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
+14.27%
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
$671M
AUM Growth
+$105M
(+18%)
Cap. Flow
+$29.5M
Cap. Flow
% of AUM
4.39%
Top 10 Holdings %
Top 10 Hldgs %
99.86%
Holding
12
New
1
Increased
3
Reduced
3
Closed
1
Avg Time Held
1.6
years
Top 10 Avg Time Held
1.6
years
Top 20 Avg Time Held
1.6
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ServiceNow
NOW
|
+$17.4M |
| 2 |
Global Payments
GPN
|
+$14.8M |
| 3 |
LTHM
Livent Corporation
LTHM
|
+$11M |
| 4 |
Estee Lauder
EL
|
+$816K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Floor & Decor
FND
|
+$6.57M |
| 2 |
FTCH
Farfetch Limited Class A Ordinary Shares
FTCH
|
+$5.27M |
| 3 |
Four Seasons Education Depositary Shares Rep 10 Ordinary Shares
FEDU
|
+$1.89M |
| 4 |
The RealReal
REAL
|
+$814K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 46.79% |
| 2 | Technology | 24.67% |
| 3 | Industrials | 19.71% |
| 4 | Materials | 4.99% |
| 5 | Communication Services | 3.19% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Floor & Decor
FND
$4.71B
| $168M | 25.03% |
3,305,034
-140,100
| -4% | -$6.57M |
2018 Q1
7 quarters
|
|
2
Alibaba
BABA
$277B
| $146M | 21.76% |
688,471
| – | – |
2015 Q2
18 quarters
|
|
3
Microsoft
MSFT
$3.96T
| $141M | 20.99% |
893,000
| – | – |
2019 Q1
3 quarters
|
|
|
4
Global Payments
GPN
$21.4B
| $128M | 19.05% |
700,000
+86,000
| +14% | +$14.8M |
2019 Q2
2 quarters
|
|
|
LTHM
5
DELISTED
Livent Corporation
LTHM
| $33.5M | 4.99% |
3,917,195
+1,443,206
| +58% | +$11M |
2019 Q3
1 quarter
|
|
6
Spotify
SPOT
$108B
| $21.4M | 3.19% |
143,217
| – | – |
2019 Q1
3 quarters
|
|
|
7
ServiceNow
NOW
$145B
| $18.6M | 2.78% |
+330,000
| New | +$17.4M |
2019 Q4
0 quarters
|
|
8
Cognex
CGNX
$9.63B
| $6.06M | 0.9% |
108,121
| – | – |
2015 Q3
17 quarters
|
|
|
FTCH
9
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
| $4.45M | 0.66% |
430,005
-586,502
| -58% | -$5.27M |
2018 Q4
4 quarters
|
|
|
10
Estee Lauder
EL
$36.8B
| $3.39M | 0.51% |
16,422
+4,200
| +34% | +$816K |
2018 Q1
7 quarters
|
|
|
11
Four Seasons Education Depositary Shares Rep 10 Ordinary Shares
FEDU
$25.9M
| $948K | 0.14% |
29,630
-49,571
| -63% | -$1.89M |
2018 Q1
7 quarters
|
|
|
12
The RealReal
REAL
$1.11B
| – | – |
-36,400
| Closed | -$814K | – |
|
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Joho Capital's Q4 2019 Portfolio in Review
As of Q4 2019, Joho Capital held 12 positions worth $671M, up 18% from $566M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Joho Capital deployed $29.5M of net new capital in Q4 2019, opening 1 new position and adding to 3 existing holdings. Its largest new stake was ServiceNow: 330,000 shares worth $18.6M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 47% of assets, down from 52% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was Floor & Decor, an estimated $6.57M trimmed.
- Joho Capital's largest Q4 2019 buy was ServiceNow: 330,000 shares worth $18.6M.
- Joho Capital added most to Global Payments in Q4 2019, an estimated $14.8M increase.
- Joho Capital's biggest Q4 2019 reduction was Floor & Decor, cutting an estimated $6.57M.
- Joho Capital fully exited The RealReal in Q4 2019, selling an estimated $814K.
- Joho Capital's ten largest holdings make up 100% of its $671M portfolio in Q4 2019.
- Joho Capital opened 1 new position and closed 1 in Q4 2019.
- Joho Capital's portfolio value rose 18% quarter-over-quarter to $671M.
Based on Joho Capital's 13F filing for Q4 2019, filed 13 Feb 2020.