DISCOVERY CAPITAL MANAGEMENT, LLC / CT
Long book
$1.92B
Q1 2026
Positions
77
Top-10 weight
43%
concentration
Last quarter
+30.0%
SPY +14.8%
Turnover
57%
of book per quarter
Strategy in plain words
auto-generated from filingsDISCOVERY CAPITAL MANAGEMENT, LLC / CT is a diversified fundamental manager, running a $1.92B US long book across 77 positions.
The portfolio is moderately concentrated (top 10 ≈ 43% of the book). Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: SANDISK CORP, AMERICA MOVIL SAB DE CV, MICRON TECHNOLOGY INC, ON SEMICONDUCTOR, RAMACO RESOURCES INC-A.
Over the last 9 quarters its long book ran on average 4.2pp per quarter ahead of the S&P 500, beating the index in 6 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-0.5%
Q2 2024
+7.4%
Q3 2024
+15.6%
Q4 2024
-6.8%
Q1 2025
+20.7%
Q2 2025
+26.2%
Q3 2025
-11.2%
Q4 2025
-3.1%
Q1 2026
+30.0%
Sector allocation
Technology 28%
Financials 21%
Services media 10%
Materials 10%
Industrials 8%
Consumer staples 7%
Consumer discretionary 6%
Communications 3%
Long book by quarter
What does DISCOVERY CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| SNDK SANDISK CORP | Technology | 183.7K | $116.7M | 6.1% | New |
| MU MICRON TECHNOLOGY INC | Technology | 276.1K | $93.3M | 4.8% | +162.4% |
| ON ON SEMICONDUCTOR | Technology | 1.4M | $87.3M | 4.5% | New |
| METC RAMACO RESOURCES INC-A | Materials | 5.5M | $85.2M | 4.4% | Held |
| CAR AVIS BUDGET GROUP INC | Services media | 548.7K | $80.0M | 4.2% | New |
| LRCX LAM RESEARCH CORP | Industrials | 298.0K | $63.7M | 3.3% | +96.2% |
| IREN IREN LTD | Financials | 1.8M | $62.9M | 3.3% | -29.0% |
| JBS JBS NV-A | Consumer staples | 3.4M | $60.4M | 3.1% | +14.4% |
| IFS INTERCORP FINANCIAL SERVICES | Financials | 1.1M | $53.1M | 2.8% | New |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 268.8K | $49.0M | 2.5% | +15.8% |
| ECHO ECHOSTAR CORP-A | Communications | 412.3K | $48.3M | 2.5% | +138.3% |
| BAP CREDICORP LTD | Financials | 140.7K | $47.7M | 2.5% | +70.5% |
| JPM JPMORGAN CHASE & CO | Financials | 154.7K | $45.5M | 2.4% | -31.9% |
| COMP COMPASS INC - CLASS A | Real estate | 6.1M | $44.4M | 2.3% | +96.7% |
| PPTA PERPETUA RESOURCES CORP | Materials | 1.3M | $36.7M | 1.9% | Held |
| GENI GENIUS SPORTS LTD | Services media | 7.5M | $33.0M | 1.7% | +79.0% |
| NU NU HOLDINGS LTD/CAYMAN ISL-A | Financials | 2.2M | $32.2M | 1.7% | +424.6% |
| PSN PARSONS CORP | Technology | 499.1K | $27.0M | 1.4% | Held |
| QXO QXO INC | Consumer discretionary | 1.4M | $26.7M | 1.4% | +2.2% |
| PRMB PRIMO BRANDS CORP | Consumer staples | 1.4M | $26.4M | 1.4% | -19.4% |
| AMZN AMAZON.COM INC | Consumer discretionary | 124.4K | $25.9M | 1.3% | +187.3% |
| ULTA ULTA BEAUTY INC | Consumer discretionary | 46.6K | $24.4M | 1.3% | New |
| GEO GEO GROUP INC/THE | Industrials | 1.4M | $24.0M | 1.2% | +8.7% |
| VLO VALERO ENERGY CORP | Energy | 85.0K | $21.0M | 1.1% | New |
| APP APPLOVIN CORP-CLASS A | Technology | 50.6K | $20.2M | 1.0% | +36.0% |
| AGRO ADECOAGRO SA | Consumer staples | 1.3M | $19.1M | 1.0% | +5.9% |
| LNG CHENIERE ENERGY INC | Utilities | 67.4K | $19.1M | 1.0% | New |
| FISV FISERV INC | Services media | 309.6K | $17.3M | 0.9% | +19.5% |
| ROST ROSS STORES INC | Consumer discretionary | 71.6K | $15.5M | 0.8% | New |
| TER TERADYNE INC | Technology | 52.0K | $15.4M | 0.8% | New |
| GLNG GOLAR LNG LTD | Industrials | 266.5K | $14.4M | 0.7% | +38.8% |
| CHDN CHURCHILL DOWNS INC | Services media | 160.2K | $14.4M | 0.7% | -5.2% |
| PINS PINTEREST INC- CLASS A | Technology | 772.9K | $14.2M | 0.7% | +24.4% |
| RKT ROCKET COS INC-CLASS A | Financials | 884.3K | $12.6M | 0.7% | New |
| CLF CLEVELAND-CLIFFS INC | Materials | 1.4M | $12.2M | 0.6% | -26.8% |
| MDLN MEDLINE INC-CL A | Healthcare | 250.0K | $11.1M | 0.6% | New |
| NVDA NVIDIA CORP | Technology | 57.2K | $10.0M | 0.5% | New |
| CRM SALESFORCE INC | Technology | 49.5K | $9.2M | 0.5% | New |
| INTU INTUIT INC | Technology | 21.3K | $9.2M | 0.5% | New |
| AEM AGNICO EAGLE MINES LTD | Materials | 43.3K | $8.8M | 0.5% | -14.1% |
| FSLR FIRST SOLAR INC | Technology | 41.6K | $8.2M | 0.4% | New |
| FPS FORGENT POWER SOLUTIONS-CL A | Industrials | 275.0K | $8.0M | 0.4% | New |
| WOLF WOLFSPEED INC | Technology | 424.7K | $6.9M | 0.4% | New |
| BCO BRINK'S CO/THE | Industrials | 59.0K | $6.1M | 0.3% | Held |
| STUB STUBHUB HOLDINGS INC-CLASS A | Services media | 960.5K | $6.0M | 0.3% | Held |
| JRVR JAMES RIVER GROUP HOLDINGS I | Financials | 819.4K | $5.2M | 0.3% | Held |
| INFQ INFLEQTION INC | Technology | 395.7K | $3.9M | 0.2% | New |
| ALH ALLIANCE LAUNDRY HOLDINGS IN | Industrials | 150.0K | $3.1M | 0.2% | Held |
| LENZ LENZ THERAPEUTICS INC | Healthcare | 241.3K | $2.2M | 0.1% | Held |
| METCB RAMACO RESOURCES INC-B | Materials | 127.4K | $1.3M | 0.1% | +1.4% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 77 | $1.92B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 88 | $1.85B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 86 | $1.82B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 74 | $1.28B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 56 | $835.9M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 12, 2025 | 78 | $1.47B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 59 | $819.5M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 52 | $778.7M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 53 | $759.7M | canonical | SEC ↗ |
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