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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
+15.94%
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
+$2.16M
(+0.12%)
Cap. Flow
-$50M
Cap. Flow % of AUM
Cap. Flow %
-2.84%
Top 10 Holdings %
Top 10 Hldgs %
57.83%
Holding
45
New
12
Increased
12
Reduced
3
Closed
18
Avg Time Held
Equity + Options
0.2
years
Top 10 Avg Time Held
Equity + Options
0.3
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
0.3
years
Top 20 Avg Time Held Equity only
0.2
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SBA Communications
SBAC
|
+$91.5M |
| 2 |
RHT
Red Hat Inc
RHT
|
+$69.6M |
| 3 |
Netflix
NFLX
|
+$54.2M |
| 4 |
MNDT
Mandiant, Inc. Common Stock
MNDT
|
+$52.5M |
| 5 |
Groupon
GRPN
|
+$51.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWX
Time Warner Inc
TWX
|
+$93.4M |
| 2 |
NetEase
NTES
|
+$60.7M |
| 3 |
Hello Group
MOMO
|
+$53M |
| 4 |
Broadcom
AVGO
|
+$52M |
| 5 |
ATVI
Activision Blizzard
ATVI
|
+$50.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 46.11% |
| 2 | Technology | 38.56% |
| 3 | Consumer Discretionary | 5.47% |
| 4 | Real Estate | 5.26% |
| 5 | Financials | 2.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
RHT
1
DELISTED
Red Hat Inc
RHT
| $186M | 10.56% |
1,676,785
+679,768
| +68% | +$69.6M |
2017 Q1
2 quarters
|
|
|
STMP
2
DELISTED
Stamps.com, Inc.
STMP
| $115M | 6.51% |
565,858
-168,893
| -23% | -$31M |
2016 Q3
4 quarters
|
|
3
DELISTED
Pandora Media Inc
P
| $110M | 6.25% |
14,289,481
+1,778,000
| +14% | +$15.3M |
2017 Q2
1 quarter
|
|
4
Nebius Group N.V.
NBIS
$35B
| $95.4M | 5.42% |
2,895,628
+1,547,645
| +115% | +$47.2M |
2017 Q2
1 quarter
|
|
|
5
SBA Communications
SBAC
$19.8B
| $92.6M | 5.26% |
+643,000
| New | +$91.5M |
2017 Q3
0 quarters
|
|
6
Liberty Media Corporation Series C Common Stock
FWONK
$28B
| $92.4M | 5.25% |
2,509,857
+749,859
| +43% | +$26.2M |
2017 Q1
2 quarters
|
|
7
GoDaddy
GDDY
$13.7B
| $90.9M | 5.16% |
2,089,000
+541,000
| +35% | +$23.3M |
2017 Q2
1 quarter
|
|
8
Marvell Technology
MRVL
$148B
| $81.4M | 4.62% |
4,548,729
-1,604,975
| -26% | -$26.7M |
2016 Q3
4 quarters
|
|
9
Universal Display
OLED
$4.04B
| $78M | 4.43% |
605,007
+311,007
| +106% | +$37.6M |
2017 Q2
1 quarter
|
|
10
Alibaba
BABA
$236B
| $76.8M | 4.36% |
444,513
+187,513
| +73% | +$30.4M |
2017 Q2
1 quarter
|
|
|
WUBA
11
DELISTED
58.com Inc
WUBA
| $75.3M | 4.27% |
1,191,908
+141,660
| +13% | +$8.05M |
2017 Q2
1 quarter
|
|
|
DATA
12
DELISTED
Tableau Software, Inc.
DATA
| $66.6M | 3.78% |
889,495
+345,000
| +63% | +$24M |
2017 Q2
1 quarter
|
|
|
13
Groupon
GRPN
$487M
| $65M | 3.69% |
+624,938
| New | +$51.6M |
2017 Q3
0 quarters
|
|
|
LOGM
14
DELISTED
LogMein, Inc.
LOGM
| $58.1M | 3.3% |
528,133
-53,259
| -9% | -$5.97M |
2017 Q2
1 quarter
|
|
15
Yelp
YELP
$1.12B
| $57.8M | 3.28% |
+1,333,725
| New | +$51.4M |
2017 Q3
0 quarters
|
|
|
MNDT
16
DELISTED
Mandiant, Inc. Common Stock
MNDT
| $57.3M | 3.25% |
+3,415,694
| New | +$52.5M |
2017 Q3
0 quarters
|
|
|
17
Netflix
NFLX
$261B
| $56.4M | 3.2% |
+3,110,000
| New | +$54.2M |
2017 Q3
0 quarters
|
|
18
Happen Inc
HAPN
$1.78B
| $51.2M | 2.91% |
1,682,839
+363,440
| +28% | +$10.5M |
2017 Q1
2 quarters
|
|
19
NVIDIA
NVDA
$3.93T
| $39.7M | 2.25% |
8,880,000
+1,600,000
| +22% | +$6.65M |
2017 Q2
1 quarter
|
|
20
DELISTED
TrueCar
TRUE
| $39.6M | 2.25% |
2,505,407
+240,000
| +11% | +$4.29M |
2017 Q2
1 quarter
|
|
21
Conduent
CNDT
$199M
| $33.6M | 1.91% |
+2,145,078
| New | +$35M |
2017 Q3
0 quarters
|
|
22
ASML
ASML
$585B
| $30.1M | 1.71% |
+176,000
| New | +$27M |
2017 Q3
0 quarters
|
|
23
New Oriental
EDU
$8.08B
| $29.7M | 1.69% |
+337,000
| New | +$27.5M |
2017 Q3
0 quarters
|
|
|
XLNX
24
DELISTED
Xilinx Inc
XLNX
| $28.5M | 1.62% |
+403,000
| New | +$26.3M |
2017 Q3
0 quarters
|
|
|
ILG
25
DELISTED
ILG, Inc Common Stock
ILG
| $19.5M | 1.11% |
+731,000
| New | +$19.3M |
2017 Q3
0 quarters
|
|
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Josh Resnick's Q3 2017 Portfolio in Review
As of Q3 2017, Josh Resnick held 45 positions worth $1.76B, up 0.12% from $1.76B the previous quarter. Its ten largest holdings account for 58% of the portfolio.
Josh Resnick's Q3 2017 filing shows 12 new, 12 increased, 3 reduced and 18 closed positions. Its largest new stake was SBA Communications: 643,000 shares worth $92.6M. The largest sale was Time Warner Inc, an estimated $93.4M.
By sector, the portfolio is most concentrated in Communication Services at 46% of assets, up from 42% a quarter earlier, followed by Technology and Consumer Discretionary.
- Josh Resnick's largest Q3 2017 buy was SBA Communications: 643,000 shares worth $92.6M.
- Josh Resnick added most to Red Hat Inc in Q3 2017, an estimated $69.6M increase.
- Josh Resnick's biggest Q3 2017 reduction was Stamps.com, Inc., cutting an estimated $31M.
- Josh Resnick fully exited Time Warner Inc in Q3 2017, selling an estimated $93.4M.
- Josh Resnick's ten largest holdings make up 58% of its $1.76B portfolio in Q3 2017.
- Josh Resnick opened 12 new positions and closed 18 in Q3 2017.
- Josh Resnick's portfolio value rose 0.12% quarter-over-quarter to $1.76B.
Based on Jericho Capital Asset Management's 13F filing for Q3 2017, filed 14 Nov 2017.