WhaleCreep

Discovery Capital Management, LLC 13F holdings, Q4 2025

Hedge fundSEC filingsCompare with another fundHoldings as of 2025-12-31, filed 2026-02-17

Discovery Capital Management, LLC disclosed 88 US equity positions worth $1.8bn in its Q4 2025 13F filing. Its largest position is AMKR at 5.6% of the reported book, followed by METC and IREN. Versus Q3 2025 it opened 36 new positions, added to 27, reduced 20 and exited 34.

$1.8bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
88
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
5.6%
Largest position
The largest single position as a share of the reported equity book.
40.4%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
40
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
79
Quarters on file since Q4 2006
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q3 2025: 36 new, 27 added, 20 reduced, 34 exited

50 of 88
AMKR AMKOR TECHNOLOGY INCTechnology5.6%$103m2.61m–new
METC RAMACO RES INCBasic Materials5.4%$99.2m5.51m+1.1%added
IREN IREN LIMITEDFinancial Services5.3%$97.6m2.58m−23%reduced
AMX AMERICA MOVIL SAB DE CVCommunication Services4.8%$88.7m4.29m−8.3%reduced
JPM JPMORGAN CHASE & COFinancial Services4.0%$73.2m227,200+33%added
TV GRUPO TELEVISA S A BCommunication Services3.4%$63.5m21.82m+20%added
COHR COHERENT CORPTechnology3.3%$60.7m328,837–new
COF CAPITAL ONE FINL CORPFinancial Services3.0%$56.3m232,210+15%added
VNET VNET GROUP INCTechnology2.9%$53.5m6.32m+291%added
GDS GDS HLDGS LTDTechnology2.7%$49.8m1.43m+35%added
GENI GENIUS SPORTS LIMITEDCommunication Services2.5%$45.9m4.17m−19%reduced
JBS JBS N.V.Consumer Defensive2.3%$42.4m2.94m+513%added
EAT BRINKER INTL INCConsumer Cyclical1.9%$35.9m250,111+32%added
CX CEMEX SAB DE CVBasic Materials1.9%$35.5m3.09m−3.3%reduced
TTWO TAKE-TWO INTERACTIVE SOFTWARCommunication Services1.9%$35.1m136,907+6.5%added
GGAL GRUPO FINANCIERO GALICIA S.AFinancial Services1.9%$34.6m640,629–new
COMP COMPASS INCReal Estate1.8%$32.6m3.09m+36%added
PPTA PERPETUA RESOURCES CORP–1.7%$31.6m1.31m+148%added
PSN PARSONS CORPORATIONTechnology1.7%$30.8m499,100+14%added
MU MICRON TECHNOLOGY INCTechnology1.6%$30.0m105,200–new
AVGO BROADCOM INCTechnology1.6%$28.8m83,200–new
PRMB PRIMO BRANDS CORPORATIONConsumer Defensive1.5%$28.4m1.74m−2.8%reduced
AMD ADVANCED MICRO DEVICES INCTechnology1.5%$28.1m131,400–new
META META PLATFORMS INCCommunication Services1.5%$27.7m42,000–new
HDB HDFC BANK LTDFinancial Services1.5%$27.6m755,6000.0%held
CLF CLEVELAND CLIFFS INCBasic Materials1.4%$26.3m1.98m+11%added
LRCX LAM RESEARCH CORPTechnology1.4%$26.0m151,900–new
QXO QXO INCIndustrials1.4%$26.0m1.35m−27%reduced
ORBS EIGHTCO HOLDINGS INC–1.4%$25.7m14.87m+3.4%added
APP APPLOVIN CORPCommunication Services1.4%$25.1m37,240+23%added
BAP CREDICORP LTDFinancial Services1.3%$23.7m82,500+32%added
LITE LUMENTUM HLDGS INCTechnology1.2%$23.0m62,400–new
AWI ARMSTRONG WORLD INDS INC NEWIndustrials1.2%$22.5m118,000–new
GEO GEO GROUP INCIndustrials1.1%$21.1m1.31m−3.4%reduced
CHDN CHURCHILL DOWNS INCConsumer Cyclical1.0%$19.2m168,900–new
ECHO ECHOSTAR CORPCommunication Services1.0%$18.8m173,000+46%added
GRAYSCALE COINDESK CRYPTO no ticker–0.9%$17.5m423,129−77%reduced
FISV FISERV INC–0.9%$17.4m259,100+161%added
BA BOEING COIndustrials0.9%$16.7m77,000–new
PINS PINTEREST INCCommunication Services0.9%$16.1m621,200+75%added
ADBE ADOBE INCTechnology0.7%$13.3m37,900–new
STUB STUBHUB HLDGS INCCommunication Services0.7%$13.0m960,507+62%added
HERTZ GLOBAL HLDGS INC no ticker–0.7%$12.5m4.68m0.0%held
UAL UNITED AIRLINES HLDGS INCIndustrials0.6%$11.7m105,000–new
ACMR ACM RESEARCH INCTechnology0.6%$11.7m296,200+345%added
SOLV SOLVENTUM CORPHealthcare0.6%$11.7m147,300+84%added
DAL DELTA AIR LINES INCIndustrials0.6%$11.6m167,000–new
ESTA ESTABLISHMENT LABS HLDGS INCHealthcare0.6%$11.3m155,2750.0%held
DDOG DATADOG INCTechnology0.6%$11.3m83,200−25%reduced
MCD MCDONALDS CORPConsumer Cyclical0.6%$11.2m36,800–new

Exited since Q3 2025

34 rows
VIST VISTA ENERGY S.A.B. DE C.V.2.2%$40.7m
ELV ELEVANCE HEALTH INC1.5%$27.3m
AMTM AMENTUM HOLDINGS INC1.5%$27.3m
CI THE CIGNA GROUP1.4%$26.3m
SEI SOLARIS ENERGY INFRAS INC1.2%$22.8m
JBL JABIL INC1.2%$21.2m
ECH ISHARES INC1.1%$20.9m
GOOGL ALPHABET INC1.0%$17.7m
LBRT LIBERTY ENERGY INC0.6%$11.2m
BKR BAKER HUGHES COMPANY0.6%$10.4m
IR INGERSOLL RAND INC0.6%$10.2m
PHM PULTE GROUP INC0.5%$9.0m
ATI ATI INC0.5%$8.5m
MSOS ADVISORSHARES TR0.4%$6.8m
TKC TURKCELL ILETISIM0.4%$6.8m
PCG PG&E CORP0.3%$5.1m
CTRN CITI TRENDS INC0.3%$4.7m
JAMES RIV GROUP LTD no ticker0.2%$4.5m
BABA ALIBABA GROUP HLDG LTD0.2%$3.5m
FDX FEDEX CORP0.2%$3.1m
XHB SPDR SERIES TRUST0.2%$3.0m
VVV VALVOLINE INC0.2%$2.9m
ONMD ONEMEDNET CORP0.1%$2.5m
FIGR FIGURE TECHNOLOGY SOLUTIO0.1%$2.0m
EPSIUM ENTERPRISE LTD no ticker0.09%$1.6m
ABX ABACUS GLOBAL MGMT INC0.09%$1.6m
LGN LEGENCE CORP0.08%$1.5m
TIP ISHARES TR0.05%$1.0m
IEF ISHARES TR0.05%$1.0m
REGENCELL BIOSCIENCE HLDGS L no ticker0.04%$713k
GLTR ABRDN PRECIOUS METALS BASKET0.02%$336k
USO UNITED STS OIL FD LP0.02%$334k
XLU SELECT SECTOR SPDR TR0.02%$333k
ONECONSTRUCTION GROUP LTD no ticker0.01%$170k

Sector mix

  • Technology25.6%
  • Communication Services19.0%
  • Financial Services18.3%
  • Basic Materials9.2%
  • Industrials7.2%
  • Unclassified6.8%
  • Consumer Cyclical5.2%
  • Consumer Defensive4.3%
  • Real Estate1.8%
  • Healthcare1.5%
  • Energy1.1%

Book over time

Every quarter on file (79)
QuarterPositionsEquity book
Q2 2026113$2.4bn
Q1 202677$1.9bn
Q4 202588$1.8bn
Q3 202586$1.8bn
Q2 202572$1.3bn
Q1 202556$836m
Q4 202477$1.5bn
Q3 202459$819m
Q2 202451$754m
Q1 202452$736m
Q4 202349$661m
Q3 202339$554m
Q2 202353$857m
Q1 202344$740m
Q4 202247$674m
Q3 202246$639m
Q2 202253$751m
Q1 202266$1.1bn
Q4 202165$1.3bn
Q3 202167$1.3bn
Q2 202157$1.3bn
Q1 202160$720m
Q4 202052$807m
Q3 202058$637m
Q2 202052$539m
Q1 202031$363m
Q4 201921$313m
Q3 201926$576m
Q2 201934$976m
Q1 201929$826m
Q4 201841$1.2bn
Q3 201848$1.6bn
Q2 201848$1.7bn
Q1 201845$2.4bn
Q4 201748$2.8bn
Q3 201757$4.0bn
Q2 201749$3.8bn
Q1 201790$5.1bn
Q4 201697$5.9bn
Q3 201676$4.6bn
Q2 201670$4.0bn
Q1 201692$6.1bn
Q4 201583$7.3bn
Q3 2015106$8.7bn
Q2 201595$7.6bn
Q1 201586$8.4bn
Q4 2014114$9.5bn
Q3 201491$8.7bn
Q2 2014115$10.5bn
Q1 2014132$13.4bn
Q4 2013133$13.4bn
Q3 2013121$11.1bn
Q2 2013102$8.9bn
Q1 201357$5.1bn
Q4 201264$4.9bn
Q3 201267$5.0bn
Q2 201248$4.0bn
Q1 201273$4.2bn
Q4 201156$3.2bn
Q3 201149$2.5bn
Q2 201150$2.7bn
Q1 201148$2.2bn
Q4 201032$1.4bn
Q3 201029$1.5bn
Q2 201028$902m
Q1 201041$1.1bn
Q4 200929$703m
Q3 200928$682m
Q2 200926$726m
Q1 200919$574m
Q4 200811$303m
Q3 200812$331m
Q2 200819$564m
Q1 200818$871m
Q4 200726$812m
Q3 200729$541m
Q2 200722$455m
Q1 200719$245m
Q4 200622$246m

Where Discovery Capital Management, LLC was early

158 rows
GGAL GRUPO FINANCIERO GALICIA S.AQ1 20071 of 960.07%7.8%40Held at last filing, Q2 2026+380%
SNDK SANDISK CORPQ1 20073 of 2332.5%19.6%19Held at last filing, Q2 2026–
BBD BANCO BRADESCO S AQ1 20075 of 715.1%5.1%6Exited by Q1 2024–
EBAY EBAY INCQ1 200716 of 1865.5%6.3%14Exited by Q1 2015+69%
TX TERNIUM SA SPONQ2 20072 of 521.3%1.3%2Exited by Q4 2007+3.7%
BIDU BAIDU INCQ2 20079 of 2317.0%17.6%24Exited by Q1 2026+678%
SFD SMITHFIELD FOODS INCQ3 20071 of 904.4%4.4%2Exited by Q1 2008−8.2%
CX CEMEX SA EURO MTN BE 144AQ3 20074 of 941.9%5.0%21Held at last filing, Q2 2026−47%
FCX FREEPORT-MCMORAN INCQ3 20075 of 2235.3%6.6%12Exited by Q3 2025−17%
JPM JPMORGAN CHASE & COQ4 20076 of 2313.6%19.9%20Held at last filing, Q2 2026+650%
AAPL APPLE INCQ4 200710 of 27511.9%43.1%29Exited by Q1 2017+309%
EWY ISHARES INC MSCI S KOREAQ1 20082 of 1130.9%3.6%2Exited by Q3 2008−8.5%
MEOH METHANEX CORPQ2 20082 of 10811.0%16.0%2Exited by Q4 2008−29%
PBR/A PETROLEO BRASILEIRO SA PETROQ2 20083 of 707.3%9.4%20Exited by Q2 2019−75%
GS GOLDMAN SACHS GROUP INCQ2 20085 of 2294.6%10.8%12Held at last filing, Q2 2026+478%
MS MORGAN STANLEYQ2 20085 of 1783.7%6.9%11Exited by Q2 2017+19%
V VISA INCQ2 200819 of 2845.8%8.3%30Exited by Q3 2022+869%
RIG TRANSOCEAN LTDQ1 20091 of 1899.4%9.4%18Exited by Q3 2022−94%
WFRD WEATHERFORD INTERNATIONAL LT REGQ2 20092 of 261.8%2.8%2Exited by Q4 2009+6.0%
MLCO MELCO CROWN ENTMT LTDQ2 20094 of 1080.5%2.1%14Exited by Q2 2016+267%
RRC RANGE RES CORPQ2 20094 of 1470.6%1.7%5Exited by Q3 2025−1.8%
FXI ISHARES TRQ2 20097 of 1357.4%7.4%8Exited by Q2 2022−17%
MNTA MOMENTA PHARMACEUTICALS INCQ4 20091 of 890.5%1.8%27Exited by Q3 2017–
AMGN AMGEN INCQ4 20096 of 1661.4%1.4%4Exited by Q2 2014+118%
G GENPACT LIMITEDQ1 20103 of 1010.8%3.3%4Exited by Q1 2011−9.4%
PNC PNC FINL SVCS GROUP INCQ1 20106 of 1531.1%1.8%10Exited by Q2 2023+113%
DIS DISNEY WALT COQ1 201010 of 2534.1%4.1%14Exited by Q4 2021+385%
UNH UNITEDHEALTH GROUP INCQ1 201010 of 2991.4%6.6%11Exited by Q3 2025+855%
ITUB ITAU UNIBANCO HLDG S AQ2 20107 of 850.3%3.7%13Exited by Q1 2024−6.6%
YPF YPF SOCIEDAD ANONIMAQ3 20101 of 1010.02%4.5%41Held at last filing, Q2 2026+17%
VRSN VERISIGN INCQ3 201011 of 1420.8%2.0%7Exited by Q3 2022+427%
TEVA TEVA PHARMACEUTICAL INDS LTDQ3 201013 of 1821.1%2.7%3Exited by Q1 2016+24%
HAL HALLIBURTON COQ4 20105 of 1822.9%3.9%11Held at last filing, Q2 2026−17%
VWO VANGUARD INTL EQUITY INDEX FQ1 20112 of 550.9%11.2%15Exited by Q4 2019−18%
IBN ICICI BANK LIMITEDQ1 20113 of 1091.9%5.9%23Exited by Q3 2022+96%
COP CONOCOPHILLIPSQ1 20114 of 1553.1%3.1%2Exited by Q3 2011−5.9%
SLB SCHLUMBERGER LTDQ1 20116 of 2113.3%3.3%5Exited by Q1 2017−10.0%
SLM SLM CORPQ1 20119 of 1220.6%3.0%12Exited by Q1 2026+395%
KEY KEYCORP NEWQ1 201113 of 1320.3%1.2%5Exited by Q2 2017+100%
AMD ADVANCED MICRO DEVICES INCQ1 201116 of 3400.5%7.0%16Held at last filing, Q2 2026+6655%
MPC MARATHON PETE CORPQ3 20112 of 1940.3%3.8%13Exited by Q1 2019+336%
RDN RADIAN GROUP INCQ3 20116 of 1200.02%1.4%16Exited by Q1 2021+825%
MRK MERCK & CO INCQ4 20113 of 1951.4%1.8%4Exited by Q2 2017+69%
CMG CHIPOTLE MEXICAN GRILL INCQ4 20116 of 1850.3%1.6%4Exited by Q1 2017+12%
BMY BRISTOL MYERS SQUIBB COQ4 20118 of 1975.0%5.0%3Exited by Q3 2012+2.0%
KRE SPDR SERIES TRUSTQ4 201115 of 1590.2%2.1%8Exited by Q4 2018+143%
NBIS NEBIUS GROUP N.V.Q1 20123 of 2490.7%7.9%30Exited by Q3 2025+54%
LVS LAS VEGAS SANDS CORPQ1 20125 of 1881.9%5.8%10Exited by Q2 2017−0.9%
MU MICRON TECHNOLOGY INCQ1 20126 of 3200.6%4.8%27Held at last filing, Q2 2026+14150%
SHW SHERWIN WILLIAMS COQ1 20126 of 1920.5%2.5%6Exited by Q3 2013+63%

Concentration and tenure

14.0%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
60.3%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
2
Median completed holding, quarters