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DCM
Discovery Capital Management Portfolio holdings
AUM
$1.92B
1-Year Est. Return
218.96%
This Fund
S&P 500
This Quarter
Est. Return
+6.75%
1 Year Est. Return
+218.96%
3 Year Est. Return
+556.4%
5 Year Est. Return
+606.07%
10 Year Est. Return
+5,733.18%
AUM
$1.85B
AUM Growth
+$24.5M
(+1.3%)
Cap. Flow
+$219M
Cap. Flow
% of AUM
11.83%
Top 10 Holdings %
Top 10 Hldgs %
40.35%
Holding
121
New
35
Increased
27
Reduced
20
Closed
33
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amkor Technology
AMKR
|
+$93.1M |
| 2 |
Coherent
COHR
|
+$49.2M |
| 3 |
VNET
VNET Group
VNET
|
+$43.6M |
| 4 |
JBS
JBS N.V.
JBS
|
+$33.8M |
| 5 |
Galicia Financial Group
GGAL
|
+$30M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GDLC
Grayscale CoinDesk Crypto 5 ETF
GDLC
|
+$66.5M |
| 2 |
Vista Energy
VIST
|
+$40.7M |
| 3 |
Iris Energy
IREN
|
+$40.4M |
| 4 |
Celestica
CLS
|
+$34.7M |
| 5 |
Elevance Health
ELV
|
+$27.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.57% |
| 2 | Communication Services | 19.05% |
| 3 | Financials | 18.56% |
| 4 | Materials | 10.97% |
| 5 | Industrials | 7.25% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Cleveland-Cliffs
CLF
$6.4B
| $26.3M | 1.42% |
1,977,700
+200,000
| +11% | +$2.53M |
|
27
Lam Research
LRCX
$369B
| $26M | 1.41% |
+151,900
| New | +$23.6M |
|
|
QXO
28
QXO Inc
QXO
$14.6B
| $26M | 1.41% |
1,346,538
-488,800
| -27% | -$9.37M |
|
|
ORBS
29
Eightco Holdings
ORBS
$255M
| $25.7M | 1.39% |
14,869,791
+486,229
| +3% | +$2.28M |
|
30
Applovin
APP
$136B
| $25.1M | 1.36% |
37,240
+6,900
| +23% | +$4.35M |
|
31
Credicorp
BAP
$31.4B
| $23.7M | 1.28% |
82,500
+20,200
| +32% | +$5.35M |
|
32
Lumentum
LITE
$60.7B
| $23M | 1.24% |
+62,400
| New | +$16M |
|
33
Armstrong World Industries
AWI
$7.58B
| $22.5M | 1.22% |
+118,000
| New | +$22.5M |
|
34
The GEO Group
GEO
$4.19B
| $21.1M | 1.14% |
1,311,900
-46,100
| -3% | -$769K |
|
35
Churchill Downs
CHDN
$5.82B
| $19.2M | 1.04% |
+168,900
| New | +$17.5M |
|
|
ECHO
36
EchoStar
ECHO
$24.9B
| $18.8M | 1.02% |
173,000
+54,100
| +46% | +$4.41M |
|
|
GDLC
37
Grayscale CoinDesk Crypto 5 ETF
GDLC
$354M
| $17.5M | 0.95% |
423,129
-1,387,135
| -77% | -$66.5M |
|
|
FISV
38
Fiserv Inc
FISV
$29B
| $17.4M | 0.94% |
259,100
+159,907
| +161% | +$13.4M |
|
39
Boeing
BA
$185B
| $16.7M | 0.9% |
+77,000
| New | +$15.8M |
|
40
Pinterest
PINS
$13.5B
| $16.1M | 0.87% |
621,200
+266,700
| +75% | +$7.68M |
|
41
Adobe
ADBE
$99.9B
| $13.3M | 0.72% |
+37,900
| New | +$12.9M |
|
|
STUB
42
StubHub Holdings
STUB
$3.37B
| $13M | 0.7% |
960,507
+367,407
| +62% | +$5.78M |
|
|
HTZWW
43
Hertz Global Holdings Warrants
HTZWW
$64.3M
| $12.5M | 0.68% |
4,675,405
| – | – |
|
44
United Airlines
UAL
$41.7B
| $11.7M | 0.64% |
+105,000
| New | +$10.6M |
|
45
ACM Research
ACMR
$5.43B
| $11.7M | 0.63% |
296,200
+229,600
| +345% | +$8.56M |
|
46
Solventum
SOLV
$15.3B
| $11.7M | 0.63% |
147,300
+67,100
| +84% | +$5.14M |
|
47
Delta Air Lines
DAL
$60.2B
| $11.6M | 0.63% |
+167,000
| New | +$10.4M |
|
48
Establishment Labs
ESTA
$2.73B
| $11.3M | 0.61% |
155,275
| – | – |
|
49
Datadog
DDOG
$97.4B
| $11.3M | 0.61% |
83,200
-27,800
| -25% | -$4.39M |
|
50
McDonald's
MCD
$188B
| $11.2M | 0.61% |
+36,800
| New | +$11.3M |
|
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Discovery Capital Management's Q4 2025 Portfolio in Review
As of Q4 2025, Discovery Capital Management held 121 positions worth $1.85B, up 1.3% from $1.82B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Discovery Capital Management deployed $219M of net new capital in Q4 2025, opening 35 new positions and adding to 27 existing holdings. Its largest new stake was Amkor Technology: 2,614,934 shares worth $103M.
By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 9.7% a quarter earlier, followed by Communication Services and Financials.
On the sell side, the largest reduction was Grayscale CoinDesk Crypto 5 ETF, an estimated $66.5M trimmed.
- Discovery Capital Management's largest Q4 2025 buy was Amkor Technology: 2,614,934 shares worth $103M.
- Discovery Capital Management added most to VNET Group in Q4 2025, an estimated $43.6M increase.
- Discovery Capital Management's biggest Q4 2025 reduction was Grayscale CoinDesk Crypto 5 ETF, cutting an estimated $66.5M.
- Discovery Capital Management fully exited Vista Energy in Q4 2025, selling an estimated $40.7M.
- Discovery Capital Management's ten largest holdings make up 40% of its $1.85B portfolio in Q4 2025.
- Discovery Capital Management opened 35 new positions and closed 33 in Q4 2025.
- Discovery Capital Management's portfolio value rose 1.3% quarter-over-quarter to $1.85B.
Based on Discovery Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.