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DFO

Duquesne Family Office Portfolio holdings

AUM $5.21B
1-Year Est. Return 87.01%
This Fund
S&P 500
This Quarter Est. Return
+16.31%
1 Year Est. Return
+87.01%
3 Year Est. Return
+345.18%
5 Year Est. Return
+545.74%
10 Year Est. Return
+5,317.36%
AUM
$4.49B
AUM Growth
+$432M
Cap. Flow
-$177M
Cap. Flow %
-3.94%
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 Miscellaneous 21.42%
3 Consumer Discretionary 15.38%
4 Technology 10.8%
5 Industrials 9.68%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NTRA icon
1
Natera
NTRA
$47B
$575M 12.8%
2,511,357
-703,175
-22% -$147M
XLF icon
2
State Street Financial Select Sector SPDR ETF
XLF
$56.7B
$301M 6.7%
+5,495,600
New +$293M
INSM icon
3
Insmed
INSM
$25.9B
$258M 5.74%
1,481,752
-941,683
-39% -$172M
RSP icon
4
Invesco S&P 500 Equal Weight ETF
RSP
$99.5B
$225M 5%
+1,173,925
New +$223M
TEVA icon
5
Teva Pharmaceuticals
TEVA
$42.5B
$183M 4.08%
5,874,870
-10,719,065
-65% -$264M
WWD icon
6
Woodward
WWD
$20.2B
$179M 3.97%
590,930
-42,085
-7% -$11.6M
AMZN icon
7
Amazon
AMZN
$2.87T
$170M 3.79%
737,940
+300,870
+69% +$68.8M
TSM icon
8
TSMC
TSM
$2.17T
$165M 3.67%
543,085
-222,000
-29% -$65.1M
CPNG icon
9
Coupang
CPNG
$29.7B
$160M 3.55%
6,772,909
+2,139,785
+46% +$60.9M
EWZ icon
10
CALL
iShares MSCI Brazil ETF
EWZ
$8.16B
$134M 2.99%
+4,228,000
New +$134M
GOOGL icon
11
Alphabet (Google) Class A
GOOGL
$4.24T
$121M 2.68%
385,000
+282,800
+277% +$80.8M
SE icon
12
Sea Limited
SE
$73.1B
$120M 2.68%
944,120
+669,920
+244% +$99.2M
EWZ icon
13
iShares MSCI Brazil ETF
EWZ
$8.16B
$113M 2.51%
+3,552,575
New +$112M
NAMS icon
14
NewAmsterdam Pharma
NAMS
$3.1B
$108M 2.4%
3,070,146
+1,146,446
+60% +$41.7M
MELI icon
15
Mercado Libre
MELI
$99.7B
$95M 2.11%
47,149
-11,195
-19% -$23.5M
TBBB icon
16
BBB Foods
TBBB
$5.91B
$89.3M 1.99%
2,675,152
+1,492,027
+126% +$44.6M
QSR icon
17
Restaurant Brands International
QSR
$27.3B
$82.5M 1.84%
1,209,000
+77,635
+7% +$5.35M
COGT icon
18
Cogent Biosciences
COGT
$6.02B
$78.7M 1.75%
2,214,470
+1,154,890
+109% +$32.5M
AA icon
19
Alcoa
AA
$13.3B
$73.1M 1.63%
+1,376,050
New +$56.3M
ENTG icon
20
Entegris
ENTG
$20.6B
$71.1M 1.58%
+844,160
New +$73.3M
DOCU
21
DocuSign
DOCU
$12.2B
$69.7M 1.55%
1,019,085
-666,865
-40% -$46.1M
LSCC icon
22
Lattice Semiconductor
LSCC
$16.2B
$68.1M 1.52%
+925,970
New +$65.9M
BE icon
23
Bloom Energy
BE
$62.1B
$64.3M 1.43%
+740,545
New +$77.8M
WAB icon
24
Wabtec
WAB
$49.4B
$64.1M 1.43%
300,110
-2,300
-0.8% -$473K
ROKU icon
25
Roku
ROKU
$23.4B
$63.2M 1.41%
582,980
-239,455
-29% -$24.3M
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 withdrew a net $177M in Q4 2025, closing 31 positions and reducing 16 holdings. Its most notable exit was Verona Pharma, an estimated $107M position sold in full.

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

Against the trend, Duquesne Family Office opened a new position in State Street Financial Select Sector SPDR ETF worth $301M.

  • 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.