德

德鲁肯米勒

Stanley Druckenmiller

Duquesne Family Office宏观择时$3B

曾为索罗斯管理量子基金的传奇交易员。以宏观择时和集中下注闻名，年化收益超30%。

持仓数量 Holdings

管理规模 AUM

$3B

做多 Long

做空/对冲 Short

组合收益 Portfolio Returns

组合收益率 Portfolio Returns

近1月 1M

-1.5%

近3月 3M

-0.3%

近6月 6M

+3.4%

近1年 1Y

+26.9%

近3年 3Y

+86.1%

近5年 5Y

+25.9%

加权回报 Weighted Return

+0.3%

胜率 Win Rate

57%

32W / 24L

盈亏比 P/L Ratio

1.6x

+0% / -0%

最大赢家 Best Pick

WWD

+1.3%

最大输家 Worst Pick

STUB

-0.7%

Top5 集中度 Concentration

37%

组合收益说明 Portfolio Return Methodology: 收益涨幅基于假设虚拟净值计算。收益涨幅 = (最新虚拟净值 - X周期前虚拟净值) / X周期前虚拟净值 × 100%。组合虚拟净值 = 成份标的的虚拟持仓净值之和。成份标的虚拟持仓净值 = 成份标的持有份额 × 前复权收盘价格。加权回报率基于 SEC 13F 披露的加权平均成本价 vs 当前市价，按持仓占比加权。数据每个交易日盘后更新。组合调仓（季度 13F 披露）时重新计算份额。收益涨幅仅供参考，不代表对未来收益的预测与保证，也不构成任何投资建议。

🏆 最赚钱持仓 Top Winners

🟢

WWDWOODWARDShare4.2%

avg$150.45→$353.35+134.9%$178.7M

2023-12-31(2.2年)减仓Industrials

🟢

ALMAlmonty Industries Inc.Share0.1%

avg$7.62→$16.20+112.6%$4.1M

2025-12-31(3月)持平Basic Materials

🟢

NTRANATERAShare13.6%

avg$96.72→$195.28+101.9%$575.3M

2022-09-30(3.5年)减仓Healthcare

🟢

SATSECHOSTARShare0.2%

avg$56.04→$109.84+96.0%$6.6M

2025-09-30(6月)加仓Technology

🟢

TSMTAIWAN SEMICONDUCTORShare3.9%

avg$189.93→$329.24+73.3%$165.0M

2024-09-30(1.5年)加仓Technology

🔔 重要信号 Key Signals2025年第4季度

NEW

XLF$301MNEW

RSP$225MNEW

AA$73MNEW

ENTG$71MNEW

LSCC$68MNEW

BE$64MNEW

DAL$45MNEW

UAL$39MNEW

ON$29MNEW

GS$24MNEW

STM$20MNEW

SCCO$17MNEW

RH$16MNEW

Z$13MNEW

CDTX$11MNEW

PM$11MNEW

AAL$10MNEW

AGX$9MNEW

DASH$8MNEW

PGNY$8MNEW

ADMA$5MNEW

ALM$4MNEW

WOLF$3MNEW

WVE$3M-36%

NTRA-39%

INSM-65%

TEVA-29%

TSM-19%

MELI-40%

DOCU-29%

ROKU-27%

FIGR-53%

EEM-46%

STUB-36%

CLF-54%

U-41%

DAKTCLOSED

VSTCLOSED

LENCLOSED

DHICLOSED

FWONKCLOSED

DKSCLOSED

PCGCLOSED

CRSCLOSED

CHYMCLOSED

TXRHCLOSED

MDBCLOSED

NUCLOSED

SMTCCLOSED

STXCLOSED

CCLOSED

KBECLOSED

METACLOSED

ARMCLOSED

VRNACLOSED

GPCCLOSED

ELVNCLOSED

POSTCLOSED

SNDKCLOSED

SYFCLOSED

ARGTCLOSED

COFCLOSED

SEICLOSED

TWLOCLOSED

BACCLOSED

EQTCLOSED

GEV

持仓分布 Portfolio Allocation2025年第4季度

91持仓数 Holdings

NTRA13.6%

XLF7.1%

INSM6.1%

RSP5.3%

TEVA4.3%

WWD4.2%

AMZN4.0%

TSM3.9%

其他 Other51.3%

管理规模 AUM

$3B

近1年 1Y Return

+26.9%

胜率 Win Rate

57%

Top5 集中度

37%

完整持仓 Full Holdings

#	方向	股票 Ticker	类型 Type	买入均价	当前价	收益率	占比 %	趋势 Trend	行业 Sector
1	🟢	NTRA NATERA	Share	$96.72	$195.28	+101.9%	13.6%	减仓	Healthcare
2	🟢	XLF FINANCIAL SELECT SECTOR SPDR FUND	Share	$53.10	$49.08	-7.6%	7.1%	加仓	-
3	🟢	INSM INSMED	Share	$82.37	$136.00	+65.1%	6.1%	加仓	Healthcare
4	🟢	RSP GUGGENHEIM S&P 500(R) EQUAL WEIGHT ETF	Share	$188.98	$190.48	+0.8%	5.3%	持平	-
5	🟢	TEVA TEVA PHARMACEUTICAL	Share	$17.49	$28.73	+64.3%	4.3%	减仓	Healthcare
6	🟢	WWD WOODWARD	Share	$150.45	$353.35	+134.9%	4.2%	减仓	Industrials
7	🟢	AMZN AMAZON	Share	$227.34	$205.37	-9.7%	4.0%	加仓	Consumer Cyclical
8	🟢	TSM TAIWAN SEMICONDUCTOR	Share	$189.93	$329.24	+73.3%	3.9%	加仓	Technology
9	🟢	CPNG COUPANG	Share	$26.42	$18.83	-28.7%	3.8%	减仓	Consumer Cyclical
10	🟢	GOOGL ALPHABET	Share	$266.30	$301.00	+13.0%	2.9%	加仓	Communication Services
11	🟢	SE SEA	Share	$124.66	$78.85	-36.7%	2.9%	加仓	Communication Services
12	🟢	EWZ ISHARES MSCI BRAZIL ETF	Share	$31.77	$35.06	+10.4%	2.7%	加仓	-
13	🟢	NAMS NEWAMSTERDAM PHARMA CO NV	Share	$27.63	$28.94	+4.7%	2.5%	加仓	Healthcare
14	🟢	MELI MERCADOLIBRE	Share	$1219.30	$1635.76	+34.2%	2.3%	加仓	Consumer Cyclical
15	🟢	TBBB BBB FOODS INC	Share	$28.37	$32.49	+14.5%	2.1%	加仓	Consumer Defensive
16	🟢	QSR RESTAURANT BRANDS INTERNATIONAL	Share	$66.39	$73.75	+11.1%	1.9%	加仓	Consumer Cyclical
17	🟢	COGT COGENT BIOSCIENCES	Share	$20.35	$33.38	+64.0%	1.9%	加仓	Healthcare
18	🟢	AA ALCOA	Share	$40.12	$56.45	+40.7%	1.7%	持平	Basic Materials
19	🟢	ENTG ENTEGRIS	Share	$86.49	$114.66	+32.6%	1.7%	加仓	Technology
20	🟢	DOCU DOCUSIGN	Share	$83.79	$47.23	-43.6%	1.6%	加仓	Technology
21	🟢	LSCC LATTICE SEMICONDUCTOR	Share	$70.68	$88.62	+25.4%	1.6%	持平	Technology
22	🟢	BE BLOOM ENERGY	Share	$105.65	$150.12	+42.1%	1.5%	持平	Industrials
23	🟢	WAB WESTINGHOUSE AIR BRAKE TECHNOLOGIES	Share	$159.03	$236.06	+48.4%	1.5%	加仓	Industrials
24	🟢	ROKU ROKU	Share	$68.55	$93.27	+36.1%	1.5%	加仓	Communication Services
25	🟢	FIGR Figure Technology Solutions	Share	$37.04	$34.29	-7.4%	1.5%	加仓	Financial Services
26	🟢	CRH CRH PUBLIC LTD	Share	$108.15	$100.47	-7.1%	1.4%	加仓	Basic Materials
27	🟢	OPCH OPTION CARE HEALTH	Share	$30.11	$28.16	-6.5%	1.3%	加仓	Healthcare
28	🟢	EEM ISHARES MSCI EMERGING MARKETS ETF	Share	$45.28	$55.64	+22.9%	1.2%	加仓	-
29	🟢	DAL DELTA AIR LINES	Share	$61.79	$63.44	+2.7%	1.1%	加仓	Industrials
30	🟢	UAL UNITED AIRLINES HOLDINGS	Share	$99.95	$89.95	-10.0%	0.9%	加仓	Industrials
31	🟢	STUB StubHub	Share	$20.77	$6.68	-67.8%	0.7%	加仓	Communication Services
32	🟢	ON ON SEMICONDUCTOR	Share	$51.04	$59.26	+16.1%	0.7%	持平	Technology
33	🟢	FLUT FLUTTER ENTERTAINMENT PLC	Share	$254.59	$104.81	-58.8%	0.6%	减仓	Consumer Cyclical
34	🟢	PCT PURECYCLE TECHNOLOGIES	Share	$10.49	$5.79	-44.8%	0.6%	加仓	Industrials
35	🟢	AEVA AEVA TECHNOLOGIES	Share	$20.28	$14.11	-30.4%	0.6%	加仓	Consumer Cyclical
36	🟢	GS GOLDMAN SACHS GROUP	Share	$811.56	$813.53	+0.2%	0.6%	加仓	Financial Services
37	🟢	CLF CLEVELAND-CLIFFS	Share	$10.41	$7.82	-24.9%	0.6%	加仓	Basic Materials
38	🟢	YPF YPF SOCIEDAD ANONIMA	Share	$32.70	$41.92	+28.2%	0.5%	减仓	Energy
39	🟢	STM STMICROELECTRONICS NV	Share	$25.80	$30.86	+19.6%	0.5%	持平	Technology
40	🟢	U UNITY SOFTWARE	Share	$22.44	$18.39	-18.0%	0.4%	加仓	Technology
41	🟢	SCCO SOUTHERN COPPER	Share	$134.07	$152.71	+13.9%	0.4%	持平	Basic Materials
42	🟢	DAKT DAKTRONICS	Share	$13.10	$20.16	+53.9%	0.4%	减仓	Technology
43	🟢	RH RH	Share	$170.80	$127.65	-25.3%	0.4%	持平	Consumer Cyclical
44	🟢	CMG CHIPOTLE	Share	$40.49	$33.37	-17.6%	0.3%	加仓	Consumer Cyclical
45	🟢	PTGX PROTAGONIST THERAPEUTICS	Share	$57.61	$98.87	+71.6%	0.3%	加仓	Healthcare
46	🟢	Z ZILLOW	Share	$72.49	$43.95	-39.4%	0.3%	持平	Communication Services
47	🟢	PM PHILIP MORRIS INTERNATIONAL	Share	$154.36	$163.11	+5.7%	0.3%	减仓	Consumer Defensive
48	🟢	CDTX CIDARA THERAPEUTICS	Share	$178.53	—	—	0.3%	持平	Healthcare
49	🟢	AAL AMERICAN AIRLINES GROUP	Share	$13.33	$10.43	-21.8%	0.2%	加仓	Industrials
50	🟢	AGX ARGAN	Share	$317.26	$473.85	+49.4%	0.2%	持平	Industrials
51	🟢	DASH DOORDASH	Share	$223.89	$156.64	-30.0%	0.2%	持平	Communication Services
52	🟢	PGNY PROGYNY	Share	$22.87	$18.13	-20.7%	0.2%	持平	Healthcare
53	🟢	SATS ECHOSTAR	Share	$56.04	$109.84	+96.0%	0.2%	加仓	Technology
54	🟢	ADMA ADMA BIOLOGICS	Share	$16.28	$14.32	-12.0%	0.1%	持平	Healthcare
55	🟢	ALM Almonty Industries Inc.	Share	$7.62	$16.20	+112.6%	0.1%	持平	Basic Materials
56	🟢	WOLF WOLFSPEED	Share	$26.84	$16.32	-39.2%	0.1%	持平	Technology
57	🟢	WVE WAVE LIFE SCIENCES	Share	$14.03	$11.76	-16.2%	0.1%	持平	Healthcare
58	🟢	SPY SPDR S&P 500 ETF	Call	—	$648.57	—	—	加仓	-
59	🟢	IWM ISHARES RUSSELL 2000 ETF	Call	—	$242.22	—	—	减仓	-
60	🟢	AMZN AMAZON	Call	—	$205.37	—	—	持平	Consumer Cyclical
61	🟢	EWZ ISHARES MSCI BRAZIL ETF	Call	—	$35.06	—	—	持平	-

期权持仓说明：期权市值为名义敞口（合约数 × 100 × 标的价格），非实际投入资金，不参与投资组合占比计算。 Options value shown is notional exposure (contracts × 100 × underlying price), not actual capital invested.

持仓变动 Portfolio Changes2025年第4季度

股票 Ticker	类型 Type	股数变动 Share Change	变动比例 Change %	当前市值 Value	占比 Weight
NTRA	减仓 Reduced	-1.4M	-35.9%	$575.3M	13.6%
XLF	建仓 New	+5.5M	New	$301.0M	7.1%
INSM	减仓 Reduced	-942K	-38.9%	$257.9M	6.1%
EWZ	增仓 Added	+85K	+2.4%	$247.2M	2.7%
RSP	建仓 New	+1.2M	New	$224.9M	5.3%
AMZN	增仓 Added	+602K	+438.6%	$193.4M	4.0%
TEVA	减仓 Reduced	-10.7M	-64.6%	$183.4M	4.3%
WWD	减仓 Reduced	-42K	-6.7%	$178.7M	4.2%
TSM	减仓 Reduced	-222K	-29.0%	$165.0M	3.9%
CPNG	增仓 Added	+2.1M	+46.2%	$159.8M	3.8%
GOOGL	增仓 Added	+283K	+276.7%	$120.5M	2.9%
SE	增仓 Added	+670K	+244.3%	$120.4M	2.9%
NAMS	增仓 Added	+1.1M	+59.6%	$107.7M	2.5%
MELI	减仓 Reduced	-11K	-19.2%	$95.0M	2.3%
TBBB	增仓 Added	+1.5M	+126.1%	$89.3M	2.1%
QSR	增仓 Added	+78K	+6.9%	$82.5M	1.9%
COGT	增仓 Added	+1.2M	+109.0%	$78.7M	1.9%
AA	建仓 New	+1.4M	New	$73.1M	1.7%
ENTG	建仓 New	+844K	New	$71.1M	1.7%
DOCU	减仓 Reduced	-667K	-39.5%	$69.7M	1.6%
LSCC	建仓 New	+926K	New	$68.1M	1.6%
BE	建仓 New	+741K	New	$64.3M	1.5%
WAB	减仓 Reduced	-2K	-0.8%	$64.1M	1.5%
ROKU	减仓 Reduced	-239K	-29.1%	$63.2M	1.5%
FIGR	减仓 Reduced	-577K	-27.3%	$62.9M	1.5%
CRH	增仓 Added	+81K	+20.6%	$59.3M	1.4%
OPCH	增仓 Added	+768K	+78.6%	$55.6M	1.3%
EEM	减仓 Reduced	-998K	-52.5%	$49.4M	1.2%
DAL	建仓 New	+651K	New	$45.2M	1.1%
UAL	建仓 New	+348K	New	$39.0M	0.9%
STUB	减仓 Reduced	-2.0M	-45.9%	$31.2M	0.7%
ON	建仓 New	+536K	New	$29.0M	0.7%
PCT	增仓 Added	+575K	+25.0%	$24.7M	0.6%
AEVA	减仓 Reduced	-14K	-0.8%	$24.2M	0.6%
GS	建仓 New	+28K	New	$24.2M	0.6%
CLF	减仓 Reduced	-969K	-35.7%	$23.2M	0.6%
YPF	增仓 Added	+492K	+429.2%	$21.9M	0.5%
STM	建仓 New	+774K	New	$20.1M	0.5%
U	减仓 Reduced	-472K	-53.5%	$18.1M	0.4%
SCCO	建仓 New	+122K	New	$17.3M	0.4%
DAKT	减仓 Reduced	-584K	-40.6%	$16.9M	0.4%
RH	建仓 New	+88K	New	$15.8M	0.4%
CMG	增仓 Added	+159K	+68.1%	$14.5M	0.3%
Z	建仓 New	+193K	New	$13.1M	0.3%
CDTX	建仓 New	+49K	New	$10.9M	0.3%
PM	建仓 New	+67K	New	$10.8M	0.3%
AAL	建仓 New	+640K	New	$9.8M	0.2%
AGX	建仓 New	+30K	New	$9.4M	0.2%
DASH	建仓 New	+36K	New	$8.1M	0.2%
PGNY	建仓 New	+295K	New	$7.6M	0.2%
ADMA	建仓 New	+252K	New	$4.6M	0.1%
ALM	建仓 New	+470K	New	$4.1M	0.1%
WOLF	建仓 New	+187K	New	$3.3M	0.1%
WVE	建仓 New	+173K	New	$2.9M	0.1%
VST	清仓 Closed	-234K	Closed	-	-
LEN	清仓 Closed	-279K	Closed	-	-
DHI	清仓 Closed	-205K	Closed	-	-
FWONK	清仓 Closed	-288K	Closed	-	-
DKS	清仓 Closed	-132K	Closed	-	-
PCG	清仓 Closed	-1.6M	Closed	-	-
CRS	清仓 Closed	-220K	Closed	-	-
CHYM	清仓 Closed	-43K	Closed	-	-
TXRH	清仓 Closed	-30K	Closed	-	-
MDB	清仓 Closed	-18K	Closed	-	-
NU	清仓 Closed	-1.5M	Closed	-	-
SMTC	清仓 Closed	-302K	Closed	-	-
STX	清仓 Closed	-86K	Closed	-	-
C	清仓 Closed	-515K	Closed	-	-
KBE	清仓 Closed	-482K	Closed	-	-
META	清仓 Closed	-76K	Closed	-	-
ARM	清仓 Closed	-168K	Closed	-	-
VRNA	清仓 Closed	-1.0M	Closed	-	-
GPC	清仓 Closed	-144K	Closed	-	-
ELVN	清仓 Closed	-947K	Closed	-	-
POST	清仓 Closed	-176K	Closed	-	-
SNDK	清仓 Closed	-166K	Closed	-	-
SYF	清仓 Closed	-262K	Closed	-	-
ARGT	清仓 Closed	-254K	Closed	-	-
COF	清仓 Closed	-44K	Closed	-	-
SEI	清仓 Closed	-146K	Closed	-	-
TWLO	清仓 Closed	-513K	Closed	-	-
BAC	清仓 Closed	-989K	Closed	-	-
EQT	清仓 Closed	-895K	Closed	-	-
GEV	清仓 Closed	-77K	Closed	-	-