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← Discovery Capital Management LLC, its record

Discovery Capital Management LLC and Baillie Gifford & Co: where the books meet

At Q2 2026, 9.6% of the two 13F books was the same, across 25 stocks both listed, against 16% at Q2 2013. Overlap is the smaller of each shared stock’s two weights, added up: the part of one book that could be swapped for the other’s without a trade.

Overlap by quarter
0%11%22%Q2 2013: 16%, 14 in bothQ3 2013: 16%, 18 in bothQ4 2013: 22%, 18 in bothQ1 2014: 16%, 18 in both14Q2 2014: 12%, 17 in bothQ3 2014: 11%, 17 in bothQ4 2014: 11%, 14 in bothQ1 2015: 13%, 14 in both15Q2 2015: 13%, 16 in bothQ3 2015: 15%, 19 in bothQ4 2015: 12%, 13 in bothQ1 2016: 18%, 16 in both16Q2 2016: 19%, 11 in bothQ3 2016: 18%, 11 in bothQ4 2016: 13%, 17 in bothQ1 2017: 8.4%, 11 in both17Q2 2017: 9.9%, 10 in bothQ3 2017: 11%, 14 in bothQ4 2017: 10%, 10 in bothQ1 2018: 14%, 12 in both18Q2 2018: 14%, 13 in bothQ3 2018: 11%, 15 in bothQ4 2018: 7.8%, 13 in bothQ1 2019: 9.8%, 8 in both19Q2 2019: 6.9%, 8 in bothQ3 2019: 2.5%, 3 in bothQ4 2019: 8.8%, 5 in bothQ1 2020: 13%, 7 in both20Q2 2020: 6.8%, 11 in bothQ3 2020: 9.9%, 16 in bothQ4 2020: 1.2%, 15 in bothQ1 2021: 3.8%, 11 in both21Q2 2021: 1.7%, 7 in bothQ3 2021: 0.7%, 12 in bothQ4 2021: 5.1%, 13 in bothQ1 2022: 7.1%, 12 in both22Q2 2022: 2.5%, 10 in bothQ3 2022: 1.8%, 7 in bothQ4 2022: 0.4%, 8 in bothQ1 2023: 3.1%, 11 in both23Q2 2023: 11%, 12 in bothQ3 2023: 6.6%, 5 in bothQ4 2023: 1.6%, 6 in bothQ1 2024: 5.3%, 4 in both24Q2 2024: 6.2%, 5 in bothQ3 2024: 12%, 13 in bothQ4 2024: 9.7%, 11 in bothQ1 2025: 2.8%, 8 in both25Q2 2025: 3.4%, 8 in bothQ3 2025: 4.2%, 13 in bothQ4 2025: 5.2%, 13 in bothQ1 2026: 6.8%, 12 in both26Q2 2026: 9.6%, 25 in both
  • Q2 2013: 16%, 14 in both
  • Q3 2013: 16%, 18 in both
  • Q4 2013: 22%, 18 in both
  • Q1 2014: 16%, 18 in both
  • Q2 2014: 12%, 17 in both
  • Q3 2014: 11%, 17 in both
  • Q4 2014: 11%, 14 in both
  • Q1 2015: 13%, 14 in both
  • Q2 2015: 13%, 16 in both
  • Q3 2015: 15%, 19 in both
  • Q4 2015: 12%, 13 in both
  • Q1 2016: 18%, 16 in both
  • Q2 2016: 19%, 11 in both
  • Q3 2016: 18%, 11 in both
  • Q4 2016: 13%, 17 in both
  • Q1 2017: 8.4%, 11 in both
  • Q2 2017: 9.9%, 10 in both
  • Q3 2017: 11%, 14 in both
  • Q4 2017: 10%, 10 in both
  • Q1 2018: 14%, 12 in both
  • Q2 2018: 14%, 13 in both
  • Q3 2018: 11%, 15 in both
  • Q4 2018: 7.8%, 13 in both
  • Q1 2019: 9.8%, 8 in both
  • Q2 2019: 6.9%, 8 in both
  • Q3 2019: 2.5%, 3 in both
  • Q4 2019: 8.8%, 5 in both
  • Q1 2020: 13%, 7 in both
  • Q2 2020: 6.8%, 11 in both
  • Q3 2020: 9.9%, 16 in both
  • Q4 2020: 1.2%, 15 in both
  • Q1 2021: 3.8%, 11 in both
  • Q2 2021: 1.7%, 7 in both
  • Q3 2021: 0.7%, 12 in both
  • Q4 2021: 5.1%, 13 in both
  • Q1 2022: 7.1%, 12 in both
  • Q2 2022: 2.5%, 10 in both
  • Q3 2022: 1.8%, 7 in both
  • Q4 2022: 0.4%, 8 in both
  • Q1 2023: 3.1%, 11 in both
  • Q2 2023: 11%, 12 in both
  • Q3 2023: 6.6%, 5 in both
  • Q4 2023: 1.6%, 6 in both
  • Q1 2024: 5.3%, 4 in both
  • Q2 2024: 6.2%, 5 in both
  • Q3 2024: 12%, 13 in both
  • Q4 2024: 9.7%, 11 in both
  • Q1 2025: 2.8%, 8 in both
  • Q2 2025: 3.4%, 8 in both
  • Q3 2025: 4.2%, 13 in both
  • Q4 2025: 5.2%, 13 in both
  • Q1 2026: 6.8%, 12 in both
  • Q2 2026: 9.6%, 25 in both

Only quarters both managers filed. Where either filing has more positions than are read each quarter, a stock both hold below that range is not counted, so the figure is a floor.

What the overlap is made of, Q2 2026

Stocks both listed, by the smaller of the two weights. A weight is the stock’s share of that manager’s reported book, which says how large the position is, not how strongly it is held.

StockDiscovery Capital Management LLCBaillie Gifford & Co
Nu HLDGS LTD(NU)2.0%Added2.8%Trimmed
Applovin Corp(APP)1.8%Added3.0%Trimmed
Amazon Com Inc(AMZN)1.7%Added5.8%Trimmed
Ferrari N V(RACE)1.3%New1.2%Trimmed
Credicorp LTD(BAP)4.4%Added0.9%Trimmed
Qxo Inc(QXO)0.9%Trimmed0.8%Added
On Semiconductor Corp(ON)0.6%Trimmed0.3%Trimmed
Alphabet Inc(GOOGL)0.2%New0.9%Added
Datadog Inc(DDOG)0.1%New0.3%Trimmed
Cloudflare Inc(NET)0.1%New3.2%Trimmed
Snowflake Inc(SNOW)0.1%New0.6%Trimmed
Reddit(RDDT)0.1%New1.1%Trimmed
Roblox(RBLX)under 0.1%New1.0%Trimmed
Intuit(INTU)0.1%Trimmedunder 0.1%Added
Figma Inc(FIG)0.1%Newunder 0.1%Trimmed
Iren Limited(IREN)0.3%Trimmedunder 0.1%Trimmed
781154109(RBRK)0.1%Newunder 0.1%Added
253868103(DLR)0.2%Newunder 0.1%Trimmed
74340w103(PLD)under 0.1%Newunder 0.1%Trimmed
Micron Technology Inc(MU)under 0.1%Trimmedunder 0.1%New

and 5 smaller ones

Moved different ways in Q2 2026

Stocks one manager started or added to while the other trimmed or sold out, between the same two quarter ends. A 13F shows the quarter ends, never when in between anything was bought or sold, or why.

  • Nvidia Corp(NVDA)Discovery Capital Management LLC sold out; Baillie Gifford & Co added
  • Amazon Com Inc(AMZN)Discovery Capital Management LLC added; Baillie Gifford & Co trimmed
  • Cloudflare Inc(NET)Discovery Capital Management LLC started; Baillie Gifford & Co trimmed
  • Applovin Corp(APP)Discovery Capital Management LLC added; Baillie Gifford & Co trimmed
  • Nu HLDGS LTD(NU)Discovery Capital Management LLC added; Baillie Gifford & Co trimmed
  • Ferrari N V(RACE)Discovery Capital Management LLC started; Baillie Gifford & Co trimmed
  • Reddit(RDDT)Discovery Capital Management LLC started; Baillie Gifford & Co trimmed
  • Roblox(RBLX)Discovery Capital Management LLC started; Baillie Gifford & Co trimmed
  • Credicorp LTD(BAP)Discovery Capital Management LLC added; Baillie Gifford & Co trimmed
  • Qxo Inc(QXO)Discovery Capital Management LLC trimmed; Baillie Gifford & Co added
  • Snowflake Inc(SNOW)Discovery Capital Management LLC started; Baillie Gifford & Co trimmed
  • Medline Inc(MDLN)Discovery Capital Management LLC sold out; Baillie Gifford & Co added
Discovery Capital Management LLC: the recordBaillie Gifford & Co: the record

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