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← Discovery Capital Management LLC, its record

Discovery Capital Management LLC and MFS Investment Management: where the books meet

At Q2 2026, at least 7.1% of the two 13F books was the same, across 33 stocks both listed, against 12% 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%8%15%Q2 2013: 12%, 37 in bothQ3 2013: 14%, 38 in bothQ4 2013: 15%, 55 in bothQ1 2014: 13%, 52 in both14Q2 2014: 10%, 45 in bothQ3 2014: 7.2%, 27 in bothQ4 2014: 8.8%, 31 in bothQ1 2015: 6.8%, 30 in both15Q2 2015: 6.7%, 25 in bothQ3 2015: 9.6%, 36 in bothQ4 2015: 6.4%, 27 in bothQ1 2016: 4.4%, 23 in both16Q2 2016: 4.5%, 17 in bothQ3 2016: 6.2%, 23 in bothQ4 2016: 9.0%, 31 in bothQ1 2017: 7.4%, 23 in both17Q2 2017: 6.2%, 12 in bothQ3 2017: 5.9%, 18 in bothQ4 2017: 4.7%, 12 in bothQ1 2018: 4.1%, 11 in both18Q2 2018: 4.8%, 13 in bothQ3 2018: 4.5%, 16 in bothQ4 2018: 4.8%, 12 in bothQ1 2019: 3.6%, 6 in both19Q2 2019: 3.2%, 5 in bothQ3 2019: 1.3%, 3 in bothQ4 2019: 1.4%, 5 in bothQ1 2020: 7.0%, 10 in both20Q2 2020: 8.0%, 19 in bothQ3 2020: 7.1%, 21 in bothQ4 2020: 3.1%, 14 in bothQ1 2021: 7.2%, 17 in both21Q2 2021: 5.1%, 13 in bothQ3 2021: 3.6%, 13 in bothQ4 2021: 4.9%, 14 in bothQ1 2022: 5.1%, 13 in both22Q2 2022: 3.8%, 9 in bothQ3 2022: 0.7%, 5 in bothQ4 2022: 0.3%, 3 in bothQ1 2023: 4.7%, 10 in both23Q2 2023: 6.5%, 15 in bothQ3 2023: 5.3%, 8 in bothQ4 2023: 0.5%, 4 in bothQ1 2024: 1.9%, 7 in both24Q2 2024: 5.0%, 10 in bothQ3 2024: 6.0%, 16 in bothQ4 2024: 10%, 25 in bothQ1 2025: 3.1%, 10 in both25Q2 2025: 4.4%, 15 in bothQ3 2025: 6.2%, 20 in bothQ4 2025: 7.3%, 24 in bothQ1 2026: 5.9%, 18 in both26Q2 2026: 7.1%, 33 in both
  • Q2 2013: 12%, 37 in both
  • Q3 2013: 14%, 38 in both
  • Q4 2013: 15%, 55 in both
  • Q1 2014: 13%, 52 in both
  • Q2 2014: 10%, 45 in both
  • Q3 2014: 7.2%, 27 in both
  • Q4 2014: 8.8%, 31 in both
  • Q1 2015: 6.8%, 30 in both
  • Q2 2015: 6.7%, 25 in both
  • Q3 2015: 9.6%, 36 in both
  • Q4 2015: 6.4%, 27 in both
  • Q1 2016: 4.4%, 23 in both
  • Q2 2016: 4.5%, 17 in both
  • Q3 2016: 6.2%, 23 in both
  • Q4 2016: 9.0%, 31 in both
  • Q1 2017: 7.4%, 23 in both
  • Q2 2017: 6.2%, 12 in both
  • Q3 2017: 5.9%, 18 in both
  • Q4 2017: 4.7%, 12 in both
  • Q1 2018: 4.1%, 11 in both
  • Q2 2018: 4.8%, 13 in both
  • Q3 2018: 4.5%, 16 in both
  • Q4 2018: 4.8%, 12 in both
  • Q1 2019: 3.6%, 6 in both
  • Q2 2019: 3.2%, 5 in both
  • Q3 2019: 1.3%, 3 in both
  • Q4 2019: 1.4%, 5 in both
  • Q1 2020: 7.0%, 10 in both
  • Q2 2020: 8.0%, 19 in both
  • Q3 2020: 7.1%, 21 in both
  • Q4 2020: 3.1%, 14 in both
  • Q1 2021: 7.2%, 17 in both
  • Q2 2021: 5.1%, 13 in both
  • Q3 2021: 3.6%, 13 in both
  • Q4 2021: 4.9%, 14 in both
  • Q1 2022: 5.1%, 13 in both
  • Q2 2022: 3.8%, 9 in both
  • Q3 2022: 0.7%, 5 in both
  • Q4 2022: 0.3%, 3 in both
  • Q1 2023: 4.7%, 10 in both
  • Q2 2023: 6.5%, 15 in both
  • Q3 2023: 5.3%, 8 in both
  • Q4 2023: 0.5%, 4 in both
  • Q1 2024: 1.9%, 7 in both
  • Q2 2024: 5.0%, 10 in both
  • Q3 2024: 6.0%, 16 in both
  • Q4 2024: 10%, 25 in both
  • Q1 2025: 3.1%, 10 in both
  • Q2 2025: 4.4%, 15 in both
  • Q3 2025: 6.2%, 20 in both
  • Q4 2025: 7.3%, 24 in both
  • Q1 2026: 5.9%, 18 in both
  • Q2 2026: 7.1%, 33 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 LLCMFS Investment Management
Amazon Com Inc(AMZN)1.7%Added2.8%Added
JPMorgan Chase & Co(JPM)2.1%Trimmed1.3%Trimmed
Agnico Eagle Mines LTD(AEM)0.5%Added0.6%Added
Chevron Corp New(CVX)2.4%New0.3%Trimmed
Credicorp LTD(BAP)4.4%Added0.3%Trimmed
Take-two Interactive Softwar(TTWO)1.2%New0.3%Trimmed
Goldman Sachs Group Inc(GS)1.1%New0.2%Trimmed
Chubb Limited(CB)0.2%New0.6%Trimmed
Advanced Micro Devices Inc(AMD)0.2%New0.4%Added
SanDisk Corp(SNDK)20%Added0.2%Added
Salesforce Com Inc(CRM)0.5%Added0.2%Trimmed
Valero Energy Corp New(VLO)1.3%Added0.2%Trimmed
Alphabet Inc(GOOGL)0.2%New3.3%Added
55405y100(MTSI)0.4%New0.1%Added
LPL Finl HLDGS Inc(LPLA)1.1%New0.1%Trimmed
Datadog Inc(DDOG)0.1%New0.1%Added
18915m107(NET)0.1%New0.1%Added
Snowflake Inc(SNOW)0.1%New0.2%Added
Arista Networks Inc(ANET)under 0.1%New0.5%Added
Lam Research Corp(LRCX)under 0.1%Trimmed0.2%Trimmed

and 13 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.

  • Chubb Limited(CB)Discovery Capital Management LLC started; MFS Investment Management trimmed
  • Micron Technology Inc(MU)Discovery Capital Management LLC trimmed; MFS Investment Management added
  • Prologis Inc(PLD)Discovery Capital Management LLC started; MFS Investment Management trimmed
  • Chevron Corp New(CVX)Discovery Capital Management LLC started; MFS Investment Management trimmed
  • Credicorp LTD(BAP)Discovery Capital Management LLC added; MFS Investment Management trimmed
  • Take-two Interactive Softwar(TTWO)Discovery Capital Management LLC started; MFS Investment Management trimmed
  • Medline Inc(MDLN)Discovery Capital Management LLC sold out; MFS Investment Management added
  • Goldman Sachs Group Inc(GS)Discovery Capital Management LLC started; MFS Investment Management trimmed
  • Salesforce Com Inc(CRM)Discovery Capital Management LLC added; MFS Investment Management trimmed
  • Ross Stores Inc(ROST)Discovery Capital Management LLC sold out; MFS Investment Management added
  • Valero Energy Corp New(VLO)Discovery Capital Management LLC added; MFS Investment Management trimmed
  • LPL Finl HLDGS Inc(LPLA)Discovery Capital Management LLC started; MFS Investment Management trimmed
Discovery Capital Management LLC: the recordMFS Investment Management: the record

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