Jericho Capital

Q3 2015 13F · by Josh Resnick, founder

As of: Sep 30, 2015
Filed: Nov 16, 2015
US stock: $1.6B · prev $1.5B
Positions: 29 · prev 27
Options notional: $30M
Documents: 1· no amendments

Picture98.1% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 98.1%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.4%
Calls at notional value 1.5%

Moves41 since the prior filing

+44.6 pp in · −42.2 pp out

New 10 +28.77 pp
Added 10 +15.81 pp
Trimmed 7 −9.28 pp
Exited 8 −32.87 pp

Options: 6 moves on a notional base, in the table below.

The book

Concentrated · behaves like 15 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 177% a year, about 0.6 years per position

Low
Moderate
High

Top 5 positions43% of US stock

CVC Cablevision Sys Cp NY Grp Cl-a added+18.30 pp added+18.3019.5%
unresolved Charter Comm's Inc new+7.55 pp new+7.557.5%
JD JD.com, Inc. added−2.39 pp added−2.395.9%
ZEN Zendesk Inc added−0.13 pp added−0.135.1%
BID Tribeca Strategic Acquisition Corp. Class A held held4.7%

Positions29 in this filing · 8 exited


CVCCablevision Sys Cp NY Grp Cl-a	19.54%	9,477,488	$308M	added×12.5	+18.30 pp	2 q
unresolvedCharter Comm's Inc	7.55%	676,000	$119M	new	+7.55 pp	new
JDJD.com, Inc.	5.94%	3,592,468	$94M	added0%	−2.39 pp	3 q
ZENZendesk Inc	5.08%	4,062,261	$80M	added+18%	−0.13 pp	5 q
BIDTribeca Strategic Acquisition Corp. Class A	4.71%	2,319,885	$74M	held	—	4 q
CTRPTrip.com Group Limited	4.07%	1,013,794	$64M	new	+4.07 pp	new
ZBRAZebra Technologies Corporation	3.99%	820,569	$63M	added+52%	−0.10 pp	3 q
CRTOCriteo S.A.	3.98%	1,669,261	$63M	trimmed−11%	−2.10 pp	5 q
unresolvedQlik Technologies Inc	3.47%	1,501,007	$55M	new	+3.47 pp	new
unresolvedQunar ADR	3.47%	1,815,692	$55M	added+45%	−0.19 pp	3 q
AMZNAmazon.Com Inc	3.41%	104,768	$54M	trimmed−45%	−2.19 pp	4 q
CDNSCadence Design Systems	3.26%	2,484,005	$51M	new	+3.26 pp	new
INFNInfinera Corporation	2.94%	2,368,492	$46M	added+77%	+1.02 pp	4 q
GOGOGogo Inc.	2.85%	2,938,454	$45M	added+59%	+0.15 pp	2 q
ONON Semiconductor Corp	2.74%	4,586,709	$43M	added+9%	−0.61 pp	4 q
DATATableau Software, Inc.	2.46%	486,256	$39M	added+61%	+0.09 pp	7 q
PFPTProofpoint, Inc.	2.37%	617,914	$37M	trimmed−15%	−0.79 pp	3 q
MSFTMicrosoft Corp	2.26%	802,659	$36M	new	+2.26 pp	new
unresolvedArris Group Inc New	2.11%	1,278,148	$33M	added+9%	−0.33 pp	2 q
unresolvedGrubhub Inc	2.06%	1,334,979	$32M	new	+2.06 pp	new
unresolvedStarz	1.95%	822,754	$31M	new	+1.95 pp	new
unresolvedVimpelcom Ltd-spon ADR	1.95%	7,465,346	$31M	trimmed−14%	−1.00 pp	5 q
unresolvedPandora Media Inc	1.81%	1,332,600	$28M	new	+1.81 pp	new
CAVMCavium LLC	1.74%	447,564	$27M	new	+1.74 pp	new
EIGIEndurance International Group Holdings, Inc.	1.28%	1,510,075	$20M	trimmed−35%	−2.01 pp	4 q
MOMOHello Group Inc.	1.19%	1,502,996	$19M	trimmed−3%	−0.51 pp	3 q
unresolvedMindbody Cl A	0.69%	700,000	$11M	held	—	2 q
MRVLMarvell Technology, Inc.	0.60%	1,045,446	$9M	new	+0.60 pp	new
unresolvedInfoblox Inc	0.52%	515,274	$8M	trimmed−23%	−0.68 pp	2 q
BIDUBaidu, Inc.	—	−807,000	—	exited	−10.97 pp	—
unresolvedLevel 3 Communications Inc	—	−1,457,389	—	exited	−5.24 pp	—
METAMeta Platforms, Inc. Class A	—	−872,720	—	exited	−5.11 pp	—
NFLXNetFlix Inc	—	−651,000	—	exited	−4.17 pp	—
DISHDISH Network Corp.	—	−632,000	—	exited	−2.92 pp	—
unresolvedPinnacle Entertainment Inc.	—	−988,400	—	exited	−2.52 pp	—
unresolvedCree Inc	—	−621,848	—	exited	−1.11 pp	—
unresolvedKing Digital Entmt PLC	—	−853,556	—	exited	−0.83 pp	—