Gains are reinvested — principal and returns grow together.
Hypothetical backtest — not a real trading record. Simulated on public data from 2013-08: each position is bought only after the filing became public (using no information unavailable at the time), with trading costs deducted, on a total-return basis. Past performance does not predict future results.
Concentrated top-down macro: bet big on the highest-conviction ideas, and cut losses the moment the thesis breaks. Druckenmiller ran Soros's Quantum Fund and shared the lead in the legendary 1992 sterling trade that broke the Bank of England. His own Duquesne compounded at roughly 30% a year for three decades with virtually no down years, a standing benchmark for discipline.
| Ticker | Name | Weight | vs last filing |
|---|---|---|---|
| NTRA | Natera, Inc. Common Stock | 20.9% | +7.2 ▲ |
| TSM | Taiwan Semiconductor Manufacturing Company Ltd. | 5.7% | +1.8 ▲ |
| YPF | YPF Sa-adr | 5.1% | +4.6 ▲ |
| EWZ | iShares MSCI Brazil ETF | 4.5% | +1.8 ▲ |
| AA | Alcoa Corporation | 3.4% | +1.6 ▲ |
| SE | Sea Limited American Depositary Shares, each representing one Class A Ordinary Share | 3.1% | +0.3 ▲ |
| STM | Stmicroelectronics N V | 3.1% | +2.6 ▲ |
| WWD | Woodward, Inc. | 2.6% | −1.7 ▼ |
| TEVA | Teva Pharmaceutical Industries Limited American Depositary Shares | 2.4% | −1.9 ▼ |
| ROKU | Roku, Inc. Class A Common Stock | 2.4% | +0.9 ▲ |
| AVGO | Broadcom Inc. Common Stock | 2.1% | New |
| CPNG | Coupang, Inc. | 1.7% | −2.1 ▼ |
| OPCH | Option Care Health, Inc. Common Stock | 1.7% | +0.4 ▲ |
| FIGR | Figure Technology Solutions, Inc. Class A Common Stock | 1.3% | — |
| ARGT | Global X Fds | 1.2% | New |
| CAI | Caris Life Sciences Inc | 1.1% | New |
| QSR | Restaurant Brands International Inc. | 1.1% | −0.8 ▼ |
| RVMD | Revolution Medicines Inc | 1.1% | New |
| LSCC | Lattice Semiconductor Corp | 1.0% | −0.6 ▼ |