DISCOVERY CAPITAL MANAGEMENT, LLC / CT

SOUTH NORWALK, CT · CIK 1389507 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2012 · limited liability company

Assets managed$6.7bn
Staff36 · 20 in investment roles
Main clients (by assets)Private funds 100%
Private funds15 (7 hedge) · $9.5bn gross assets
Websitediscoverycapitalmanagement.com
Form ADV · 2026-03-31SEC adviser record

Legal entityDISCOVERY CAPITAL MANAGEMENT, LLC (US)

$2.4bn reported value +25.1% vs Q1 2026

113positions

49.7%in top 10

53 new 21 added 24 reduced 17 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	SANDISK CORP COM SNDK	SNDK	207,587	$472.0m19.60%	19.60%	Added +23.9k	+23,887 13.0%
2	CREDICORP LTD COM BAP	BAP	271,865	$105.9m4.40%	4.40%	Added +131.2k	+131,165 93.2%
3	AMERICA MOVIL SAB DE CV SPON ADS RP CL B AMX	AMX	3,988,067	$103.6m4.30%	4.30%	Reduced -456.1k	-456,116 -10.3%
4	AMC ENTMT HLDGS INC CL A NEW AMC	AMC	51,799,352	$98.4m4.09%	4.09%	New
5	COMPASS INC CL A COMP	COMP	7,526,497	$92.8m3.85%	3.85%	Added +1.5m	+1,454,200 23.9%
6	T1 ENERGY INC COM NEW TE	TE	7,465,100	$70.8m2.94%	2.94%	New
7	RAMACO RES INC COM CL A METC	METC	5,311,360	$70.3m2.92%	2.92%	Reduced -200.0k	-200,000 -3.6%
8	JBS N.V. CL A SHS JBS	JBS	5,436,300	$64.4m2.68%	2.68%	Added +2.1m	+2,070,900 61.5%
9	GRUPO TELEVISA S A B SPON ADR REP ORD TV	TV	22,117,634	$59.9m2.49%	2.49%	Reduced -270.3k	-270,307 -1.2%
10	CHEVRON CORP NEW COM CVX	CVX	355,336	$58.9m2.45%	2.45%	New
11	AVIS BUDGET GROUP COM CAR	CAR	353,848	$52.3m2.17%	2.17%	Reduced -194.8k	-194,829 -35.5%
12	JPMORGAN CHASE & CO COM JPM	JPM	151,300	$49.5m2.06%	2.06%	Reduced -3.4k	-3,400 -2.2%
13	NU HLDGS LTD ORD SHS CL A NU	NU	3,587,500	$47.9m1.99%	1.99%	Added +1.3m	+1,345,800 60.0%
14	GRUPO FINANCIERO GALICIA S.A SPONSORED ADR GGAL	GGAL	917,929	$45.9m1.91%	1.91%	Added +48.8k	+48,800 5.6%
15	GENIUS SPORTS LIMITED SHARES CL A GENI	GENI	7,231,145	$43.8m1.82%	1.82%	Reduced -223.1k	-223,100 -3.0%
16	APPLOVIN CORP COM CL A APP	APP	83,040	$42.8m1.78%	1.78%	Added +32.4k	+32,400 64.0%
17	AMAZON COM INC COM AMZN	AMZN	176,435	$42.1m1.75%	1.75%	Added +52.0k	+52,035 41.8%
18	CEMEX SAB DE CV SPON ADR NEW CX	CX	3,157,800	$37.9m1.57%	1.57%	Reduced -316.9k	-316,900 -9.1%
19	GEO GROUP INC NEW COM GEO	GEO	1,258,600	$37.2m1.54%	1.54%	Reduced -167.3k	-167,300 -11.7%
20	CAPITAL ONE FINL CORP COM COF	COF	173,210	$34.7m1.44%	1.44%	Reduced -95.6k	-95,600 -35.6%
21	PRIMO BRANDS CORPORATION CLASS A COM SHS PRMB	PRMB	1,379,400	$33.7m1.40%	1.40%	Reduced -20.3k	-20,300 -1.4%
22	VALERO ENERGY CORP COM VLO	VLO	119,400	$31.1m1.29%	1.29%	Added +34.4k	+34,400 40.5%
23	FERRARI N V COM RACE	RACE	81,583	$30.4m1.26%	1.26%	New
24	TAKE-TWO INTERACTIVE SOFTWAR COM TTWO	TTWO	115,000	$28.7m1.19%	1.19%	New
25	PARSONS CORP DEL COM PSN	PSN	528,600	$27.7m1.15%	1.15%	Added +29.5k	+29,500 5.9%
26	YPF SOCIEDAD ANONIMA SPON ADR CL D YPF	YPF	604,992	$27.5m1.14%	1.14%	Added +66.8k	+66,800 12.4%
27	GOLDMAN SACHS GROUP INC COM GS	GS	27,000	$27.3m1.13%	1.13%	New
28	FISERV INC COM FISV	FISV	551,200	$27.0m1.12%	1.12%	Added +241.6k	+241,600 78.0%
29	WOLFSPEED INC COMMON STOCK WOLF	WOLF	548,375	$26.5m1.10%	1.10%	Added +123.7k	+123,675 29.1%
30	LPL FINL HLDGS INC COM LPLA	LPLA	93,500	$26.3m1.09%	1.09%	New
31	PERPETUA RESOURCES CORP COM PPTA	PPTA	1,186,700	$24.6m1.02%	1.02%	Reduced -120.0k	-120,000 -9.2%
32	ULTA BEAUTY INC COM ULTA	ULTA	52,000	$23.5m0.97%	0.97%	Added +5.4k	+5,400 11.6%
33	BANCO BBVA ARGENTINA S A SPONSORED ADS BBAR	BBAR	1,166,600	$22.9m0.95%	0.95%	Added +159.1k	+159,100 15.8%
34	QXO INC COM NEW QXO	QXO	1,242,390	$21.5m0.89%	0.89%	Reduced -133.7k	-133,700 -9.7%
35	FIVE BELOW INC COM FIVE	FIVE	102,700	$18.5m0.77%	0.77%	New
36	WARBY PARKER INC CL A COM WRBY	WRBY	587,655	$17.8m0.74%	0.74%	New
37	ON SEMICONDUCTOR CORP COM ON	ON	162,300	$15.3m0.64%	0.64%	Reduced -1.2m	-1,247,000 -88.5%
38	SOLV ENERGY INC COM SHS CL A MWH	MWH	411,700	$14.0m0.58%	0.58%	New
39	PINTEREST INC CL A PINS	PINS	665,969	$14.0m0.58%	0.58%	Reduced -107.0k	-106,955 -13.8%
40	ROCKET COS INC COM CL A RKT	RKT	884,300	$13.9m0.58%	0.58%	Unchanged
41	NEXTRACKER INC CLASS A COM NXT	NXT	116,800	$13.9m0.58%	0.58%	New
42	ADECOAGRO S A COM AGRO	AGRO	1,379,217	$13.2m0.55%	0.55%	Added +105.0k	+105,000 8.2%
43	CHURCHILL DOWNS INC COM CHDN	CHDN	138,200	$12.4m0.51%	0.51%	Reduced -22.0k	-22,000 -13.7%
44	ZOOM COMMUNICATIONS INC CL A ZM	ZM	139,600	$12.0m0.50%	0.50%	New
45	AGNICO EAGLE MINES LTD COM AEM	AEM	77,300	$12.0m0.50%	0.50%	Added +34.0k	+34,000 78.5%
46	GROUPON INC COM NEW GRPN	GRPN	491,051	$11.8m0.49%	0.49%	New
47	SALESFORCE INC COM CRM	CRM	71,900	$11.3m0.47%	0.47%	Added +22.4k	+22,400 45.2%
48	HALLIBURTON CO COM HAL	HAL	304,700	$10.3m0.43%	0.43%	New
49	HYPERLIQUID STRATEGIES INC COM PURR	PURR	1,314,000	$10.3m0.43%	0.43%	New
50	MACOM TECH SOLUTIONS HLDGS I COM MTSI	MTSI	26,900	$10.2m0.42%	0.42%	New
51	FIRST SOLAR INC COM FSLR	FSLR	41,600	$9.8m0.41%	0.41%	Unchanged
52	CONTROLADORA VUELA COMP DE A SPON ADR RP 10 VLRS	VLRS	964,171	$9.0m0.38%	0.38%	Unchanged
53	STUBHUB HLDGS INC CL A STUB	STUB	697,807	$9.0m0.37%	0.37%	Reduced -262.7k	-262,700 -27.4%
54	IREN LIMITED ORDINARY SHARES IREN	IREN	181,200	$8.3m0.34%	0.34%	Reduced -1.7m	-1,653,085 -90.1%
55	BRINKS CO COM BCO	BCO	59,006	$5.6m0.23%	0.23%	Unchanged
56	PAMPA ENERGIA S A SPONS ADR LVL I PAM	PAM	65,200	$5.4m0.22%	0.22%	New
57	ISHARES TR MSCI PERU AND GL EPU	EPU	62,500	$5.2m0.22%	0.22%	New
58	ISHARES TR 1 3 YR TREAS BD SHY	SHY	63,237	$5.2m0.22%	0.22%	Added +6.6k	+6,580 11.6%
59	HERTZ GLOBAL HLDGS INC *W EXP 06/30/205 HTZWW	HTZWW	4,675,405	$5.1m0.21%	0.21%	Unchanged
60	KARMAN HLDGS INC COMMON STOCK KRMN	KRMN	100,000	$5.0m0.21%	0.21%	New
61	CHUBB LIMITED COM CB	CB	14,612	$5.0m0.21%	0.21%	New
62	ECHOSTAR CORP CL A ECHO	ECHO	48,800	$5.0m0.21%	0.21%	Reduced -363.5k	-363,500 -88.2%
63	JUMIA TECHNOLOGIES AG SPONSORED ADS JMIA	JMIA	697,226	$4.9m0.20%	0.20%	Unchanged
64	JAMES RIV GROUP HOLDINGS INC COM SHS JRVR	JRVR	1,059,155	$4.7m0.19%	0.19%	Added +239.8k	+239,800 29.3%
65	ADVANCED MICRO DEVICES INC COM AMD	AMD	7,817	$4.5m0.19%	0.19%	New
66	DIGITAL RLTY TR INC COM DLR	DLR	23,500	$4.2m0.18%	0.18%	New
67	ALPHABET INC CAP STK CL A GOOGL	GOOGL	10,209	$3.6m0.15%	0.15%	New
68	INTUIT COM INTU	INTU	13,800	$3.6m0.15%	0.15%	Reduced -7.5k	-7,500 -35.2%
69	DATADOG INC CL A COM DDOG	DDOG	13,680	$3.6m0.15%	0.15%	New
70	MARVELL TECHNOLOGY INC COM MRVL	MRVL	11,796	$3.5m0.15%	0.15%	New
71	PALO ALTO NETWORKS INC COM PANW	PANW	10,174	$3.5m0.14%	0.14%	New
72	CHAMPION HOMES INC COM SKY	SKY	35,800	$3.2m0.13%	0.13%	New
73	FIGMA INC CLASS A COM STK FIG	FIG	157,852	$2.9m0.12%	0.12%	New
74	HUT 8 CORP COM HUT	HUT	23,900	$2.8m0.11%	0.11%	New
75	ELI LILLY & CO COM LLY	LLY	2,267	$2.7m0.11%	0.11%	New
76	CLOUDFLARE INC CL A COM NET	NET	10,932	$2.7m0.11%	0.11%	New
77	RUBRIK INC. CL A RBRK	RBRK	33,169	$2.7m0.11%	0.11%	New
78	OUSTER INC COM NEW OUST	OUST	40,674	$2.5m0.11%	0.11%	New
79	VERTIV HOLDINGS CO COM CL A VRT	VRT	7,589	$2.5m0.11%	0.11%	New
80	SNOWFLAKE INC CL A SNOW	SNOW	9,732	$2.5m0.10%	0.10%	New
81	REDDIT INC CL A RDDT	RDDT	13,982	$2.4m0.10%	0.10%	New
82	ROBLOX CORP CL A RBLX	RBLX	43,792	$2.4m0.10%	0.10%	New
83	BANK NEW YORK MELLON CORP COM BNY	BNY	16,432	$2.4m0.10%	0.10%	New
84	SERVICETITAN INC SHS CL A TTAN	TTAN	32,910	$2.3m0.10%	0.10%	New
85	BITWISE HYPERLIQUID ETF COM SHS BEN INT BHYP	BHYP	63,000	$2.3m0.10%	0.10%	New
86	COMPASS PATHWAYS PLC SPONSORED ADS CMPS	CMPS	150,000	$2.1m0.09%	0.09%	Reduced -29.7k	-29,716 -16.5%
87	ARISTA NETWORKS INC COM SHS ANET	ANET	12,307	$2.1m0.09%	0.09%	New
88	ISHARES INC MSCI MEXICO ETF EWW	EWW	26,700	$2.0m0.08%	0.08%	New
89	BANCO MACRO SA SPON ADR B BMA	BMA	21,400	$2.0m0.08%	0.08%	New
90	LAM RESEARCH CORP COM NEW LRCX	LRCX	4,568	$2.0m0.08%	0.08%	Reduced -293.4k	-293,448 -98.5%
91	CIENA CORP COM NEW CIEN	CIEN	4,009	$2.0m0.08%	0.08%	New
92	PROLOGIS INC. COM PLD	PLD	13,186	$1.8m0.07%	0.07%	New
93	CIPHER MINING INC COM CIFR	CIFR	70,819	$1.7m0.07%	0.07%	New
94	MICRON TECHNOLOGY INC COM MU	MU	1,498	$1.7m0.07%	0.07%	Reduced -274.6k	-274,552 -99.5%
95	SPDR SER TR S&P HOMEBUILD XHB	XHB	14,100	$1.6m0.07%	0.07%	New
96	TERAWULF INC COM WULF	WULF	64,515	$1.6m0.07%	0.07%	New
97	QUALCOMM INC COM QCOM	QCOM	8,593	$1.6m0.07%	0.07%	New
98	COHERENT CORP COM COHR	COHR	3,881	$1.5m0.06%	0.06%	New
99	21SHARES HYPERLIQUID ETF SHS BEN INT THYP	THYP	39,200	$1.5m0.06%	0.06%	New
100	LENZ THERAPEUTICS INC COM LENZ	LENZ	241,300	$1.4m0.06%	0.06%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
INTERCORP FINL SVCS INC IFS	IFS	1,057,404	$53.1m1.1m shares
VNET GROUP INC VNET	VNET	6,008,300	$50.4m6.0m shares
ISHARES BITCOIN TRUST ETF IBIT	IBIT	643,725	$24.7m643.7k shares
CHENIERE ENERGY INC LNG	LNG	67,400	$19.1m67.4k shares
ROSS STORES INC ROST	ROST	71,600	$15.5m71.6k shares
TERADYNE INC TER	TER	52,000	$15.4m52.0k shares
ISHARES TR SOXX	SOXX	44,200	$14.5m44.2k shares
GOLAR LNG LTD GLNG	GLNG	266,500	$14.4m266.5k shares
CLEVELAND-CLIFFS INC NEW CLF	CLF	1,447,600	$12.2m1.4m shares
MEDLINE INC MDLN	MDLN	250,000	$11.1m250.0k shares
NVIDIA CORPORATION NVDA	NVDA	57,200	$10.0m57.2k shares
FORGENT POWER SOLUTIONS INC FPS	FPS	275,000	$8.0m275.0k shares
ALEXANDRIA REAL ESTATE EQ IN ARE	ARE	100,000	$4.6m100.0k shares
HDFC BANK LTD HDB	HDB	183,000	$4.6m183.0k shares
INFLEQTION INC INFQ	INFQ	395,700	$3.9m395.7k shares
ALLIANCE LAUNDRY HLDGS INC ALH	ALH	150,000	$3.1m150.0k shares
SPDR SER TR XOP	XOP	3,215	$584.6k3.2k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
RAMACO RES INC METC · 13G · filed 2025-11-13	METC	9.9%≈ $72.1m	+3.7 pts	13G	2025-11-13
AMC ENTMT HLDGS INC AMC · 13G · filed 2026-08-14	AMC	5.8%≈ $98.4m	-1.6 pts	13G	2026-08-14
COINSHARES PLC CSHR · 13G · filed 2026-05-21	CSHR	5.0%≈ $24.8m	new	13G	2026-05-21

Trades reported as a company insider since 1 Apr 2026

Owning 10% or more of a company, or having someone on its board, makes this manager an insider there: it reports its trades in that company's shares on Form 4 within two business days. Open-market and private purchases and sales only.

Date	Company	Ticker	Trade	Shares	Value	Their holding
2026-08-06	RAMACO RES INC 10% owner · See footnote	METC	Sold	500,000	$4.8m500.0k shares	-9%
2026-05-01	RAMACO RES INC 10% owner · See footnote	METC	Sold	200,000	$3.0m200.0k shares	-4%