Josh Resnick Jericho Capital Asset Management
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vipshop
VIPS
|
+$113M |
| 2 |
VMW
VMware, Inc
VMW
|
+$85.7M |
| 3 |
Booking.com
BKNG
|
+$74.7M |
| 4 |
Marvell Technology
MRVL
|
+$64.4M |
| 5 |
PagSeguro Digital
PAGS
|
+$57.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SBA Communications
SBAC
|
+$147M |
| 2 |
Alibaba
BABA
|
+$139M |
| 3 |
New Oriental
EDU
|
+$58.6M |
| 4 |
OPTU
Optimum Communications Inc
OPTU
|
+$56.5M |
| 5 |
NBIS
Nebius Group N.V.
NBIS
|
+$56.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 48.23% |
| 2 | Communication Services | 29.39% |
| 3 | Consumer Discretionary | 15.55% |
| 4 | Financials | 4.26% |
| 5 | Consumer Staples | 2.57% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
VMW
1
DELISTED
VMware, Inc
VMW
| $221M | 12.1% |
1,823,078
+680,798
| +60% | +$85.7M |
|
|
RHT
2
DELISTED
Red Hat Inc
RHT
| $121M | 6.63% |
810,785
| – | – |
|
|
3
Marvell Technology
MRVL
$213B
| $115M | 6.31% |
5,493,004
+2,812,835
| +105% | +$64.4M |
|
|
4
Vipshop
VIPS
$6.98B
| $114M | 6.23% |
+6,847,039
| New | +$113M |
|
|
TWTR
5
DELISTED
Twitter, Inc.
TWTR
| $107M | 5.84% |
3,676,615
+144,368
| +4% | +$4.23M |
|
|
ILG
6
DELISTED
ILG, Inc Common Stock
ILG
| $91.3M | 5% |
2,935,817
+971,440
| +49% | +$30.4M |
|
7
Palo Alto Networks
PANW
$292B
| $90.3M | 4.94% |
2,983,608
+659,766
| +28% | +$18.3M |
|
8
Groupon
GRPN
$797M
| $82.2M | 4.5% |
946,949
-96,994
| -9% | -$9.41M |
|
|
9
Booking.com
BKNG
$158B
| $79.1M | 4.33% |
+950,000
| New | +$74.7M |
|
10
PayPal
PYPL
$52.7B
| $77.8M | 4.26% |
1,025,496
-230,284
| -18% | -$18.3M |
|
|
STMP
11
DELISTED
Stamps.com, Inc.
STMP
| $74.9M | 4.1% |
372,515
-232,658
| -38% | -$45.5M |
|
|
DATA
12
DELISTED
Tableau Software, Inc.
DATA
| $74.7M | 4.09% |
924,457
-28,038
| -3% | -$2.22M |
|
|
13
PagSeguro Digital
PAGS
$2.38B
| $68.3M | 3.74% |
+1,782,565
| New | +$57.2M |
|
|
ELLI
14
DELISTED
Ellie Mae Inc
ELLI
| $66.7M | 3.65% |
725,338
+330,338
| +84% | +$30.6M |
|
15
Match Group
MTCH
$9.38B
| $61.9M | 3.39% |
1,393,187
-1,266,701
| -48% | -$49M |
|
16
Netflix
NFLX
$331B
| $60.5M | 3.31% |
+2,050,000
| New | +$55.8M |
|
|
MLNX
17
DELISTED
Mellanox Technologies, Ltd.
MLNX
| $51.6M | 2.82% |
708,278
+275,786
| +64% | +$18.6M |
|
|
NUAN
18
DELISTED
Nuance Communications, Inc.
NUAN
| $50.6M | 2.77% |
+3,709,099
| New | +$54.3M |
|
19
Micron Technology
MU
$1.09T
| $48.6M | 2.66% |
+931,288
| New | +$44.6M |
|
|
20
New Oriental
EDU
$8.88B
| $46.9M | 2.57% |
535,282
-629,846
| -54% | -$58.6M |
|
|
MOMO
21
Hello Group
MOMO
$850M
| $38.8M | 2.13% |
+1,038,685
| New | +$33.1M |
|
22
Bilibili
BILI
$7.14B
| $36.4M | 1.99% |
+3,307,046
| New | +$36.8M |
|
|
WUBA
23
DELISTED
58.com Inc
WUBA
| $29.1M | 1.6% |
364,916
-236,992
| -39% | -$18.7M |
|
|
ZEN
24
DELISTED
ZENDESK INC
ZEN
| $19.2M | 1.05% |
+400,798
| New | +$16.6M |
|
25
Ambarella
AMBA
$3.23B
| – | – |
-461,154
| Closed | -$27.1M |
|
Similar funds
Josh Resnick's Q1 2018 Portfolio in Review
As of Q1 2018, Josh Resnick held 39 positions worth $1.83B, down 4.6% from $1.92B the previous quarter. Its ten largest holdings account for 60% of the portfolio.
Josh Resnick withdrew a net $206M in Q1 2018, closing 15 positions and reducing 7 holdings. Its most notable exit was SBA Communications, an estimated $147M position sold in full.
By sector, the portfolio is most concentrated in Technology at 48% of assets, up from 41% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Josh Resnick opened a new position in Vipshop worth $114M.
- Josh Resnick's largest Q1 2018 buy was Vipshop: 6,847,039 shares worth $114M.
- Josh Resnick added most to VMware, Inc in Q1 2018, an estimated $85.7M increase.
- Josh Resnick's biggest Q1 2018 reduction was New Oriental, cutting an estimated $58.6M.
- Josh Resnick fully exited SBA Communications in Q1 2018, selling an estimated $147M.
- Josh Resnick's ten largest holdings make up 60% of its $1.83B portfolio in Q1 2018.
- Josh Resnick opened 9 new positions and closed 15 in Q1 2018.
- Josh Resnick's portfolio value fell 4.6% quarter-over-quarter to $1.83B.
Based on Jericho Capital Asset Management's 13F filing for Q1 2018, filed 15 May 2018.