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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
+5.71%
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
$566M
AUM Growth
-$86.8M
(-13%)
Cap. Flow
-$73.3M
Cap. Flow
% of AUM
-12.95%
Top 10 Holdings %
Top 10 Hldgs %
99.86%
Holding
13
New
1
Increased
3
Reduced
7
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Global Payments
GPN
|
+$66.4M |
| 2 |
LTHM
Livent Corporation
LTHM
|
+$16.6M |
| 3 |
Microsoft
MSFT
|
+$15.1M |
| 4 |
The RealReal
REAL
|
+$330K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FTCH
Farfetch Limited Class A Ordinary Shares
FTCH
|
+$60.1M |
| 2 |
Cognex
CGNX
|
+$52.2M |
| 3 |
Floor & Decor
FND
|
+$21.2M |
| 4 |
Hexcel
HXL
|
+$17.6M |
| 5 |
Spotify
SPOT
|
+$10.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 51.6% |
| 2 | Technology | 22.86% |
| 3 | Industrials | 18.79% |
| 4 | Materials | 2.92% |
| 5 | Communication Services | 2.88% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Floor & Decor
FND
$6.24B
| $176M | 31.12% |
3,445,134
-472,294
| -12% | -$21.2M |
|
|
2
Microsoft
MSFT
$3.68T
| $124M | 21.93% |
893,000
+110,000
| +14% | +$15.1M |
|
3
Alibaba
BABA
$297B
| $115M | 20.33% |
688,471
-43,850
| -6% | -$7.54M |
|
|
4
Global Payments
GPN
$24.6B
| $97.6M | 17.24% |
614,000
+407,000
| +197% | +$66.4M |
|
|
LTHM
5
DELISTED
Livent Corporation
LTHM
| $16.6M | 2.92% |
+2,473,989
| New | +$16.6M |
|
|
6
Spotify
SPOT
$105B
| $16.3M | 2.88% |
143,217
-76,783
| -35% | -$10.8M |
|
|
FTCH
7
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
| $8.78M | 1.55% |
1,016,507
-4,189,717
| -80% | -$60.1M |
|
|
8
Cognex
CGNX
$11B
| $5.31M | 0.94% |
108,121
-1,157,000
| -91% | -$52.2M |
|
|
FEDU
9
Four Seasons Education Depositary Shares Rep 10 Ordinary Shares
FEDU
$20.9M
| $2.88M | 0.51% |
79,201
-10,874
| -12% | -$422K |
|
10
Estee Lauder
EL
$31.2B
| $2.43M | 0.43% |
12,222
-140
| -1% | -$26.8K |
|
|
11
The RealReal
REAL
$1.39B
| $814K | 0.14% |
36,400
+16,400
| +82% | +$330K |
|
|
12
Hexcel
HXL
$7.87B
| – | – |
-218,053
| Closed | -$17.6M |
|
13
TJX Companies
TJX
$168B
| – | – |
-35,614
| Closed | -$1.88M |
|
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Joho Capital's Q3 2019 Portfolio in Review
As of Q3 2019, Joho Capital held 13 positions worth $566M, down 13% from $653M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Joho Capital withdrew a net $73.3M in Q3 2019, closing 2 positions and reducing 7 holdings. Its most notable exit was Hexcel, an estimated $17.6M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 52% of assets, up from 45% a quarter earlier, followed by Technology and Industrials.
Against the trend, Joho Capital opened a new position in Livent Corporation worth $16.6M.
- Joho Capital's largest Q3 2019 buy was Livent Corporation: 2,473,989 shares worth $16.6M.
- Joho Capital added most to Global Payments in Q3 2019, an estimated $66.4M increase.
- Joho Capital's biggest Q3 2019 reduction was Farfetch Limited Class A Ordinary Shares, cutting an estimated $60.1M.
- Joho Capital fully exited Hexcel in Q3 2019, selling an estimated $17.6M.
- Joho Capital's ten largest holdings make up 100% of its $566M portfolio in Q3 2019.
- Joho Capital opened 1 new position and closed 2 in Q3 2019.
- Joho Capital's portfolio value fell 13% quarter-over-quarter to $566M.
Based on Joho Capital's 13F filing for Q3 2019, filed 14 Nov 2019.