Duquesne Family Office is run by billionaire Stanley Druckenmiller, formerly of two of the top performing hedge funds of all time – George Soros’s Quantum Fund, which he headed from 1988 to 2000, and his own firm (Duquesne), which was converted from a hedge fund into a family office in 2010 after 29 years of operation. Druckenmiller is known as the originator of the well-known short of the British pound in 1992 that netted the Quantum Fund around $1 billion in profits. He is philosophically against the notion of diversification, viewing it more in line with “diworseification,” and is known as being aggressive with leverage. He has a nearly impeccable investment track record, returning nearly 30% annualized (with zero down years) during his time at Duquesne Capital Management. As such, it can be interesting to see what Druckenmiller owns on a quarter to quarter basis. 13F filings of course only cover long equity positions and ignore derivatives, shorts, fixed-income holdings, and virtually everything else. But it can still shed some insight into how somebody thinks. Based on his Q3-end holdings, Druckenmiller appears well positioned and heavily entrenched in growth names, nearly all of which are tech and consumer discretionary. His top ten holdings take up 65% of the portfolio and consist of GOOGL, MSFT, FB, CRM, AMZN, PCLN, BABA, EA, JD, and WDAY. Citi (C), a new position, is the only non-tech or non-consumer discretionary holding above an allocation of 2%. The top five buys of the quarter included C, WDAY, GOOGL, CRM, and CB. Top sells included CMCSA, MRK, NOW, ADSK, and NTES. Druckenmiller also sold out of 11 names entirely last quarter, including his stakes in airlines DAL, AAL, and UAL. A complete list of holdings can be found below: (click to enlarge)