Vault-13

DISCOVER FINL SVCS DFS

COM · Common Stock · CUSIP 254709108 · ISIN US2547091080

10 institutional holders -1,168 vs Q1 2025
104,360104.4k shares reported held*
$15.3mreported value*
0 new 2 added 6 reduced 1,146 sold out net sold ≈ $36.4bn (-210.0m 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. Holder counts are more reliable. Implied quarter-end price ≈ $147.04.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 927Q4 22: 979Q1 23: 958Q2 23: 976Q3 23: 910Q4 23: 980Q1 24: 1,037Q2 24: 1,031Q3 24: 1,062Q4 24: 1,173Q1 25: 1,178Q2 25: 1010Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022927
Q4 2022979
Q1 2023958
Q2 2023976
Q3 2023910
Q4 2023980
Q1 20241,037
Q2 20241,031
Q3 20241,062
Q4 20241,173
Q1 20251,178
Q2 202510

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ3 23: 389 bought or addedQ3 23: 487 cut or sold outQ4 23: 417 bought or addedQ4 23: 423 cut or sold outQ4 23Q1 24: 431 bought or addedQ1 24: 487 cut or sold outQ2 24: 417 bought or addedQ2 24: 457 cut or sold outQ2 24Q3 24: 480 bought or addedQ3 24: 418 cut or sold outQ4 24: 492 bought or addedQ4 24: 489 cut or sold outQ4 24Q1 25: 497 bought or addedQ1 25: 550 cut or sold outQ2 25: 2 bought or addedQ2 25: 1,152 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023389487
Q4 2023417423
Q1 2024431487
Q2 2024417457
Q3 2024480418
Q4 2024492489
Q1 2025497550
Q2 202521,152

Calls vs puts

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

CallsPuts
$0$100m$200m$300m$400mQ3 24 calls: $273.7mQ3 24 puts: $380.0mQ3 24P/C 1.39Q4 24 calls: $269.1mQ4 24 puts: $257.4mQ4 24P/C 0.96Q1 25 calls: $185.6mQ1 25 puts: $295.3mQ1 25P/C 1.59Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —
Numbers
QuarterCallsPutsP/C
Q3 2024$273.7m$380.0m1.39
Q4 2024$269.1m$257.4m0.96
Q1 2025$185.6m$295.3m1.59
Q2 2025$0$0—

Biggest buyers

IFP Advisors, Inc Added +824+824
Sunbelt Securities, Inc. Added +9+9

Biggest sellers

VANGUARD GROUP INC Sold out -31,151,624-31.2m
Capital World Investors Sold out -20,688,885-20.7m
BlackRock, Inc. Sold out -20,590,789-20.6m
STATE STREET CORP Sold out -10,930,219-10.9m
FMR LLC Sold out -6,436,664-6.4m
GEODE CAPITAL MANAGEMENT, LLC Sold out -6,395,805-6.4m
NORGES BANK Sold out -4,961,102-5.0m
MORGAN STANLEY Sold out -4,602,174-4.6m
Boston Partners Sold out -3,621,894-3.6m
DIMENSIONAL FUND ADVISORS LP Sold out -3,143,456-3.1m

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 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 DekaBank Deutsche Girozentrale 0.02% of their portfolio FRANKFURT, 2M 61,76561.8k $8.6m $8.6m 0.02% Reduced -3.3k -3,336
2 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 17,83917.8k $1.9m $1.9m 0.00% Reduced -21.0k -20,971
3 Dynasty Wealth Management, LLC 0.03% of their portfolio ST. PETERSBURG, FL 9,6289.6k $1.9m $1.9m 0.03% Reduced -1.8k -1,818
4 Kestra Investment Management, LLC 0.02% of their portfolio AUSTIN, TX 6,4486.4k $1.1m $1.1m 0.02% Reduced -6.4k -6,448
5 VAN ECK ASSOCIATES CORP 0.00% of their portfolio NEW YORK, NY 5,4085.4k $1.1m $1.1m 0.00% Reduced -24.9k -24,876
6 IFP Advisors, Inc 0.02% of their portfolio TAMPA, FL 2,6682.7k $553.5k $553.5k 0.02% Added +824 +824
7 Sunbelt Securities, Inc. 0.00% of their portfolio HOUSTON, TX 315315 $54.6k $54.6k 0.00% Added +9 +9
8 OLIVER LAGORE VANVALIN INVESTMENT GROUP 0.01% of their portfolio FLINT, MI 188188 $32.1k $32.1k 0.01% First filing
9 TrinityBridge Ltd 0.00% of their portfolio LONDON, X0 100100 $0 $0 0.00% Unchanged
10 HUNTINGTON NATIONAL BANK 0.00% of their portfolio COLUMBUS, OH 11 $200 $200 0.00% Reduced -3.5k -3,453