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Josh Resnick Jericho Capital Asset Management
AUM
$12.1B
Turnover
42.42%
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
+8.03%
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
$1.63B
AUM Growth
-$865M
(-35%)
Cap. Flow
-$427M
Cap. Flow % of AUM
Cap. Flow %
-26.15%
Top 10 Holdings %
Top 10 Hldgs %
55.87%
Holding
51
New
15
Increased
6
Reduced
8
Closed
21
Avg Time Held
Equity + Options
0.3
years
Top 10 Avg Time Held
Equity + Options
0.1
years
Top 20 Avg Time Held
Equity + Options
0.3
years
Avg Time Held Equity only
0.3
years
Top 10 Avg Time Held Equity only
0.2
years
Top 20 Avg Time Held Equity only
0.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWX
Time Warner Inc
TWX
|
+$112M |
| 2 |
DISH
DISH Network Corp.
DISH
|
+$94.8M |
| 3 |
Walt Disney
DIS
|
+$83.8M |
| 4 |
Sabre
SABR
|
+$76M |
| 5 |
Pandora Media Inc
P
|
+$75M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Electronic Arts
EA
|
+$211M |
| 2 |
Alibaba
BABA
|
+$113M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$110M |
| 4 |
Qualcomm
QCOM
|
+$107M |
| 5 |
NXP Semiconductors
NXPI
|
+$70.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 47.24% |
| 2 | Communication Services | 40.28% |
| 3 | Consumer Discretionary | 11.63% |
| 4 | Miscellaneous | 0.85% |
| 5 | Consumer Staples | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
T-Mobile US
TMUS
$178B
| $134M | 8.19% |
2,327,140
+734,093
| +46% | +$38.4M |
2016 Q1
3 quarters
|
|
|
TWX
2
DELISTED
Time Warner Inc
TWX
| $121M | 7.42% |
+1,255,000
| New | +$112M |
2016 Q4
0 quarters
|
|
3
Marvell Technology
MRVL
$138B
| $103M | 6.32% |
7,438,391
-2,405,048
| -24% | -$32.7M |
2016 Q3
1 quarter
|
|
|
DISH
4
DELISTED
DISH Network Corp.
DISH
| $96.1M | 5.88% |
+1,659,179
| New | +$94.8M |
2016 Q4
0 quarters
|
|
|
5
Walt Disney
DIS
$205B
| $89.5M | 5.48% |
+859,000
| New | +$83.8M |
2016 Q4
0 quarters
|
|
|
6
DELISTED
Pandora Media Inc
P
| $78.9M | 4.83% |
+6,047,818
| New | +$75M |
2016 Q4
0 quarters
|
|
|
7
Alibaba
BABA
$255B
| $74.6M | 4.56% |
849,111
-1,176,325
| -58% | -$113M |
2016 Q1
3 quarters
|
|
|
8
Sabre
SABR
$703M
| $73.9M | 4.53% |
+2,962,685
| New | +$76M |
2016 Q4
0 quarters
|
|
9
MGM Resorts International
MGM
$8.37B
| $72.5M | 4.44% |
+2,514,926
| New | +$69.7M |
2016 Q4
0 quarters
|
|
10
Charter Communications
CHTR
$15.1B
| $68.9M | 4.22% |
239,306
+122,351
| +105% | +$32.9M |
2016 Q1
3 quarters
|
|
|
STMP
11
DELISTED
Stamps.com, Inc.
STMP
| $67.9M | 4.16% |
592,000
+130,000
| +28% | +$13.5M |
2016 Q3
1 quarter
|
|
|
CSC
12
DELISTED
Computer Sciences
CSC
| $53.2M | 3.26% |
895,457
+411,655
| +85% | +$23.8M |
2016 Q3
1 quarter
|
|
13
Salesforce
CRM
$174B
| $53M | 3.24% |
773,451
-139,472
| -15% | -$10.1M |
2016 Q3
1 quarter
|
|
14
Advanced Micro Devices
AMD
$841B
| $52.5M | 3.21% |
4,628,851
-2,059,981
| -31% | -$17.3M |
2016 Q3
1 quarter
|
|
15
ServiceNow
NOW
$102B
| $51.5M | 3.15% |
3,463,050
-799,070
| -19% | -$12.9M |
2016 Q3
1 quarter
|
|
16
NVIDIA
NVDA
$4.05T
| $43.7M | 2.67% |
+16,360,000
| New | +$34.2M |
2016 Q4
0 quarters
|
|
17
Mercado Libre
MELI
$75.4B
| $43M | 2.63% |
275,103
-184,127
| -40% | -$30.4M |
2016 Q1
3 quarters
|
|
|
ARRS
18
DELISTED
ARRIS International plc Ordinary Shares
ARRS
| $41M | 2.51% |
1,360,950
-1,571,646
| -54% | -$45.6M |
2015 Q2
6 quarters
|
|
|
PFPT
19
DELISTED
Proofpoint, Inc.
PFPT
| $40.5M | 2.48% |
+573,167
| New | +$43.1M |
2016 Q4
0 quarters
|
|
|
ZEN
20
DELISTED
ZENDESK INC
ZEN
| $38.2M | 2.34% |
1,800,374
+1,052,119
| +141% | +$25.5M |
2014 Q3
9 quarters
|
|
21
Analog Devices
ADI
$190B
| $37.1M | 2.27% |
+510,832
| New | +$34.7M |
2016 Q4
0 quarters
|
|
|
CY
22
DELISTED
Cypress Semiconductor
CY
| $35.2M | 2.15% |
+3,074,000
| New | +$33.7M |
2016 Q4
0 quarters
|
|
|
MBT
23
DELISTED
Mobile TeleSystems Public Joint Stock Company American Depositary Shares (Each representing 2 Shares
MBT
| $32.3M | 1.98% |
+3,550,000
| New | +$28.6M |
2016 Q4
0 quarters
|
|
24
Texas Instruments
TXN
$274B
| $27.1M | 1.66% |
+371,000
| New | +$26.5M |
2016 Q4
0 quarters
|
|
|
MNDT
25
DELISTED
Mandiant, Inc. Common Stock
MNDT
| $24.7M | 1.51% |
2,077,796
+598,628
| +40% | +$7.77M |
2016 Q3
1 quarter
|
|
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Josh Resnick's Q4 2016 Portfolio in Review
As of Q4 2016, Josh Resnick held 51 positions worth $1.63B, down 35% from $2.5B the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Josh Resnick withdrew a net $427M in Q4 2016, closing 21 positions and reducing 8 holdings. Its most notable exit was Electronic Arts, an estimated $211M position sold in full.
By sector, the portfolio is most concentrated in Technology at 47% of assets, up from 34% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Josh Resnick opened a new position in Time Warner Inc worth $121M.
- Josh Resnick's largest Q4 2016 buy was Time Warner Inc: 1,255,000 shares worth $121M.
- Josh Resnick added most to T-Mobile US in Q4 2016, an estimated $38.4M increase.
- Josh Resnick's biggest Q4 2016 reduction was Alibaba, cutting an estimated $113M.
- Josh Resnick fully exited Electronic Arts in Q4 2016, selling an estimated $211M.
- Josh Resnick's ten largest holdings make up 56% of its $1.63B portfolio in Q4 2016.
- Josh Resnick opened 15 new positions and closed 21 in Q4 2016.
- Josh Resnick's portfolio value fell 35% quarter-over-quarter to $1.63B.
Based on Jericho Capital Asset Management's 13F filing for Q4 2016, filed 14 Feb 2017.