Stanley Druckenmiller
Stanley Druckenmiller runs Duquesne, a family office overseeing $4.22B in disclosed equity holdings (SEC CIK 0001536411). The latest portfolio (2025Q4) discloses 58 positions across 9 sectors, with the largest positions in NTRA, XLF and INSM. On a mark-to-market basis the tracked portfolio has returned 57.4% over the past year. OpenStocks tracks 40 consecutive quarterly snapshots for this manager — every position change, new entry, and exit is logged below.
What Stanley is holding in options
Stanley Druckenmiller (Duquesne) disclosed 4 option positions for the 2025Q4 quarter — 4 long-calls and 0 long-puts — totaling $274.4M of underlying-share notional value. The largest exposures are a call on EWZ, a call on SPY, a call on IWM. Notional values reflect the value of the underlying shares at the quarter-end snapshot, not the option premium paid.
Options & derivatives
4 positions · $274.4M notional4 CALL · $274.4M| Type | Underlying | Shares | Notional | % of book |
|---|---|---|---|---|
| CALL | EWZISHARES INC | 4.2M | $134.3M | 3.0% |
| CALL | SPYSPDR S&P 500 ETF TR | 90K | $61.4M | 1.4% |
| CALL | IWMISHARES TR | 226K | $55.6M | 1.2% |
| CALL | AMZNAMAZON COM INC | 100K | $23.1M | 0.5% |
Notional = value of the underlying shares at the quarter-end snapshot, not the option premium paid. A long PUT is a bearish bet on the underlying; a long CALL is a bullish bet. The reported value is included in the portfolio total but does not reflect actual capital at risk.