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Funds (13F)

Discovery Capital Management, LLC / Ct

Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+15.1%
S&P 500 +14.1%
Last 12 months
−21.1%
S&P 500 +12.1%
Sharpe ratio
0.62
S&P 500 0.78
Biggest drop
−55.7%
S&P 500 −31.8%
$10.0k$20.0k$40.0k$80.0k 2013201520172019202120232025 $64.0k$57.0k
StrategyS&P 500 $10,000 in Discovery Capital Management, LLC / Ct from 16 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Discovery Capital Management, LLC / Ct's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Discovery Capital Management, LLC / Ct's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+15.1%+14.1%
Total return+540%+470%
Last 12 months−21.1%+12.1%
Last 3 months−9.4%—
Last month−10.9%—
This year so far−10.9%—
Volatility a year24.0%16.0%
Sharpe ratio0.620.78
Biggest drop−55.7%−31.8%
Beta to the S&P 5001.161.00
Alpha a year (t-statistic)+0.5% (0.12)—
Share of weeks up57%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
SNDK22.9%——
AMX5.0%——
AMC4.8%——
COMP4.5%——
TE3.4%——
METC3.4%——
JBS3.1%——
CVX2.9%——
CAR2.5%——
JPM2.4%——
NU2.3%——
GENI2.1%——
APP2.1%——
AMZN2.0%——
GEO1.8%——
COF1.7%——
PRMB1.6%——
VLO1.5%——
RACE1.5%——
TTWO1.4%——
PSN1.4%——
GS1.3%——
FISV1.3%——
WOLF1.3%——
LPLA1.3%——
PPTA1.2%——
ULTA1.1%——
QXO1.0%——
FIVE0.9%——
WRBY0.9%——
ON0.8%——
MWH0.7%——
PINS0.7%——
RKT0.7%——
NXT0.7%——
AGRO0.6%——
CHDN0.6%——
ZM0.6%——
AEM0.6%——
GRPN0.6%——
CRM0.6%——
HAL0.5%——
PURR0.5%——
MTSI0.5%——
FSLR0.5%——
STUB0.4%——
IREN0.4%——
BCO0.3%——
KRMN0.2%——
CB0.2%——
ECHO0.2%——
JRVR0.2%——
AMD0.2%——
DLR0.2%——
GOOGL0.2%——
INTU0.2%——
DDOG0.2%——
MRVL0.2%——
PANW0.2%——
SKY0.1%——
FIG0.1%——
HUT0.1%——
LLY0.1%——
NET0.1%——
RBRK0.1%——
OUST0.1%——
VRT0.1%——
SNOW0.1%——
RDDT0.1%——
RBLX0.1%——
BNY0.1%——
TTAN0.1%——
CMPS0.1%——
ANET0.1%——
LRCX0.1%——
CIEN0.1%——
PLD0.1%——
CIFR0.1%——
MU0.1%——
WULF0.1%——
QCOM0.1%——
COHR0.1%——
LENZ0.1%——
RMBS0.1%——
PUMP0.1%——
HUYA0.1%——
ONMD0.0%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest16 Aug 2013 to 2 Nov 2026+15.1%+14.1%0.620.78−55.7%1.16+0.5% (0.12)
2018 onwards5 Jan 2018 to 2 Nov 2026+14.2%+13.9%0.520.66−55.7%1.14+0.6% (0.09)
Last three years3 Nov 2023 to 2 Nov 2026+29.6%+21.8%0.941.16−25.2%1.43+1.9% (0.18)
Last year7 Nov 2025 to 2 Nov 2026−18.1%+14.2%−0.710.84−23.4%1.51−34.6% (−1.60)
DateCompanyAction
21 Aug 2026ZMBought
21 Aug 2026WULFBought
21 Aug 2026WRBYBought
21 Aug 2026VRTBought
21 Aug 2026TTWOBought
21 Aug 2026TTANBought
21 Aug 2026TEBought
21 Aug 2026SNOWBought
21 Aug 2026SKYBought
21 Aug 2026RMBSBought
21 Aug 2026RDDTBought
21 Aug 2026RBRKBought
21 Aug 2026RBLXBought
21 Aug 2026RACEBought
21 Aug 2026QCOMBought
21 Aug 2026PURRBought
21 Aug 2026PUMPBought
21 Aug 2026PLDBought
21 Aug 2026PANWBought
21 Aug 2026OUSTBought
21 Aug 2026NXTBought
21 Aug 2026NETBought
21 Aug 2026MWHBought
21 Aug 2026MTSIBought
21 Aug 2026MRVLBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026VNETSold
21 Aug 2026TERSold
21 Aug 2026ROSTSold
21 Aug 2026NVDASold
21 Aug 2026MDLNSold
21 Aug 2026LNGSold
21 Aug 2026INFQSold
21 Aug 2026HDBSold
21 Aug 2026GLNGSold
21 Aug 2026FPSSold
21 Aug 2026CLFSold
21 Aug 2026ARESold
21 Aug 2026ALHSold
22 May 2026VIKSold
22 May 2026UALSold
22 May 2026TTWOSold
22 May 2026SOLVSold
22 May 2026SNAPSold
22 May 2026SNSold
22 May 2026SLMSold
22 May 2026ORBSSold
22 May 2026NVTSold
22 May 2026METASold
22 May 2026MCDSold
22 May 2026LOARSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest