 60 | PureCycle Technologies PCT | 963,189 | $5.0M | 0.17% | −67% |
| 61 | Lumentum Holdings LITE | 6,963 | $4.9M | 0.17% | new |
| 62 | MercadoLibre MELI | 2,766 | $4.8M | 0.16% | −94% |
| 63 | Solstice Advanced Materials SOLS | 62,525 | $4.8M | 0.16% | new |
| 64 | Westlake WLK | 21,194 | $2.5M | 0.08% | new |
| 65 | Wave Life Sciences | 173,000 | $1.3M | 0.04% | no change |
Positions it closed (22)
- Select Sector Spdr Tr XLFwas 7.13% · 5.5 M shares
- Invesco Exchange Traded Fd T RSPwas 5.33% · 1.2 M shares
- Alphabet GOOGLwas 2.86% · 385,000 shares
- Cogent Biosciences COGTwas 1.86% · 2.2 M shares
- Entegris ENTGwas 1.69% · 844,160 shares
- Docusign DOCUwas 1.65% · 1.0 M shares
- Ishares Tr EEMwas 1.17% · 902,500 shares
- Delta Air Lines DALwas 1.07% · 650,910 shares
- ON Semiconductor ONwas 0.69% · 536,260 shares
- Flutter Entertainment FLUTwas 0.59% · 115,245 shares
- AEVA Technologies AEVAwas 0.57% · 1.8 M shares
- Goldman Sachs Group GSwas 0.57% · 27,500 shares
- RH RHwas 0.37% · 88,200 shares
- Chipotle Mexican Grill CMGwas 0.34% · 391,930 shares
- Zillow Group Zwas 0.31% · 192,640 shares
- Philip Morris International PMwas 0.26% · 67,400 shares
- American Airlines Group AALwas 0.23% · 639,785 shares
- Argan AGXwas 0.22% · 30,000 shares
- DoorDash DASHwas 0.19% · 35,900 shares
- Progyny PGNYwas 0.18% · 295,115 shares
- Wolfspeed WOLFwas 0.08% · 186,900 shares
- Neptune Insurance Holdings NPwas 0.01% · 20,000 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.