Duquesne Family Office (Druckenmiller) - 8-Quarter 13F Trend (2024Q2 - 2026Q1)
CIK: 0001536411 Style: macro long-biased Value unit detected: thousands
Backfill executed 2026-05-17 as part of /investing:smart-money-watch v0 scaffold. Data: SEC EDGAR 13F-HR filings. Coverage: 8 most recent filed quarters.
Portfolio value trajectory
| Quarter | Total value | # Positions | New | Exits | Filing date |
|---|---|---|---|---|---|
| 2024Q2 | $2.92B | 64 | 18 | 20 | 2024-08-14 |
| 2024Q3 | $2.95B | 75 | 20 | 20 | 2024-11-14 |
| 2024Q4 | $3.72B | 78 | 20 | 20 | 2025-02-14 |
| 2025Q1 | $3.06B | 52 | 12 | 20 | 2025-05-15 |
| 2025Q2 | $4.07B | 69 | 20 | 15 | 2025-08-15 |
| 2025Q3 | $4.06B | 65 | 20 | 20 | 2025-11-14 |
| 2025Q4 | $4.49B | 62 | 20 | 20 | 2026-02-17 |
| 2026Q1 | $3.38B | 70 | 20 | 20 | 2026-05-15 |
Persistent top-10 positions (appear in 4+ of 8 quarters)
| Issuer | Quarters held in top-10 | Peak value | Latest value |
|---|---|---|---|
| Natera Inc | 8/8 | $612.7M | $612.7M |
| Insmed Inc | 5/8 | $349.0M | $188.7M |
| Teva Pharmaceutical Inds Ltd | 5/8 | $335.2M | $183.4M |
| Coupang Inc | 7/8 | $287.1M | $159.8M |
| Coherent Corp | 4/8 | $267.2M | $144.3M |
| Taiwan Semiconductor Mfg Ltd | 5/8 | $213.7M | $167.4M |
| Woodward Inc | 7/8 | $208.1M | $178.7M |
| Philip Morris Intl Inc | 5/8 | $175.4M | $148.6M |
| Mercadolibre Inc | 5/8 | $140.4M | $136.3M |
Notable additions (>$50M new positions or >20% adds in top-10)
- 2024Q2: NEW Philip Morris Intl Inc @ $97.6M
- 2024Q2: NEW Mid-Amer Apt Cmntys Inc @ $91.9M
- 2024Q2: NEW Camden Ppty Tr @ $63.1M
- 2024Q2: NEW Flutter Entmt Plc @ $61.2M
- 2024Q2: NEW Mercadolibre Inc @ $60.0M
- 2024Q2: +74% Kinder Morgan Inc Del (to $134.2M)
- 2024Q3: NEW Spdr Ser Tr @ $116.2M
- 2024Q3: +81% Natera Inc (to $452.8M)
- 2024Q4: NEW Skechers U S A Inc @ $72.3M
- 2024Q4: NEW Amazon Com Inc @ $72.0M
- 2024Q4: NEW Slm Corp @ $69.5M
- 2024Q4: NEW Delta Air Lines Inc Del @ $57.4M
- 2024Q4: +530% Teva Pharmaceutical Inds Ltd (to $198.3M)
- 2024Q4: +186% Philip Morris Intl Inc (to $162.7M)
- 2025Q1: NEW Docusign Inc @ $87.5M
- 2025Q1: NEW Ccc Intelligent Solutions Hl @ $50.5M
- 2025Q1: +65% Teva Pharmaceutical Inds Ltd (to $228.7M)
- 2025Q1: +131% Insmed Inc (to $104.4M)
- 2025Q2: NEW Entegris Inc @ $132.7M
- 2025Q2: NEW Microsoft Corp @ $99.9M
- 2025Q2: NEW Warner Bros Discovery Inc @ $74.9M
- 2025Q2: NEW Ishares Tr @ $72.3M
- 2025Q2: NEW Citigroup Inc @ $56.7M
- 2025Q3: NEW Ishares Tr @ $101.5M
- 2025Q3: NEW Amazon Com Inc @ $96.0M
- 2025Q3: NEW Figure Technology Solutio @ $77.0M
- 2025Q3: NEW Stubhub Hldgs Inc @ $71.7M
- 2025Q3: NEW Meta Platforms Inc @ $55.9M
- 2025Q3: +2323% Insmed Inc (to $349.0M)
- 2025Q4: NEW Select Sector Spdr Tr @ $301.0M
Notable exits / trims (top-10 exits or >50% trim from $100M+ position)
- 2024Q2: EXIT Ishares Tr (was $664.1M)
- 2024Q2: EXIT General Electric Co (was $149.7M)
- 2024Q2: EXIT Vertiv Holdings Co (was $81.5M)
- 2024Q2: EXIT Kbr Inc (was $62.5M)
- 2024Q2: EXIT Marvell Technology Inc (was $58.3M)
- 2024Q2: -51% Coupang Inc (to $229.8M)
- 2024Q2: -64% Microsoft Corp (to $179.0M)
- 2024Q3: EXIT Option Care Health Inc (was $51.8M)
- 2025Q1: EXIT Skechers U S A Inc (was $72.3M)
- 2025Q1: EXIT Slm Corp (was $69.5M)
- 2025Q1: EXIT United States Stl Corp (was $54.7M)
- 2025Q2: -56% Coupang Inc (to $123.0M)
- 2025Q3: EXIT Philip Morris Intl Inc (was $148.6M)
- 2025Q3: EXIT Entegris Inc (was $132.7M)
- 2025Q3: EXIT Coherent Corp (was $103.3M)
- 2025Q3: EXIT Microsoft Corp (was $99.9M)
- 2025Q3: EXIT Eli Lilly & Co (was $78.5M)
- 2025Q4: EXIT Verona Pharma Plc (was $106.9M)
- 2025Q4: EXIT Meta Platforms Inc (was $55.9M)
- 2025Q4: EXIT Carpenter Technology Corp (was $54.0M)
- 2025Q4: EXIT Citigroup Inc (was $52.3M)
- 2025Q4: EXIT Twilio Inc (was $51.3M)
- 2025Q4: -65% Teva Pharmaceutical Inds Ltd (to $183.4M)
- 2026Q1: EXIT Select Sector Spdr Tr (was $301.0M)
- 2026Q1: EXIT Alphabet Inc (was $120.5M)
- 2026Q1: EXIT Cogent Biosciences Inc (was $78.7M)
- 2026Q1: EXIT Entegris Inc (was $71.1M)
- 2026Q1: EXIT Docusign Inc (was $69.7M)
RDCO thesis exposure (across all observed quarters)
- memory: Seagate Technology Hldngs Pl
- power: Vistra Corp
- space: none
- longevity: Insmed Inc, Natera Inc
- elon-verse: none
- ai-infra-chips: Taiwan Semiconductor Mfg Ltd
- hyperscalers: Amazon Com Inc, Microsoft Corp
Latest quarter (2026Q1) top 10
| Rank | Issuer | Value | Shares |
|---|---|---|---|
| 1 | Natera Inc | $612.7M | 3,063,606 |
| 2 | Insmed Inc | $188.7M | 1,154,090 |
| 3 | Taiwan Semiconductor Manufac | $167.4M | 495,280 |
| 4 | Ishares Inc | $162.3M | 4,228,000 |
| 5 | Invesco Exchange Traded Fd T | $157.6M | 821,000 |
| 6 | Ypf Sociedad Anonima | $149.6M | 3,235,962 |
| 7 | Ishares Inc | $131.9M | 3,436,170 |
| 8 | Bbb Foods Inc | $110.0M | 3,109,202 |
| 9 | Alcoa Corp | $99.1M | 1,493,390 |
| 10 | Newamsterdam Pharma Company | $98.3M | 3,070,146 |
Source
SEC EDGAR 13F-HR filings, CIK 0001536411. Pulled via ~/.claude/scripts/edgar-13f.py backfill 0001536411 --quarters 8 on 2026-05-17.
Related
- [[01-projects/investing/anchors/smart-money/2026-05-17-aggregate-2yr-backfill-summary.md]]
- [[.claude/skills/investing-smart-money-watch/SKILL.md]]
- [[01-projects/investing/README.md]]