JC
Joho Capital Portfolio holdings
AUM
$460M
Turnover
18.18%
1-Year Est. Return
11.37%
This Fund
S&P 500
This Quarter
Est. Return
-1.41%
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
$653M
AUM Growth
+$59.8M
(+10%)
Cap. Flow
+$77.8M
Cap. Flow
% of AUM
11.91%
Top 10 Holdings %
Top 10 Hldgs %
99.62%
Holding
12
New
2
Increased
3
Reduced
5
Closed
–
Avg Time Held
1.6
years
Top 10 Avg Time Held
1.7
years
Top 20 Avg Time Held
1.6
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
FTCH
Farfetch Limited Class A Ordinary Shares
FTCH
|
+$56.4M |
| 2 |
Microsoft
MSFT
|
+$47.6M |
| 3 |
Global Payments
GPN
|
+$30.8M |
| 4 |
Alibaba
BABA
|
+$811K |
| 5 |
The RealReal
REAL
|
+$578K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cognex
CGNX
|
+$31.1M |
| 2 |
Hexcel
HXL
|
+$14.9M |
| 3 |
Floor & Decor
FND
|
+$11.5M |
| 4 |
Estee Lauder
EL
|
+$700K |
| 5 |
Four Seasons Education Depositary Shares Rep 10 Ordinary Shares
FEDU
|
+$207K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 44.51% |
| 2 | Technology | 25.36% |
| 3 | Industrials | 24.36% |
| 4 | Communication Services | 4.93% |
| 5 | Consumer Staples | 0.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Floor & Decor
FND
$4.71B
| $164M | 25.14% |
3,917,428
-275,459
| -7% | -$11.5M |
2018 Q1
5 quarters
|
|
|
2
Alibaba
BABA
$277B
| $124M | 19% |
732,321
+4,700
| +0.6% | +$811K |
2015 Q2
16 quarters
|
|
|
FTCH
3
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
| $108M | 16.58% |
5,206,224
+2,438,376
| +88% | +$56.4M |
2018 Q4
2 quarters
|
|
|
4
Microsoft
MSFT
$3.96T
| $105M | 16.06% |
783,000
+375,000
| +92% | +$47.6M |
2019 Q1
1 quarter
|
|
|
5
Cognex
CGNX
$9.63B
| $60.7M | 9.3% |
1,265,121
-646,620
| -34% | -$31.1M |
2015 Q3
15 quarters
|
|
|
6
Global Payments
GPN
$21.4B
| $33.1M | 5.08% |
+207,000
| New | +$30.8M |
2019 Q2
0 quarters
|
|
7
Spotify
SPOT
$108B
| $32.2M | 4.93% |
220,000
| – | – |
2019 Q1
1 quarter
|
|
|
8
Hexcel
HXL
$6.64B
| $17.6M | 2.7% |
218,053
-205,000
| -48% | -$14.9M |
2013 Q2
24 quarters
|
|
|
9
Four Seasons Education Depositary Shares Rep 10 Ordinary Shares
FEDU
$25.9M
| $3.24M | 0.5% |
90,075
-4,932
| -5% | -$207K |
2018 Q1
5 quarters
|
|
|
10
Estee Lauder
EL
$36.8B
| $2.26M | 0.35% |
12,362
-4,100
| -25% | -$700K |
2018 Q1
5 quarters
|
|
11
TJX Companies
TJX
$157B
| $1.88M | 0.29% |
35,614
| – | – |
2019 Q1
1 quarter
|
|
|
12
The RealReal
REAL
$1.11B
| $578K | 0.09% |
+20,000
| New | +$578K |
2019 Q2
0 quarters
|
|
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Joho Capital's Q2 2019 Portfolio in Review
As of Q2 2019, Joho Capital held 12 positions worth $653M, up 10% from $593M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Joho Capital deployed $77.8M of net new capital in Q2 2019, opening 2 new positions and adding to 3 existing holdings. Its largest new stake was Global Payments: 207,000 shares worth $33.1M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 45% of assets, down from 52% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was Cognex, an estimated $31.1M trimmed.
- Joho Capital's largest Q2 2019 buy was Global Payments: 207,000 shares worth $33.1M.
- Joho Capital added most to Farfetch Limited Class A Ordinary Shares in Q2 2019, an estimated $56.4M increase.
- Joho Capital's biggest Q2 2019 reduction was Cognex, cutting an estimated $31.1M.
- Joho Capital's ten largest holdings make up 100% of its $653M portfolio in Q2 2019.
- Joho Capital opened 2 new positions and closed 0 in Q2 2019.
- Joho Capital's portfolio value rose 10% quarter-over-quarter to $653M.
Based on Joho Capital's 13F filing for Q2 2019, filed 14 Aug 2019.