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← Discovery Capital Management LLC, its record

Discovery Capital Management LLC and Holocene Advisors LP: where the books meet

At Q2 2026, at least 7.9% of the two 13F books was the same, across 40 stocks both listed, against 5.6% at Q4 2017. 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%5%11%Q4 2017: 5.6%, 12 in bothQ1 2018: 5.9%, 10 in both18Q2 2018: 8.3%, 11 in bothQ3 2018: 5.8%, 14 in bothQ4 2018: 3.4%, 6 in bothQ1 2019: 4.5%, 4 in both19Q2 2019: 2.6%, 4 in bothQ3 2019: 0.8%, 3 in bothQ4 2019: 1.1%, 2 in bothQ1 2020: 11%, 10 in both20Q2 2020: 7.5%, 18 in bothQ3 2020: 10%, 18 in bothQ4 2020: 3.1%, 17 in bothQ1 2021: 5.8%, 13 in both21Q2 2021: 2.7%, 9 in bothQ3 2021: 2.8%, 12 in bothQ4 2021: 3.8%, 13 in bothQ1 2022: 4.8%, 12 in both22Q2 2022: 3.6%, 14 in bothQ3 2022: 2.2%, 10 in bothQ4 2022: 1.2%, 4 in bothQ1 2023: 4.3%, 11 in both23Q2 2023: 7.2%, 14 in bothQ3 2023: 2.1%, 4 in bothQ4 2023: 0.8%, 4 in bothQ1 2024: 2.6%, 8 in both24Q2 2024: 4.9%, 6 in bothQ3 2024: 3.2%, 10 in bothQ4 2024: 9.7%, 22 in bothQ1 2025: 2.9%, 12 in both25Q2 2025: 3.1%, 18 in bothQ3 2025: 4.2%, 19 in bothQ4 2025: 6.1%, 26 in bothQ1 2026: 4.3%, 21 in both26Q2 2026: 7.9%, 40 in both
  • Q4 2017: 5.6%, 12 in both
  • Q1 2018: 5.9%, 10 in both
  • Q2 2018: 8.3%, 11 in both
  • Q3 2018: 5.8%, 14 in both
  • Q4 2018: 3.4%, 6 in both
  • Q1 2019: 4.5%, 4 in both
  • Q2 2019: 2.6%, 4 in both
  • Q3 2019: 0.8%, 3 in both
  • Q4 2019: 1.1%, 2 in both
  • Q1 2020: 11%, 10 in both
  • Q2 2020: 7.5%, 18 in both
  • Q3 2020: 10%, 18 in both
  • Q4 2020: 3.1%, 17 in both
  • Q1 2021: 5.8%, 13 in both
  • Q2 2021: 2.7%, 9 in both
  • Q3 2021: 2.8%, 12 in both
  • Q4 2021: 3.8%, 13 in both
  • Q1 2022: 4.8%, 12 in both
  • Q2 2022: 3.6%, 14 in both
  • Q3 2022: 2.2%, 10 in both
  • Q4 2022: 1.2%, 4 in both
  • Q1 2023: 4.3%, 11 in both
  • Q2 2023: 7.2%, 14 in both
  • Q3 2023: 2.1%, 4 in both
  • Q4 2023: 0.8%, 4 in both
  • Q1 2024: 2.6%, 8 in both
  • Q2 2024: 4.9%, 6 in both
  • Q3 2024: 3.2%, 10 in both
  • Q4 2024: 9.7%, 22 in both
  • Q1 2025: 2.9%, 12 in both
  • Q2 2025: 3.1%, 18 in both
  • Q3 2025: 4.2%, 19 in both
  • Q4 2025: 6.1%, 26 in both
  • Q1 2026: 4.3%, 21 in both
  • Q2 2026: 7.9%, 40 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 LLCHolocene Advisors LP
Amazon Com Inc(AMZN)1.7%Added7.5%Added
Chevron Corp New(CVX)2.4%New0.8%Added
Capital One Finl Corp(COF)1.4%Trimmed0.6%Added
Goldman Sachs Group Inc(GS)1.1%New0.5%New
SanDisk Corp(SNDK)20%Added0.4%Trimmed
LPL Finl HLDGS Inc(LPLA)1.1%New0.3%Added
Valero Energy Corp New(VLO)1.3%Added0.3%New
On Semiconductor Corp(ON)0.6%Trimmed0.2%New
Nu HLDGS LTD(NU)2.0%Added0.2%Added
H1467j104(CB)0.2%New0.3%Trimmed
Advanced Micro Devices Inc(AMD)0.2%New1.6%Added
Halliburton Co(HAL)0.4%New0.2%Trimmed
Pinterest Inc(PINS)0.6%Trimmed0.2%Added
Alphabet Inc(GOOGL)0.2%New0.7%Trimmed
Datadog Inc(DDOG)0.1%New0.2%New
Marvell Technology Inc(MRVL)0.1%New0.2%New
Palo Alto Networks Inc(PANW)0.1%New0.2%Trimmed
Iren Limited(IREN)0.3%Trimmed0.1%New
Lilly Eli & Co(LLY)0.1%New0.5%Trimmed
Nextracker Inc(NXT)0.6%New0.1%New

and 20 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.

  • iShares Trust(SOXX)Discovery Capital Management LLC sold out; Holocene Advisors LP started
  • SanDisk Corp(SNDK)Discovery Capital Management LLC added; Holocene Advisors LP trimmed
  • Alphabet Inc(GOOGL)Discovery Capital Management LLC started; Holocene Advisors LP trimmed
  • Capital One Finl Corp(COF)Discovery Capital Management LLC trimmed; Holocene Advisors LP added
  • Lilly Eli & Co(LLY)Discovery Capital Management LLC started; Holocene Advisors LP trimmed
  • H1467j104(CB)Discovery Capital Management LLC started; Holocene Advisors LP trimmed
  • Lam Research Corp(LRCX)Discovery Capital Management LLC trimmed; Holocene Advisors LP added
  • Qualcomm Inc(QCOM)Discovery Capital Management LLC started; Holocene Advisors LP sold out
  • Vertiv Holdings Co(VRT)Discovery Capital Management LLC started; Holocene Advisors LP trimmed
  • Palo Alto Networks Inc(PANW)Discovery Capital Management LLC started; Holocene Advisors LP trimmed
  • On Semiconductor Corp(ON)Discovery Capital Management LLC trimmed; Holocene Advisors LP started
  • Compass Inc(COMP)Discovery Capital Management LLC added; Holocene Advisors LP trimmed
Discovery Capital Management LLC: the recordHolocene Advisors LP: the record

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