宏观主观Discretionary macro · famous
Duquesne Family Office
杜肯家族办公室
研究可用度中Medium research usability
13F-RS 研究可用度13F-RS research usability
65.0
覆盖coverage 75% · 置信confidence B
结论先行Answer first
前五大占38.4%，最值得继续核验的动作是减持Alcoa CorpTop five represent 38.4%; reduction in Alcoa Corp is the clearest next diligence lead
最大可见非期权证券持仓为Natera Inc（16.6%）；季度快照换手代理为32.5%，前十大延续率为94.7%。该机构归入“主观宏观/家族办公室”，13F只能解释公开的美国可报告证券多头。
The largest visible non-option security is Natera Inc (16.6%). The quarterly snapshot turnover proxy is 32.5%, and top-ten persistence is 94.7%. The manager is classified as Discretionary macro/family office; 13F covers only visible reportable U.S. long securities.
按上季可见权重 × 股数降幅排序；完整非期权证券变化见下方。Ranked by prior visible weight × share decline; the full non-option security changes appear below.
下一步Next diligence
把减持Alcoa Corp作为研究线索，结合公司基本面、估值、催化剂及13D/G核验；不要直接跟单。
Treat the reduction in Alcoa Corp as a research lead and verify fundamentals, valuation, catalysts and any 13D/G filings; do not copy mechanically.
CIK · accession · accepted date
本季申报链Current filing chain
先展示 13F-NT 关系通知，再展示解析到的 13F-HR / HR-A。价值单位说明保留检测结果和归一化倍数。
Relationship notices appear before resolved 13F-HR / HR-A filings. Unit notes preserve the detection result and normalization multiplier.
| 法律申报人Legal filer | CIK | Form | Accession | 申报日Filed | 解析 / 单位说明Resolution / unit note |
|---|---|---|---|---|---|
| Duquesne Family Office LLC | CIK 0001536411 | 13F-HR | 0001536411-26-000006 | 2026-08-14 | legacy_thousands_detected_from_implied_prices; ×1000 |
2026-03-31 → 2026-06-30
持仓与季度变化Holdings and quarterly change
前十大可见非期权证券Top visible non-option holdings 10
| 证券Security | Put / Call | 申报价值Filed value | 权重Weight | 股数 / 标的股数Shares / underlying shares | 股数变化Share change |
|---|---|---|---|---|---|
| Natera IncCOM · CUSIP 632307104 | — | $864.9m | 16.60% | 3,186,306 | 4.0% |
| Taiwan Semiconductor ManufacSPONSORED ADS · CUSIP 874039100 | — | $281.6m | 5.40% | 589,680 | 19.1% |
| Stmicroelectronics N VNY REGISTRY · CUSIP 861012102 | — | $232.4m | 4.46% | 3,102,880 | 18.8% |
| Insmed IncCOM PAR $.01 · CUSIP 457669307 | — | $151.9m | 2.92% | 1,424,690 | 23.4% |
| Ypf Sociedad AnonimaSPON ADR CL D · CUSIP 984245100 | — | $142.7m | 2.74% | 3,138,897 | -3.0% |
| Amazon Com IncCOM · CUSIP 023135106 | — | $129.1m | 2.48% | 541,600 | 1,082.5% |
| Bbb Foods IncCL A COM · CUSIP G0896C103 | — | $120.9m | 2.32% | 2,901,733 | -6.7% |
| Alphabet IncCAP STK CL A · CUSIP 02079K305 | — | $120.2m | 2.31% | 336,300 | — |
| Ishares IncMSCI BRAZIL ETF · CUSIP 464286400 | — | $118.5m | 2.27% | 3,436,170 | 0.0% |
| Seagate Technology Hldngs PlORD SHS · CUSIP G7997R103 | — | $117.7m | 2.26% | 122,000 | 140.6% |
新建仓位New positions 10
| 证券Security | Put / Call | 申报价值Filed value | 权重Weight | 股数 / 标的股数Shares / underlying shares | 股数变化Share change |
|---|---|---|---|---|---|
| Alphabet IncCAP STK CL A · CUSIP 02079K305 | — | $120.2m | 2.31% | 336,300 | — |
| Fox CorpCL A COM · CUSIP 35137L105 | — | $115.0m | 2.21% | 2,204,600 | — |
| Cdw CorpCOM · CUSIP 12514G108 | — | $104.6m | 2.01% | 743,950 | — |
| Bitdeer Technologies GroupCL A ORD SHS · CUSIP G11448100 | — | $64.7m | 1.24% | 4,074,993 | — |
| Delta Air Lines IncCOM NEW · CUSIP 247361702 | — | $56.5m | 1.08% | 603,000 | — |
| Fluor CorpCOM · CUSIP 343412102 | — | $51.5m | 0.99% | 982,200 | — |
| D R Horton IncCOM · CUSIP 23331A109 | — | $48.7m | 0.94% | 299,000 | — |
| Advanced Micro Devices IncCOM · CUSIP 007903107 | — | $42.3m | 0.81% | 72,900 | — |
| Palo Alto Networks IncCOM · CUSIP 697435105 | — | $39.8m | 0.76% | 116,650 | — |
| Hut 8 CorpCOM · CUSIP 44812J104 | — | $36.3m | 0.70% | 314,150 | — |
增持仓位Added positions 10
| 证券Security | Put / Call | 申报价值Filed value | 权重Weight | 股数 / 标的股数Shares / underlying shares | 股数变化Share change |
|---|---|---|---|---|---|
| Insmed IncCOM PAR $.01 · CUSIP 457669307 | — | $151.9m | 2.92% | 1,424,690 | 23.4% |
| Amazon Com IncCOM · CUSIP 023135106 | — | $129.1m | 2.48% | 541,600 | 1,082.5% |
| Stmicroelectronics N VNY REGISTRY · CUSIP 861012102 | — | $232.4m | 4.46% | 3,102,880 | 18.8% |
| Seagate Technology Hldngs PlORD SHS · CUSIP G7997R103 | — | $117.7m | 2.26% | 122,000 | 140.6% |
| Natera IncCOM · CUSIP 632307104 | — | $864.9m | 16.60% | 3,186,306 | 4.0% |
| United Airls Hldgs IncCOM · CUSIP 910047109 | — | $108.1m | 2.07% | 794,795 | 202.8% |
| Revolution Medicines IncCOM · CUSIP 76155X100 | — | $74.8m | 1.44% | 399,587 | 26.5% |
| Taiwan Semiconductor ManufacSPONSORED ADS · CUSIP 874039100 | — | $281.6m | 5.40% | 589,680 | 19.1% |
| Purecycle Technologies IncCOM · CUSIP 74623V103 | — | $21.7m | 0.42% | 2,681,415 | 178.4% |
| Cleveland-Cliffs Inc NewCOM · CUSIP 185899101 | — | $39.6m | 0.76% | 4,216,184 | 82.2% |
减持仓位Reduced positions 10
用公司行动调整后的股数判断，按上季可见权重 × 股数降幅排序；报告权重变化不是交易量。Classified from corporate-action-adjusted shares and ranked by prior visible weight × share decline; reported weight change is not trading volume.
| 证券Security | Put / Call | 申报价值Filed value | 权重Weight | 股数 / 标的股数Shares / underlying shares | 股数变化Share change |
|---|---|---|---|---|---|
| Alcoa CorpCOM · CUSIP 013872106 | — | $9.7m | 0.19% | 185,640 | -87.6% |
| Roku IncCOM CL A · CUSIP 77543R102 | — | $25.4m | 0.49% | 184,055 | -75.5% |
| Teva Pharmaceutical Inds LtdSPONSORED ADS · CUSIP 881624209 | — | $21.2m | 0.41% | 624,999 | -73.7% |
| Woodward IncCOM · CUSIP 980745103 | — | $28.6m | 0.55% | 67,194 | -68.2% |
| Arm Holdings PlcSPONSORED ADS · CUSIP 042068205 | — | $10.0m | 0.19% | 28,090 | -73.7% |
| WabtecCOM · CUSIP 929740108 | — | $15.3m | 0.29% | 56,595 | -40.4% |
| Bbb Foods IncCL A COM · CUSIP G0896C103 | — | $120.9m | 2.32% | 2,901,733 | -6.7% |
| Global X FdsGB MSCI AR ETF · CUSIP 37950E259 | — | $30.0m | 0.58% | 328,800 | -15.1% |
| Ypf Sociedad AnonimaSPON ADR CL D · CUSIP 984245100 | — | $142.7m | 2.74% | 3,138,897 | -3.0% |
| Sandisk CorpCOM · CUSIP 80004C200 | — | $79.4m | 1.52% | 34,900 | -8.5% |
退出候选Apparent exits 10
仅表示排除已知公司事件后，本期未见同一可比证券；到期、退市及未知事件仍须核验。Only means the comparable security is absent after known event checks; maturities, delistings and unknown events still require review.
| 证券Security | Put / Call | 申报价值Filed value | 权重Weight | 股数 / 标的股数Shares / underlying shares | 股数变化Share change |
|---|---|---|---|---|---|
| Broadcom IncCOM · CUSIP 11135F101 | — | $60.6m | 1.80% | 195,955 | -100.0% |
| Option Care Health IncCOM NEW · CUSIP 68404L201 | — | $50.3m | 1.49% | 1,868,550 | -100.0% |
| Figure Technology SolutioCOM CL A · CUSIP 349381103 | — | $39.1m | 1.16% | 1,150,415 | -100.0% |
| Restaurant Brands Intl IncCOM · CUSIP 76131D103 | — | $33.6m | 0.99% | 454,435 | -100.0% |
| Lattice Semiconductor CorpCOM · CUSIP 518415104 | — | $30.0m | 0.89% | 323,135 | -100.0% |
| Humana IncCOM · CUSIP 444859102 | — | $23.8m | 0.71% | 137,505 | -100.0% |
| Twilio IncCL A · CUSIP 90138F102 | — | $22.9m | 0.68% | 181,760 | -100.0% |
| Jabil IncCOM · CUSIP 466313103 | — | $21.8m | 0.65% | 82,200 | -100.0% |
| Ishares S&P Gsci Commodity-UNIT BEN INT · CUSIP 46428R107 | — | $20.7m | 0.61% | 643,000 | -100.0% |
| Bloom Energy CorpCOM CL A · CUSIP 093712107 | — | $18.5m | 0.55% | 136,320 | -100.0% |
期权切片Options slice 9
Put/Call 股数是标的股数；13F 没有执行价、到期日、权利金或净方向。Put/call shares are underlying shares; 13F omits strike, expiry, premium and net direction.
| 证券Security | Put / Call | 申报价值Filed value | 权重Weight | 股数 / 标的股数Shares / underlying shares | 股数变化Share change |
|---|---|---|---|---|---|
| Invesco Exchange Traded Fd TS&P500 EQL WGT · CUSIP 46137V357 | CALL | $174.7m | 3.35% | 821,000 | 0.0% |
| Ishares IncMSCI BRAZIL ETF · CUSIP 464286400 | CALL | $145.9m | 2.80% | 4,228,000 | 0.0% |
| Insmed IncCOM PAR $.01 · CUSIP 457669307 | CALL | $143.9m | 2.76% | 1,350,000 | — |
| Amazon Com IncCOM · CUSIP 023135106 | CALL | $109.5m | 2.10% | 459,300 | 129.7% |
| Ishares TrRUSSELL 2000 ETF · CUSIP 464287655 | CALL | $99.1m | 1.90% | 330,000 | 317.7% |
| State Str Spdr S&P 500 Etf TTR UNIT · CUSIP 78462F103 | CALL | $67.2m | 1.29% | 90,000 | 0.0% |
| Tesla IncCOM · CUSIP 88160R101 | CALL | $53.0m | 1.02% | 126,000 | — |
| Cdw CorpCOM · CUSIP 12514G108 | CALL | $35.2m | 0.68% | 250,000 | — |
| Meta Platforms IncCL A · CUSIP 30303M102 | CALL | $28.2m | 0.54% | 50,000 | — |
13F-RS-v1.0
评分拆解Score breakdown
| 维度Dimension | 得分Score | 相对满分Relative to max | 比例Ratio |
|---|---|---|---|
| 申报完整性Filing integrity | 12.7 / 15 | 85% | |
| 实体映射Entity mapping | 10.0 / 10 | 100% | |
| 策略适配度Strategy fit | 6.8 / 15 | 45% | |
| 集中度信息密度Concentration signal | 9.1 / 10 | 91% | |
| 高确信度可识别性Conviction identifiability | 8.0 / 15 | 53% | |
| 延续性 / 换手Persistence / turnover | 7.8 / 10 | 78% | |
| 申报时滞Filing lag | 0.0 / 10 | 0% | |
| 不可见风险Opacity risk | 6.3 / 10 | 63% | |
| 独立共识Independent consensus | 4.3 / 5 | 86% |
策略分类：宏观主观。分数衡量公开13F的研究可用度，不评价未来收益。Strategy classification: Discretionary macro. The score measures public-13F research usability, not future returns.
H（高确信度可识别性）当前以单仓≥2%为有限代理，尚未接入风格基准主动权重，因此该分项覆盖度只有50%。H (conviction identifiability) currently uses positions ≥2% as a limited proxy; style-benchmark active weights are not yet available, so this component has only 50% coverage.