Rob Citrone’s Discovery Capital has continued its strong performance in 2025, with the Discovery Global Opportunity fund posting a 4.2% return in July and lifting year-to-date gains to 17.5%, according to a report by Financial News citing unnamed sources.

Last month’s performance was supported by the fund’s equity and currency positions across developed and emerging markets, including long positions in Mexico and short positions in Brazil.

Discovery Capital, which manages over $2.5bn, has delivered a remarkable run in recent years, returning 48% in 2023 and 52% in 2024. Citrone reportedly earned $730m in 2024, surpassing industry heavyweights such as Bill Ackman and Paul Singer.

The fund has capitalised on volatility from tariffs and other macro events, with gains of 6% in April and 7% in May, standing out amid broader struggles in the macro hedge fund space. HFR data shows that macro funds, on average, have fallen 1.3% through July, while peers such as Brevan Howard’s Master Fund recorded a 2.4% loss year-to-date. Rokos Capital Management, however, has seen gains of 13.7% over the same period.