Smart Money
SD

Stanley Druckenmiller

Duquesne Family Office·macro·Concentrated / activist
Closed

~30% (career) since 1981

Portfolio value

$4.9B

Positions

82

Top 5 concentration

40%

New buys this quarter

42

Recent moves vs Mar 2026

$CDWNew buy2.9%
$GOOGLNew buy2.5%
$FOXANew buy2.4%
$BTDRNew buy1.3%
$DALNew buy1.2%
$TSLANew buy1.1%
$FLRNew buy1.1%
$DHINew buy1%
$AMDNew buy0.9%
$PANWNew buy0.8%
$HUTNew buy0.7%
$FOXNew buy0.6%
$METANew buy0.6%
$CVCONew buy0.5%
$PURRNew buy0.5%
$RMBSNew buy0.5%
$RYTMNew buy0.5%
$SKYNew buy0.5%
$ENTGNew buy0.4%
$AEVANew buy0.4%
$RIOTNew buy0.4%
$EQIXNew buy0.4%
$LRCXNew buy0.4%
$DFTXNew buy0.3%
$TXGNew buy0.3%
$LLYNew buy0.3%
$RGENNew buy0.2%
$RKTNew buy0.2%
$BIDUNew buy0.2%
$CVNANew buy0.2%
$RDDTNew buy0.2%
$TMONew buy0.2%
$DHRNew buy0.2%
$FFIVNew buy0.2%
$GLUENew buy0.1%
$RLAYNew buy0.1%
$UWMCNew buy0.1%
$NVTSNew buy0.1%
$FTAINew buy0.1%
$BEAMNew buy0.1%
$AURNew buy0.1%
$IRENNew buy0.1%
$INSMAdded6.1%
$TSMAdded5.8%
$AMZNAdded4.9%
$STMAdded4.8%
$RSPAdded3.9%
$STXAdded2.4%
$UALAdded2.2%
$IWMAdded2%
$RVMDAdded1.5%
$CRHAdded1.2%
$CLFAdded0.8%
$PTGXAdded0.5%
$ADMAAdded0.5%
$PCTAdded0.4%
$SNDKTrimmed1.6%
$ARGTTrimmed0.6%
$WWDTrimmed0.6%
$ROKUTrimmed0.5%
$TEVATrimmed0.4%
$WABTrimmed0.3%
$ARMTrimmed0.2%
$AATrimmed0.2%
$SATSSold out
$TWSTSold out
$YPFSold out
$INTCSold out
$HUMSold out
$BLTESold out
$CLSSold out
$DAKTSold out
$FIGRSold out
$JBLSold out
$LSCCSold out
$WLKSold out
$TBBBSold out
$BESold out
$AVGOSold out
$COHRSold out
$DBVTSold out
$GSGSold out
$LITESold out
$LYBSold out
$MELISold out
$OPCHSold out
$QSRSold out
$STUBSold out
$MUSold out
$ALMSold out
$NETSold out
$TWLOSold out

Holdings

StockMove% of portfolioValue
$NTRA

Natera Inc

Held
17.7%
$865M
$INSM

Insmed Inc

Added
6.1%
$296M
$TSM

Taiwan Semiconductor Manufac

Added
5.8%
$282M
$EWZ

Ishares Inc

Held
5.4%
$264M
$AMZN

Amazon Com Inc

Added
4.9%
$239M
$STM

Stmicroelectronics N V

Added
4.8%
$232M
$RSP

Invesco Exchange Traded Fd T

Added
3.9%
$191M
$CDW

Cdw Corp

New buy
2.9%
$140M
$GOOGL

Alphabet Inc

New buy
2.5%
$120M
$STX

Seagate Technology Hldngs Pl

Added
2.4%
$118M
$FOXA

Fox Corp

New buy
2.4%
$115M
$UAL

United Airls Hldgs Inc

Added
2.2%
$108M
$SE

Sea Ltd

Held
2.2%
$105M
$NAMS

Newamsterdam Pharma Company

Held
2.1%
$104M
$IWM

Ishares Tr

Added
2%
$99M
$SNDK

Sandisk Corp

Trimmed
1.6%
$79M
$RVMD

Revolution Medicines Inc

Added
1.5%
$75M
$SPY

State Str Spdr S&P 500 Etf T

Held
1.4%
$67M
$BTDR

Bitdeer Technologies Group

New buy
1.3%
$65M
$CRH

Crh Plc

Added
1.2%
$59M
$DAL

Delta Air Lines Inc

New buy
1.2%
$56M
$TSLA

Tesla Inc

New buy
1.1%
$53M
$FLR

Fluor Corp

New buy
1.1%
$51M
$DHI

D R Horton Inc

New buy
1%
$49M
$CPNG

Coupang Inc

Held
0.9%
$46M
$AMD

Advanced Micro Devices Inc

New buy
0.9%
$42M
$PANW

Palo Alto Networks Inc

New buy
0.8%
$40M
$CLF

Cleveland-Cliffs Inc New

Added
0.8%
$40M
$HUT

Hut 8 Corp

New buy
0.7%
$36M
$CAI

Caris Life Sciences Inc

Held
0.7%
$34M
$ARGT

Global X Fds

Trimmed
0.6%
$30M
$FOX

Fox Corp

New buy
0.6%
$30M
$WWD

Woodward Inc

Trimmed
0.6%
$29M
$META

Meta Platforms Inc

New buy
0.6%
$28M
$NUVB

Nuvation Bio Inc

Held
0.5%
$26M
$PTGX

Protagonist Therapeutics Inc

Added
0.5%
$26M
$ROKU

Roku Inc

Trimmed
0.5%
$25M
$CVCO

Cavco Inds Inc Del

New buy
0.5%
$24M
$ADMA

Adma Biologics Inc

Added
0.5%
$23M
$PURR

Hyperliquid Strategies Inc

New buy
0.5%
$23M
$RMBS

Rambus Inc Del

New buy
0.5%
$23M
$RYTM

Rhythm Pharmaceuticals Inc

New buy
0.5%
$23M
$SKY

Champion Homes Inc

New buy
0.5%
$22M
$PCT

Purecycle Technologies Inc

Added
0.4%
$22M
$SCCO

Southern Copper Corp

Held
0.4%
$21M
$LIN

Linde Plc

Held
0.4%
$21M
$ENTG

Entegris Inc

New buy
0.4%
$21M
$TEVA

Teva Pharmaceutical Inds Ltd

Trimmed
0.4%
$21M
$U

Unity Software Inc

Held
0.4%
$21M
$AEVA

Aeva Technologies Inc

New buy
0.4%
$21M
$RIOT

Riot Platforms Inc

New buy
0.4%
$21M
$Q

Qnity Electronics Inc

Held
0.4%
$21M
$EQIX

Equinix Inc

New buy
0.4%
$19M
$LRCX

Lam Research Corp

New buy
0.4%
$19M
$DFTX

Definium Therapeutics Inc

New buy
0.3%
$17M
$TXG

10X Genomics Inc

New buy
0.3%
$15M
$WAB

Wabtec

Trimmed
0.3%
$15M
$LLY

Eli Lilly & Co

New buy
0.3%
$15M
$XENE

Xenon Pharmaceuticals Inc

Held
0.3%
$14M
$OLMA

Olema Pharmaceuticals Inc

Held
0.3%
$12M
$RGEN

Repligen Corp

New buy
0.2%
$11M
$RKT

Rocket Cos Inc

New buy
0.2%
$10M
$BIDU

Baidu Inc

New buy
0.2%
$10M
$ARM

Arm Holdings Plc

Trimmed
0.2%
$10M
$CVNA

Carvana Co

New buy
0.2%
$10M
$RDDT

Reddit Inc

New buy
0.2%
$10M
$AA

Alcoa Corp

Trimmed
0.2%
$10M
$TMO

Thermo Fisher Scientific Inc

New buy
0.2%
$10M
$DHR

Danaher Corp Del

New buy
0.2%
$10M
$FFIV

F5 Inc

New buy
0.2%
$9M
$VIST

Vista Energy S.A.B. De C.V.

Held
0.2%
$9M
$JBS

Jbs N.V.

Held
0.2%
$8M
$GLUE

Monte Rosa Therapeutics Inc

New buy
0.1%
$7M
$RLAY

Relay Therapeutics Inc

New buy
0.1%
$7M
$UWMC

Uwm Holdings Corporation

New buy
0.1%
$6M
$NVTS

Navitas Semiconductor Corp

New buy
0.1%
$6M
$SOLS

Solstice Advanced Matls Inc

Held
0.1%
$6M
$FTAI

Ftai Aviation Ltd

New buy
0.1%
$5M
$BEAM

Beam Therapeutics Inc

New buy
0.1%
$5M
$AUR

Aurora Innovation Inc

New buy
0.1%
$4M
$IREN

Iren Limited

New buy
0.1%
$4M
$WVE

Wave Life Sciences Ltd

Held
0%
$1M

Notable sell-outs this quarter: $SATS, $TWST, $YPF, $INTC, $HUM, $BLTE, $CLS, $DAKT, $FIGR, $JBL, $LSCC, $WLK, $TBBB, $BE, $AVGO, $COHR, $DBVT, $GSG, $LITE, $LYB, $MELI, $OPCH, $QSR, $STUB, $MU, $ALM, $NET, $TWLO

Source: SEC 13F via FMP · Jun 2026 report · 45-day filing delay. Long equity positions only. Not financial advice.