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 |
Netflix
NFLX
|
+$199M |
| 2 |
TWTR
Twitter, Inc.
TWTR
|
+$165M |
| 3 |
Mercado Libre
MELI
|
+$144M |
| 4 |
ATVI
Activision Blizzard
ATVI
|
+$109M |
| 5 |
Marvell Technology
MRVL
|
+$89.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Li Auto
LI
|
+$120M |
| 2 |
Las Vegas Sands
LVS
|
+$120M |
| 3 |
Amazon
AMZN
|
+$117M |
| 4 |
NXP Semiconductors
NXPI
|
+$97.1M |
| 5 |
Check Point Software Technologies
CHKP
|
+$91.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 40.45% |
| 2 | Communication Services | 36.94% |
| 3 | Consumer Discretionary | 17.9% |
| 4 | Financials | 3.48% |
| 5 | Healthcare | 1.22% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Netflix
NFLX
$331B
| $211M | 13.4% |
+8,975,060
| New | +$199M |
|
|
TWTR
2
DELISTED
Twitter, Inc.
TWTR
| $178M | 11.26% |
+4,051,000
| New | +$165M |
|
|
3
Mercado Libre
MELI
$97.5B
| $138M | 8.78% |
+167,267
| New | +$144M |
|
4
Elastic
ESTC
$8.93B
| $136M | 8.63% |
1,896,288
+279,251
| +17% | +$22.2M |
|
5
Alibaba
BABA
$286B
| $128M | 8.12% |
1,600,210
+114,723
| +8% | +$10.9M |
|
|
ATVI
6
DELISTED
Activision Blizzard
ATVI
| $103M | 6.56% |
+1,392,000
| New | +$109M |
|
|
7
Marvell Technology
MRVL
$213B
| $77.5M | 4.91% |
+1,805,527
| New | +$89.4M |
|
8
Trade Desk
TTD
$6.19B
| $70.1M | 4.45% |
+1,173,006
| New | +$66.7M |
|
|
SIX
9
DELISTED
Six Flags Entertainment Corp.
SIX
| $65.3M | 4.14% |
+3,690,320
| New | +$83.3M |
|
10
Palo Alto Networks
PANW
$292B
| $61.9M | 3.92% |
755,490
-57,972
| -7% | -$5.02M |
|
11
Flex
FLEX
$40.8B
| $59.1M | 3.75% |
+4,703,648
| New | +$60.1M |
|
|
EDR
12
DELISTED
Endeavor Group Holdings, Inc.
EDR
| $58.1M | 3.69% |
2,867,819
-28,878
| -1% | -$653K |
|
13
Advanced Micro Devices
AMD
$773B
| $56.2M | 3.57% |
887,321
+112,082
| +14% | +$9.54M |
|
14
monday.com
MNDY
$3.84B
| $52.4M | 3.32% |
462,138
-114,916
| -20% | -$13.6M |
|
|
CONX
15
DELISTED
CONX Corp. Class A Common Stock
CONX
| $40M | 2.54% |
4,000,000
| – | – |
|
16
Workday
WDAY
$49.4B
| $35.3M | 2.24% |
+231,629
| New | +$36.3M |
|
17
Braze
BRZE
$3.5B
| $28.8M | 1.83% |
826,382
+138,002
| +20% | +$5.83M |
|
18
JFrog
FROG
$11.4B
| $27.2M | 1.72% |
1,229,484
-45,516
| -4% | -$1.01M |
|
|
RVNC
19
DELISTED
Revance Therapeutics, Inc.
RVNC
| $19.3M | 1.22% |
+714,000
| New | +$14.5M |
|
|
LEGA
20
DELISTED
Lead Edge Growth Opportunities, Ltd Class A Ordinary Shares
LEGA
| $14.8M | 0.94% |
1,500,000
| – | – |
|
21
Trip.com Group
TCOM
$29B
| $9.26M | 0.59% |
+339,000
| New | +$8.88M |
|
22
NIO
NIO
$11.6B
| $6.45M | 0.41% |
409,000
+166,000
| +68% | +$3.28M |
|
|
CONXW
23
DELISTED
CONX Corp. Warrant
CONXW
| $80K | 0.01% |
1,000,000
| – | – |
|
|
LEGAW
24
DELISTED
Lead Edge Growth Opportunities, Ltd Warrant
LEGAW
| $22K | ﹤0.01% |
375,000
| – | – |
|
|
25
Amazon
AMZN
$2.79T
| – | – |
-1,100,000
| Closed | -$117M |
|
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Josh Resnick's Q3 2022 Portfolio in Review
As of Q3 2022, Josh Resnick held 37 positions worth $1.58B, down 1.1% from $1.59B the previous quarter. Its ten largest holdings account for 74% of the portfolio.
Josh Resnick deployed $48.8M of net new capital in Q3 2022, opening 11 new positions and adding to 5 existing holdings. Its largest new stake was Netflix: 8,975,060 shares worth $211M.
By sector, the portfolio is most concentrated in Technology at 40% of assets, down from 43% a quarter earlier, followed by Communication Services and Consumer Discretionary.
On the sell side, the largest reduction was monday.com, an estimated $13.6M trimmed.
- Josh Resnick's largest Q3 2022 buy was Netflix: 8,975,060 shares worth $211M.
- Josh Resnick added most to Elastic in Q3 2022, an estimated $22.2M increase.
- Josh Resnick's biggest Q3 2022 reduction was monday.com, cutting an estimated $13.6M.
- Josh Resnick fully exited Li Auto in Q3 2022, selling an estimated $120M.
- Josh Resnick's ten largest holdings make up 74% of its $1.58B portfolio in Q3 2022.
- Josh Resnick opened 11 new positions and closed 13 in Q3 2022.
- Josh Resnick's portfolio value fell 1.1% quarter-over-quarter to $1.58B.
Based on Jericho Capital Asset Management's 13F filing for Q3 2022, filed 14 Nov 2022.