Discovery Capital Management Q2 2026 Portfolio Activity: Significant Buys & Sales Observed

As reported in filings by Discovery Capital Management, Llc / Ct, the portfolio underwent notable changes during the second quarter of 2026 (Q2). The total portfolio value remained substantial at approximately $2.27 billion.

Recent Acquisitions and New Positions

This period saw Discovery Capital Management establish new positions or significantly increase holdings in several companies, indicating strategic interest:

• Credicorp Ltd (BAP) experienced a massive 93.22% jump in shares and its value within the portfolio.
• The investor simultaneously initiated or significantly increased their stake in JBS N.V (N4732M103), evidenced by a 61.54% increase in shares.
• Additionally, Discovery Capital Management showed strong interest in Nu Hldgs Ltd (G6683N103), acquiring shares representing a 60.03% increase.

Significant Purchases: AMC, FREY, CVX

Beyond the new positions, there were substantial increases in existing holdings:

• Amc Entmt Hldgs Inc (AMC) saw its entire position rebuilt from scratch this quarter.
• The investor also fully replaced their holding in T1 Energy Inc (FREY), acquiring all shares previously held.
• Furthermore, Discovery Capital Management completely replenished its stake in Chevron Corporation (CVX).

Sales and Reductions Observed

Conversely, the portfolio also reflected reductions or exits from certain positions:

• The investment in On Semiconductor Corp (ON) was drastically reduced by approximately 89%.
• Echostar Corp (SATS)'s position saw an almost identical reduction, with nearly all shares sold off (-88.16%).
• There was also a significant decrease of about 10% in the holdings of America Movil Sab de Cv (AMX).

The overall portfolio allocation shows shifts, with certain sectors like "Unknown" and "Financial Services" potentially gaining prominence due to these changes.