Stanley Druckenmiller made some changes to his Duquesne Family Office portfolio in the third 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 $4.06 billion through his Duquesne Family Office (as of September 30, 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 third 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 – including a completely new addition – and changes have also been made to many of the older top positions. However, Druckenmiller’s biggest bet remains unchallenged.
The following ranking shows the star investor’s ten largest stock holdings according to their share of the total portfolio as of September 30, 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 September 30, 2025, the total value of his holdings was around $4.06 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 third 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 September 30, 2025.
Source: sec.gov, Image: TunedIn by Westend61 / Shutterstock.com
10th place: Amazon
The top ten is introduced by Amazon. Druckenmiller’s Duquesne Family Office completely rebuilt its stake in the online giant in the third quarter of 2025 and bought 437,070 Amazon shares. As of September 30, these were worth a total of around 95.97 million US dollars and thus made up 2.36 percent of the entire portfolio.
Source: sec.gov, Image: Benny Marty / Shutterstock.com
9th place: Verona Pharma
The shares of Verona Pharma are also new in the top ten. However, this is not a new investment, as Duquesne Family Office has already invested in the British biotech company since the third quarter of 2024 and has now left this position untouched. However, Verona Pharma was completely taken over by the US pharmaceutical company Merck Co. in October 2025 and has no longer been listed on the stock exchange since then. However, as of September 30, 2025, there were still 1,002,080 Verona Pharma shares in Stanley Druckenmiller’s portfolio, which moved up to ninth place with a total value of around 106.93 million US dollars and a portfolio share of 2.63 percent.
Source: sec.gov, Image: Piotr Swat / Shutterstock.com
8th place: DocuSign
The investment in DocuSign also made it into the top ten in the third quarter of 2025. Druckenmiller expanded this position by a further 395,510 shares or 30.65 percent, so that there were 1,685,950 papers from the company, which specializes in the digitalization of contract processes, in the portfolio as of the reporting date. With a market value of around 121.54 million US dollars, the holding accounted for 2.99 percent of the entire portfolio, climbing to eighth place.
Source: sec.gov, Image: Tada Images / Shutterstock.com
7th place: MercadoLibre
The largest e-commerce company in Latin America, MercadoLibre, was able to defend its seventh place from the previous quarter. Druckenmiller added a further 4,619 stocks to his portfolio in the third quarter of the year. The entire position therefore grew by 8.60 percent to 58,344 MercadoLibre shares. With a total value of around $136.35 million at the end of the quarter, this investment accounted for 3.36 percent of the entire portfolio.
Source: sec.gov, Image: monticello / Shutterstock.com
6th place: Coupang
The online retailer Coupang went up from ninth place in the previous quarter to sixth place in the third quarter of 2025. Here, Druckenmiller bought a total of 527,700 shares (+12.85 percent) and thus held a total of 4,633,124 shares as of the reporting date. With a total value of around 149.19 million US dollars as of September 30, the investment amounted to a portfolio share of 3.67 percent.
Source: sec.gov, Image: Michael Vi / Shutterstock.com
5th place: Woodward
The manufacturer of control systems and components for gas and steam turbines, Woodward, moved down one place to fifth place in the third quarter of 2025. Druckenmiller’s Duquesne Family Office sold 215,895 securities during the reporting period, thereby reducing the position by 25.43 percent. The remaining 633,015 Woodward shares, with a value of around 159.97 million US dollars at the end of the quarter, made it to a portfolio share of 3.94 percent.
Source: sec.gov, Image: MacroEcon / Shutterstock.com
4th place: Taiwan Semiconductor Manufacturing
Druckenmiller’s investment in Taiwan Semiconductor Manufacturing (TSMC) was able to make up one place compared to the previous quarter – although the position remained untouched. At the end of the third quarter of 2025, there were still a total of 765,085 TSMC securities in the portfolio, which had a total value of around $213.68 million. This corresponded to a depot share of 5.26 percent.
Source: sec.gov, Image: Michael Vi / Shutterstock.com
3rd place: Teva Pharmaceutical Industries
As in the previous quarter, the investment firm Duquesne Family Office again bought shares in Teva Pharmaceutical Industries in the third quarter of 2025. Druckenmiller increased its holdings by 625,000 shares or 3.91 percent to a total of 16,593,935 shares. Nevertheless, the investment slipped from second to third place. With a total value of around 335.20 million US dollars, the Teva shares had a portfolio share of 8.25 percent as of the reporting date.
Source: sec.gov, Image: Teva Pharmaceutical Industries
2nd place: Insmed
The investment in Insmed moved up one place to second place in the third quarter of 2025. Druckenmiller also took action here and bought another 170,000 shares of the biotechnology company, increasing the position by 7.54 percent. A total of 2,423,435 of the company’s securities were in the Duquesne Family Office depository as of the reporting date. With a value of around 349.00 million US dollars, this corresponded to a portfolio share of 8.59 percent.
Source: sec.gov, Image: JHVEPhoto / Shutterstock.com
1st place: Natera
The largest investment by Stanley Druckenmiller’s Duquesne Family Office in the third quarter of 2025 was Natera. During the reporting period, 129,342 additional Natera shares found their way into the portfolio (+4.19 percent), meaning that there were a total of 3,214,532 shares from the biotechnology company as of the reporting date on September 30th. These had a total market value of around 517.44 million US dollars and therefore had a portfolio share of 12.74 percent.
Source: sec.gov, Image: Piotr Swat / Shutterstock.com
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Image sources: TunedIn by Westend61 / Shutterstock.com, Maxx-Studio / Shutterstock.com