Stanley Druckenmiller portfolio against fair value
Former manager of George Soros' Quantum Fund, now investing his family's money. Holdings from Duquesne Family Office's 13F filing for Q2 2026, filed Aug 14, 2026. Fair value and quality as of Nov 8, 2026.
Of the 60 stocks we value in Duquesne Family Office' 13F filing for Q2 2026, 20 trade below our fair value (as of Nov 8, 2026).
Adds the largest valued positions, as many as fit on your watchlist: 5 without an account, 10 with a free account, all with Pro.
All Duquesne Family Office stocks with fair value
more than 10% below fair value (cheap)near fair value (±10%)more than 10% above fair value (expensive)
| Holding | Weight | vs prior qtr | vs fair value | Quality |
|---|---|---|---|---|
| Natera Inc NTRA+4 % vs prior qtr | 16.6 % | +4 % | FV 92.8 % lower | 41 |
| Taiwan Semiconductor Manufacturing TSM+19 % vs prior qtr | 5.4 % | +19 % | 9.1 % below FV | 75 |
| STMicroelectronics NV ADR STM+19 % vs prior qtr | 4.5 % | +19 % | FV 77.7 % lower | 43 |
| Insmed Inc INSM+23 % vs prior qtr | 2.9 % | +23 % | no fair value | n/a |
| YPF Sociedad Anonima YPF−3 % vs prior qtr | 2.7 % | −3 % | 17.4 % below FV | 35 |
| Amazon.com Inc AMZN+1,083 % vs prior qtr | 2.5 % | +1,083 % | FV 46.0 % lower | 56 |
| BBB Foods Inc. TBBB−7 % vs prior qtr | 2.3 % | −7 % | FV 69.4 % lower | 26 |
| Alphabet Inc Class A GOOGLnew | 2.3 % | new | 9.9 % below FV | 68 |
| Ishares Incunchanged | 2.3 % | unchanged | fund | n/a |
| Seagate Technology PLC STX+141 % vs prior qtr | 2.3 % | +141 % | FV 54.8 % lower | 78 |
| Fox Corp Class A FOXAnew | 2.2 % | new | FV 1.1 % lower | 72 |
| United Airlines Holdings Inc UAL+203 % vs prior qtr | 2.1 % | +203 % | 24.2 % below FV | 51 |
| Sea Ltd SEunchanged | 2.0 % | unchanged | 41.5 % below FV | 66 |
| CDW Corp CDWnew | 2.0 % | new | 5.1 % below FV | 59 |
| Newamsterdam Pharma Company NAMSunchanged | 2.0 % | unchanged | no fair value | n/a |
| Sandisk Corp SNDK−9 % vs prior qtr | 1.5 % | −9 % | FV 5.4 % lower | 82 |
| Revolution Medicines Inc RVMD+27 % vs prior qtr | 1.4 % | +27 % | no fair value | n/a |
| Bitdeer Technologies Group Class A BTDRnew | 1.2 % | new | 25.5 % below FV | 18 |
| Crh Plc+47 % vs prior qtr | 1.1 % | +47 % | not covered | n/a |
| Delta Air Lines Inc DALnew | 1.1 % | new | 13.3 % below FV | 49 |
| Fluor Corporation FLRnew | 1.0 % | new | FV 76.7 % lower | 53 |
| DR Horton Inc DHInew | 0.9 % | new | 27.3 % below FV | 70 |
| Coupang Inc CPNGunchanged | 0.9 % | unchanged | FV 69.4 % lower | 52 |
| Advanced Micro Devices Inc AMDnew | 0.8 % | new | FV 67.0 % lower | 75 |
| Palo Alto Networks Inc PANWnew | 0.8 % | new | FV 87.4 % lower | 45 |
Show 61 more holdings
| Holding | Weight | vs prior qtr | vs fair value | Quality |
|---|---|---|---|---|
| Cleveland-Cliffs Inc CLF+82 % vs prior qtr | 0.8 % | +82 % | FV 44.8 % lower | 23 |
| Hut 8 Corp HUTnew | 0.7 % | new | no fair value | n/a |
| Caris Life Sciences, Inc. CAIunchanged | 0.7 % | unchanged | FV 72.3 % lower | 60 |
| Global X Fds−15 % vs prior qtr | 0.6 % | −15 % | fund | n/a |
| Fox Corp Class B FOXnew | 0.6 % | new | 9.7 % below FV | 72 |
| Woodward Inc WWD−68 % vs prior qtr | 0.6 % | −68 % | FV 59.3 % lower | 67 |
| Nuvation Bio Inc NUVBunchanged | 0.5 % | unchanged | no fair value | n/a |
| Protagonist Therapeutics Inc PTGX+31 % vs prior qtr | 0.5 % | +31 % | FV 90.7 % lower | 39 |
| Roku Inc ROKU−76 % vs prior qtr | 0.5 % | −76 % | FV 55.4 % lower | 77 |
| Cavco Industries Inc CVCOnew | 0.5 % | new | 9.8 % below FV | 79 |
| ADMA Biologics Inc ADMA+80 % vs prior qtr | 0.5 % | +80 % | 9.6 % below FV | 68 |
| Hyperliquid Strategies Inc PURRnew | 0.4 % | new | no fair value | n/a |
| Rambus Inc RMBSnew | 0.4 % | new | 9.1 % below FV | 78 |
| Rhythm Pharmaceuticals Inc RYTMnew | 0.4 % | new | no fair value | n/a |
| Skyline Corporation SKYnew | 0.4 % | new | 9.1 % below FV | 73 |
| Daktronics Inc DAKT+100 % vs prior qtr | 0.4 % | +100 % | FV 5.7 % lower | 64 |
| Purecycle Technologies Inc PCT+178 % vs prior qtr | 0.4 % | +178 % | no fair value | n/a |
| Southern Copper Corporation SCCO+1 % vs prior qtr | 0.4 % | +1 % | FV 6.0 % lower | 79 |
| Linde plc LINunchanged | 0.4 % | unchanged | FV 13.3 % lower | 70 |
| Entegris Inc ENTGnew | 0.4 % | new | FV 28.5 % lower | 56 |
| Teva Pharmaceutical Inds Ltd−74 % vs prior qtr | 0.4 % | −74 % | not covered | n/a |
| Unity Software Inc Uunchanged | 0.4 % | unchanged | FV 65.2 % lower | 59 |
| Aeva Technologies Inc AEVAnew | 0.4 % | new | no fair value | n/a |
| Riot Platforms Inc RIOTnew | 0.4 % | new | no fair value | n/a |
| Qnity Electronics, Inc Qunchanged | 0.4 % | unchanged | FV 39.7 % lower | 65 |
| Equinix Inc EQIXnew | 0.4 % | new | FV 80.3 % lower | 49 |
| Lam Research Corp LRCXnew | 0.4 % | new | 9.1 % below FV | 88 |
| Definium Therapeutics Inc DFTXnew | 0.3 % | new | no fair value | n/a |
| Belite Bio Inc Sponsored BLTEunchanged | 0.3 % | unchanged | no fair value | n/a |
| Invesco Exchange Traded Fd Tnew | 0.3 % | new | fund | n/a |
| 10X Genomics Inc TXGnew | 0.3 % | new | FV 64.4 % lower | 65 |
| Westinghouse Air Brake Technologies Corp WAB−40 % vs prior qtr | 0.3 % | −40 % | 2.5 % below FV | 67 |
| Eli Lilly and Company LLYnew | 0.3 % | new | FV 44.6 % lower | 68 |
| Xenon Pharmaceuticals Inc XENEunchanged | 0.3 % | unchanged | no fair value | n/a |
| Olema Pharmaceuticals Inc OLMAunchanged | 0.2 % | unchanged | FV 39.0 % lower | 36 |
| Repligen Corporation RGENnew | 0.2 % | new | FV 74.7 % lower | 66 |
| Rocket Companies Inc RKTnew | 0.2 % | new | FV 88.1 % lower | 27 |
| Baidu Inc BIDUnew | 0.2 % | new | FV 34.0 % lower | 37 |
| Arm Holdings plc American Depositary Shares ARM−74 % vs prior qtr | 0.2 % | −74 % | FV 74.2 % lower | 68 |
| Carvana Co CVNAnew | 0.2 % | new | FV 65.7 % lower | 56 |
| Reddit, Inc. RDDTnew | 0.2 % | new | 7.8 % below FV | 77 |
| Alcoa Corp AA−88 % vs prior qtr | 0.2 % | −88 % | 0.5 % below FV | 53 |
| Thermo Fisher Scientific Inc TMOnew | 0.2 % | new | FV 1.3 % lower | 64 |
| Danaher Corporation DHRnew | 0.2 % | new | FV 9.2 % lower | 74 |
| F5 Networks Inc FFIVnew | 0.2 % | new | 9.3 % below FV | 78 |
| Vista Oil Gas ADR VISTunchanged | 0.2 % | unchanged | 3.0 % below FV | 38 |
| Skeena Res Ltd New SKEnew | 0.2 % | new | no fair value | n/a |
| Jbs N.v. JBSunchanged | 0.2 % | unchanged | no fair value | n/a |
| Monte Rosa Therapeutics Inc GLUEnew | 0.1 % | new | no fair value | n/a |
| Relay Therapeutics Inc RLAYnew | 0.1 % | new | no fair value | n/a |
| Dbv Technologies S A Sponsored DBVTunchanged | 0.1 % | unchanged | no fair value | n/a |
| CCC Intelligent Solutions Holdings Inc. CCCnew | 0.1 % | new | FV 73.7 % lower | 61 |
| UWM Holdings Corp UWMCnew | 0.1 % | new | FV 85.5 % lower | 37 |
| Navitas Semiconductor Corp NVTSnew | 0.1 % | new | no fair value | n/a |
| Solstice Advanced Materials, Inc SOLSunchanged | 0.1 % | unchanged | FV 68.0 % lower | 51 |
| FTAI Aviation Ltd. FTAInew | 0.1 % | new | FV 47.0 % lower | 46 |
| Beam Therapeutics Inc BEAMnew | 0.1 % | new | FV 62.5 % lower | 46 |
| Aurora Innovation Inc AURnew | 0.08 % | new | no fair value | n/a |
| IREN Ltd IRENnew | 0.08 % | new | FV 65.5 % lower | 21 |
| Grupo Financiero Galicia SA ADR GGALnew | 0.06 % | new | FV 37.3 % lower | 29 |
| Wave Life Sciences Ltdunchanged | 0.02 % | unchanged | not covered | n/a |
"Weight" is the share of the total reported value. "Vs prior qtr" compares the share count with the previous filing. "Not covered" means we could not match this position to one of our stocks with two independent sources, so we show no value.
Bought and sold in Q2 2026
New positions:
- Alphabet Inc Class A (2.3 %), 9.9 % below FV
- Fox Corp Class A (2.2 %), FV 1.1 % lower
- CDW Corp (2.0 %), 5.1 % below FV
- Bitdeer Technologies Group Class A (1.2 %), 25.5 % below FV
- Delta Air Lines Inc (1.1 %), 13.3 % below FV
- Fluor Corporation (1.0 %), FV 76.7 % lower
- DR Horton Inc (0.9 %), 27.3 % below FV
- Advanced Micro Devices Inc (0.8 %), FV 67.0 % lower
- Palo Alto Networks Inc (0.8 %), FV 87.4 % lower
- Hut 8 Corp (0.7 %)
- Fox Corp Class B (0.6 %), 9.7 % below FV
- Cavco Industries Inc (0.5 %), 9.8 % below FV
- Hyperliquid Strategies Inc (0.4 %)
- Rambus Inc (0.4 %), 9.1 % below FV
- Rhythm Pharmaceuticals Inc (0.4 %)
Sold out:
- Broadcom Inc
- Option Care Health Inc
- Figure Technology Solutio
- Restaurant Brands Intl Inc
- Lattice Semiconductor Corp
- Humana Inc
- Twilio Inc
- Jabil Inc
- Ishares S&p Gsci Commodity-
- Bloom Energy Corp
- Intel Corp
- Cloudflare Inc
- Lyondellbasell Industries Nv
- Twist Bioscience Corp
- Coherent Corp
Options and bonds in the filing
These lines are not stock positions, so we do not value them. For options the filing reports the value of the underlying shares, not the price of the option.
| Security | Type | Weight |
|---|---|---|
| Invesco Exchange Traded Fd T | Call | 3.4 % |
| Ishares Inc | Call | 2.8 % |
| Insmed Inc | Call | 2.8 % |
| Amazon Com Inc | Call | 2.1 % |
| Ishares Tr | Call | 1.9 % |
| State Str Spdr S&p 500 Etf T | Call | 1.3 % |
| Tesla Inc | Call | 1.0 % |
| Cdw Corp | Call | 0.7 % |
| Meta Platforms Inc | Call | 0.5 % |
Frequently asked questions
What stocks does Stanley Druckenmiller own?
According to Duquesne Family Office' 13F filing for Q2 2026 (filed Aug 14, 2026), the five largest positions are Natera Inc (16.6 %), Taiwan Semiconductor Manufacturing (5.4 %), STMicroelectronics NV ADR (4.5 %), Insmed Inc (2.9 %), YPF Sociedad Anonima (2.7 %). In total the filing lists 86 stocks worth $5.2 m.
Which Stanley Druckenmiller stocks trade below fair value?
20 of the 60 stocks we value. The largest of them: Taiwan Semiconductor Manufacturing: 9% below fair value; YPF Sociedad Anonima: 17% below fair value; Alphabet Inc Class A: 10% below fair value; United Airlines Holdings Inc: 24% below fair value; Sea Ltd: 41% below fair value. As of Nov 8, 2026, not financial advice.
How current is this list?
Large US investment managers report their US stock holdings to the SEC once a quarter (Form 13F), at the latest 45 days after quarter end. This list shows Q2 2026, filed Aug 14, 2026. Duquesne Family Office may have bought or sold since. We recalculate our fair value daily, last on Nov 8, 2026.
Source of the holdings: 13F filing with the SEC (Duquesne Family Office, CIK 1536411). A 13F covers only US-listed stocks, options and certain bonds, no short positions and no foreign shares. Fair value and quality are our valuation and do not account for your personal situation.