Discovery Capital Management, LLC / CT
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Discovery Capital Management, LLC / CT reported 55 stock positions worth $822.6 million. Its top holding was Genius Sports (GENI) at 7.2% of the portfolio, followed by Discover Financial Services (DFS, 6.8%) and Grupo Financiero Galicia-ADR (GGAL, 6.7%). Compared with Q4 2024, it opened 17 new positions, sold out of 38, added to 21 and reduced 11. The biggest buy was Discover Financial Services (DFS, shares +134%) and the biggest sale an exit from JPMorgan Chase (JPM).
- Most Recent 13F
- Q2 2026
- Location
- SOUTH NORWALK, CT
- CIK
- 0001389507
- Portfolio Value
- $822.6M (Q1 2025)
- SEC Filing
- 0000919574-25-003201 ↗ filed May 15, 2025
Holdings Value
Holdings 55 stocks · $822.6M
| GENI Genius Sports Ltd. | 7.19% | 5,909,432 | $59.2M | Add +12.7% |
| DFS Discover Financial Services | 6.85% | 330,065 | $56.3M | Add +134.3% |
| GGAL Grupo Financiero Galicia-ADR | 6.67% | 1,007,805 | $54.9M | Reduce -20.3% |
| VIST Vista Energy Sab DE CV | 6.39% | 1,128,817 | $52.6M | Reduce -14.5% |
| AMTM Amentum Holdings Inc. | 5.82% | 2,630,930 | $47.9M | Add +465.4% |
| NBIS Nebius Group NV | 5.49% | 2,141,076 | $45.2M | Add +9.9% |
| GEO The Geo Group Inc. | 5.08% | 1,429,900 | $41.8M | Reduce -22.3% |
| UNH Unitedhealth Group Inc. | 4.74% | 74,420 | $39.0M | New |
| AMX America Movil Sab DE CV | 4.57% | 2,645,484 | $37.6M | Add +58.0% |
| TV Grupo Televisa SA-Spon ADR | 3.78% | 17,774,931 | $31.1M | Add +1.4% |
| EAT Brinker International Inc. | 3.52% | 194,122 | $28.9M | New |
| GDXJ Vaneck Junior Gold Miners | 2.98% | 428,600 | $24.5M | New |
| TTWO Take-Two Interactive Softwre | 2.94% | 116,757 | $24.2M | Reduce -35.1% |
| COMP Compass Inc. Class A | 2.41% | 2,273,161 | $19.8M | No change |
| CX Cemex Sab-Spons ADR Part Cer | 2.38% | 3,487,700 | $19.6M | Add +104.7% |
| PSN Parsons Corp. | 2.35% | 327,000 | $19.4M | Add +111.9% |
| HDB HDFC Bank Ltd.-ADR | 2.08% | 257,200 | $17.1M | Add +327.2% |
| IREN Iren Ltd. filed as IREN LIMITED | 1.98% | 2,674,200 | $16.3M | Add +127.5% |
| GLNG Golar LNG Ltd. | 1.98% | 428,100 | $16.3M | Add +2.3% |
| BA The Boeing Co. | 1.90% | 91,600 | $15.6M | Reduce -64.7% |
| FCX Freeport-McMoran Inc. | 1.53% | 333,400 | $12.6M | New |
| BAP Credicorp Ltd. | 1.49% | 65,700 | $12.2M | Reduce -18.2% |
| METC Ramaco Resources Inc. Class A | 1.19% | 1,190,204 | $9.8M | Add +31.5% |
| SCHW Schwab (charles) Corp. | 1.19% | 125,000 | $9.8M | New |
| BABA Alibaba Group Holding-SP ADR | 1.06% | 66,000 | $8.7M | New |
| PINS Pinterest Inc. Class A | 1.06% | 280,200 | $8.7M | Add +3.9% |
| APP AppLovin Corp. Class A | 0.94% | 29,040 | $7.7M | Reduce -28.7% |
| SNAP Snap Inc. Class A | 0.93% | 880,900 | $7.7M | Reduce -34.9% |
| FSLR First Solar Inc. | 0.90% | 58,800 | $7.4M | Add +79.8% |
| TKC Turkcell Iletisim Hizmet-ADR | 0.75% | 995,081 | $6.2M | New |
| SLM SLM Corp. | 0.75% | 209,400 | $6.2M | No change |
| AEM Agnico Eagle Mines Ltd. | 0.69% | 52,000 | $5.6M | New |
| META Meta Platforms Inc. Class A | 0.67% | 9,503 | $5.5M | Reduce -76.1% |
| TUR iShares MSCI Turkey ETF | 0.66% | 166,200 | $5.5M | New |
| LOAR Loar Holdings Inc. | 0.64% | 75,000 | $5.3M | Add +25.0% |
| ROOT Root Inc./Oh Class A | 0.55% | 33,700 | $4.5M | New |
| AGRO Adecoagro SA | 0.48% | 353,509 | $3.9M | Reduce -71.1% |
| ALAB Astera Labs Inc. | 0.48% | 65,500 | $3.9M | No change |
| FRO Frontline PLC | 0.45% | 250,000 | $3.7M | No change |
| KRMN Karman Holdings Inc. | 0.41% | 100,000 | $3.3M | New |
| JRVR James River Group Holdings I | 0.39% | 768,555 | $3.2M | No change |
| ESTA Establishment Labs Holdings | 0.32% | 64,441 | $2.6M | New |
| ABX Abacus Global Management Inc. | 0.23% | 251,400 | $1.9M | Add +0.6% |
| KWEB Kranesh Csi China Internet | 0.20% | 47,850 | $1.7M | New |
| IEF iShares 7-10 Year Treasury B | 0.16% | 13,583 | $1.3M | Add +0.5% |
| ONMD Onemednet Corp. | 0.15% | 2,301,791 | $1.2M | No change |
| CHWY Chewy Inc. Class A | 0.14% | 35,000 | $1.1M | New |
| ECH iShares MSCI Chile ETF | 0.11% | 29,781 | $888K | New |
| TIP iShares Tips Bond ETF | 0.09% | 6,986 | $776K | Add +19.2% |
| EEM iShares MSCI Emerging Market | 0.07% | 13,357 | $584K | Add +79.0% |
| SHY iShares 1-3 Year Treasury Bo | 0.07% | 7,035 | $582K | Add +130.7% |
| TEO Telecom Argentina SA-SP ADR | 0.06% | 50,000 | $510K | New |
| MLPX Global X MLP & Energy Infras | 0.04% | 5,075 | $324K | Reduce -18.5% |
| GLTR Abrdn Precious Metals Basket | 0.03% | 2,001 | $259K | New |
| METCB Ramaco Resources Inc. Class B | 0.02% | 26,924 | $191K | Add +152.0% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $13.3M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 5,877,432 | $13.3M | Reduce -36.6% |
Total filed on the 13F, all lines: $835.9M.
Portfolio Sells Q4 2024 → Q1 2025
| JPM JPMorgan Chase & Co. | Sold out | 0.00% | −5.49 |
| XOP SS SPDR S&P Og Exp & Prod | Sold out | 0.00% | −5.24 |
| AMZN Amazon.com Inc. | Sold out | 0.00% | −5.05 |
| XOM Exxon Mobil Corp. | Sold out | 0.00% | −4.59 |
| VST Vistra Corp. | Sold out | 0.00% | −3.70 |
| CEG Constellation Energy | Sold out | 0.00% | −2.57 |
| YPF YPF S.A.-Sponsored ADR | Sold out | 0.00% | −2.50 |
| FBTC Fidelity Wise Origin Bitcoin | Sold out | 0.00% | −2.27 |
| GPN Global Payments Inc. | Sold out | 0.00% | −2.12 |
| IBIT iShares Bitcoin Trust ETF | Sold out | 0.00% | −1.91 |
| ADBE Adobe Inc. | Sold out | 0.00% | −1.89 |
| GEV GE Vernova Inc. | Sold out | 0.00% | −1.59 |
| COF Capital One Financial Corp. | Sold out | 0.00% | −1.43 |
| X United States Steel Corp. | Sold out | 0.00% | −1.31 |
| BA The Boeing Co. | Reduce -64.7% | 1.90% | −1.27 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −1.13 |
| NFLX Netflix Inc. | Sold out | 0.00% | −1.08 |
| META Meta Platforms Inc. Class A | Reduce -76.1% | 0.67% | −0.94 |
| PAM Pampa Energia SA-Spon ADR | Sold out | 0.00% | −0.92 |
| ECG Everus Construction Group | Sold out | 0.00% | −0.91 |
| CRWD CrowdStrike Holdings Inc. Class A | Sold out | 0.00% | −0.83 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −0.77 |
| GBTC Grayscale Bitcoin Trust ETF | Sold out | 0.00% | −0.55 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −0.55 |
| AJG Arthur J Gallagher & Co. | Sold out | 0.00% | −0.49 |
| GS Goldman Sachs Group Inc. | Sold out | 0.00% | −0.47 |
| TLN Talen Energy Corp. | Sold out | 0.00% | −0.47 |
| URA Global X Uranium ETF | Sold out | 0.00% | −0.45 |
| MIR Mirion Technologies Inc. | Sold out | 0.00% | −0.43 |
| RIOT Riot Platforms Inc. | Sold out | 0.00% | −0.40 |
| EPI Wisdomtree India Earnings | Sold out | 0.00% | −0.39 |
| CXW Corecivic Inc. | Sold out | 0.00% | −0.35 |
| VKTX Viking Therapeutics Inc. | Sold out | 0.00% | −0.35 |
| EPR Epr Properties | Sold out | 0.00% | −0.34 |
| GRND Grindr Inc. | Sold out | 0.00% | −0.32 |
| AGRO Adecoagro SA | Reduce -71.1% | 0.48% | −0.32 |
| GEHC GE Healthcare Technology | Sold out | 0.00% | −0.27 |
| RSP Invesco S&P 500 Equal Weight | Sold out | 0.00% | −0.15 |
| COLOMBIER ACQUISITION CORP | Sold out | 0.00% | −0.15 |
| SNAP Snap Inc. Class A | Reduce -34.9% | 0.93% | −0.07 |
| BBAR Bbva Argentina SA-ADR | Sold out | 0.00% | −0.07 |
| INDA iShares MSCI India ETF | Sold out | 0.00% | −0.07 |
| MLPX Global X MLP & Energy Infras | Reduce -18.5% | 0.04% | +0.01 |
| APP AppLovin Corp. Class A | Reduce -28.7% | 0.94% | +0.02 |
| BAP Credicorp Ltd. | Reduce -18.2% | 1.49% | +0.47 |
| TTWO Take-Two Interactive Softwre | Reduce -35.1% | 2.94% | +0.65 |
| GGAL Grupo Financiero Galicia-ADR | Reduce -20.3% | 6.67% | +1.23 |
| VIST Vista Energy Sab DE CV | Reduce -14.5% | 6.39% | +1.46 |
| GEO The Geo Group Inc. | Reduce -22.3% | 5.08% | +1.52 |
Portfolio Buys Q4 2024 → Q1 2025
| DFS Discover Financial Services | Add +134.3% | 6.85% | +5.16 |
| AMTM Amentum Holdings Inc. | Add +465.4% | 5.82% | +5.14 |
| UNH Unitedhealth Group Inc. | New | 4.74% | +4.74 |
| GENI Genius Sports Ltd. | Add +12.7% | 7.19% | +4.06 |
| EAT Brinker International Inc. | New | 3.52% | +3.52 |
| GDXJ Vaneck Junior Gold Miners | New | 2.98% | +2.98 |
| AMX America Movil Sab DE CV | Add +58.0% | 4.57% | +2.92 |
| HDB HDFC Bank Ltd.-ADR | Add +327.2% | 2.08% | +1.81 |
| NBIS Nebius Group NV | Add +9.9% | 5.49% | +1.77 |
| TV Grupo Televisa SA-Spon ADR | Add +1.4% | 3.78% | +1.75 |
| CX Cemex Sab-Spons ADR Part Cer | Add +104.7% | 2.38% | +1.71 |
| FCX Freeport-McMoran Inc. | New | 1.53% | +1.53 |
| PSN Parsons Corp. | Add +111.9% | 2.35% | +1.37 |
| SCHW Schwab (charles) Corp. | New | 1.19% | +1.19 |
| IREN Iren Ltd. | Add +127.5% | 1.98% | +1.18 |
| BABA Alibaba Group Holding-SP ADR | New | 1.06% | +1.06 |
| GLNG Golar LNG Ltd. | Add +2.3% | 1.98% | +0.75 |
| TKC Turkcell Iletisim Hizmet-ADR | New | 0.75% | +0.75 |
| AEM Agnico Eagle Mines Ltd. | New | 0.69% | +0.69 |
| TUR iShares MSCI Turkey ETF | New | 0.66% | +0.66 |
| METC Ramaco Resources Inc. Class A | Add +31.5% | 1.19% | +0.55 |
| ROOT Root Inc./Oh Class A | New | 0.55% | +0.55 |
| PINS Pinterest Inc. Class A | Add +3.9% | 1.06% | +0.52 |
| FSLR First Solar Inc. | Add +79.8% | 0.90% | +0.51 |
| KRMN Karman Holdings Inc. | New | 0.41% | +0.41 |
| LOAR Loar Holdings Inc. | Add +25.0% | 0.64% | +0.34 |
| ESTA Establishment Labs Holdings | New | 0.32% | +0.32 |
| KWEB Kranesh Csi China Internet | New | 0.20% | +0.20 |
| CHWY Chewy Inc. Class A | New | 0.14% | +0.14 |
| ECH iShares MSCI Chile ETF | New | 0.11% | +0.11 |
| ABX Abacus Global Management Inc. | Add +0.6% | 0.23% | +0.09 |
| IEF iShares 7-10 Year Treasury B | Add +0.5% | 0.16% | +0.07 |
| TEO Telecom Argentina SA-SP ADR | New | 0.06% | +0.06 |
| SHY iShares 1-3 Year Treasury Bo | Add +130.7% | 0.07% | +0.05 |
| TIP iShares Tips Bond ETF | Add +19.2% | 0.09% | +0.05 |
| EEM iShares MSCI Emerging Market | Add +79.0% | 0.07% | +0.05 |
| GLTR Abrdn Precious Metals Basket | New | 0.03% | +0.03 |
| METCB Ramaco Resources Inc. Class B | Add +152.0% | 0.02% | +0.02 |
Options Activity Q4 2024 → Q1 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 10,500 | $6.2Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | Reduce -36.6% | 5,877,432 | $13.3M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 112 | $2.4B | SNDK, BAP, AMX, AMC, COMP |
| Q1 2026 | 76 | $1.9B | SNDK, AMX, MU, ON, METC |
| Q4 2025 | 87 | $1.8B | AMKR, METC, IREN, AMX, JPM |
| Q3 2025 | 85 | $1.8B | METC, IREN, ORBS, GDLC, AMX |
| Q2 2025 | 71 | $1.3B | NBIS, AMX, GENI, IREN, VIST |
| Q1 2025 | 55 | $822.6M | GENI, DFS, GGAL, VIST, AMTM |
| Q4 2024 | 76 | $1.4B | JPM, GGAL, XOP, AMZN, VIST |
| Q3 2024 | 58 | $799.2M | GGAL, VIST, AMZN, TV, VST |
| Q2 2024 | 50 | $731.1M | VIST, GGAL, TV, WDC, GEHC |
| Q1 2024 | 51 | $700.0M | VIST, GBTC, TV, GGAL, GEHC |