Investor: Stanley Druckenmiller
Number of Assets: 65
Reporting Period: Q3 - 2025
Holdings at Report: $4,062,007,000
Return Since Report: +$1,128,815,512
Return Since Report: +27.79%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Capital One Financial Corp. (COF) | Equity | +100% | 43,920 | 0.24% | $212.59 | $201.53 | $9,337,000 | $8,851,198 | -$485,802 | -5.20% |
| D.R. Horton Inc. (DHI) | Equity | +165.05% | 205,150 | 0.88% | $169.47 | $157.81 | $34,767,000 | $32,374,722 | -$2,392,279 | -6.88% |
| Echostar Corp. (SATS) | Equity | +100% | 60,765 | 0.12% | $76.36 | $109.17 | $4,640,000 | $6,633,715 | +$1,993,715 | +42.97% |
| GE Vernova Inc. (GEV) | Equity | +100% | 77,320 | 1.21% | $614.90 | $1,109.73 | $47,544,000 | $85,804,324 | +$38,260,324 | +80.47% |
| Ishares MSCI Emerging Markets ETF (EEM) | Equity | +100% | 1,900,000 | 2.58% | $53.40 | N/A | $101,460,000 | N/A | N/A | N/A |
| Mercadolibre Inc. (MELI) | Equity | +8.60% | 58,344 | 3.47% | $2,336.93 | $1,635.15 | $136,346,000 | $95,401,192 | -$40,944,808 | -30.03% |
| Restaurant Brands International Inc. (QSR) | Equity | +50.65% | 1,131,365 | 1.85% | $64.14 | $73.44 | $72,566,000 | $83,087,446 | +$10,521,446 | +14.50% |
| SPDR S&P 500 ETF Trust (SPY) | Call | +100% | 90,000 | N/A | $666.18 | N/A | $59,956,000 | N/A | N/A | N/A |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | 0% | 765,085 | 5.44% | $279.29 | $462.12 | $213,681,000 | $353,561,080 | +$139,880,080 | +65.46% |
| Woodward Inc. (WWD) | Equity | -25.43% | 633,015 | 4.07% | $252.71 | $430.08 | $159,969,000 | $272,247,091 | +$112,278,091 | +70.19% |
| Carpenter Technology Corp. (CRS) | Equity | +73.76% | 220,035 | 1.37% | $245.54 | $586.47 | $54,027,000 | $129,043,926 | +$75,016,926 | +138.85% |
| Enliven Therapeutics Inc. (ELVN) | Equity | +104.62% | 947,405 | 0.49% | $20.47 | $45.10 | $19,393,000 | $42,727,966 | +$23,334,966 | +120.33% |
| Genuine Parts Company (GPC) | Equity | +100% | 144,185 | 0.51% | $138.60 | $108.70 | $19,984,000 | $15,672,910 | -$4,311,090 | -21.57% |
| Meta Platforms Inc. (META) | Equity | +100% | 76,100 | 1.42% | $734.38 | $577.22 | $55,886,000 | $43,926,442 | -$11,959,558 | -21.40% |
| Newamsterdam Pharma Company N.V. (NAMS) | Equity | +131.17% | 1,923,700 | 1.39% | $28.44 | $29.83 | $54,710,000 | $57,383,971 | +$2,673,971 | +4.89% |
| Post Holdings Inc. (POST) | Equity | +100% | 176,400 | 0.48% | $107.48 | N/A | $18,959,000 | N/A | N/A | N/A |
| Teva Pharmaceutical Industries Limited (TEVA) | Equity | +3.91% | 16,593,935 | 8.53% | $20.20 | $31.48 | $335,197,000 | $522,377,074 | +$187,180,074 | +55.84% |
| Verona Pharma PLC (VRNA) | Equity | 0% | 1,002,080 | 2.72% | $106.71 | $106.91 | $106,932,000 | $107,132,373 | +$200,373 | +0.19% |
| Bank Of America Corp. (BAC) | Equity | +189.34% | 989,250 | 1.30% | $51.59 | $56.20 | $51,035,000 | $55,595,850 | +$4,560,850 | +8.94% |
| Dick'S Sporting Goods Inc. (DKS) | Equity | +100% | 132,425 | 0.75% | $222.22 | $232.96 | $29,427,000 | $30,849,728 | +$1,422,728 | +4.83% |
| Global X MSCI Argentina ETF (ARGT) | Equity | -5.10% | 254,045 | 0.45% | $69.76 | $97.10 | $17,722,000 | $24,667,770 | +$6,945,770 | +39.19% |
| Lennar Corp. (LEN) | Equity | +210.82% | 279,424 | 0.90% | $126.04 | $89.73 | $35,219,000 | $25,072,716 | -$10,146,284 | -28.81% |
| Protagonist Therapeutics Inc. (PTGX) | Equity | +100% | 159,700 | 0.27% | $66.43 | $112.86 | $10,609,000 | $18,023,742 | +$7,414,742 | +69.89% |
| Stubhub Hldgs INC | Equity | +100% | 4,259,516 | 1.82% | $16.84 | N/A | $71,730,000 | N/A | N/A | N/A |
| Texas Roadhouse Inc. (TXRH) | Equity | +100% | 29,800 | 0.13% | $166.14 | N/A | $4,951,000 | N/A | N/A | N/A |
| CRH PLC (CRH) | Equity | +100% | 393,820 | 1.20% | $119.90 | $111.24 | $47,219,000 | $43,808,537 | -$3,410,463 | -7.22% |
| Docusign Inc. (DOCU) | Equity | +30.65% | 1,685,950 | 3.09% | $72.09 | $43.47 | $121,540,000 | $73,288,247 | -$48,251,753 | -39.70% |
| Flutter Entertainment PLC (FLUT) | Equity | -71.57% | 115,245 | 0.74% | $254.00 | $101.83 | $29,272,000 | $11,735,398 | -$17,536,602 | -59.91% |
| Formula One Group (FWONK) | Equity | +100% | 288,400 | 0.77% | $104.45 | $90.76 | $30,123,000 | $26,175,184 | -$3,947,816 | -13.11% |
| Purecycle Technologies Inc. (PCT) | Equity | 0% | 2,303,084 | 0.77% | $13.15 | $8.70 | $30,286,000 | $20,036,831 | -$10,249,169 | -33.84% |
| Sea Limited (SE) | Equity | -11.47% | 274,200 | 1.25% | $178.73 | $91.28 | $49,008,000 | $25,028,976 | -$23,979,024 | -48.93% |
| Synchrony Financial (SYF) | Equity | +100% | 261,825 | 0.47% | $71.05 | $75.26 | $18,603,000 | $19,704,950 | +$1,101,949 | +5.92% |
| BBB Foods Inc. (TBBB) | Equity | +228.14% | 1,183,125 | 0.81% | $26.96 | $42.10 | $31,897,000 | $49,809,563 | +$17,912,562 | +56.16% |
| Citigroup Inc. (C) | Equity | -22.73% | 514,850 | 1.33% | $101.50 | $143.06 | $52,257,000 | $73,654,441 | +$21,397,441 | +40.95% |
| Aeva Technologies Inc. (AEVA) | Equity | +100% | 1,839,314 | 0.68% | $14.50 | N/A | $26,670,000 | N/A | N/A | N/A |
| Insmed Inc. (INSM) | Equity | +7.54% | 2,423,435 | 8.88% | $144.01 | $95.80 | $348,999,000 | $232,165,073 | -$116,833,927 | -33.48% |
| Option Care Health Inc. (OPCH) | Equity | +53.52% | 977,685 | 0.69% | $27.76 | $26.95 | $27,141,000 | $26,348,611 | -$792,389 | -2.92% |
| Solaris Energy Infras inc (SOI) | Equity | +100% | 145,600 | 0.15% | $39.97 | N/A | $5,820,000 | N/A | N/A | N/A |
| Twilio Inc. (TWLO) | Equity | +155.79% | 512,800 | 1.31% | $100.09 | $186.17 | $51,326,000 | $95,467,976 | +$44,141,976 | +86.00% |
| Westinghouse Air Brake Technologies Corp. (WAB) | Equity | +77.36% | 302,410 | 1.54% | $200.47 | $273.83 | $60,624,000 | $82,808,930 | +$22,184,930 | +36.59% |
| Amazon.com Inc. (AMZN) | Equity | +100% | 437,070 | 2.44% | $219.57 | $244.39 | $95,967,000 | $106,815,537 | +$10,848,537 | +11.30% |
| Cleveland-Cliffs Inc. (CLF) | Equity | +100% | 2,715,035 | 0.84% | $12.20 | N/A | $33,123,000 | N/A | N/A | N/A |
| Seagate Technology Holdings PLC (STX) | Equity | -56.50% | 85,900 | 0.52% | $236.07 | $1,070.23 | $20,278,000 | $91,932,757 | +$71,654,757 | +353.36% |
| Arm Holdings PLC (ARM) | Equity | +100% | 167,900 | 0.60% | $141.49 | $439.46 | $23,756,000 | $73,785,334 | +$50,029,334 | +210.60% |
| Daktronics Inc. (DAKT) | Equity | -53.29% | 1,436,936 | 0.76% | $20.92 | $20.76 | $30,061,000 | $29,830,791 | -$230,209 | -0.77% |
| Ishares Russell 2000 ETF (IWM) | Call | +100% | 226,000 | N/A | $241.96 | N/A | $54,683,000 | N/A | N/A | N/A |
| Roku Inc. (ROKU) | Equity | -25.27% | 822,435 | 2.09% | $100.13 | $138.07 | $82,350,000 | $113,553,600 | +$31,203,600 | +37.89% |
| Semtech Corp. (SMTC) | Equity | +100% | 301,515 | 0.55% | $71.45 | $158.23 | $21,543,000 | $47,708,718 | +$26,165,718 | +121.46% |
| SPDR S&P Bank ETF (KBE) | Equity | +100% | 482,095 | 0.73% | $59.42 | N/A | $28,646,000 | N/A | N/A | N/A |
| YPF Sociedad Anónima (YPF) | Equity | -83.71% | 114,695 | 0.07% | $24.29 | $50.45 | $2,786,000 | $5,786,363 | +$3,000,363 | +107.69% |
| Alphabet Inc. (GOOGL) | Equity | +100% | 102,200 | 0.63% | $243.10 | $368.03 | $24,845,000 | $37,612,666 | +$12,767,666 | +51.39% |
| Natera Inc. (NTRA) | Call | +100% | 100,000 | N/A | $160.97 | N/A | $16,097,000 | N/A | N/A | N/A |
| PG&E Corp. (PCG) | Equity | +100% | 1,649,300 | 0.63% | $15.08 | $16.48 | $24,871,000 | $27,180,464 | +$2,309,464 | +9.29% |
| Unity Software Inc. (U) | Equity | -50.26% | 882,500 | 0.90% | $40.04 | $26.73 | $35,335,000 | $23,589,225 | -$11,745,775 | -33.24% |
| Chipotle Mexican Grill Inc. (CMG) | Equity | +100% | 233,205 | 0.23% | $39.19 | $32.49 | $9,139,000 | $7,576,830 | -$1,562,170 | -17.09% |
| Coupang Inc. (CPNG) | Equity | +12.85% | 4,633,124 | 3.79% | $32.20 | $18.00 | $149,187,000 | $83,396,232 | -$65,790,768 | -44.10% |
| Figure Technology Solutio | Equity | +100% | 2,116,825 | 1.96% | $36.37 | N/A | $76,989,000 | N/A | N/A | N/A |
| Natera Inc. (NTRA) | Equity | +4.19% | 3,214,532 | 13.16% | $160.97 | $231.41 | $517,443,000 | $743,874,850 | +$226,431,850 | +43.76% |
| Sandisk Corp (SNDK) | Equity | +100% | 166,235 | 0.47% | $112.20 | $2,184.75 | $18,652,000 | $363,181,916 | +$344,529,916 | +1847.15% |
| Chime Financial Inc. (CHYM) | Equity | -90.74% | 43,230 | 0.02% | $20.17 | $17.60 | $872,000 | $760,848 | -$111,152 | -12.75% |
| Cogent Biosciences Inc. (COGT) | Equity | +100% | 1,059,580 | 0.39% | $14.36 | $34.54 | $15,216,000 | $36,597,893 | +$21,381,893 | +140.52% |
| EQT Corp. (EQT) | Equity | -28.56% | 894,950 | 1.24% | $54.43 | $50.72 | $48,712,000 | $45,391,864 | -$3,320,136 | -6.82% |
| Mongodb Inc. (MDB) | Equity | +100% | 17,710 | 0.14% | $310.39 | $332.75 | $5,497,000 | $5,893,003 | +$396,003 | +7.20% |
| Nu Holdings Ltd. (NU) | Equity | -57.42% | 1,454,180 | 0.59% | $16.01 | $12.71 | $23,281,000 | $18,482,628 | -$4,798,372 | -20.61% |
| Vistra Corp. (VST) | Equity | +100% | 233,985 | 1.17% | $195.92 | $163.75 | $45,842,000 | $38,315,044 | -$7,526,956 | -16.42% |