D
Duquesne Family Office
Q4 2025 · CIK 0001536411
Portfolio — Q4 2025
Reported Book
$4.5B
13F value · +11% QoQ
Positions
62
-3 vs Q3 2025
Top 10
52.3%
of reported book
In Dimetrics Coverage
12.1%
of reported book
Reported book is the value of 13F-reportable US positions as filed — not the manager's total assets under management, which include cash, debt, non-US and private holdings.
Book structure
Long 93.9%
Long $4.2B· 58 lines
Calls $274.4M· 4 lines
Reported book structure — not net exposure. 13F reports options at the notional value of the underlying, with no strike, expiry, or premium. Delta is unknowable. This describes what was filed.
Reported book by group
PutsLongCallsNotes
Hyperscalers
7.0%
$313.9M
Lithography & Fab Tools
3.7%
$165.0M
AI Merchant Power
1.4%
$64.3M
Filed value by group, split by line type. Option lines are shown at the notional value of the underlying — a put bar is not exposure to that group, it is a position filed against it.
Holdings — 62 positions
| Ticker | Security | Line | Value | Weight | Group | Coverage |
|---|---|---|---|---|---|---|
| NTRA | Natera Inc | Long | $575.3M | 12.80% | — | Outside |
| XLF | Select Sector Spdr Tr | Long | $301.0M | 6.70% | — | Outside |
| INSM | Insmed Inc | Long | $257.9M | 5.74% | — | Outside |
| RSP | Invesco Exchange Traded Fd T | Long | $224.9M | 5.00% | — | Outside |
| TEVA | Teva Pharmaceutical Inds Ltd | Long | $183.4M | 4.08% | — | Outside |
| WWD | Woodward Inc | Long | $178.7M | 3.97% | — | Outside |
| AMZN | Amazon Com Inc | Long | $170.3M | 3.79% | Hyperscalers | Covered |
| TSM | Taiwan Semiconductor Mfg Ltd | Long | $165.0M | 3.67% | Lithography & Fab Tools | Covered |
| CPNG | Coupang Inc | Long | $159.8M | 3.55% | — | Outside |
| EWZ | Ishares Inc | Call | $134.3M | 2.99% | — | Outside |
| GOOGL | Alphabet Inc | Long | $120.5M | 2.68% | Hyperscalers | Covered |
| SE | Sea Ltd | Long | $120.4M | 2.68% | — | Outside |
| EWZ | Ishares Inc | Long | $112.9M | 2.51% | — | Outside |
| NAMS | Newamsterdam Pharma Company | Long | $107.7M | 2.40% | — | Outside |
| MELI | Mercadolibre Inc | Long | $95.0M | 2.11% | — | Outside |
| TBBB | Bbb Foods Inc | Long | $89.3M | 1.99% | — | Outside |
| QSR | Restaurant Brands Intl Inc | Long | $82.5M | 1.84% | — | Outside |
| COGT | Cogent Biosciences Inc | Long | $78.7M | 1.75% | — | Outside |
| AA | Alcoa Corp | Long | $73.1M | 1.63% | — | Outside |
| ENTG | Entegris Inc | Long | $71.1M | 1.58% | — | Outside |
| DOCU | Docusign Inc | Long | $69.7M | 1.55% | — | Outside |
| LSCC | Lattice Semiconductor Corp | Long | $68.1M | 1.52% | — | Outside |
| BE | Bloom Energy Corp | Long | $64.3M | 1.43% | AI Merchant Power | Covered |
| WAB | Wabtec | Long | $64.1M | 1.43% | — | Outside |
| ROKU | Roku Inc | Long | $63.2M | 1.41% | — | Outside |
| FIGR | Figure Technology Solutio | Long | $62.9M | 1.40% | — | Outside |
| SPY | Spdr S&P 500 Etf Tr | Call | $61.4M | 1.37% | — | Outside |
| CRH | Crh Plc | Long | $59.3M | 1.32% | — | Outside |
| IWM | Ishares Tr | Call | $55.6M | 1.24% | — | Outside |
| OPCH | Option Care Health Inc | Long | $55.6M | 1.24% | — | Outside |
| EEM | Ishares Tr | Long | $49.4M | 1.10% | — | Outside |
| DAL | Delta Air Lines Inc Del | Long | $45.2M | 1.01% | — | Outside |
| UAL | United Airls Hldgs Inc | Long | $39.0M | 0.87% | — | Outside |
| STUB | Stubhub Hldgs Inc | Long | $31.2M | 0.69% | — | Outside |
| ON | On Semiconductor Corp | Long | $29.0M | 0.65% | — | Outside |
| FLUT | Flutter Entmt Plc | Long | $24.8M | 0.55% | — | Outside |
| PCT | Purecycle Technologies Inc | Long | $24.7M | 0.55% | — | Outside |
| AEVA | Aeva Technologies Inc | Long | $24.2M | 0.54% | — | Outside |
| GS | Goldman Sachs Group Inc | Long | $24.2M | 0.54% | — | Outside |
| CLF | Cleveland-Cliffs Inc New | Long | $23.2M | 0.52% | — | Outside |
| AMZN | Amazon Com Inc | Call | $23.1M | 0.51% | Hyperscalers | Covered |
| YPF | Ypf Sociedad Anonima | Long | $21.9M | 0.49% | — | Outside |
| STM | Stmicroelectronics N V | Long | $20.1M | 0.45% | — | Outside |
| U | Unity Software Inc | Long | $18.1M | 0.40% | — | Outside |
| SCCO | Southern Copper Corp | Long | $17.3M | 0.39% | — | Outside |
| DAKT | Daktronics Inc | Long | $16.9M | 0.38% | — | Outside |
| RH | Rh | Long | $15.8M | 0.35% | — | Outside |
| CMG | Chipotle Mexican Grill Inc | Long | $14.5M | 0.32% | — | Outside |
| PTGX | Protagonist Therapeutics Inc | Long | $13.9M | 0.31% | — | Outside |
| Z | Zillow Group Inc | Long | $13.1M | 0.29% | — | Outside |
| — | Cidara Therapeutics Inc | Long | $10.9M | 0.24% | — | Outside |
| PM | Philip Morris Intl Inc | Long | $10.8M | 0.24% | — | Outside |
| AAL | American Airls Group Inc | Long | $9.8M | 0.22% | — | Outside |
| AGX | Argan Inc | Long | $9.4M | 0.21% | — | Outside |
| DASH | Doordash Inc | Long | $8.1M | 0.18% | — | Outside |
| PGNY | Progyny Inc | Long | $7.6M | 0.17% | — | Outside |
| ECHO | Echostar Corp | Long | $6.6M | 0.15% | — | Outside |
| ADMA | Adma Biologics Inc | Long | $4.6M | 0.10% | — | Outside |
| ALM | Almonty Inds Inc | Long | $4.1M | 0.09% | — | Outside |
| WOLF | Wolfspeed Inc | Long | $3.3M | 0.07% | — | Outside |
| WVE | Wave Life Sciences Ltd | Long | $2.9M | 0.07% | — | Outside |
| NP | Neptune Ins Hldgs Inc | Long | $583.0K | 0.01% | — | Outside |
Shares and value as filed. Positions held with shared investment discretion are reported in full by each manager, so a filer's book can overlap another's.