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Hedge fund

Discovery Capital Management, LLC / Ct

13F for the quarter to June 30, 2026, filed August 14, 2026 · SEC CIK 1389507

Reported value
$2.4bn
85% in companies we cover
Positions we cover
87
Largest SNDK 19.6%
Copy, a year
+15.1%
S&P 500 +14.1%
Copy Sharpe ratio
0.62
S&P 500 0.78

How copying its 13F would have done

$10.0k$20.0k$40.0k$80.0k 2013201520172019202120232025 $64.0k$57.0k
CopyS&P 500 $10,000 copying Discovery Capital Management, LLC / Ct's filed holdings in companies we cover from August 16, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −55.7% (S&P 500 −31.8%); beta 1.16; alpha +0.5% a year (t = 0.12); last 12 months −21.1% against +12.1%.

Reported value by quarter

Discovery Capital Management, LLC / Ct: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $200B $400B $600B $800B Reported value, 2013-06-30: $8.8B Reported value, 2013-09-30: $10.9B Reported value, 2013-12-31: $13.2B Reported value, 2014-03-31: $13.3B Reported value, 2014-06-30: $10.4B Reported value, 2014-09-30: $8.7B Reported value, 2014-12-31: $9.3B Reported value, 2015-03-31: $8.3B Reported value, 2015-06-30: $7.3B Reported value, 2015-09-30: $8.7B Reported value, 2015-12-31: $7B Reported value, 2016-03-31: $5.8B Reported value, 2016-06-30: $3.7B Reported value, 2016-09-30: $4.3B Reported value, 2016-12-31: $5.6B Reported value, 2017-03-31: $5.1B Reported value, 2017-06-30: $3.8B Reported value, 2017-09-30: $4B Reported value, 2017-12-31: $2.8B Reported value, 2018-03-31: $2.4B Reported value, 2018-06-30: $1.7B Reported value, 2018-09-30: $1.6B Reported value, 2018-12-31: $1.2B Reported value, 2019-03-31: $826.3M Reported value, 2019-06-30: $976.5M Reported value, 2019-09-30: $576.4M Reported value, 2019-12-31: $312.7M Reported value, 2020-03-31: $363M Reported value, 2020-06-30: $539.3M Reported value, 2020-09-30: $636.7M Reported value, 2020-12-31: $807.3M Reported value, 2021-03-31: $720.1M Reported value, 2021-06-30: $1.3B Reported value, 2021-09-30: $1.3B Reported value, 2021-12-31: $1.3B Reported value, 2022-03-31: $1.1B Reported value, 2022-06-30: $751M Reported value, 2022-09-30: $638.9M Reported value, 2022-12-31: $674B Reported value, 2023-03-31: $740.1M Reported value, 2023-06-30: $857.1M Reported value, 2023-09-30: $553.8M Reported value, 2023-12-31: $661.2M Reported value, 2024-03-31: $735.5M Reported value, 2024-06-30: $753.8M Reported value, 2024-09-30: $819.5M Reported value, 2024-12-31: $1.5B Reported value, 2025-03-31: $835.9M Reported value, 2025-06-30: $1.3B Reported value, 2025-09-30: $1.8B Reported value, 2025-12-31: $1.8B Reported value, 2026-03-31: $1.9B Reported value, 2026-06-30: $2.4B 2013-06-30 2016-03-31 2018-12-31 2021-09-30 2026-06-30 $2.4B
View chart data
Period Reported value
2013-06-30 $8.8B
2013-09-30 $10.9B
2013-12-31 $13.2B
2014-03-31 $13.3B
2014-06-30 $10.4B
2014-09-30 $8.7B
2014-12-31 $9.3B
2015-03-31 $8.3B
2015-06-30 $7.3B
2015-09-30 $8.7B
2015-12-31 $7B
2016-03-31 $5.8B
2016-06-30 $3.7B
2016-09-30 $4.3B
2016-12-31 $5.6B
2017-03-31 $5.1B
2017-06-30 $3.8B
2017-09-30 $4B
2017-12-31 $2.8B
2018-03-31 $2.4B
2018-06-30 $1.7B
2018-09-30 $1.6B
2018-12-31 $1.2B
2019-03-31 $826.3M
2019-06-30 $976.5M
2019-09-30 $576.4M
2019-12-31 $312.7M
2020-03-31 $363M
2020-06-30 $539.3M
2020-09-30 $636.7M
2020-12-31 $807.3M
2021-03-31 $720.1M
2021-06-30 $1.3B
2021-09-30 $1.3B
2021-12-31 $1.3B
2022-03-31 $1.1B
2022-06-30 $751M
2022-09-30 $638.9M
2022-12-31 $674B
2023-03-31 $740.1M
2023-06-30 $857.1M
2023-09-30 $553.8M
2023-12-31 $661.2M
2024-03-31 $735.5M
2024-06-30 $753.8M
2024-09-30 $819.5M
2024-12-31 $1.5B
2025-03-31 $835.9M
2025-06-30 $1.3B
2025-09-30 $1.8B
2025-12-31 $1.8B
2026-03-31 $1.9B
2026-06-30 $2.4B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
SNDKSandisk19.60%$472.0m207.6K+13.0% Added
AMXAmerica Movil SAB DE Cv/4.30%$103.6m3.99M−10.3% Reduced
AMCAMC Entertainment Holdings, Inc.4.09%$98.4m51.80MNew
COMPCompass, Inc.3.85%$92.8m7.53M+23.9% Added
TET1 Energy Inc.2.94%$70.8m7.47MNew
METCRamaco Resources, Inc.2.92%$70.3m5.31M−3.6% Reduced
JBSJBS N.V.2.67%$64.4m5.44M+61.5% Added
CVXChevron Corporation2.45%$58.9m355.3KNew
CARAvis Budget Group, Inc.2.17%$52.3m353.8K−35.5% Reduced
JPMJPMorgan Chase2.06%$49.5m151.3K−2.2% Reduced
NUNu Holdings Ltd.1.99%$47.9m3.59M+60.0% Added
GENIGenius Sports Ltd1.82%$43.8m7.23M−3.0% Reduced
APPApplovin Corp1.78%$42.8m83.0K+64.0% Added
AMZNAmazon1.75%$42.1m176.4K+41.8% Added
GEOGEO Group Inc1.54%$37.2m1.26M−11.7% Reduced
COFCapital One1.44%$34.7m173.2K−35.6% Reduced
PRMBPrimo Brands Corp1.40%$33.7m1.38M−1.5% Reduced
VLOValero Energy1.29%$31.1m119.4K+40.5% Added
RACEFerrari N.V.1.26%$30.4m81.6KNew
TTWOTake TWO Interactive Software Inc1.19%$28.7m115.0KNew
PSNParsons Corp1.15%$27.7m528.6K+5.9% Added
GSGoldman Sachs1.13%$27.3m27.0KNew
FISVFiserv1.12%$27.0m551.2K+78.0% Added
WOLFWolfspeed, Inc.1.10%$26.5m548.4K+29.1% Added
LPLALPL Financial Holdings Inc.1.09%$26.3m93.5KNew
PPTAPerpetua Resources Corp.1.02%$24.6m1.19M−9.2% Reduced
ULTAUlta Beauty0.97%$23.5m52.0K+11.6% Added
QXOQXO, Inc.0.89%$21.5m1.24M−9.7% Reduced
FIVEFive Below, Inc0.77%$18.5m102.7KNew
WRBYWarby Parker Inc.0.74%$17.8m587.7KNew
ONON Semiconductor Corp0.64%$15.3m162.3K−88.5% Reduced
MWHSolv Energy, Inc.0.58%$14.0m411.7KNew
PINSPinterest, Inc.0.58%$14.0m666.0K−13.8% Reduced
RKTRocket Companies, Inc.0.58%$13.9m884.3K0.0%
NXTNextpower Inc.0.58%$13.9m116.8KNew
AGROAdecoagro S.a.0.55%$13.2m1.38M+8.2% Added
CHDNChurchill Downs Inc0.51%$12.4m138.2K−13.7% Reduced
ZMZoom Communications, Inc.0.50%$12.0m139.6KNew
AEMAgnico Eagle Mines LTD0.50%$12.0m77.3K+78.5% Added
GRPNGroupon, Inc.0.49%$11.8m491.1KNew
CRMSalesforce0.47%$11.3m71.9K+45.3% Added
HALHalliburton0.43%$10.3m304.7KNew
PURRHyperliquid Strategies Inc0.43%$10.3m1.31MNew
MTSIMacom Technology Solutions Holdings, Inc.0.42%$10.2m26.9KNew
FSLRFirst Solar, Inc.0.41%$9.8m41.6K0.0%
STUBStubhub Holdings, Inc.0.37%$9.0m697.8K−27.4% Reduced
IRENIREN Ltd0.34%$8.3m181.2K−90.1% Reduced
BCOBrinks Co0.23%$5.6m59.0K0.0%
KRMNKarman Holdings Inc.0.21%$5.0m100.0KNew
CBChubb Limited0.21%$5.0m14.6KNew
ECHOEchoStar0.21%$5.0m48.8K−88.2% Reduced
JRVRJames River Group Holdings, Inc.0.19%$4.7m1.06M+29.3% Added
AMDAdvanced Micro Devices0.19%$4.5m7.8KNew
DLRDigital Realty0.17%$4.2m23.5KNew
GOOGLAlphabet Inc. (Class A)0.15%$3.6m10.2KNew
INTUIntuit0.15%$3.6m13.8K−35.2% Reduced
DDOGDatadog, Inc.0.15%$3.6m13.7KNew
MRVLMarvell Technology0.15%$3.5m11.8KNew
PANWPalo Alto Networks0.14%$3.5m10.2KNew
SKYChampion Homes, Inc.0.13%$3.2m35.8KNew
FIGFigma, Inc.0.12%$2.9m157.9KNew
HUTHut 8 Corp.0.12%$2.8m23.9KNew
LLYLilly (Eli)0.11%$2.7m2.3KNew
NETCloudflare, Inc.0.11%$2.7m10.9KNew
RBRKRubrik, Inc.0.11%$2.7m33.2KNew
OUSTOuster, Inc.0.11%$2.5m40.7KNew
VRTVertiv0.11%$2.5m7.6KNew
SNOWSnowflake Inc.0.10%$2.5m9.7KNew
RDDTReddit, Inc.0.10%$2.4m14.0KNew
RBLXRoblox Corp0.10%$2.4m43.8KNew
BNYBNY Mellon0.10%$2.4m16.4KNew
TTANServicetitan, Inc.0.10%$2.3m32.9KNew
CMPSCompass Pathways plc0.09%$2.1m150.0K−16.5% Reduced
ANETArista Networks0.09%$2.1m12.3KNew
LRCXLam Research0.08%$2.0m4.6K−98.5% Reduced
CIENCiena0.08%$2.0m4.0KNew
PLDPrologis0.07%$1.8m13.2KNew
CIFRCipher Digital Inc.0.07%$1.7m70.8KNew
MUMicron Technology0.07%$1.7m1.5K−99.5% Reduced
WULFTerawulf Inc.0.07%$1.6m64.5KNew
QCOMQualcomm0.07%$1.6m8.6KNew
COHRCoherent Corp.0.06%$1.5m3.9KNew
LENZLenz Therapeutics, Inc.0.06%$1.4m241.3K0.0%
RMBSRambus Inc0.06%$1.3m10.0KNew
PUMPPropetro Holding Corp.0.04%$1.1m75.0KNew
HUYAHuya Inc.0.04%$1.1m467.3K0.0%
ONMDOnemednet Corp0.00%$79,811112.3K0.0%
CompanyBought (value)Shares
AMCAMC Entertainment Holdings, Inc.$98.4m51.80M
TET1 Energy Inc.$70.8m7.47M
CVXChevron Corporation$58.9m355.3K
SNDKSandisk$54.3m23.9K
RACEFerrari N.V.$30.4m81.6K
TTWOTake TWO Interactive Software Inc$28.7m115.0K
GSGoldman Sachs$27.3m27.0K
LPLALPL Financial Holdings Inc.$26.3m93.5K
JBSJBS N.V.$24.5m2.07M
FIVEFive Below, Inc$18.5m102.7K
NUNu Holdings Ltd.$18.0m1.35M
COMPCompass, Inc.$17.9m1.45M
WRBYWarby Parker Inc.$17.8m587.7K
APPApplovin Corp$16.7m32.4K
MWHSolv Energy, Inc.$14.0m411.7K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
MUMicron Technology−$316.9m−274.6K
LRCXLam Research−$127.2m−293.4K
ONON Semiconductor Corp−$117.9m−1.25M
IRENIREN Ltd−$75.6m−1.65M
VNETVnet Group, Inc.−$50.4m−6.01M
ECHOEchoStar−$36.9m−363.5K
CARAvis Budget Group, Inc.−$28.8m−194.8K
COFCapital One−$19.2m−95.6K
LNGCheniere Energy, Inc.−$19.1m−67.4K
ROSTRoss Stores−$15.5m−71.6K
TERTeradyne−$15.4m−52.0K
GLNGGolar LNG LTD−$14.4m−266.5K
CLFCleveland-cliffs Inc.−$12.2m−1.45M
AMXAmerica Movil SAB DE Cv/−$11.9m−456.1K
MDLNMedline Inc.−$11.1m−250.0K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
VNETVnet Group, Inc.$50.4m6.01M
LNGCheniere Energy, Inc.$19.1m67.4K
ROSTRoss Stores$15.5m71.6K
TERTeradyne$15.4m52.0K
GLNGGolar LNG LTD$14.4m266.5K
CLFCleveland-cliffs Inc.$12.2m1.45M
MDLNMedline Inc.$11.1m250.0K
NVDANVIDIA Corporation$10.0m57.2K
FPSForgent Power Solutions, Inc.$8.0m275.0K
AREAlexandria Real Estate Equities$4.6m100.0K
HDBHdfc Bank LTD$4.6m183.0K
INFQInfleqtion, Inc.$3.9m395.7K
ALHAlliance Laundry Holdings Inc.$3.1m150.0K
  • Technology36.2%
  • Communication Services15.7%
  • Financials12.1%
  • Energy8.3%
  • Industrials8.1%
  • Consumer Discretionary7.2%
  • Consumer Staples5.4%
  • Real Estate4.8%
  • Materials1.8%
  • Health Care0.3%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestAugust 16, 2013 to November 2, 2026+15.1%+14.1%0.620.78−55.7%1.16
2018 onwardsJanuary 5, 2018 to November 2, 2026+14.2%+13.9%0.520.66−55.7%1.14
Last three yearsNovember 3, 2023 to November 2, 2026+29.6%+21.8%0.941.16−25.2%1.43
Last yearNovember 7, 2025 to November 2, 2026−18.1%+14.2%−0.710.84−23.4%1.51

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.