13F-HR 1 q1_2010-13f.txt Q1 2010 13F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2010 ---------------- Check here if Amendment [_]; Amendment Number: N/A ------- This Amendment ( Check only one): [_] is a restatement. [_] adds new holdings entries Institutional Investment Manager Filing this Report: Name: Duquesne Capital Management, L.L.C. ---------------------------------------------- Address: 2579 Washington Road, Suite 322 ---------------------------------------------- Pittsburgh, PA 15241 ---------------------------------------------- Form 13F File Number: 28-03925 ---------------------------------------------- The institutional investment manager filing this report and the person by whom it is signed herby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that is understood that all required items, statements, schedules, list, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Joseph W. Haleski ----------------------------------------------- Title: Vice President & Managing Director ----------------------------------------------- Phone: 412-854-3112 ----------------------------------------------- Signature, Place, and Date of Signing: /s/ Joseph W. Haleski Pittsburgh, PA 05/14/10 ---------------------- ------------------- ---------- [Signature] [City, State] [Date] Report Type [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 -------------- Form 13F Information Table Entry Total: 194 -------------- Form 13F Information Table Value Total: $ 4,493,503 (thousands) -------------- List of Other Included Managers: NONE Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Voting Authority Title Value Shrs Or Sh/ Put/ Invstmt Other ------------------- Name of Issuer of Class Cusip (x$1000) Prn Amt Prn Call Dscretn Mngrs Sole Shared None ---------------------------- -------------- ---------- ---------- ---------- --- --- -------- -------- ---------- ------ ----- AMB Property Corp COM 00163T109 2,018 74,100 SH SOLE 74,100 AOL Time Warner Inc. COM 00184X105 12,640 500,000 SH SOLE 500,000 Abraxis Bioscience Inc. COM 00383Y102 8,591 166,007 SH SOLE 166,007 Acorda Therapeutics Inc. COM 00484M106 6,840 200,000 SH SOLE 200,000 Alexion Pharms Inc. COM 015351109 64,108 1,179,100 SH SOLE 1,179,100 Allegheny Technologies Inc. COM 01741R102 23,756 440,000 SH SOLE 440,000 Allergan Inc. COM 018490102 14,266 218,400 SH SOLE 218,400 Allos Therapeutics Inc. COM 019777101 10,402 1,400,000 SH SOLE 1,400,000 Altria Group Inc. COM 02209S103 4,984 242,900 SH SOLE 242,900 Amazon.com Inc. COM 023135106 35,086 258,500 SH SOLE 258,500 American Elec Power Co Inc. COM 025537101 15,135 442,800 SH SOLE 442,800 American Water Works Co. COM 030420103 1,029 47,300 SH SOLE 47,300 Amgen Inc. COM 031162100 20,423 341,751 SH SOLE 341,751 Anadarko Petroleum Corp COM 032511107 10,189 139,900 SH SOLE 139,900 AngloGold Ltd SPON ADR 035128206 3,989 105,100 SH SOLE 105,100 Apartment Investment & Mgmt CL A 03748R101 2,564 139,275 SH SOLE 139,275 Apple Inc. COM 037833100 224,015 953,540 SH SOLE 953,540 ArthroCare Corp COM 043136100 11,888 400,000 SH SOLE 400,000 BB&T Corp COM 054937107 761 23,500 SH SOLE 23,500 Baidu.com Inc. SP ADR REP A 056752108 65,133 109,100 SH SOLE 109,100 Banco Santander Brasil SA ADS REP 1 UNIT 05967A107 9,968 801,919 SH SOLE 801,919 Bank of America Corp 7.25% CNV PFD L 060505682 1,950 2,000 SH SOLE 2,000 Baxter Int'l Inc. COM 071813109 34,920 600,000 SH SOLE 600,000 Best Buy Co Inc. COM 086516101 56,072 1,318,100 SH SOLE 1,318,100 BioMed Realty Trust Inc. COM 09063H107 979 59,200 SH SOLE 59,200 Biovail Corp COM 09067J109 20,963 1,250,000 SH SOLE 1,250,000 Borg-Warner Inc. COM 099724106 10,801 282,909 SH SOLE 282,909 Boyd Gaming Corp COM 103304101 521 52,725 SH SOLE 52,725 Broadcom Corp CL A 111320107 28,203 850,000 SH SOLE 850,000 CBL & Associates Prop's Inc.COM 124830100 384 28,000 SH SOLE 28,000 CB Richard Ellis Group Inc. CL A 12497T101 1,106 69,750 SH SOLE 69,750 CF Industries Holdings Inc. COM 125269100 205,619 2,255,094 SH SOLE 2,255,094 CMS Energy Corp COM 125896100 5,007 323,900 SH SOLE 323,900 CMS Energy Corp. NOTE 5.5% 6/15/29 125896BD1 2,392 2,000,000 PRIN SOLE 2,000,000 Cabot Oil & Gas Corp COM 127097103 34,736 943,900 SH SOLE 943,900 Calpine Corp COM 131347304 131,552 11,064,107 SH SOLE 11,064,107 Camden Property Trust SH BEN INT 133131102 1,087 26,100 SH SOLE 26,100 Capital Trust Inc. CL A 14052H506 76 49,350 SH SOLE 49,350 Cardiovascular Systems Inc. COM 141619106 735 138,389 SH SOLE 138,389 Celgene Corp COM 151020104 50,051 807,800 SH SOLE 807,800 Cemex SA SPON ADR 151290889 9,696 949,700 SH SOLE 949,700 Cephalon Inc. COM 156708109 23,723 350,000 SH SOLE 350,000 Chunghwa Telecom Ltd. SPON ADR 17133Q106 3,886 199,998 SH SOLE 199,998 Cisco Systems, Inc. COM 17275R102 145,898 5,605,000 SH SOLE 5,605,000 Citigroup Inc. COM 172967101 11,421 2,819,900 SH SOLE 2,819,900 Citigroup Inc UNIT 99/99/9999 172967416 62,159 510,000 SH SOLE 510,000 Cogdell Spencer Inc. COM 19238U107 730 98,700 SH SOLE 98,700 CONSOL Energy Inc. COM 20854P109 125,072 2,931,837 SH SOLE 2,931,837 Continental Resources Inc. COM 212015101 14,893 350,000 SH SOLE 350,000 Corning Inc. COM 219350105 20,210 1,000,000 SH SOLE 1,000,000 Cousins Properties Inc COM 222795106 737 88,700 SH SOLE 88,700 Covanta Holding Corp COM 22282E102 17,929 1,076,200 SH SOLE 1,076,200 Ctrip.com Int'l Ltd. AMER DEP SHS 22943F100 9,341 238,300 SH SOLE 238,300 Deckers Outdoor Corp COM 243537107 3,077 22,300 SH SOLE 22,300 Deere & Company COM 244199105 69,747 1,173,000 SH SOLE 1,173,000 Delta Air Lines Inc. COM 247361702 37 2,530 SH SOLE 2,530 Denbury Resources Inc. COM 247916208 89,389 5,298,700 SH SOLE 5,298,700 Disney, Walt & Co. COM 254687106 36,341 1,041,000 SH SOLE 1,041,000 Dollar General Corp COM 256677105 1,263 50,000 SH SOLE 50,000 Dreamworks Anim SKG, Inc CL A 26153C103 14,022 355,900 SH SOLE 355,900 Duke Realty Corp COM 264411505 484 39,000 SH SOLE 39,000 Dyax Corp COM 26746E103 1,876 550,000 SH SOLE 550,000 EMC Corp COM 268648102 18,040 1,000,000 SH SOLE 1,000,000 EOG Resources Inc. COM 26875P101 136,064 1,464,000 SH SOLE 1,464,000 EOG Resources Inc. CALL 26875P901 28 1,850 SH CALL SOLE 1,850 EQT Corp COM 26884L109 92,641 2,259,545 SH SOLE 2,259,545 El Paso Corp COM 28336L109 12,338 1,138,200 SH SOLE 1,138,200 Emerson Electric Inc. COM 291011104 7,551 150,000 SH SOLE 150,000 Empire District Electric Co COM 291641108 6,815 378,200 SH SOLE 378,200 Ensco International PLC SPON ADR 29358Q109 11,173 249,500 SH SOLE 249,500 Extra Space Storage Inc. COM 30225T102 723 57,000 SH SOLE 57,000 FPL Group Inc. COM 302571104 5,099 105,500 SH SOLE 105,500 Fibria Celulose SA SPON ADR 31573A109 4,947 226,100 SH SOLE 226,100 FirstEnergy Corp. COM 337932107 20,784 531,700 SH SOLE 531,700 General Dynamics Corp COM 369550108 7,720 100,000 SH SOLE 100,000 General Electric Co COM 369604103 45,500 2,500,000 SH SOLE 2,500,000 General Growth Prop'ss Inc. COM 370021107 344 21,400 SH SOLE 21,400 Genzyme Corp COM 372917104 41,781 806,115 SH SOLE 806,115 Gilead Sciences, Inc. COM 375558103 68,220 1,500,000 SH SOLE 1,500,000 Gramercy Capital Corp. COM 384871109 71 25,400 SH SOLE 25,400 Green Mtn Coffee Rstrs Inc COM 393122106 5,376 55,500 SH SOLE 55,500 Grupo Aeroportunario SA SPON ADR SER B 40051E202 2,779 53,600 SH SOLE 53,600 Halozyme Therapeutics Inc. COM 40637H109 2,397 300,000 SH SOLE 300,000 Healthcare Realty Trust Inc.COM 421946104 1,890 81,165 SH SOLE 81,165 Hersha Hospitality Trust SH BEN INT A 427825104 875 168,900 SH SOLE 168,900 Highwoods Prop'ss, Inc. COM 431284108 1,306 41,150 SH SOLE 41,150 Host Hotels & Resorts COM 44107P104 1,071 73,100 SH SOLE 73,100 ICICI Bank Ltd ADR 45104G104 10,889 255,000 SH SOLE 255,000 Intel Corp COM 458140100 107,191 4,815,400 SH SOLE 4,815,400 Intel Corp CALL 458140900 230 9,200 SH CALL SOLE 9,200 InterMune Inc. COM 45884X103 34,467 773,334 SH SOLE 773,334 InterOil Corp COM 460951106 75,291 1,161,900 SH SOLE 1,161,900 I Shares Inc. MSCI HONG KONG 464286871 10,352 635,500 SH SOLE 635,500 JP Morgan Chase & Co COM 46625H100 134,250 3,000,000 SH SOLE 3,000,000 Jack in the Box Inc. COM 466367109 2,242 95,200 SH SOLE 95,200 Juniper Networks Inc. COM 48203R104 27,612 900,000 SH SOLE 900,000 KB Home COM 48666K109 415 24,800 SH SOLE 24,800 Kilroy Realty Corp COM 49427F108 1,278 41,443 SH SOLE 41,443 Kohl's Corp COM 500255104 4,109 75,000 SH SOLE 75,000 Las Vegas Sands Corp. COM 517834107 4,004 189,300 SH SOLE 189,300 Lexmark Int'l Inc. CL A 529771107 7,216 200,000 SH CALL SOLE 200,000 Liz Claiborne, Inc. COM 539320101 557 75,000 SH SOLE 75,000 Lockheed Martin Corp COM 539830109 8,322 100,000 SH SOLE 100,000 Lorillard Inc. COM 544147101 122,115 1,623,000 SH SOLE 1,623,000 Lorillard Inc. PUT 544147951 313 3,071 SH PUT SOLE 3,071 MEMC Elect Materials, Inc. COM 552715104 6,045 394,300 SH SOLE 394,300 Massey Energy Co COM 576206106 151,220 2,891,945 SH SOLE 2,891,945 McDermott Int'l Inc. COM 580037109 3 100 SH SOLE 100 McDonald's Corp COM 580135101 138,978 2,083,000 SH SOLE 2,083,000 McKesson Corp COM 58155Q103 36,146 550,000 SH SOLE 550,000 Mead Johnson Nutrition Co COM 582839106 90,973 1,748,477 SH SOLE 1,748,477 Medicines Co COM 584688105 8,581 1,094,502 SH SOLE 1,094,502 Microsoft Corp COM 594918104 30,754 1,050,700 SH SOLE 1,050,700 Micromet Inc. COM 59509C105 5,252 650,000 SH SOLE 650,000 Mission West Prop's Inc. COM 605203108 158 23,000 SH SOLE 23,000 Monsanto Co COM 61166W101 13,727 192,200 SH SOLE 192,200 Mylan, Inc. COM 628530107 7,443 327,735 SH SOLE 327,735 Mylan Inc. PFD CONV 628530206 105,216 76,880 SH SOLE 76,880 NII Holdings Inc. NOTE 3.125% 6/12 62913FAJ1 32,088 34,000,000 PRIN SOLE 34,000,000 NVR Inc. COM 62944T105 1,453 2,000 SH SOLE 2,000 Neurocrine Biosciences Inc. COM 64125C109 4,016 1,575,000 SH SOLE 1,575,000 Newfield Exploration Co COM 651290108 35,946 690,600 PRIN SOLE 690,600 Nike, Inc. CL B 654106103 4,043 55,000 SH SOLE 55,000 Northeast Utilities COM 664397106 1,128 40,800 SH SOLE 40,800 NVIDIA Corp COM 67066G104 12,032 691,500 SH SOLE 691,500 NV Energy Inc. COM 67073Y106 2,111 171,200 SH SOLE 171,200 OGE Energy Corp. COM 670837103 6,040 155,100 SH SOLE 155,100 Ocwen Financial Corp COM 675746309 505 45,500 PRIN SOLE 45,500 OfficeMax Inc. COM 67622P101 821 50,000 SH SOLE 50,000 Onyx Pharms Inc. COM 683399109 42,392 1,400,000 SH SOLE 1,400,000 Vimpel-Communications SPON ADR 68370R109 12,962 704,100 SH SOLE 704,100 Oracle Corp COM 68389X105 35,136 1,367,700 SH SOLE 1,367,700 Optimer Pharms Inc. COM 68401H104 8,031 654,000 SH SOLE 654,000 PG&E Corp COM 69331C108 11,067 260,900 SH SOLE 260,900 Pall Corp COM 696429307 75,328 1,860,400 SH SOLE 1,860,400 Penn Real Estate Invest Tst SH BEN INT 709102107 1,864 149,500 SH SOLE 149,500 PerkinElmer Inc. COM 714046109 17,925 750,000 SH SOLE 750,000 Pfizer Inc. COM 717081103 3,473 202,500 SH SOLE 202,500 Phillip Morris Int'l Inc. COM 718172109 33,935 650,600 SH SOLE 650,600 Pinnacle West Capital Corp COM 723484101 6,988 185,200 SH SOLE 185,200 Portland Gnrl Electric Co COM 736508847 1,533 79,400 SH SOLE 79,400 Post Properties Inc. COM 737464107 495 22,500 SH SOLE 22,500 Powershares DB US Dlr Idx DOLL INDX BULL 73936D107 9,808 412,100 SH SOLE 412,100 Progress Energy Inc. COM 743263105 30,099 764,700 SH SOLE 764,700 Public Svc Ent Grp Inc COM 744573106 32,747 1,109,300 SH SOLE 1,109,300 Public Storage Inc. COM 74460D109 1,251 13,600 SH SOLE 13,600 Questar Corp COM 748356102 1,080 25,000 SH SOLE 25,000 RAIT Financial Trust COM 749227104 69 34,900 SH SOLE 34,900 RRI Energy Inc. COM 74971X107 4,144 1,123,000 SH SOLE 1,123,000 RTI Int'l Metals Inc. COM 74973W107 18,956 625,000 SH SOLE 625,000 Red Hat Inc. COM 756577102 755 25,800 SH SOLE 25,800 Regal Ent Group CL A 758766109 3,857 219,500 SH SOLE 219,500 Regency Centers Corp COM 758849103 2,100 56,048 SH SOLE 56,048 Regions Financial Corp COM 7591EP100 250 31,800 SH SOLE 31,800 Ryl Bk of Scotland Grp PLC SP ADR PREF T 780097713 665 55,900 SH SOLE 55,900 Ryl Bk of Scotland Grp PLC SP ADR PREF S 780097739 1,142 105,000 SH SOLE 105,000 Ryl Bk of Scotland Grp PLC ADR PREF SHS Q 780097754 549 50,000 SH SOLE 50,000 Ryl Bk of Scotland Grp PLC ADR PREF SER N 780097770 1,449 140,000 SH SOLE 140,000 Ryl Bk of Scotland Grp PLC SP ADR L RP PF 780097788 5,073 391,400 SH SOLE 391,400 Ryl Bk of Scotland Grp PLC SP ADR PREF M 780097796 4,703 447,900 SH SOLE 447,900 Ryl Bk of Scotland Grp PLC SPON ADR SER H 780097879 1,064 73,700 SH SOLE 73,700 SL Green Realty Corp. COM 78440X101 773 13,500 PRIN SOLE 13,500 Savient Pharms Inc. COM 80517Q100 8,381 580,000 SH SOLE 580,000 SCANA Corp COM 80589M102 10,694 284,500 SH SOLE 284,500 Schlumberger Ltd. COM 806857108 68,074 1,072,700 SH SOLE 1,072,700 Sigma-Aldrich Corp COM 826552101 13,415 250,000 SH SOLE 250,000 Smithfield Foods Inc. COM 832248108 29,216 1,408,700 SH SOLE 1,408,700 Southern Co COM 842587107 5,979 180,300 SH SOLE 180,300 Standard Pacific Corp. COM 85375C101 611 135,100 SH SOLE 135,100 Staples Inc. COM 855030102 7,022 300,000 SH CALL SOLE 300,000 Starwood Htls&Rsts Wrld Inc.COM 85590A401 2,006 43,000 SH SOLE 43,000 Strategic Htls&Rsts Inc. COM 86272T106 194 45,700 SH SOLE 45,700 Stryker Corp COM 863667101 22,888 400,000 SH SOLE 400,000 SunTrust Banks Inc. COM 867914103 249 9,300 SH SOLE 9,300 Target Corp COM 87612E106 13,213 251,200 SH SOLE 251,200 Teck Resources Ltd. CL B 878742204 114,399 2,624,200 SH SOLE 2,624,200 Tenaris S.A. SPON ADR 88031M109 9,657 224,900 SH SOLE 224,900 Thermo Fshr Scientific Inc. COM 883556102 28,292 550,000 SH SOLE 550,000 TiVo Inc. COM 888706108 3,362 196,400 SH SOLE 196,400 UGI Corp COM 902681105 2,654 100,000 SH SOLE 100,000 Unisource Energy Corp COM 909205106 3,505 111,467 SH SOLE 111,467 United Parcel Service Inc. CL B 911312106 82,805 1,285,600 SH SOLE 1,285,600 Universal Hlth Services Inc.CL B 913903100 10,176 290,000 SH SOLE 290,000 Visa Inc. COM CL A 92826C839 9,103 100,000 SH SOLE 100,000 Vitamin Shoppe Inc. COM 92849E101 449 20,000 SH SOLE 20,000 VMware Inc. CL A 928563402 65,899 1,236,385 SH SOLE 1,236,385 Walter Energy Inc. COM 93317Q105 8,304 90,000 SH SOLE 90,000 Wells Fargo & Co. PERP PFD CNV A 949746804 10,150 10,410 SH SOLE 10,410 Xerox Corp COM 984121103 16,166 1,658,000 SH SOLE 1,658,000 Accenture Ltd. SHS CL A G1151C101 994 23,700 SH SOLE 23,700 Orient-Express Hotels Ltd. CL A G67743107 1,078 76,000 SH SOLE 76,000 Signet Jewelers Ltd. SHS G81276100 6,172 190,846 SH SOLE 190,846 Warner Chilcott PLC SHS A G94368100 15,841 620,000 SH SOLE 620,000 Transocean Ltd. REG SHS H8817H100 12,957 150,000 SH SOLE 150,000 Grand Total 4,493,503