SuperworthStanley Druckenmiller
Duquesne Family OfficeConcentrated macro
Macro trader who concentrates in a few big themes and moves fast.
- US stock portfolio
- $4.4B
- Positions
- 95
- Quarter
- Q2 2026
- 13F filed with the SEC
- In its top 10
- 52%
- Active share
- 90%
- different from Russell 3000
- Turnover a year
- 73%
- Median holding
- 1.0 yrs
How the picks did
Beat its closest index (mostly the S&P 500 Growth) by 13.6 pts a year over 5 years (20 quarters).
How this is measured
Each 13F report is held from the week it was filed to the week of the next, priced weekly without dividends, and compared with the price of an ETF tracking the index it was closest to that quarter. No shorts, cash, bonds or options. Small and delisted companies we do not price are left out, and a quarter counts only when 70% or more of the portfolio is priced. Past results say nothing about future ones.
13F shows US long stock positions only, filed up to 45 days after the quarter.
Largest holdings
Each tile's size is its share of the portfolio at the end of Q2 2026. Green was bought or added to that quarter, red trimmed.
What changed in Q2 2026
Its bets against Russell 3000
Holds much more than the index
- NTRANatera
- TSMTaiwan Semiconductor Manufacturing
- STMSTMicroelectronics
- INSMInsmed
- YPFYPF Sociedad Anónima
- TBBBBBB Foods
Holds much less, or none
By sector
Every position, Q2 2026
| Company | Share of portfolio | Value | Change |
|---|---|---|---|
| NTRANatera | 19.86% | $864.9M | added |
| TSMTaiwan Semiconductor Manufacturing | 6.47% | $281.6M | added |
| STMSTMicroelectronics | 5.34% | $232.4M | added |
| Invesco Exchange Traded Fd T call options | 4.01% | $174.7M | |
| INSMInsmed | 3.49% | $151.9M | added |
| Ishares call options | 3.35% | $145.9M | |
| INSMInsmed call options | 3.31% | $143.9M | new |
| YPFYPF Sociedad Anónima | 3.28% | $142.7M | trimmed |
| AMZNAmazon.com | 2.96% | $129.1M | added |
| TBBBBBB Foods | 2.78% | $120.9M | trimmed |
| GOOGLAlphabet | 2.76% | $120.2M | new |
| Ishares | 2.72% | $118.5M | |
| STXSeagate Technology | 2.70% | $117.7M | added |
| FOXAFox | 2.64% | $115M | new |
| AMZNAmazon.com call options | 2.51% | $109.5M | added |
| UALUnited Airlines | 2.48% | $108.1M | added |
| SESea | 2.42% | $105.4M | |
| CDWCDW | 2.40% | $104.6M | new |
| NAMSNewAmsterdam Pharma | 2.39% | $104M | |
| Ishares Tr call options | 2.28% | $99.1M | added |
| SNDKSandisk | 1.82% | $79.4M | trimmed |
| RVMDRevolution Medicines | 1.72% | $74.8M | added |
| SPYSPDR S&P 500 ETF Trust call options | 1.54% | $67.2M | |
| BTDRBitdeer Technologies | 1.49% | $64.7M | new |
| CRHCRH | 1.36% | $59.2M | added |
| DALDelta Air Lines | 1.30% | $56.5M | new |
| TSLATesla call options | 1.22% | $53M | new |
| FLRFluor | 1.18% | $51.5M | new |
| DHID.R. Horton | 1.12% | $48.7M | new |
| CPNGCoupang | 1.06% | $46.3M | |
| AMDAdvanced Micro Devices | 0.97% | $42.3M | new |
| PANWPalo Alto Networks | 0.91% | $39.8M | new |
| CLFCleveland-Cliffs | 0.91% | $39.6M | added |
| HUTHut 8 | 0.83% | $36.3M | new |
| CDWCDW call options | 0.81% | $35.2M | new |
| CAICaris Life Sciences | 0.78% | $33.8M | |
| Global X Fds | 0.69% | $30M | trimmed |
| Fox | 0.68% | $29.6M | new |
| WWDWoodward | 0.66% | $28.6M | trimmed |
| METAMeta Platforms call options | 0.65% | $28.2M | new |
| NUVBNuvation Bio | 0.59% | $25.8M | |
| PTGXProtagonist Therapeutics | 0.59% | $25.6M | added |
| ROKURoku | 0.58% | $25.4M | trimmed |
| CVCOCavco Industries | 0.56% | $24.3M | new |
| ADMAAdma Biologics | 0.54% | $23.3M | added |
| PURRHyperliquid Strategies | 0.53% | $23.1M | new |
| RMBSRambus | 0.53% | $23M | new |
| RYTMRhythm Pharmaceuticals | 0.52% | $22.6M | new |
| SKYChampion Homes | 0.51% | $22.4M | new |
| DAKTDaktronics | 0.50% | $22M | added |
| PCTPureCycle Technologies | 0.50% | $21.7M | added |
| SCCOSouthern Copper | 0.49% | $21.4M | added |
| LINLinde | 0.49% | $21.4M | |
| ENTGEntegris | 0.49% | $21.3M | new |
| TEVATeva Pharmaceutical Industries | 0.49% | $21.2M | trimmed |
| UUnity Software | 0.48% | $21.1M | |
| AEVAAeva Technologies | 0.48% | $20.7M | new |
| RIOTRiot Platforms | 0.47% | $20.7M | new |
| QQnity Electronics | 0.47% | $20.5M | |
| EQIXEquinix | 0.44% | $19.2M | new |
| LRCXLam Research | 0.43% | $18.9M | new |
| DFTXDefinium Therapeutics | 0.39% | $16.8M | new |
| BLTEBelite Bio | 0.38% | $16.3M | |
| Invesco Exchange Traded Fd T | 0.36% | $15.8M | new |
| TXG10x Genomics | 0.35% | $15.5M | new |
| WABWestinghouse Air Brake Technologies | 0.35% | $15.3M | trimmed |
| LLYEli Lilly and | 0.34% | $14.8M | new |
| XENEXenon Pharmaceuticals | 0.33% | $14.4M | |
| OLMAOlema Pharmaceuticals | 0.28% | $12.3M | |
| RGENRepligen | 0.24% | $10.6M | new |
| RKTRocket Companies | 0.24% | $10.3M | new |
| BIDUBaidu | 0.23% | $10.1M | new |
| ARMARM | 0.23% | $10M | trimmed |
| CVNACarvana | 0.23% | $9.9M | new |
| RDDTReddit | 0.23% | $9.8M | new |
| AAAlcoa | 0.22% | $9.7M | trimmed |
| TMOThermo Fisher Scientific | 0.22% | $9.6M | new |
| DHRDanaher | 0.22% | $9.6M | new |
| FFIVF5 | 0.21% | $9.2M | new |
| VISTVista Energy, S.A.B. de C.V. | 0.20% | $8.6M | |
| SKESkeena Resources | 0.18% | $8M | new |
| JBSJbs | 0.18% | $7.8M | |
| GLUEMonte Rosa Therapeutics | 0.17% | $7.2M | new |
| RLAYRelay Therapeutics | 0.15% | $6.5M | new |
| DBVTDBV Technologies | 0.14% | $6.3M | |
| CCCCCC Intelligent Solutions | 0.14% | $6M | new |
| UWMCUWM | 0.14% | $5.9M | new |
| NVTSNavitas Semiconductor | 0.13% | $5.6M | new |
| SOLSSolstice Advanced Materials | 0.13% | $5.5M | |
| FTAIFTAI Aviation | 0.13% | $5.5M | new |
| BEAMBeam Therapeutics | 0.12% | $5.3M | new |
| AURAurora Innovation | 0.10% | $4.3M | new |
| IRENIREN | 0.09% | $4M | new |
| GGALGrupo Financiero Galicia | 0.07% | $3M | new |
| WVEWave Life Sciences | 0.02% | $1M |
About these numbers
A 13F lists a manager's US stock positions at the end of a quarter and is filed up to 45 days later. It leaves out shorts, cash, bonds and most non-US holdings, so it is a picture of the stock book, not the whole firm. The filings on SEC EDGAR