Discovery Capital Management, LLC / CT
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Discovery Capital Management, LLC / CT reported 87 stock positions worth $1.8 billion. Its top holding was Amkor Technology (AMKR) at 5.6% of the portfolio, followed by Ramaco Resources Class A (METC, 5.4%) and Iren (IREN, 5.3%). Compared with Q3 2025, it opened 35 new positions, sold out of 33, added to 27 and reduced 20. The biggest buy was a new position in Amkor Technology (AMKR) and the biggest sale Grayscale Coindesk 5 ETF (GDLC, shares −77%).
- Most Recent 13F
- Q2 2026
- Location
- SOUTH NORWALK, CT
- CIK
- 0001389507
- Portfolio Value
- $1.8B (Q4 2025)
- SEC Filing
- 0000919574-26-001128 ↗ filed Feb 17, 2026
Holdings Value
Holdings 87 stocks · $1.8B
| AMKR Amkor Technology Inc. | 5.62% | 2,614,934 | $103.2M | New |
| METC Ramaco Resources Inc. Class A | 5.40% | 5,511,360 | $99.2M | Add +1.1% |
| IREN Iren Ltd. filed as IREN LIMITED | 5.32% | 2,583,458 | $97.6M | Reduce -23.2% |
| AMX America Movil Sab DE CV | 4.83% | 4,291,383 | $88.7M | Reduce -8.3% |
| JPM JPMorgan Chase & Co. | 3.99% | 227,200 | $73.2M | Add +33.0% |
| TV Grupo Televisa SA-Spon ADR | 3.46% | 21,819,041 | $63.5M | Add +20.4% |
| COHR Coherent Corp. | 3.31% | 328,837 | $60.7M | New |
| COF Capital One Financial Corp. | 3.07% | 232,210 | $56.3M | Add +14.8% |
| VNET Vnet Group Inc.-ADR | 2.91% | 6,319,100 | $53.5M | Add +291.4% |
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 2.72% | 1,428,017 | $49.8M | Add +35.2% |
| GENI Genius Sports Ltd. | 2.50% | 4,165,345 | $45.9M | Reduce -18.7% |
| JBS JBS NV-A | 2.31% | 2,942,400 | $42.4M | Add +512.7% |
| EAT Brinker International Inc. | 1.96% | 250,111 | $35.9M | Add +32.1% |
| CX Cemex Sab-Spons ADR Part Cer | 1.94% | 3,091,700 | $35.5M | Reduce -3.3% |
| TTWO Take-Two Interactive Softwre | 1.91% | 136,907 | $35.1M | Add +6.5% |
| GGAL Grupo Financiero Galicia-ADR | 1.88% | 640,629 | $34.6M | New |
| COMP Compass Inc. Class A | 1.78% | 3,087,561 | $32.6M | Add +35.8% |
| PPTA Perpetua Resources Corp. | 1.72% | 1,306,700 | $31.6M | Add +148.4% |
| PSN Parsons Corp. | 1.68% | 499,100 | $30.8M | Add +13.9% |
| MU Micron Technology Inc. | 1.64% | 105,200 | $30.0M | New |
| AVGO Broadcom Inc. | 1.57% | 83,200 | $28.8M | New |
| PRMB Primo Brands Corp. | 1.55% | 1,736,100 | $28.4M | Reduce -2.8% |
| AMD Advanced Micro Devices | 1.53% | 131,400 | $28.1M | New |
| META Meta Platforms Inc. Class A | 1.51% | 42,000 | $27.7M | New |
| HDB HDFC Bank Ltd.-ADR | 1.50% | 755,600 | $27.6M | No change |
| CLF Cleveland-Cliffs Inc. | 1.43% | 1,977,700 | $26.3M | Add +11.3% |
| LRCX Lam Research Corp. | 1.42% | 151,900 | $26.0M | New |
| QXO Qxo Inc. | 1.42% | 1,346,538 | $26.0M | Reduce -26.6% |
| ORBS Eightco Holdings Inc. | 1.40% | 14,869,791 | $25.7M | Add +3.4% |
| APP AppLovin Corp. Class A | 1.37% | 37,240 | $25.1M | Add +22.7% |
| BAP Credicorp Ltd. | 1.29% | 82,500 | $23.7M | Add +32.4% |
| LITE Lumentum Holdings Inc. | 1.25% | 62,400 | $23.0M | New |
| AWI Armstrong World Industries | 1.23% | 118,000 | $22.5M | New |
| GEO The Geo Group Inc. | 1.15% | 1,311,900 | $21.1M | Reduce -3.4% |
| CHDN Churchill Downs Inc. | 1.05% | 168,900 | $19.2M | New |
| ECHO Echostar Corp. Class A | 1.02% | 173,000 | $18.8M | Add +45.5% |
| GDLC Grayscale Coindesk 5 ETF | 0.95% | 423,129 | $17.5M | Reduce -76.6% |
| FISV Fiserv Inc. | 0.95% | 259,100 | $17.4M | Add +161.2% |
| BA The Boeing Co. | 0.91% | 77,000 | $16.7M | New |
| PINS Pinterest Inc. Class A | 0.88% | 621,200 | $16.1M | Add +75.2% |
| ADBE Adobe Inc. | 0.72% | 37,900 | $13.3M | New |
| STUB Stubhub Holdings Inc. Class A | 0.71% | 960,507 | $13.0M | Add +62.0% |
| UAL United Airlines Holdings Inc. | 0.64% | 105,000 | $11.7M | New |
| ACMR Acm Research Inc. Class A | 0.64% | 296,200 | $11.7M | Add +344.7% |
| SOLV Solventum Corp. | 0.64% | 147,300 | $11.7M | Add +83.7% |
| DAL Delta Air Lines Inc. | 0.63% | 167,000 | $11.6M | New |
| ESTA Establishment Labs Holdings | 0.62% | 155,275 | $11.3M | No change |
| DDOG Datadog Inc. Class A | 0.62% | 83,200 | $11.3M | Reduce -25.1% |
| MCD McDonald's Corp. | 0.61% | 36,800 | $11.2M | New |
| AMZN Amazon.com Inc. | 0.54% | 43,300 | $10.0M | New |
| BIDU Baidu Inc. - Spon ADR | 0.54% | 75,800 | $9.9M | No change |
| DPZ Domino's Pizza Inc. | 0.54% | 23,700 | $9.9M | New |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 0.53% | 270,100 | $9.8M | New |
| AGRO Adecoagro SA | 0.52% | 1,203,535 | $9.5M | Add +93.5% |
| AEM Agnico Eagle Mines Ltd. | 0.47% | 50,400 | $8.5M | Reduce -3.1% |
| SNAP Snap Inc. Class A | 0.45% | 1,027,500 | $8.3M | Reduce -25.3% |
| BBAR Bbva Argentina SA-ADR filed as BANCO BBVA ARGENTINA S A | 0.44% | 448,100 | $8.1M | New |
| EWW iShares MSCI Mexico ETF | 0.40% | 105,150 | $7.3M | Reduce -71.5% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.39% | 427,300 | $7.2M | Reduce -38.2% |
| GLNG Golar LNG Ltd. | 0.39% | 191,987 | $7.1M | Reduce -26.5% |
| BCO The Brink's Co. | 0.38% | 59,006 | $6.9M | Add +27.5% |
| KRMN Karman Holdings Inc. | 0.30% | 75,000 | $5.5M | New |
| JRVR James River Group Holdings I | 0.28% | 819,355 | $5.2M | No change |
| LOAR Loar Holdings Inc. | 0.28% | 75,000 | $5.1M | New |
| NVT Nvent Electric PLC | 0.25% | 44,400 | $4.5M | New |
| BMA Banco Macro SA-ADR | 0.24% | 49,000 | $4.4M | New |
| LENZ Lenz Therapeutics Inc. | 0.21% | 241,300 | $3.9M | New |
| VIK Viking Holdings Ltd. | 0.19% | 50,000 | $3.6M | New |
| FRO Frontline PLC | 0.19% | 160,100 | $3.5M | Reduce -36.0% |
| ALH Alliance Laundry Holdings Inc. | 0.17% | 150,000 | $3.1M | New |
| SLM SLM Corp. | 0.16% | 111,400 | $3.0M | Reduce -37.8% |
| SN Sharkninja Inc. | 0.15% | 25,000 | $2.8M | No change |
| GLXY Galaxy Digital Inc. Class A | 0.12% | 100,000 | $2.2M | New |
| CLS Celestica Inc. | 0.12% | 7,400 | $2.2M | Reduce -94.0% |
| BE Bloom Energy Corp. Class A | 0.12% | 25,000 | $2.2M | New |
| METCB Ramaco Resources Inc. Class B | 0.08% | 125,612 | $1.5M | Add +69.4% |
| GSIT Gsi Technology Inc. | 0.06% | 183,600 | $1.1M | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.06% | 1,500 | $1.0M | Add +396.7% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.06% | 12,566 | $1.0M | New |
| IYR iShares US Real Estate ETF | 0.05% | 10,055 | $944K | New |
| MLPX Global X MLP & Energy Infras | 0.04% | 12,286 | $744K | Add +283.3% |
| SHY iShares 1-3 Year Treasury Bo | 0.04% | 8,157 | $676K | New |
| IWM iShares Russell 2000 ETF | 0.03% | 2,469 | $608K | Reduce -11.4% |
| XOP SS SPDR S&P Og Exp & Prod | 0.02% | 3,215 | $406K | New |
| EEM iShares MSCI Emerging Market | 0.02% | 7,405 | $405K | Reduce -50.8% |
| IBIT iShares Bitcoin Trust ETF | 0.02% | 6,825 | $339K | Reduce -95.2% |
| GLD SPDR Gold Shares | 0.01% | 682 | $270K | New |
Other holdings (1): bonds, preferreds, convertibles and warrants · $12.5M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 4,675,405 | $12.5M | No change |
Total filed on the 13F, all lines: $1.8B.
Portfolio Sells Q3 2025 → Q4 2025
| GDLC Grayscale Coindesk 5 ETF | Reduce -76.6% | 0.95% | −4.65 |
| IREN Iren Ltd. | Reduce -23.2% | 5.32% | −3.43 |
| VIST Vista Energy Sab DE CV | Sold out | 0.00% | −2.26 |
| CLS Celestica Inc. | Reduce -94.0% | 0.12% | −1.55 |
| ELV Elevance Health Inc. | Sold out | 0.00% | −1.51 |
| AMTM Amentum Holdings Inc. | Sold out | 0.00% | −1.51 |
| CI The Cigna Group | Sold out | 0.00% | −1.45 |
| SEI Solaris Energy Infrastructur | Sold out | 0.00% | −1.26 |
| JBL Jabil Inc. | Sold out | 0.00% | −1.17 |
| ECH iShares MSCI Chile ETF | Sold out | 0.00% | −1.16 |
| GENI Genius Sports Ltd. | Reduce -18.7% | 2.50% | −1.01 |
| EWW iShares MSCI Mexico ETF | Reduce -71.5% | 0.40% | −0.99 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −0.98 |
| PRMB Primo Brands Corp. | Reduce -2.8% | 1.55% | −0.64 |
| LBRT Liberty Energy Inc. | Sold out | 0.00% | −0.62 |
| AMX America Movil Sab DE CV | Reduce -8.3% | 4.83% | −0.61 |
| BKR Baker Hughes Co. | Sold out | 0.00% | −0.57 |
| IR Ingersoll-Rand Inc. | Sold out | 0.00% | −0.56 |
| QXO Qxo Inc. | Reduce -26.6% | 1.42% | −0.52 |
| PHM Pultegroup Inc. | Sold out | 0.00% | −0.50 |
| IBIT iShares Bitcoin Trust ETF | Reduce -95.2% | 0.02% | −0.49 |
| ATI Ati Inc. | Sold out | 0.00% | −0.47 |
| GEO The Geo Group Inc. | Reduce -3.4% | 1.15% | −0.39 |
| MSOS Advisorshares Pure US Cann | Sold out | 0.00% | −0.38 |
| TKC Turkcell Iletisim Hizmet-ADR | Sold out | 0.00% | −0.37 |
| PCG P G & E Corp. | Sold out | 0.00% | −0.28 |
| CTRN Citi Trends Inc. | Sold out | 0.00% | −0.26 |
| DDOG Datadog Inc. Class A | Reduce -25.1% | 0.62% | −0.26 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -38.2% | 0.39% | −0.22 |
| GLNG Golar LNG Ltd. | Reduce -26.5% | 0.39% | −0.20 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.19 |
| FDX FedEx Corp. | Sold out | 0.00% | −0.17 |
| XHB SS SPDR S&P Homebldrs ETF | Sold out | 0.00% | −0.16 |
| VVV Valvoline Inc. | Sold out | 0.00% | −0.16 |
| ONMD Onemednet Corp. | Sold out | 0.00% | −0.14 |
| SNAP Snap Inc. Class A | Reduce -25.3% | 0.45% | −0.14 |
| FRO Frontline PLC | Reduce -36.0% | 0.19% | −0.13 |
| FIGR Figure Technology Solut Class A | Sold out | 0.00% | −0.11 |
| SLM SLM Corp. | Reduce -37.8% | 0.16% | −0.11 |
| EPSM Epsium Enterprise Ltd. Class A | Sold out | 0.00% | −0.09 |
| ABX Abacus Global Management Inc. | Sold out | 0.00% | −0.09 |
| LGN Legence Corp. Class A | Sold out | 0.00% | −0.09 |
| TIP iShares Tips Bond ETF | Sold out | 0.00% | −0.06 |
| IEF iShares 7-10 Year Treasury B | Sold out | 0.00% | −0.06 |
| RGC Regencell Bioscience Holding | Sold out | 0.00% | −0.04 |
| EEM iShares MSCI Emerging Market | Reduce -50.8% | 0.02% | −0.02 |
| AEM Agnico Eagle Mines Ltd. | Reduce -3.1% | 0.47% | −0.02 |
| GLTR Abrdn Precious Metals Basket | Sold out | 0.00% | −0.02 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Sold out | 0.00% | −0.02 |
| USO United States Oil Fund LP | Sold out | 0.00% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| AMKR Amkor Technology Inc. | New | 5.62% | +5.62 |
| COHR Coherent Corp. | New | 3.31% | +3.31 |
| VNET Vnet Group Inc.-ADR | Add +291.4% | 2.91% | +1.99 |
| JBS JBS NV-A | Add +512.7% | 2.31% | +1.91 |
| GGAL Grupo Financiero Galicia-ADR | New | 1.88% | +1.88 |
| MU Micron Technology Inc. | New | 1.64% | +1.64 |
| AVGO Broadcom Inc. | New | 1.57% | +1.57 |
| AMD Advanced Micro Devices | New | 1.53% | +1.53 |
| META Meta Platforms Inc. Class A | New | 1.51% | +1.51 |
| LRCX Lam Research Corp. | New | 1.42% | +1.42 |
| LITE Lumentum Holdings Inc. | New | 1.25% | +1.25 |
| AWI Armstrong World Industries | New | 1.23% | +1.23 |
| PPTA Perpetua Resources Corp. | Add +148.4% | 1.72% | +1.13 |
| CHDN Churchill Downs Inc. | New | 1.05% | +1.05 |
| JPM JPMorgan Chase & Co. | Add +33.0% | 3.99% | +1.01 |
| BA The Boeing Co. | New | 0.91% | +0.91 |
| COMP Compass Inc. Class A | Add +35.8% | 1.78% | +0.77 |
| TV Grupo Televisa SA-Spon ADR | Add +20.4% | 3.46% | +0.76 |
| ADBE Adobe Inc. | New | 0.72% | +0.72 |
| COF Capital One Financial Corp. | Add +14.8% | 3.07% | +0.69 |
| UAL United Airlines Holdings Inc. | New | 0.64% | +0.64 |
| DAL Delta Air Lines Inc. | New | 0.63% | +0.63 |
| EAT Brinker International Inc. | Add +32.1% | 1.96% | +0.63 |
| MCD McDonald's Corp. | New | 0.61% | +0.61 |
| AMZN Amazon.com Inc. | New | 0.54% | +0.54 |
| DPZ Domino's Pizza Inc. | New | 0.54% | +0.54 |
| YPF YPF S.A.-Sponsored ADR | New | 0.53% | +0.53 |
| ECHO Echostar Corp. Class A | Add +45.5% | 1.02% | +0.52 |
| ACMR Acm Research Inc. Class A | Add +344.7% | 0.64% | +0.49 |
| GDS GDS Holdings Ltd. - ADR | Add +35.2% | 2.72% | +0.45 |
| BBAR Bbva Argentina SA-ADR | New | 0.44% | +0.44 |
| BAP Credicorp Ltd. | Add +32.4% | 1.29% | +0.37 |
| SOLV Solventum Corp. | Add +83.7% | 0.64% | +0.31 |
| KRMN Karman Holdings Inc. | New | 0.30% | +0.30 |
| LOAR Loar Holdings Inc. | New | 0.28% | +0.28 |
| AGRO Adecoagro SA | Add +93.5% | 0.52% | +0.25 |
| NVT Nvent Electric PLC | New | 0.25% | +0.25 |
| PINS Pinterest Inc. Class A | Add +75.2% | 0.88% | +0.24 |
| BMA Banco Macro SA-ADR | New | 0.24% | +0.24 |
| FISV Fiserv Inc. | Add +161.2% | 0.95% | +0.24 |
| CLF Cleveland-Cliffs Inc. | Add +11.3% | 1.43% | +0.23 |
| LENZ Lenz Therapeutics Inc. | New | 0.21% | +0.21 |
| VIK Viking Holdings Ltd. | New | 0.19% | +0.19 |
| ALH Alliance Laundry Holdings Inc. | New | 0.17% | +0.17 |
| APP AppLovin Corp. Class A | Add +22.7% | 1.37% | +0.16 |
| STUB Stubhub Holdings Inc. Class A | Add +62.0% | 0.71% | +0.15 |
| GLXY Galaxy Digital Inc. Class A | New | 0.12% | +0.12 |
| BE Bloom Energy Corp. Class A | New | 0.12% | +0.12 |
| BCO The Brink's Co. | Add +27.5% | 0.38% | +0.08 |
| TTWO Take-Two Interactive Softwre | Add +6.5% | 1.91% | +0.07 |
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 |