Stanley Druckenmiller made some changes to his Duquesne Family Office portfolio in the fourth quarter of 2025. He relied on these investments in the most recent quarter of the year.
Star investor Stanley Druckenmiller recently managed investments worth around $4.49 billion through his Duquesne Family Office (as of December 31, 2025). Since the assets under management are well above the reporting threshold of $100 million, he must publish a quarterly 13F form with the US Securities and Exchange Commission (SEC) disclosing his investments.
For the fourth quarter of 2025, this document shows numerous adjustments to the portfolio. Some investments have now made it into the Duquesne Family Office’s ten largest equity holdings – and changes have also been made to all other top positions. However, Druckenmiller’s biggest bet remains unchallenged.
The following ranking shows the star investor’s ten largest shareholdings according to their share of the total portfolio as of December 31, 2025. Investments in other forms of investment such as ETFs were not taken into account.
11th place: The ranking
Star investor Stanley Druckenmiller manages a billion-dollar stock portfolio through his Duquesne Family Office. As of December 31, 2025, the total value of its holdings was around $4.49 billion. Since the portfolio is well above the threshold of 100 million US dollars, Druckenmiller is obliged to submit a 13F form to the US Securities and Exchange Commission (SEC) every quarter in which he discloses his investments.
The following ranking lists the ten largest stock holdings of the Duquesne Family Office in the fourth quarter of 2025, sorted by their share of the total portfolio. Investments in other forms of investment such as ETFs were not taken into account. The basis is the status at the end of the quarter on December 31, 2025.
Source: sec.gov, Image: TunedIn by Westend61 / Shutterstock.com
10th place: NewAmsterdam Pharma Company
Druckenmiller expanded his position in Newamsterdam Pharma Company by 60 percent in the fourth quarter of 2025. Including the newly purchased shares, there were 3,070,146 shares of the pharmaceutical company in the depot at the end of the year. With a value of around 107.7 million US dollars and a share of the entire portfolio of 2.40 percent, the company now made it into the top ten of Druckenmiller’s holdings.
Source: sec.gov, Image: Adam Michal Ziaja / Shutterstock.com
9th place: Sea
In the fourth quarter of 2025, Stanley Druckenmiller also made a strong investment in the technology group Sea, based in Singapore, through his Duquesne Family Office. The position was increased by 669,920 shares (+244 percent), so that there were 944,120 Sea shares in the portfolio as of the reporting date. As of December 31, these were worth $120.44 million (2.68 percent of the total portfolio) and thus made it to ninth place in the ranking.
Source: sec.gov, Image: PrasitRodphan / Shutterstock.com
8th place: Alphabet A
Druckenmiller’s Duquesne Family Office also took hold of Alphabet in the last quarter of the year: 282,800 A shares found their way into the portfolio – an increase of 277 percent. As of the reporting date, there were 385,000 Alphabet shares worth $120.51 million in the portfolio, which put the Google parent in eighth place in the ranking with a share of the total portfolio of 2.68 percent.
Source: sec.gov, Image: Fenixx666 / Shutterstock.com
7th place: Coupang
The online retailer Coupang went down from sixth place in the previous quarter to seventh place in the fourth quarter of 2025. Here, Druckenmiller bought a total of 2,139,785 shares (+46 percent) and thus held a total of 6,772,909 shares with a total value of around 159.77 million US dollars as of the reporting date. The shareholding therefore amounted to 3.55 percent of the entire portfolio.
Source: sec.gov, Image: Michael Vi / Shutterstock.com
6th place: Taiwan Semiconductor Manufacturing (TSMC)
In contrast, Druckenmiller and his Duquesne Family Office sold 222,000 Taiwan Semiconductor Manufacturing shares (-29 percent) in the fourth quarter of 2025. As of December 31st, there were still 543,085 TSMC securities in the portfolio, which were worth 165.04 million US dollars. With a share of 3.67 percent of the total depot, this results in sixth place for the world’s largest independent contract manufacturer of semiconductor chips.
Source: sec.gov, Image: Michael Vi / Shutterstock.com
5th place: Amazon
From tenth place in the previous quarter, Amazon made the jump to fifth place in the fourth quarter of 2025. Druckenmiller’s Duquesne Family Office has expanded its stake in the online giant by 300,870 Amazon shares. As of December 31, there were a total of 737,940 shares worth around $170.33 million in the portfolio. The share of the total portfolio was 3.79 percent.
Source: sec.gov, Image: Benny Marty / Shutterstock.com
4th place: Woodward
Woodward, a manufacturer of control systems and components for gas and steam turbines, moved up one place to fourth place in the fourth quarter of 2025. Druckenmiller’s Duquesne Family Office sold 42,085 papers during the reporting period. The remaining 590,930 Woodward shares were worth $178.65 million at the end of the quarter and accounted for 3.97 percent of the total portfolio.
Source: sec.gov, Image: MacroEcon / Shutterstock.com
3rd place: Teva Pharmaceutical Industries
In the fourth quarter of 2025, investment firm Duquesne Family Office sold 10,719,065 Teva Pharmaceutical Industries shares. Druckenmiller reduced its holdings by 65 percent to a total of 5,874,870 shares. Nevertheless, the investment remained in third place in the ranking with a total value of around 183.36 million US dollars and a portfolio share of 4.08 percent.
Source: sec.gov, Image: Teva Pharmaceutical Industries
2nd place: Insmed
The investment in Insmed remained in second place in the last quarter of 2025. Here too, Druckenmiller reduced the position and sold 941,683 shares of the biotechnology company, reducing the position by 39 percent. A total of 1,481,752 of the company’s securities were still in the Duquesne Family Office depot as of the reporting date. The position was worth around $257.88 million and a share of the portfolio of 5.74 percent.
Source: sec.gov, Image: JHVEPhoto / Shutterstock.com
1st place: Natera
The largest stock investment by Stanley Druckenmiller’s Duquesne Family Office in the fourth quarter of 2025 was Natera. During the reporting period, however, Druckenmiller also reduced his top investment by 703,175 shares (-22 percent), so that a total of 2,511,357 shares of the biotechnology company were still in the portfolio as of the reporting date on December 31st. These had a total market value of around 575.33 million US dollars, giving them a portfolio value of 12.80 percent.
Source: sec.gov, Image: Piotr Swat / Shutterstock.com
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Image sources: TunedIn by Westend61 / Shutterstock.com, Maxx-Studio / Shutterstock.com
