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DFO

Duquesne Family Office Portfolio holdings

AUM $3.38B
1-Year Est. Return 61.92%
This Fund
S&P 500
This Quarter Est. Return
+16.31%
1 Year Est. Return
+61.92%
3 Year Est. Return
+280.57%
5 Year Est. Return
+393.65%
10 Year Est. Return
+4,147.23%
AUM
$4.49B
AUM Growth
+$432M
Cap. Flow
-$36.6M
Cap. Flow %
-0.82%
Top 10 Hldgs %
52.3%
Holding
93
New
28
Increased
13
Reduced
16
Closed
31

Top Buys

Rank Stock Value
1
XLF icon
State Street Financial Select Sector SPDR ETF
XLF
+$293M
2
RSP icon
Invesco S&P 500 Equal Weight ETF
RSP
+$223M
3
EWZ icon
iShares MSCI Brazil ETF
EWZ
+$112M
4
SE icon
Sea Limited
SE
+$99.2M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$80.8M

Top Sells

Rank Stock Value
1
TEVA icon
Teva Pharmaceuticals
TEVA
+$264M
2
INSM icon
Insmed
INSM
+$172M
3
NTRA icon
Natera
NTRA
+$147M
4
VRNA
Verona Pharma
VRNA
+$107M
5
TSM icon
TSMC
TSM
+$65.1M

Sector Composition

Rank Sector Weight
1 Healthcare 28.89%
2 Consumer Discretionary 15.38%
3 Technology 10.8%
4 Industrials 9.68%
5 Communication Services 5.22%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FIGR
26
Figure Technology Solutions
FIGR
$6.33B
$62.9M 1.4%
1,539,785
-577,040
-27% -$23.1M
SPY icon
27
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$823B
$61.4M 1.37%
90,000
– –
CRH icon
28
CRH
CRH
$66.8B
$59.3M 1.32%
474,955
+81,135
+21% +$9.67M
IWM icon
29
CALL
iShares Russell 2000 ETF
IWM
$83B
$55.6M 1.24%
226,000
– –
OPCH icon
30
Option Care Health
OPCH
$3.56B
$55.6M 1.24%
1,745,950
+768,265
+79% +$22.5M
EEM icon
31
iShares MSCI Emerging Markets ETF
EEM
$29.5B
$49.4M 1.1%
902,500
-997,500
-53% -$54.2M
DAL icon
32
Delta Air Lines
DAL
$60.1B
$45.2M 1.01%
+650,910
New +$40.7M
UAL icon
33
United Airlines
UAL
$42.1B
$39M 0.87%
+348,400
New +$35.2M
STUB
34
StubHub Holdings
STUB
$3.36B
$31.2M 0.69%
2,305,751
-1,953,765
-46% -$30.7M
ON icon
35
ON Semiconductor
ON
$31.6B
$29M 0.65%
+536,260
New +$27.5M
FLUT icon
36
Flutter Entertainment
FLUT
$16.4B
$24.8M 0.55%
115,245
– –
PCT icon
37
PureCycle Technologies
PCT
$1.45B
$24.7M 0.55%
2,878,434
+575,350
+25% +$6.11M
AEVA
38
Aeva Technologies
AEVA
$1.86B
$24.2M 0.54%
1,824,862
-14,452
-0.8% -$206K
GS icon
39
Goldman Sachs
GS
$303B
$24.2M 0.54%
+27,500
New +$22.4M
CLF icon
40
Cleveland-Cliffs
CLF
$6.99B
$23.2M 0.52%
1,745,655
-969,380
-36% -$12.2M
AMZN icon
41
CALL
Amazon
AMZN
$2.96T
$23.1M 0.51%
+100,000
New +$22.9M
YPF icon
42
YPF Sociedad Anonima American Depositary Shares (Each representing ten (10) Class D shares of Capital Stock)
YPF
$19.3B
$21.9M 0.49%
606,990
+492,295
+429% +$16.3M
STM icon
43
STMicroelectronics
STM
$50B
$20.1M 0.45%
+773,555
New +$19.8M
U icon
44
Unity
U
$18.9B
$18.1M 0.4%
410,020
-472,480
-54% -$19.3M
SCCO icon
45
Southern Copper
SCCO
$166B
$17.3M 0.39%
+123,062
New +$16.3M
DAKT icon
46
Daktronics
DAKT
$1.04B
$16.9M 0.38%
852,960
-583,976
-41% -$11.2M
RH icon
47
RH
RH
$3.71B
$15.8M 0.35%
+88,200
New +$15.1M
CMG icon
48
Chipotle Mexican Grill
CMG
$41.5B
$14.5M 0.32%
391,930
+158,725
+68% +$5.74M
PTGX icon
49
Protagonist Therapeutics
PTGX
$9.44B
$13.9M 0.31%
159,700
– –
Z icon
50
Zillow
Z
$7.56B
$13.1M 0.29%
+192,640
New +$13.9M
1
2
3 4

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Duquesne Family Office's Q4 2025 Portfolio in Review

As of Q4 2025, Duquesne Family Office held 93 positions worth $4.49B, up 11% from $4.06B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Duquesne Family Office's Q4 2025 filing shows 28 new, 13 increased, 16 reduced and 31 closed positions. Its largest new stake was State Street Financial Select Sector SPDR ETF: 5,495,600 shares worth $301M. The largest sale was Teva Pharmaceuticals, an estimated $264M.

By sector, the portfolio is most concentrated in Healthcare at 29% of assets, down from 35% a quarter earlier, followed by Consumer Discretionary and Technology.

  • Duquesne Family Office's largest Q4 2025 buy was State Street Financial Select Sector SPDR ETF: 5,495,600 shares worth $301M.
  • Duquesne Family Office added most to Sea Limited in Q4 2025, an estimated $99.2M increase.
  • Duquesne Family Office's biggest Q4 2025 reduction was Teva Pharmaceuticals, cutting an estimated $264M.
  • Duquesne Family Office fully exited Verona Pharma in Q4 2025, selling an estimated $107M.
  • Duquesne Family Office's ten largest holdings make up 52% of its $4.49B portfolio in Q4 2025.
  • Duquesne Family Office opened 28 new positions and closed 31 in Q4 2025.
  • Duquesne Family Office's portfolio value rose 11% quarter-over-quarter to $4.49B.

Based on Duquesne Family Office's 13F filing for Q4 2025, filed 17 Feb 2026.