Jericho Capital

Q4 2015 13F · by Josh Resnick, founder

As of: Dec 31, 2015
Filed: Feb 16, 2016
US stock: $2.1B · prev $1.6B
Positions: 26 · prev 29
Options notional: $192M
Documents: 1· no amendments

Picture91.6% US stock

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

US stock listed on a US exchange 91.6%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 5.1%
Calls at notional value 3.3%

Moves46 since the prior filing

+51.7 pp in · −51.5 pp out

New 14 +47.49 pp
Added 8 +4.19 pp
Trimmed 3 −7.57 pp
Exited 17 −43.93 pp

Options: 4 moves on a notional base, in the table below.

The book

Concentrated · behaves like 16 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 166% a year, about 0.6 years per position

Low
Moderate
High

Top 5 positions41% of US stock

CVC Cablevision Sys Cp NY Grp Cl-a added−2.07 pp added−2.0717.5%
unresolved Avago Technologies Ltd new+6.26 pp new+6.266.3%
GOOGL Alphabet Inc. Class A new+5.85 pp new+5.855.8%
unresolved Qunar ADR added+2.26 pp added+2.265.7%
ZEN Zendesk Inc added+0.27 pp added+0.275.3%

Positions26 in this filing · 17 exited


CVCCablevision Sys Cp NY Grp Cl-a	17.47%	11,429,488	$365M	added+21%	−2.07 pp	3 q
unresolvedAvago Technologies Ltd	6.26%	899,847	$131M	new	+6.26 pp	new
GOOGLAlphabet Inc. Class A	5.85%	157,000	$122M	new	+5.85 pp	new
unresolvedQunar ADR	5.73%	2,269,318	$120M	added+25%	+2.26 pp	4 q
ZENZendesk Inc	5.35%	4,222,050	$112M	added+4%	+0.27 pp	6 q
AMZNAmazon.Com Inc	5.28%	163,083	$110M	added+56%	+1.87 pp	5 q
MCDMcDonald's Corporation	4.95%	874,000	$103M	new	+4.95 pp	new
VIABViacom Inc. Class B	4.31%	2,187,735	$90M	new	+4.31 pp	new
unresolvedLevel 3 Communications Inc	4.18%	1,605,785	$87M	new	+4.18 pp	new
JDJD.com, Inc.	3.59%	2,319,443	$75M	trimmed−35%	−2.35 pp	4 q
VIPSVipshop Holdings Limited	3.54%	4,842,157	$74M	new	+3.54 pp	new
AIYActivision Blizzard Inc	3.45%	1,859,094	$72M	new	+3.45 pp	new
unresolvedArris Group Inc New	3.13%	2,139,148	$65M	added+67%	+1.02 pp	3 q
EQIXEquinix, Inc.	3.12%	215,565	$65M	new	+3.12 pp	new
DATATableau Software, Inc.	3.07%	679,176	$64M	added+40%	+0.61 pp	8 q
INFNInfinera Corporation	2.98%	3,434,166	$62M	added+45%	+0.04 pp	5 q
PANWPalo Alto Networks, Inc.	2.96%	351,242	$62M	new	+2.96 pp	new
DKSDick's Sporting Goods, Inc.	2.87%	1,697,297	$60M	new	+2.87 pp	new
PFPTProofpoint, Inc.	2.56%	822,813	$53M	added+33%	+0.19 pp	4 q
CRTOCriteo S.A.	2.37%	1,251,614	$50M	trimmed−25%	−1.61 pp	6 q
NOWServicenow, Inc.	2.01%	484,746	$42M	new	+2.01 pp	new
CASYCasey's General Stores Inc	1.94%	335,799	$40M	new	+1.94 pp	new
SPLKSplunk Inc	1.82%	645,637	$38M	new	+1.82 pp	new
unresolvedMindbody Cl A	0.51%	700,000	$11M	held	—	3 q
CTRPTrip.com Group Limited	0.46%	207,592	$10M	trimmed−90%	−3.61 pp	2 q
ROVIRovi Corporation Com Stk (De)	0.23%	292,037	$5M	new	+0.23 pp	new
unresolvedCharter Comm's Inc	—	−676,000	—	exited	−7.55 pp	—
BIDTribeca Strategic Acquisition Corp. Class A	—	−2,319,885	—	exited	−4.71 pp	—
ZBRAZebra Technologies Corporation	—	−820,569	—	exited	−3.99 pp	—
unresolvedQlik Technologies Inc	—	−1,501,007	—	exited	−3.47 pp	—
CDNSCadence Design Systems	—	−2,484,005	—	exited	−3.26 pp	—
GOGOGogo Inc.	—	−2,938,454	—	exited	−2.85 pp	—
ONON Semiconductor Corp	—	−4,586,709	—	exited	−2.74 pp	—
MSFTMicrosoft Corp	—	−802,659	—	exited	−2.26 pp	—
unresolvedGrubhub Inc	—	−1,334,979	—	exited	−2.06 pp	—
unresolvedStarz	—	−822,754	—	exited	−1.95 pp	—
unresolvedVimpelcom Ltd-spon ADR	—	−7,465,346	—	exited	−1.95 pp	—
unresolvedPandora Media Inc	—	−1,332,600	—	exited	−1.81 pp	—
CAVMCavium LLC	—	−447,564	—	exited	−1.74 pp	—
EIGIEndurance International Group Holdings, Inc.	—	−1,510,075	—	exited	−1.28 pp	—
MOMOHello Group Inc.	—	−1,502,996	—	exited	−1.19 pp	—
MRVLMarvell Technology, Inc.	—	−1,045,446	—	exited	−0.60 pp	—
unresolvedInfoblox Inc	—	−515,274	—	exited	−0.52 pp	—