{ "crd_number": 161263, "slug": "discovery-capital-management-llc-south-norwalk-ct-161263", "primary_business_name": "DISCOVERY CAPITAL MANAGEMENT, LLC", "legal_name": "DISCOVERY CAPITAL MANAGEMENT, LLC", "dbas": [], "city": "South Norwalk", "state": "CT", "country": "United States", "cbsa_code": "14860", "metro": { "cbsa_code": "14860", "common_name": "Bridgeport", "msa_name": "Bridgeport-Stamford-Danbury, CT", "path": "/advisors/ct/bridgeport" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2012-03-30", "years_registered": 14, "period": "2026-10-01", "filing_date": "2026-03-31", "carried_forward": false, "raum_total": 6748629715.0, "raum_discretionary": 6748629715.0, "raum_non_discretionary": 0.0, "raum_band": "over_5b", "raum_band_label": "Over $5 billion", "total_employees": 36, "advisory_employees": 20, "client_count_bucket": null, "clients_by_type": { "pooled_investment_vehicles": { "raum": 6748629715.0, "count": 15 } }, "compensation_types": [ "percentage_of_aum", "performance_based" ], "advisory_activities": [ "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 1, "states_registered": [ "CT" ], "websites": [ "https://discoverycapitalmanagement.com" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/161263", "disclosure_items": [ { "item": "11.D(4)", "question": "In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?" } ], "city_as_filed": "SOUTH NORWALK", "url": "https://advisorcensus.com/firm/discovery-capital-management-llc-south-norwalk-ct-161263", "display_name": "Discovery Capital Management, LLC", "summary": "Discovery Capital Management, LLC is an SEC-registered investment advisory firm in South Norwalk, CT, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.", "citation": "AdvisorCensus. Discovery Capital Management, LLC (CRD 161263): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Performance-based fees" ], "advisory_activity_labels": [ "Portfolio management for pooled investment vehicles (other than investment companies)" ], "quick_answers": [ { "q": "How is Discovery Capital Management, LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Discovery Capital Management, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees." }, { "q": "Where is Discovery Capital Management, LLC located?", "a": "Discovery Capital Management, LLC's principal office is in South Norwalk, CT, according to its Form ADV." }, { "q": "Is Discovery Capital Management, LLC registered with the SEC or a state?", "a": "Discovery Capital Management, LLC is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 161263." }, { "q": "How much does Discovery Capital Management, LLC manage?", "a": "Discovery Capital Management, LLC reports $6,748,629,715 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary)." }, { "q": "How have Discovery Capital Management, LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for Discovery Capital Management, LLC: Regulatory assets under management: $3,666,487,015 in the October 2021 data and $6,748,629,715 in the October 2026 data, up 84%. Total employees: 44 in October 2021 and 36 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Discovery Capital Management, LLC serve?", "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (15)." }, { "q": "Does Discovery Capital Management, LLC report any disciplinary disclosures?", "a": "Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.D(4) (another regulator's order in the past ten years). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/161263" }, { "q": "What changed in Discovery Capital Management, LLC's recent Form ADV filings?", "a": "In the April 2026 filing data: Regulatory assets under management went from $4,297,248,915 to $6,748,629,715 (+57%). Employees performing advisory functions went from 19 to 20." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 3666487015.0, "total_employees": 44, "filing_date": "2021-05-20" }, { "period": "2022-10-01", "regulatory_assets_under_management": 3746445165.0, "total_employees": 43, "filing_date": "2022-03-31" }, { "period": "2023-10-01", "regulatory_assets_under_management": 2518273833.0, "total_employees": 35, "filing_date": "2023-03-31" }, { "period": "2024-10-01", "regulatory_assets_under_management": 2551384557.0, "total_employees": 35, "filing_date": "2024-03-28" }, { "period": "2025-10-01", "regulatory_assets_under_management": 4297248915.0, "total_employees": 36, "filing_date": "2025-03-28" }, { "period": "2026-10-01", "regulatory_assets_under_management": 6748629715.0, "total_employees": 36, "filing_date": "2026-03-31" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Regulatory assets under management went from $4,297,248,915 to $6,748,629,715 (+57%).", "Employees performing advisory functions went from 19 to 20." ] } ], "fees_from_brochure": null, "custodians": [], "custodians_note": null, "markdown_url": "https://advisorcensus.com/firm/discovery-capital-management-llc-south-norwalk-ct-161263.md", "clients": [ { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 15, "fewer_than_5": false, "raum": 6748629715.0 } ], "disclosure_line": "Reports 1 disclosure item on Form ADV Item 11.", "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/161263", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }