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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
+8.63%
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
$1.76B
AUM Growth
+$321M
(+22%)
Cap. Flow
+$146M
Cap. Flow % of AUM
Cap. Flow %
8.29%
Top 10 Holdings %
Top 10 Hldgs %
49.27%
Holding
49
New
21
Increased
6
Reduced
6
Closed
16
Avg Time Held
Equity + Options
0.2
years
Top 10 Avg Time Held
Equity + Options
0.1
years
Top 20 Avg Time Held
Equity + Options
0.2
years
Avg Time Held Equity only
0.2
years
Top 10 Avg Time Held Equity only
0.2
years
Top 20 Avg Time Held Equity only
0.2
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Pandora Media Inc
P
|
+$120M |
| 2 |
TWX
Time Warner Inc
TWX
|
+$92.1M |
| 3 |
LOGM
LogMein, Inc.
LOGM
|
+$63.6M |
| 4 |
GoDaddy
GDDY
|
+$62M |
| 5 |
NetEase
NTES
|
+$57.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$94.6M |
| 2 |
T-Mobile US
TMUS
|
+$69.9M |
| 3 |
ServiceNow
NOW
|
+$65.2M |
| 4 |
Mercado Libre
MELI
|
+$50.2M |
| 5 |
Expedia Group
EXPE
|
+$49.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 46.12% |
| 2 | Communication Services | 42.31% |
| 3 | Miscellaneous | 5.75% |
| 4 | Financials | 2.07% |
| 5 | Consumer Discretionary | 2.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
STMP
1
DELISTED
Stamps.com, Inc.
STMP
| $114M | 6.47% |
734,751
+138,448
| +23% | +$17.4M |
2016 Q3
3 quarters
|
|
|
2
DELISTED
Pandora Media Inc
P
| $112M | 6.35% |
+12,511,481
| New | +$120M |
2017 Q2
0 quarters
|
|
3
Marvell Technology
MRVL
$177B
| $102M | 5.78% |
6,153,704
+333,968
| +6% | +$5.4M |
2016 Q3
3 quarters
|
|
4
CALL
Charter Communications
CHTR
$12.8B
| $101M | 5.75% |
+300,000
| New | +$100M |
2017 Q2
0 quarters
|
|
|
RHT
5
DELISTED
Red Hat Inc
RHT
| $95.5M | 5.43% |
997,017
-76,000
| -7% | -$6.78M |
2017 Q1
1 quarter
|
|
|
TWX
6
DELISTED
Time Warner Inc
TWX
| $93.4M | 5.31% |
+930,000
| New | +$92.1M |
2017 Q2
0 quarters
|
|
|
7
GoDaddy
GDDY
$14.8B
| $65.7M | 3.73% |
+1,548,000
| New | +$62M |
2017 Q2
0 quarters
|
|
8
Liberty Media Corporation Series C Common Stock
FWONK
$23.2B
| $62.3M | 3.54% |
1,759,998
+885,460
| +101% | +$29.4M |
2017 Q1
1 quarter
|
|
|
LOGM
9
DELISTED
LogMein, Inc.
LOGM
| $60.8M | 3.46% |
+581,392
| New | +$63.6M |
2017 Q2
0 quarters
|
|
|
10
NetEase
NTES
$72.8B
| $60.7M | 3.45% |
+1,010,000
| New | +$57.9M |
2017 Q2
0 quarters
|
|
11
Hello Group
MOMO
$631M
| $53M | 3.01% |
1,432,710
-777,753
| -35% | -$29.8M |
2017 Q1
1 quarter
|
|
12
Broadcom
AVGO
$1.56T
| $52M | 2.96% |
2,230,000
+110,000
| +5% | +$2.55M |
2017 Q1
1 quarter
|
|
|
ATVI
13
DELISTED
Activision Blizzard
ATVI
| $50.9M | 2.9% |
885,000
-65,378
| -7% | -$3.61M |
2017 Q1
1 quarter
|
|
14
DELISTED
Ultimate Software Group Inc
ULTI
| $50.6M | 2.88% |
+241,000
| New | +$50.7M |
2017 Q2
0 quarters
|
|
15
Gen Digital
GEN
$17.4B
| $49.9M | 2.84% |
1,767,618
+507,406
| +40% | +$15.4M |
2017 Q1
1 quarter
|
|
16
Lam Research
LRCX
$299B
| $49.1M | 2.79% |
+3,470,000
| New | +$50.9M |
2017 Q2
0 quarters
|
|
|
ZEN
17
DELISTED
ZENDESK INC
ZEN
| $48.5M | 2.76% |
1,745,840
-714,000
| -29% | -$19.6M |
2014 Q3
11 quarters
|
|
|
WUBA
18
DELISTED
58.com Inc
WUBA
| $46.3M | 2.63% |
+1,050,248
| New | +$43.3M |
2017 Q2
0 quarters
|
|
|
19
T-Mobile US
TMUS
$166B
| $45.6M | 2.59% |
752,471
-1,073,006
| -59% | -$69.9M |
2016 Q1
5 quarters
|
|
20
DELISTED
TrueCar
TRUE
| $45.2M | 2.57% |
+2,265,407
| New | +$39.1M |
2017 Q2
0 quarters
|
|
21
Happen Inc
HAPN
$1.79B
| $36.3M | 2.07% |
1,319,399
+137,600
| +12% | +$3.91M |
2017 Q1
1 quarter
|
|
22
Alibaba
BABA
$244B
| $36.2M | 2.06% |
+257,000
| New | +$31.7M |
2017 Q2
0 quarters
|
|
|
DISH
23
DELISTED
DISH Network Corp.
DISH
| $35.6M | 2.02% |
566,762
-183,000
| -24% | -$11.5M |
2016 Q4
2 quarters
|
|
24
Nebius Group N.V.
NBIS
$41.9B
| $35.4M | 2.01% |
+1,347,983
| New | +$35.1M |
2017 Q2
0 quarters
|
|
|
CY
25
DELISTED
Cypress Semiconductor
CY
| $34.3M | 1.95% |
+2,510,819
| New | +$34.2M |
2017 Q2
0 quarters
|
|
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Josh Resnick's Q2 2017 Portfolio in Review
As of Q2 2017, Josh Resnick held 49 positions worth $1.76B, up 22% from $1.44B the previous quarter. Its ten largest holdings account for 49% of the portfolio.
Josh Resnick deployed $146M of net new capital in Q2 2017, opening 21 new positions and adding to 6 existing holdings. Its largest new stake was Pandora Media Inc: 12,511,481 shares worth $112M.
By sector, the portfolio is most concentrated in Technology at 46% of assets, up from 39% a quarter earlier, followed by Communication Services and Miscellaneous.
On the sell side, the largest reduction was T-Mobile US, an estimated $69.9M trimmed.
- Josh Resnick's largest Q2 2017 buy was Pandora Media Inc: 12,511,481 shares worth $112M.
- Josh Resnick added most to Liberty Media Corporation Series C Common Stock in Q2 2017, an estimated $29.4M increase.
- Josh Resnick's biggest Q2 2017 reduction was T-Mobile US, cutting an estimated $69.9M.
- Josh Resnick fully exited Meta Platforms (Facebook) in Q2 2017, selling an estimated $94.6M.
- Josh Resnick's ten largest holdings make up 49% of its $1.76B portfolio in Q2 2017.
- Josh Resnick opened 21 new positions and closed 16 in Q2 2017.
- Josh Resnick's portfolio value rose 22% quarter-over-quarter to $1.76B.
Based on Jericho Capital Asset Management's 13F filing for Q2 2017, filed 14 Aug 2017.