Stanley Druckenmiller 13F: Duquesne Q1 2026

What did Stanley Druckenmiller's latest 13F show?

The latest effective Duquesne Family Office filing in Arkolith's 13F corpus is the Q1 2026 Form 13F-HR for the quarter ended March 31, 2026. The filing was accepted by the SEC on May 15, 2026 at 19:19:22 UTC under accession number 0001536411-26-000004. The primary record is the SEC's SEC filing detail page.

The filing aggregate is $3.3768 billion. In Arkolith's parsed production data, that breaks into about $2.9372 billion across 65 positive non-option stock and ETF lines, plus about $439.7 million across five call-option lines. That distinction matters because a 13F option line is not the same exposure shape as owning the common stock outright.

Source: Duquesne Family Office Form 13F-HR for Q1 2026, SEC accession 0001536411-26-000004, parsed from EDGAR and queried from Arkolith production on August 4, 2026.

Which Duquesne positions changed most?

Natera was the dominant disclosed long line. Duquesne reported 3,063,606 shares worth about $612.7 million, up from 2,511,357 shares in the prior comparable filing. A single stock making up about one-fifth of the positive non-option book is the first thing to test when the next 13F arrives.

YPF and STMicroelectronics were the largest proportional additions among the top lines. YPF rose from 606,990 shares to 3,235,962 shares, a 433.1% increase. STMicroelectronics rose from 773,555 shares to 2,612,880 shares, a 237.8% increase.

The largest share-count reductions were Coupang and Teva. Coupang fell from 6,772,909 shares to 2,667,485, a 60.6% reduction. Teva fell from 5,874,870 shares to 2,377,285, a 59.5% reduction. Amazon was also cut sharply, down 93.8% by share count to a $9.5 million reported stock line, while Duquesne separately reported an Amazon call-option line worth about $41.7 million.

What was new in the filing?

Broadcom was the largest new positive non-option line in the Q1 comparison. Duquesne reported 195,955 shares worth about $60.7 million. Other new lines included Global X MSCI Argentina ETF at about $36.2 million, Caris Life Sciences at about $33.9 million, Revolution Medicines at about $30.7 million, and SanDisk at about $24.2 million.

The most important exited or absent lines from the prior positive-long book were macro and mega-cap exposures: Select Sector SPDR Financials ETF, Invesco S&P 500 Equal Weight ETF, Alphabet, Cogent Biosciences, Entegris, DocuSign, iShares MSCI Emerging Markets ETF, and Delta Air Lines. A 13F absence means the prior reportable long line is no longer present in the latest parsed positive-long book. It does not prove the manager has no economic exposure through instruments outside 13F reporting.

How much option exposure did Duquesne report?

Duquesne's Q1 filing included five positive call-option lines with about $439.7 million of reported value. The largest were iShares MSCI Brazil ETF calls at about $162.3 million and Invesco S&P 500 Equal Weight ETF calls at about $157.6 million. It also reported SPY calls at about $58.5 million, Amazon calls at about $41.7 million, and iShares Russell 2000 ETF calls at about $19.6 million.

That option bucket is why the filing aggregate should not be read as a simple list of common-stock ownership. A call option can express direction, volatility, timing, or portfolio hedging differently from a cash equity position. The 13F proves the reported option line and its value field. It does not disclose the full strategy, premium paid, strike, expiry, or current exposure after quarter end.

For the same reason, compare stock lines and option lines separately before making a claim about position size. The mechanics behind this distinction are covered in 13F options, puts and calls explained.

How should readers interpret a Duquesne 13F?

A 13F is useful because it creates a public, source-backed snapshot. It is not live portfolio surveillance. The SEC's SEC Form 13F FAQ describes the form as a quarterly report for institutional investment managers that meet the Section 13(f) threshold. The Form 13F instructions set the due date at 45 days after quarter end.

That clock is the boundary. Duquesne's Q1 filing was accepted on May 15, 2026, and it describes reportable holdings as of March 31, 2026. It does not prove what Druckenmiller owned in June, July, or today. It also omits shorts, cash, many derivatives, private holdings, and non-reportable foreign securities.

The useful read is narrower and stronger: the public Q1 source record shows a concentrated Natera line, fresh Broadcom exposure, large changes in YPF and STMicroelectronics, meaningful call-option value, and several prior macro or mega-cap lines absent from the latest positive-long book.

Where can I verify Duquesne's 13F?

Start with the SEC accession page, then inspect the rendered fund page. The SEC page proves the filing exists, its form type, and the source documents. The SEC submissions JSON feed is the machine-readable SEC feed for recent Duquesne filings, while the Stanley Druckenmiller fund page keeps Duquesne's latest holdings, historical filings, position changes, and source links in one place.

For a programmatic workflow, resolve the fund by CIK 1536411, pull the latest holdings, and keep the accession number beside every position. That source-carrying pattern is the practical reason to use a structured 13F holdings API or the MCP quickstart instead of asking a model to remember a portfolio from training data.

If the next step is an agent workflow rather than a manual read, connect the data layer, then ask for Duquesne's latest holdings with non-option lines separated from option lines.

What should an analyst watch next?

The next useful question is what survives into the next public filing. Duquesne's Q1 filing creates several specific watch points:

Those watch points are better than a generic copy-trade question because they state the uncertainty before the next filing arrives. The next 13F can answer whether the lines changed. It cannot answer why unless Duquesne says so in a separate primary source.

Frequently asked questions about Stanley Druckenmiller's 13F

What is Duquesne Family Office's 13F CIK?

The Duquesne Family Office 13F filer in this article is CIK 1536411. The Q1 2026 accession used here is 0001536411-26-000004.

What was Stanley Druckenmiller's largest Q1 2026 13F holding?

Natera was the largest positive non-option line by reported value at about $612.7 million, or about 20.9% of Duquesne's positive non-option book.

Did Duquesne buy Broadcom in Q1 2026?

The effective 13F comparison shows Broadcom as a new reported stock line with 195,955 shares and about $60.7 million of reported value. A 13F proves the quarter-end disclosed line, not the exact trade date.

Did Duquesne sell Alphabet?

Alphabet appeared in the prior positive-long book and was absent from the latest parsed positive-long book. That supports an exited-reportable-long read, but it does not rule out exposure outside reportable 13F long securities.

Is a 13F the whole Duquesne portfolio?

No. Form 13F covers reportable U.S. long securities and certain option positions. It omits shorts, cash, many derivatives, private positions, and current changes after quarter end.

This article reports public regulatory filings and data workflows. It is not investment advice, legal advice, tax advice, or accounting advice.