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JC
Joho Capital Portfolio holdings
AUM
$460M
1-Year Est. Return
11.37%
This Fund
S&P 500
This Quarter
Est. Return
+8.49%
1 Year Est. Return
+11.37%
3 Year Est. Return
+80.2%
5 Year Est. Return
+106.67%
10 Year Est. Return
+594.64%
AUM
$626M
AUM Growth
-$836M
(-57%)
Cap. Flow
-$903M
Cap. Flow
% of AUM
-144.25%
Top 10 Holdings %
Top 10 Hldgs %
96.14%
Holding
18
New
–
Increased
–
Reduced
11
Closed
7
Top Buys
No buys this quarter
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$164M |
| 2 |
Yelp
YELP
|
+$111M |
| 3 |
MJN
Mead Johnson Nutrition Company
MJN
|
+$105M |
| 4 |
Baidu
BIDU
|
+$96.4M |
| 5 |
Estee Lauder
EL
|
+$78.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 50.76% |
| 2 | Technology | 22.22% |
| 3 | Consumer Staples | 15.36% |
| 4 | Consumer Discretionary | 7.81% |
| 5 | Industrials | 3.86% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Baidu
BIDU
$35.2B
| $139M | 22.21% |
912,406
-576,144
| -39% | -$96.4M |
|
|
2
Alphabet (Google) Class C
GOOG
$4.2T
| $93.7M | 14.97% |
3,375,124
-5,635,885
| -63% | -$164M |
|
3
Veeco
VECO
$3.2B
| $64.2M | 10.26% |
1,531,251
-1,004,682
| -40% | -$38.8M |
|
4
TAL Education Group
TAL
$6.46B
| $58.6M | 9.36% |
15,616,242
-723,780
| -4% | -$2.86M |
|
5
Vipshop
VIPS
$6.81B
| $48.9M | 7.81% |
3,272,000
-4,383,000
| -57% | -$52.1M |
|
|
VNET
6
VNET Group
VNET
$2.16B
| $48.3M | 7.72% |
1,683,217
-632,565
| -27% | -$15.8M |
|
|
7
Yelp
YELP
$1.34B
| $47.4M | 7.58% |
616,329
-1,317,479
| -68% | -$111M |
|
|
WUBA
8
DELISTED
58.com Inc
WUBA
| $37.5M | 6% |
901,828
-18,172
| -2% | -$767K |
|
|
MJN
9
DELISTED
Mead Johnson Nutrition Company
MJN
| $37.5M | 5.99% |
451,270
-1,300,630
| -74% | -$105M |
|
|
YOKU
10
DELISTED
YOUKU TUDOU INC.(CAYMAN ISLS)
YOKU
| $26.6M | 4.24% |
947,383
-1,605,000
| -63% | -$49.9M |
|
11
Hexcel
HXL
$7.87B
| $24.1M | 3.86% |
554,506
-821,101
| -60% | -$35.8M |
|
|
12
Estee Lauder
EL
$31.2B
| – | – |
-1,043,453
| Closed | -$78.6M |
|
13
Micron Technology
MU
$1.1T
| – | – |
-2,361,697
| Closed | -$51.4M |
|
14
Starbucks
SBUX
$123B
| – | – |
-620,700
| Closed | -$24.3M |
|
15
TripAdvisor
TRIP
$1.26B
| – | – |
-325,000
| Closed | -$26.9M |
|
|
VAR
16
DELISTED
Varian Medical Systems, Inc.
VAR
| – | – |
-347,816
| Closed | -$23.7M |
|
|
MR
17
DELISTED
MINDRAY MED INTL LTD SPONSORED ADR REPSTG CL A
MR
| – | – |
-656,715
| Closed | -$23.9M |
|
|
QUNR
18
DELISTED
Qunar Cayman Islands Limited
QUNR
| – | – |
-25,000
| Closed | -$663K |
|
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Joho Capital's Q1 2014 Portfolio in Review
As of Q1 2014, Joho Capital held 18 positions worth $626M, down 57% from $1.46B the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Joho Capital withdrew a net $903M in Q1 2014, closing 7 positions and reducing 11 holdings. Its most notable exit was Estee Lauder, an estimated $78.6M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 51% of assets, up from 47% a quarter earlier, followed by Technology and Consumer Staples.
- Joho Capital's biggest Q1 2014 reduction was Alphabet (Google) Class C, cutting an estimated $164M.
- Joho Capital fully exited Estee Lauder in Q1 2014, selling an estimated $78.6M.
- Joho Capital's ten largest holdings make up 96% of its $626M portfolio in Q1 2014.
- Joho Capital opened 0 new positions and closed 7 in Q1 2014.
- Joho Capital's portfolio value fell 57% quarter-over-quarter to $626M.
Based on Joho Capital's 13F filing for Q1 2014, filed 15 May 2014.