DISCOVERY CAPITAL MANAGEMENT, LLC / CT
DISCOVERY CAPITAL MANAGEMENT, LLC / CT declares $638.2M in 27 of the 220 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 26.5% of its $2.4B 13F portfolio. Largest positions: Sandisk (0.14% of the company) and Amazon (0.00% of the company). Over time: $638.2M in 27 of these companies for Q2 2026, against $39.5M in 2 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $131.7M and sold $715.3M of these stocks, at the quarter's prices: a net sale of $583.7M; 18 new positions and 3 sold out.
Performance of its AI picks
The AI-stock portfolio DISCOVERY CAPITAL MANAGEMENT, LLC / CT declared for Q2 2026 (Form 13F), held unchanged, returned -19.2% in Q3 2026 (SMH -7.1%). Over the last 12 months, quarter after quarter: +82.3% (SMH +87.2%). Over three years, quarter after quarter: +1193.7% (SMH +325.8%). Over five years, quarter after quarter: +1217.2% (SMH +389.8%). Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.
Largest positions
- Sandisk (SNDK) — $472.0M: 207,587 shares, 0.14% of the company, 19.6% of its portfolio (added this quarter); held since Q1 2026
- Amazon (AMZN) — $42.1M: 176,435 shares, 0.00% of the company, 1.7% of its portfolio (added this quarter); held since Q4 2025
- Wolfspeed (WOLF) — $26.5M: 548,375 shares, 1.0% of the company, 1.1% of its portfolio (added this quarter); held since Q1 2026
- onsemi (ON) — $15.3M: 162,300 shares, 0.04% of the company, 0.64% of its portfolio (trimmed this quarter); held since Q1 2026
- Salesforce (CRM) — $11.3M: 71,900 shares, 0.01% of the company, 0.47% of its portfolio (added this quarter); held since Q1 2026
- MACOM (MTSI) — $10.2M: 26,900 shares, 0.04% of the company, 0.42% of its portfolio (new position this quarter)
- IREN (IREN) — $8.3M: 181,200 shares, 0.05% of the company, 0.34% of its portfolio (trimmed this quarter); held since Q4 2024
- AMD (AMD) — $4.5M: 7,817 shares, 0.00% of the company, 0.19% of its portfolio (new position this quarter)
- Digital Realty (DLR) — $4.2M: 23,500 shares, 0.01% of the company, 0.18% of its portfolio (new position this quarter)
- Alphabet (GOOGL) — $3.6M: 10,209 shares, 0.00% of the company, 0.15% of its portfolio (new position this quarter)
- Intuit (INTU) — $3.6M: 13,800 shares, 0.01% of the company, 0.15% of its portfolio (trimmed this quarter); held since Q1 2026
- Datadog (DDOG) — $3.6M: 13,680 shares, 0.00% of the company, 0.15% of its portfolio (new position this quarter)
- Marvell (MRVL) — $3.5M: 11,796 shares, 0.00% of the company, 0.15% of its portfolio (new position this quarter)
- Palo Alto Networks (PANW) — $3.5M: 10,174 shares, 0.00% of the company, 0.14% of its portfolio (new position this quarter)
- Hut 8 (HUT) — $2.8M: 23,900 shares, 0.02% of the company, 0.11% of its portfolio (new position this quarter)
By sector
- Memory & storage — $473.7M, 74% of its AI holdings, 2 companies
- Chips & compute — $51.4M, 8% of its AI holdings, 5 companies
- Cloud & AI giants — $45.7M, 7% of its AI holdings, 2 companies
- AI software — $27.1M, 4% of its AI holdings, 6 companies
- Neoclouds & data centers — $18.6M, 3% of its AI holdings, 5 companies
- Interconnect — $13.6M, 2% of its AI holdings, 3 companies
- Optics — $3.5M, 1% of its AI holdings, 2 companies
- Power, electrical & cooling — $2.5M, 0% of its AI holdings, 1 company
- Equipment & test — $2.0M, 0% of its AI holdings, 1 company
Biggest changes this quarter
- trimmed Micron (MU): -$316.9M at the quarter's price
- trimmed Lam Research (LRCX): -$127.2M at the quarter's price
- trimmed onsemi (ON): -$117.9M at the quarter's price
- trimmed IREN (IREN): -$75.6M at the quarter's price
- added to Sandisk (SNDK): +$54.3M at the quarter's price
- sold out of VNET Group (VNET): -$50.4M at the quarter's price
- sold out of Teradyne (TER): -$15.4M at the quarter's price
- added to Amazon (AMZN): +$12.4M at the quarter's price
- opened a position in MACOM (MTSI): +$10.2M at the quarter's price
- sold out of NVIDIA (NVDA): -$10.0M at the quarter's price
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