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JR

Josh Resnick Jericho Capital Asset Management

AUM $12.1B
1-Year Est. Return 109.57%
 

Josh Resnick is the founder of Jericho Capital Asset Management, a technology-focused long/short equity firm. Jericho is known for fundamental research across software, internet, and communications-related businesses. Resnick’s portfolio disclosures are followed by investors tracking high-conviction technology specialists.

This Fund
S&P 500
This Quarter Est. Return
-7.68%
1 Year Est. Return
+109.57%
3 Year Est. Return
+573.41%
5 Year Est. Return
+1,063.76%
10 Year Est. Return
+24,516.22%
AUM
$983M
AUM Growth
-$1.36B
Cap. Flow
-$1.3B
Cap. Flow %
-132.44%
Top 10 Hldgs %
84.4%
Holding
32
New
9
Increased
2
Reduced
5
Closed
16

Top Buys

Rank Stock Value
1
NOW icon
ServiceNow
NOW
+$109M
2
NVDA icon
NVIDIA
NVDA
+$67.7M
3
PANW icon
Palo Alto Networks
PANW
+$59.7M
4
BILI icon
Bilibili
BILI
+$49.7M
5
NTES icon
NetEase
NTES
+$45.8M

Top Sells

Rank Stock Value
1
MOMO
Hello Group
MOMO
+$223M
2
SPOT icon
Spotify
SPOT
+$186M
3
NFLX icon
Netflix
NFLX
+$139M
4
TTWO icon
Take-Two Interactive
TTWO
+$136M
5
TMUS icon
T-Mobile US
TMUS
+$108M

Sector Composition

Rank Sector Weight
1 Technology 75.37%
2 Communication Services 22.65%
3 Consumer Discretionary 1.98%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TTWO icon
26
Take-Two Interactive
TTWO
$44.8B
– –
-987,000
Closed -$136M
AYX
27
DELISTED
Alteryx Inc
AYX
– –
-1,229,034
Closed -$70.3M
SPLK
28
DELISTED
Splunk Inc
SPLK
– –
-536,000
Closed -$64.8M
TWTR
29
DELISTED
Twitter, Inc.
TWTR
– –
-2,159,452
Closed -$61.5M
PVTL
30
DELISTED
Pivotal Software, Inc.
PVTL
– –
-2,329,905
Closed -$45.6M
ELLI
31
DELISTED
Ellie Mae Inc
ELLI
– –
-755,600
Closed -$71.6M
SEND
32
DELISTED
SendGrid, Inc.
SEND
– –
-860,925
Closed -$31.7M
1
2

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Josh Resnick's Q4 2018 Portfolio in Review

As of Q4 2018, Josh Resnick held 32 positions worth $983M, down 58% from $2.35B the previous quarter. Its ten largest holdings account for 84% of the portfolio.

Josh Resnick withdrew a net $1.3B in Q4 2018, closing 16 positions and reducing 5 holdings. Its most notable exit was Hello Group, an estimated $223M position sold in full.

By sector, the portfolio is most concentrated in Technology at 75% of assets, up from 47% a quarter earlier, followed by Communication Services and Consumer Discretionary.

Against the trend, Josh Resnick opened a new position in ServiceNow worth $109M.

  • Josh Resnick's largest Q4 2018 buy was ServiceNow: 3,068,210 shares worth $109M.
  • Josh Resnick added most to Bilibili in Q4 2018, an estimated $49.7M increase.
  • Josh Resnick's biggest Q4 2018 reduction was Tableau Software, Inc., cutting an estimated $86.2M.
  • Josh Resnick fully exited Hello Group in Q4 2018, selling an estimated $223M.
  • Josh Resnick's ten largest holdings make up 84% of its $983M portfolio in Q4 2018.
  • Josh Resnick opened 9 new positions and closed 16 in Q4 2018.
  • Josh Resnick's portfolio value fell 58% quarter-over-quarter to $983M.

Based on Jericho Capital Asset Management's 13F filing for Q4 2018, filed 14 Feb 2019.