Vault-13

DISCOVER FINL SVCS DFS

COM · Common Stock · CUSIP 254709108 · ISIN US2547091080

976 institutional holders +18 vs Q1 2023
211,051,399211.1m shares reported held*
$24.6bnreported value*
84 new 283 added 427 reduced 73 sold out net sold ≈ $1.1bn (-10.8m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($113.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $116.60. Options: 29 managers hold calls ($318.9m notional), 37 hold puts ($341.7m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 927Q4 22: 979Q1 23: 958Q2 23: 976976Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 2022927
Q4 2022979
Q1 2023958
Q2 2023976

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
5000500Q4 22: 427 bought or addedQ4 22: 392 cut or sold outQ4 22Q1 23: 374 bought or addedQ1 23: 469 cut or sold outQ1 23Q2 23: 367 bought or addedQ2 23: 500 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022427392
Q1 2023374469
Q2 2023367500

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$100m$200m$300m$400mQ3 22 calls: $164.0mQ3 22 puts: $223.6mQ3 22P/C 1.36Q4 22 calls: $183.8mQ4 22 puts: $292.2mQ4 22P/C 1.59Q1 23 calls: $279.6mQ1 23 puts: $264.6mQ1 23P/C 0.95Q2 23 calls: $318.9mQ2 23 puts: $341.7mQ2 23P/C 1.07
Numbers
QuarterCallsPutsP/C
Q3 2022$164.0m$223.6m1.36
Q4 2022$183.8m$292.2m1.59
Q1 2023$279.6m$264.6m0.95
Q2 2023$318.9m$341.7m1.07

Biggest buyers

Capital Research Global Investors New +4,244,530+4.2m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Added +1,386,794+1.4m
MARSHFIELD ASSOCIATES New +1,046,601+1.0m
Swiss National Bank New +936,690+936.7k
Holocene Advisors, LP Added +807,823+807.8k
HSBC HOLDINGS PLC Added +484,638+484.6k
MACQUARIE GROUP LTD Added +397,824+397.8k
DIMENSIONAL FUND ADVISORS LP Added +377,737+377.7k
NATIONAL BANK OF CANADA /FI/ Added +377,207+377.2k
Assenagon Asset Management S.A. Added +346,167+346.2k

Biggest sellers

FMR LLC Reduced -6,036,256-6.0m
CITADEL ADVISORS LLC Reduced -2,184,520-2.2m
VANGUARD GROUP INC Reduced -1,648,674-1.6m
ENVESTNET ASSET MANAGEMENT INC Reduced -1,614,489-1.6m
BlackRock Inc. Reduced -915,556-915.6k
STRS OHIO Reduced -905,000-905.0k
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Sold out -837,364-837.4k
Nuveen Asset Management, LLC Reduced -731,989-732.0k
TRUIST FINANCIAL CORP Reduced -586,421-586.4k
D. E. Shaw & Co., Inc. Reduced -493,233-493.2k

Biggest calls

Twin Tree Management, LP Added $100.5m860.4k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $53.4m456.7k shares
CITADEL ADVISORS LLC Reduced $45.9m392.9k shares
BANK OF AMERICA CORP /DE/ Added $23.0m197.0k shares
MILLENNIUM MANAGEMENT LLC Added $23.0m196.7k shares
SIMPLEX TRADING, LLC Added $15.0m195.6k shares
JANE STREET GROUP, LLC Added $7.3m62.1k shares
WOLVERINE TRADING, LLC Added $6.5m55.4k shares
Eisler Capital (UK) Ltd. New $5.8m49.6k shares
GROUP ONE TRADING LLC Added $5.3m45.4k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $49.3m421.6k shares
SOROS FUND MANAGEMENT LLC Added $46.7m400.0k shares
Eisler Capital (UK) Ltd. Added $31.3m268.1k shares
CITADEL ADVISORS LLC Added $26.2m223.8k shares
BANK OF AMERICA CORP /DE/ Added $20.3m173.8k shares
MILLENNIUM MANAGEMENT LLC Reduced $19.9m169.9k shares
JANE STREET GROUP, LLC Added $19.5m166.7k shares
D. E. Shaw & Co., Inc. Added $15.6m133.7k shares
Parallax Volatility Advisers, L.P. Reduced $13.1m112.4k shares
Walleye Trading LLC Reduced $12.3m105.3k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
BlackRock, Inc. 13G · institution -1.1 pts · filed 2025-04-24 7.6% -1.1 pts 19.1m 2025-04-24

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VANGUARD GROUP INC 0.09% of their portfolio Valley Forge, PA 33,106,76633.1m $3.9bn $3.9bn 0.09% Reduced -1.6m -1,648,674
2 Capital World Investors 0.47% of their portfolio LOS ANGELES, CA 21,119,40421.1m $2.5bn $2.5bn 0.47% Reduced -147.7k -147,658
3 BlackRock Inc. 0.06% of their portfolio New York, NY 18,043,46418.0m $2.1bn $2.1bn 0.06% Reduced -915.6k -915,556
4 STATE STREET CORP 0.07% of their portfolio BOSTON, MA 10,659,50710.7m $1.2bn $1.2bn 0.07% Reduced -335.1k -335,083
5 Boston Partners 0.86% of their portfolio BOSTON, MA 5,495,1315.5m $640.8m $640.8m 0.86% Reduced -82.7k -82,720
6 GEODE CAPITAL MANAGEMENT, LLC 0.07% of their portfolio BOSTON, MA 5,459,0285.5m $636.8m $636.8m 0.07% Reduced -172.0k -171,957
7 FMR LLC 0.05% of their portfolio BOSTON, MA 5,448,3505.4m $636.6m $636.6m 0.05% Reduced -6.0m -6,036,256
8 MORGAN STANLEY 0.05% of their portfolio NEW YORK, NY 4,618,0684.6m $539.6m $539.6m 0.05% Reduced -12.1k -12,062
9 Capital Research Global Investors 0.13% of their portfolio Los Angeles, CA 4,244,5304.2m $496.0m $496.0m 0.13% New
10 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.52% of their portfolio BOSTON, MA 3,633,2513.6m $424.5m $424.5m 0.52% Added +1.4m +1,386,794
11 DIMENSIONAL FUND ADVISORS LP 0.12% of their portfolio AUSTIN, TX 3,323,2193.3m $388.4m $388.4m 0.12% Added +377.7k +377,737
12 NORGES BANK 0.07% of their portfolio OSLO, Q8 3,183,1443.2m $372.0m $372.0m 0.07% Reduced -49.0k -48,967
13 Southpoint Capital Advisors LP 6.52% of their portfolio NEW YORK, NY 2,572,6342.6m $300.6m $300.6m 6.52% Added +72.6k +72,634
14 NORTHERN TRUST CORP 0.06% of their portfolio CHICAGO, IL 2,557,7202.6m $298.9m $298.9m 0.06% Reduced -390.9k -390,895
15 BARCLAYS PLC 0.16% of their portfolio LONDON, X0 2,150,4802.2m $251.3m $251.3m 0.16% Added +291.3k +291,306
16 PRINCIPAL FINANCIAL GROUP INC 0.16% of their portfolio DES MOINES, IA 2,009,5132.0m $234.8m $234.8m 0.16% Reduced -20.5k -20,480
17 Bank of New York Mellon Corp 0.05% of their portfolio NEW YORK, NY 2,001,5482.0m $233.9m $233.9m 0.05% Reduced -153.8k -153,780
18 AMERIPRISE FINANCIAL INC 0.07% of their portfolio MINNEAPOLIS, MN 1,999,5872.0m $233.7m $233.7m 0.07% Reduced -158.7k -158,691
19 LSV ASSET MANAGEMENT 0.51% of their portfolio CHICAGO, IL 1,962,2392.0m $229.3m $229.3m 0.51% Reduced -13.5k -13,520
20 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 1,948,3381.9m $227.7m $227.7m 0.03% Added +195.1k +195,099
21 Legal & General Group Plc 0.07% of their portfolio London, X0 1,889,1181.9m $220.7m $220.7m 0.07% Reduced -128.7k -128,665
22 PRIMECAP MANAGEMENT CO/CA/ 0.18% of their portfolio PASADENA, CA 1,841,1291.8m $215.1m $215.1m 0.18% Reduced -176.0k -176,010
23 Nuveen Asset Management, LLC 0.07% of their portfolio CHICAGO, IL 1,764,5131.8m $206.2m $206.2m 0.07% Reduced -732.0k -731,989
24 GOLDMAN SACHS GROUP INC 0.05% of their portfolio NEW YORK, NY 1,729,4731.7m $202.1m $202.1m 0.05% Reduced -171.3k -171,290
25 Invesco Ltd. 0.05% of their portfolio ATLANTA, GA 1,706,3731.7m $199.4m $199.4m 0.05% Reduced -124.0k -123,959
26 Capital International Investors 0.05% of their portfolio Los Angeles, CA 1,702,4391.7m $198.9m $198.9m 0.05% Added +134 +134
27 FIRST TRUST ADVISORS LP 0.22% of their portfolio Wheaton, IL 1,655,0821.7m $193.4m $193.4m 0.22% Reduced -333.7k -333,730
28 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.05% of their portfolio SAN FRANCISCO, CA 1,609,2861.6m $188.0m $188.0m 0.05% Reduced -52.8k -52,760
29 UBS Group AG 0.08% of their portfolio ZURICH, V8 1,525,0151.5m $178.2m $178.2m 0.08% Added +29.6k +29,566
30 DEUTSCHE BANK AG\ 0.09% of their portfolio FRANKFURT AM MAIN, 2M 1,475,2261.5m $172.4m $172.4m 0.09% Added +132.0k +131,968
31 Rockefeller Capital Management L.P. 0.65% of their portfolio NEW YORK, NY 1,444,1421.4m $167.8m $167.8m 0.65% First filing
32 Balyasny Asset Management L.P. 0.39% of their portfolio Chicago, IL 1,210,2981.2m $141.4m $141.4m 0.39% Added +142.3k +142,346
33 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.06% of their portfolio NEW YORK, NY 1,177,4081.2m $116.4m $116.4m 0.06% Unchanged
34 NORDEA INVESTMENT MANAGEMENT AB 0.18% of their portfolio STOCKHOLM, V7 1,124,1571.1m $132.6m $132.6m 0.18% Reduced -13.5k -13,523
35 TURTLE CREEK ASSET MANAGEMENT INC. 3.76% of their portfolio TORONTO, A6 1,122,1551.1m $131.1m $131.1m 3.76% Reduced -108.7k -108,650
36 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 1,075,1391.1m $125.6m $125.6m 0.01% Reduced -124.5k -124,518
37 MARSHFIELD ASSOCIATES 3.18% of their portfolio Washington, DC 1,046,6011.0m $122.3m $122.3m 3.18% New
38 ENVESTNET ASSET MANAGEMENT INC 0.05% of their portfolio Berwyn, PA 956,227956.2k $111.7m $111.7m 0.05% Reduced -1.6m -1,614,489
39 COOKE & BIELER LP 1.04% of their portfolio PHILADELPHIA, PA 953,811953.8k $111.5m $111.5m 1.04% Reduced -11.5k -11,509
40 EMINENCE CAPITAL, LP 1.98% of their portfolio NEW YORK, NY 944,766944.8k $110.4m $110.4m 1.98% Reduced -406.3k -406,341
41 HSBC HOLDINGS PLC 0.12% of their portfolio LONDON, X0 943,307943.3k $110.2m $110.2m 0.12% Added +484.6k +484,638
42 Swiss National Bank 0.07% of their portfolio ZURICH, V8 936,690936.7k $109.5m $109.5m 0.07% New
43 Allspring Global Investments Holdings, LLC 0.17% of their portfolio CHARLOTTE, NC 910,146910.1k $106.4m $106.4m 0.17% Reduced -212.1k -212,075
44 MACQUARIE GROUP LTD 0.12% of their portfolio Sydney, NSW 2000, C3 887,846887.8k $103.7m $103.7m 0.12% Added +397.8k +397,824
45 Allianz Asset Management GmbH 0.20% of their portfolio MUNICH, 2M 858,087858.1k $100.3m $100.3m 0.20% Reduced -121.5k -121,455
46 PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio BALTIMORE, MD 832,195832.2k $97.2m $97.2m 0.01% Reduced -120.3k -120,336
47 Holocene Advisors, LP 0.42% of their portfolio New York, NY 813,302813.3k $95.0m $95.0m 0.42% Added +807.8k +807,823
48 MILLENNIUM MANAGEMENT LLC 0.10% of their portfolio NEW YORK, NY 798,122798.1k $93.3m $93.3m 0.10% Added +130.1k +130,083
49 Sumitomo Mitsui Trust Group, Inc. 0.06% of their portfolio CHIYODA-KU, TOKYO, M0 659,823659.8k $77.1m $77.1m 0.06% Reduced -120.4k -120,419
50 Corient Private Wealth LP 0.17% of their portfolio MIAMI, FL 640,929640.9k $74.9m $74.9m 0.17% Added +299.1k +299,127
51 APG Asset Management N.V. 0.13% of their portfolio Amsterdam, P7 616,931616.9k $66.1m $66.1m 0.13% Reduced -74.8k -74,815
52 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 612,323612.3k $71.5m $71.5m 0.02% Added +178.6k +178,602
53 TRUIST FINANCIAL CORP 0.11% of their portfolio CHARLOTTE, NC 577,592577.6k $67.5m $67.5m 0.11% Reduced -586.4k -586,421
54 D. E. Shaw & Co., Inc. 0.10% of their portfolio New York, NY 557,543557.5k $65.1m $65.1m 0.10% Reduced -493.2k -493,233
55 140 Summer Partners LP 13.83% of their portfolio New York, NY 533,039533.0k $62.3m $62.3m 13.83% Reduced -126.8k -126,800
56 RHUMBLINE ADVISERS 0.07% of their portfolio BOSTON, MA 530,762530.8k $62.0m $62.0m 0.07% Reduced -17.3k -17,326
57 AustralianSuper Pty Ltd 0.38% of their portfolio MELBOURNE, C3 513,761513.8k $60.0m $60.0m 0.38% Added +322.7k +322,696
58 Amundi 0.03% of their portfolio Paris, I0 511,624511.6k $60.4m $60.4m 0.03% Reduced -138.3k -138,252
59 California Public Employees Retirement System 0.05% of their portfolio Sacramento, CA 504,597504.6k $59.0m $59.0m 0.05% Reduced -48.9k -48,859
60 VICTORY CAPITAL MANAGEMENT INC 0.06% of their portfolio San Antonio, TX 479,152479.2k $56.0m $56.0m 0.06% Added +2.6k +2,603
61 SCHRODER INVESTMENT MANAGEMENT GROUP 0.08% of their portfolio London, X0 468,427468.4k $54.7m $54.7m 0.08% Reduced -70.2k -70,225
62 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.03% of their portfolio Toronto, A6 468,419468.4k $54.7m $54.7m 0.03% Reduced -15.4k -15,411
63 BANK OF MONTREAL /CAN/ 0.02% of their portfolio TORONTO, A6 464,440464.4k $54.4m $54.4m 0.02% Added +57.5k +57,533
64 CREDIT SUISSE AG/ 0.05% of their portfolio ZURICH, V8 459,896459.9k $53.7m $53.7m 0.05% Reduced -17.7k -17,732
65 Thrivent Financial for Lutherans 0.12% of their portfolio Minneapolis, MN 453,862453.9k $53.0m $53.0m 0.12% Reduced -38.3k -38,280
66 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.73% of their portfolio Stamford, CT 421,161421.2k $49.2m $49.2m 0.73% Added +33.8k +33,764
67 NATIONAL BANK OF CANADA /FI/ 0.10% of their portfolio MONTREAL, A8 420,828420.8k $49.7m $49.7m 0.10% Added +377.2k +377,207
68 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.07% of their portfolio WEST SACRAMENTO, CA 412,117412.1k $48.2m $48.2m 0.07% Reduced -31.9k -31,860
69 Grantham, Mayo, Van Otterloo & Co. LLC 0.22% of their portfolio Boston, MA 410,033410.0k $47.9m $47.9m 0.22% Added +114.0k +114,017
70 Mitsubishi UFJ Trust & Banking Corp 0.11% of their portfolio TOKYO, M0 394,552394.6k $46.1m $46.1m 0.11% Reduced -25.1k -25,109
71 Rathbones Group PLC 0.42% of their portfolio Liverpool, X0 386,134386.1k $45.1m $45.1m 0.42% Added +37.6k +37,603
72 BRUNI J V & CO /CO 5.97% of their portfolio COLORADO SPRINGS, CO 385,157385.2k $45.0m $45.0m 5.97% Reduced -1.5k -1,506
73 National Pension Service 0.07% of their portfolio JEONJU-SI, JEOLLABUK-DO, M5 383,729383.7k $45.2m $45.2m 0.07% Reduced -25.4k -25,414
74 M&G INVESTMENT MANAGEMENT LTD 0.26% of their portfolio London, X0 375,277375.3k $43.9m $43.9m 0.26% Added +3.2k +3,175
75 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 375,200375.2k $43.8m $43.8m 0.01% Reduced -22.8k -22,845
76 Brandywine Global Investment Management, LLC 0.36% of their portfolio PHILADELPHIA, PA 372,058372.1k $43.5m $43.5m 0.36% Reduced -400.8k -400,846
77 MOORE CAPITAL MANAGEMENT, LP 1.05% of their portfolio NEW YORK, NY 367,956368.0k $43.0m $43.0m 1.05% Added +163.9k +163,920
78 Assenagon Asset Management S.A. 0.17% of their portfolio SENNINGERBERG, N4 360,754360.8k $42.2m $42.2m 0.17% Added +346.2k +346,167
79 Robeco Institutional Asset Management B.V. 0.11% of their portfolio ROTTERDAM, P7 359,042359.0k $42.0m $42.0m 0.11% Reduced -151.6k -151,610
80 WATERS PARKERSON & CO., LLC 2.31% of their portfolio NEW ORLEANS, LA 350,140350.1k $40.9m $40.9m 2.31% Reduced -1.1k -1,079
81 SMITH CHAS P & ASSOCIATES PA CPAS 2.60% of their portfolio LAKELAND, FL 346,559346.6k $40.5m $40.5m 2.60% Added +5.5k +5,519
82 Employees Retirement System of Texas 0.53% of their portfolio AUSTIN, TX 333,000333.0k $38.9m $38.9m 0.53% Unchanged
83 ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio NASHVILLE, TN 332,494332.5k $38.9m $38.9m 0.02% Reduced -11.0k -11,046
84 TORONTO DOMINION BANK 0.03% of their portfolio TORONTO, ONTARIO, A6 324,940324.9k $37.9m $37.9m 0.03% Added +193.0k +193,014
85 NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.09% of their portfolio ALBANY, NY 324,110324.1k $37.9m $37.9m 0.09% Reduced -26.2k -26,216
86 KBC Group NV 0.15% of their portfolio Brussels, C9 321,719321.7k $37.6m $37.6m 0.15% Added +93.0k +92,997
87 STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.08% of their portfolio TALLAHASSEE, FL 304,906304.9k $35.6m $35.6m 0.08% Reduced -42.0k -41,995
88 Ensign Peak Advisors, Inc 0.07% of their portfolio SALT LAKE CITY, UT 302,280302.3k $35.3m $35.3m 0.07% Reduced -41.9k -41,947
89 WEDGE CAPITAL MANAGEMENT L L P/NC 0.55% of their portfolio CHARLOTTE, NC 293,987294.0k $34.4m $34.4m 0.55% Reduced -16.6k -16,570
90 Korea Investment CORP 0.09% of their portfolio SEOUL, M5 289,304289.3k $33.8m $33.8m 0.09% Reduced -122.3k -122,293
91 Man Group plc 0.10% of their portfolio LONDON, X0 285,758285.8k $33.4m $33.4m 0.10% New
92 Cerity Partners LLC 0.13% of their portfolio NEW YORK, NY 277,316277.3k $32.4m $32.4m 0.13% Reduced -1.1k -1,111
93 CANADA LIFE ASSURANCE Co 0.07% of their portfolio WINNIPEG, A2 266,445266.4k $31.3m $31.3m 0.07% Reduced -12.6k -12,622
94 PRUDENTIAL FINANCIAL INC 0.04% of their portfolio NEWARK, NJ 264,629264.6k $30.9m $30.9m 0.04% Reduced -24.5k -24,523
95 AQR CAPITAL MANAGEMENT LLC 0.06% of their portfolio Greenwich, CT 259,764259.8k $30.4m $30.4m 0.06% Reduced -119.2k -119,245
96 NEW YORK STATE COMMON RETIREMENT FUND 0.04% of their portfolio ALBANY, NY 255,943255.9k $29.9m $29.9m 0.04% Reduced -17.1k -17,075
97 CITIGROUP INC 0.04% of their portfolio NEW YORK, NY 253,664253.7k $29.6m $29.6m 0.04% Reduced -12.7k -12,736
98 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.06% of their portfolio Boston, MA 252,938252.9k $29.6m $29.6m 0.06% Reduced -127.3k -127,270
99 DEROY & DEVEREAUX PRIVATE INVESTMENT COUNSEL INC 2.00% of their portfolio BLOOMFIELD HILLS, MI 246,411246.4k $28.8m $28.8m 2.00% Added +456 +456
100 RAYMOND JAMES & ASSOCIATES 0.02% of their portfolio ST PETERSBURG, FL 245,243245.2k $28.7m $28.7m 0.02% Reduced -32.4k -32,426