Discovery Capital Reduces Visa Stake, Starts Position in Target Shares in Q3

Wall St. Watchdog reveals information regarding Discovery Capital Management’s top holdings in the Services sector for the quarter ending September 30th, 2011. The firm held 7 stocks in the Services sector at the end of the quarter with an aggregate market value of $298.565 million.

  • Visa Inc. (NYSE:V): On 06/30/2011, Discovery Capital Management reported holding 2,657,775 shares with a market value of $223,944,127. This comprised 7.48% of the total portfolio. On 09/30/2011, Discovery Capital Management reported holding 1,947,875 shares with a market value of $166,971,847. This comprised 5.74% of the total portfolio. The net change in shares for this position over the two quarters is -709,900. About Company: Visa Inc. operates a retail electronic payments network and manages global financial services. The Company also offers global commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses and government entities.
  • New Oriental Education & Technology Group (NYSE:EDU): On 06/30/2011, Discovery Capital Management reported holding 483,920 shares with a market value of $54,063,543. This comprised 1.81% of the total portfolio. On 09/30/2011, Discovery Capital Management reported holding 2,790,880 shares with a market value of $64,106,512. This comprised 2.2% of the total portfolio. The net change in shares for this position over the two quarters is 2,306,960. About Company: New Oriental Education & Technology Group, Inc. offers educational services. The Company offers foreign language training, test preparation courses for admissions and assessment tests in the United States, the PRC and Commonwealth countries, primary and secondary school education, development and distribution of educational content, software and other technology, and online classes.
  • Tam S.a. (NYSE:TAM): On 06/30/2011, Discovery Capital Management reported holding 1,778,400 shares with a market value of $38,822,472. This comprised 1.3% of the total portfolio. On 09/30/2011, Discovery Capital Management reported holding 2,154,600 shares with a market value of $33,568,668. This comprised 1.15% of the total portfolio. The net change in shares for this position over the two quarters is 376,200. About Company: Tam SA operates in the airline industry. The Company provides passenger, freight and mail transportation services throughout Brazil. Tam provides services between the Brazilian states of Sao Paulo, Minas Gerais, Parana, Mato Grosso do Sul, Rio de Janeiro, Brasilia, Porto Alegre and Salvador.
  • Focus Media Holding Ltd. (NASDAQ:FMCN): On 06/30/2011, Discovery Capital Management reported holding 0 shares. On 09/30/2011, Discovery Capital Management reported holding 970,934 shares with a market value of $16,350,529. This comprised 0.56% of the total portfolio. The net change in shares for this position over the two quarters is 970,934. About Company: Focus Media Holding Limited operates an out-of-home advertising network in China. The Company uses audiovisual television displays which are placed primarily in high-traffic areas of commercial office buildings such as in lobbies and near elevators, as well as in large retail chain stores and other venues.
  • Target Corp. (NYSE:TGT): On 06/30/2011, Discovery Capital Management reported holding 0 shares. On 09/30/2011, Discovery Capital Management reported holding 297,000 shares with a market value of $14,564,880. This comprised 0.5% of the total portfolio. The net change in shares for this position over the two quarters is 297,000. About Company: Target Corporation operates general merchandise discount stores in the United States. The Company’s merchandising operations include general merchandise and food discount stores and a fully integrated online business. Target also offers credit to qualified applicants through its branded proprietary credit cards.
  • Global Education & Technology Group Ltd – American Depositary Shares (NASDAQ:GEDU): On 06/30/2011, Discovery Capital Management reported holding 482,300 shares with a market value of $2,604,420. This comprised 0.09% of the total portfolio. On 09/30/2011, Discovery Capital Management reported holding 482,300 shares with a market value of $2,281,279. This comprised 0.08% of the total portfolio. The net change in shares for this position over the two quarters is 0. About Company: Global Education & Technology Group Ltd. provides educational courses and related services in China with a focus on foreign language training and test preparation. The Company operates learning centers throughout China.
  • Xueda Education (NYSE:XUE): On 06/30/2011, Discovery Capital Management reported holding 264,280 shares with a market value of $2,114,240. This comprised 0.07% of the total portfolio. On 09/30/2011, Discovery Capital Management reported holding 264,280 shares with a market value of $721,484. This comprised 0.02% of the total portfolio. The net change in shares for this position over the two quarters is 0. About Company: Xueda Education Group. provides tutoring services for primary and secondary school students in China with a focus on offering personalized tutoring services. The Company conducts its tutoring business through our variable interest entity, or VIE, and its subsidiaries and schools located in cities throughout China.

(Note: Data regarding Discovery Capital Management’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)

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