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Joho Capital Portfolio holdings

AUM $460M
1-Year Est. Return 11.37%
This Fund
S&P 500
This Quarter Est. Return
-14.59%
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
$386M
AUM Growth
-$285M
Cap. Flow
-$201M
Cap. Flow %
-52.07%
Top 10 Hldgs %
100%
Holding
13
New
2
Increased
–
Reduced
7
Closed
3

Top Buys

Rank Stock Value
1
EEFT icon
Euronet Worldwide
EEFT
+$5.54M
2
DAY
Dayforce
DAY
+$4.01M

Top Sells

Rank Stock Value
1
GPN icon
Global Payments
GPN
+$90.5M
2
FND icon
Floor & Decor
FND
+$42.4M
3
MSFT icon
Microsoft
MSFT
+$25.5M
4
SPOT icon
Spotify
SPOT
+$21.4M
5
NOW icon
ServiceNow
NOW
+$18.6M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 54.62%
2 Technology 32.18%
3 Industrials 7.66%
4 Materials 4.97%
5 Consumer Staples 0.56%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BABA icon
1
Alibaba
BABA
$297B
$134M 34.7%
688,471
– –
MSFT icon
2
Microsoft
MSFT
$3.68T
$116M 30.16%
738,000
-155,000
-17% -$25.5M
FND icon
3
Floor & Decor
FND
$6.24B
$76.9M 19.92%
2,395,798
-909,236
-28% -$42.4M
GPN icon
4
Global Payments
GPN
$24.6B
$29.6M 7.66%
205,000
-495,000
-71% -$90.5M
LTHM
5
DELISTED
Livent Corporation
LTHM
$19.2M 4.97%
3,652,790
-264,405
-7% -$2.23M
EEFT icon
6
Euronet Worldwide
EEFT
$2.74B
$3.58M 0.93%
+41,820
New +$5.54M
DAY
7
DELISTED
Dayforce
DAY
$3.03M 0.79%
+60,537
New +$4.01M
EL icon
8
Estee Lauder
EL
$31.2B
$1.59M 0.41%
9,972
-6,450
-39% -$1.24M
CGNX icon
9
Cognex
CGNX
$11B
$1.19M 0.31%
28,121
-80,000
-74% -$4.01M
FEDU
10
Four Seasons Education Depositary Shares Rep 10 Ordinary Shares
FEDU
$20.9M
$589K 0.15%
25,848
-3,782
-13% -$112K
NOW icon
11
ServiceNow
NOW
$128B
– –
-330,000
Closed -$18.6M
SPOT icon
12
Spotify
SPOT
$105B
– –
-143,217
Closed -$21.4M
FTCH
13
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
– –
-430,005
Closed -$4.45M

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AWCI
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DC
DeDora Capital Napa, California $460M AUM 25.48% 1-Year Est. Return
SGA
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IAG
Investment Advisory Group Hanover, Massachusetts $461M AUM 22.74% 1-Year Est. Return
PAA
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RAG
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HIP
Harrell Investment Partners Austin, Texas $461M AUM 31.07% 1-Year Est. Return

Joho Capital's Q1 2020 Portfolio in Review

As of Q1 2020, Joho Capital held 13 positions worth $386M, down 42% from $671M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Joho Capital withdrew a net $201M in Q1 2020, closing 3 positions and reducing 7 holdings. Its most notable exit was Spotify, an estimated $21.4M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 55% of assets, up from 47% a quarter earlier, followed by Technology and Industrials.

Against the trend, Joho Capital opened a new position in Euronet Worldwide worth $3.58M.

  • Joho Capital's largest Q1 2020 buy was Euronet Worldwide: 41,820 shares worth $3.58M.
  • Joho Capital's biggest Q1 2020 reduction was Global Payments, cutting an estimated $90.5M.
  • Joho Capital fully exited Spotify in Q1 2020, selling an estimated $21.4M.
  • Joho Capital's ten largest holdings make up 100% of its $386M portfolio in Q1 2020.
  • Joho Capital opened 2 new positions and closed 3 in Q1 2020.
  • Joho Capital's portfolio value fell 42% quarter-over-quarter to $386M.

Based on Joho Capital's 13F filing for Q1 2020, filed 14 May 2020.