Jericho Capital

Q4 2016 13F · by Josh Resnick, founder

As of: Dec 31, 2016
Filed: Feb 14, 2017
US stock: $1.6B · prev $2.0B
Positions: 29 · prev 33
Options notional: $14M
Documents: 1· no amendments

Picture99.2% US stock

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

US stock listed on a US exchange 99.2%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.8%

Moves50 since the prior filing

+62.0 pp in · −62.0 pp out

New 15 +49.21 pp
Added 6 +12.81 pp
Trimmed 8 −11.35 pp
Exited 19 −50.65 pp

Options: 2 moves on a notional base, in the table below.

The book

Focused · behaves like 22 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 233% a year, about 0.4 years per position

Low
Moderate
High

Top 5 positions34% of US stock

TMUS T-Mobile US, Inc. added+4.51 pp added+4.518.3%
TWX Time Warner Inc new+7.48 pp new+7.487.5%
MRVL Marvell Technology, Inc. trimmed−0.21 pp trimmed−0.216.4%
DISH DISH Network Corp. new+5.94 pp new+5.945.9%
DIS The Walt Disney Company new+5.53 pp new+5.535.5%

Positions29 in this filing · 19 exited


TMUST-Mobile US, Inc.	8.26%	2,327,140	$134M	added+46%	+4.51 pp	4 q
TWXTime Warner Inc	7.48%	1,255,000	$121M	new	+7.48 pp	new
MRVLMarvell Technology, Inc.	6.37%	7,438,391	$103M	trimmed−24%	−0.21 pp	2 q
DISHDISH Network Corp.	5.94%	1,659,179	$96M	new	+5.94 pp	new
DISThe Walt Disney Company	5.53%	859,000	$90M	new	+5.53 pp	new
unresolvedPandora Media Inc	4.87%	6,047,818	$79M	new	+4.87 pp	new
BABAAlibaba Group Holding Limited	4.60%	849,111	$75M	trimmed−58%	−6.20 pp	4 q
SABRSabre Corporation	4.56%	2,962,685	$74M	new	+4.56 pp	new
MGMMgm Resorts International	4.48%	2,514,926	$73M	new	+4.48 pp	new
CHTRCharter Comm Inc Del CL A New	4.25%	239,306	$69M	added×2.0	+2.66 pp	3 q
STMPStamps.com, Inc.	4.19%	592,000	$68M	added+28%	+1.99 pp	2 q
unresolvedComputer Sciences Corp	3.29%	895,457	$53M	added+85%	+2.02 pp	2 q
CRMSalesforce, Inc.	3.27%	773,451	$53M	trimmed−15%	−0.01 pp	2 q
AMDAdvanced Micro Devices	3.24%	4,628,851	$52M	trimmed−31%	+0.91 pp	2 q
NOWServicenow, Inc.	3.18%	692,610	$51M	trimmed−19%	−0.22 pp	2 q
NVDANvidia Corp	2.70%	409,000	$44M	new	+2.70 pp	new
MELIMercado Libre, Inc	2.65%	275,103	$43M	trimmed−40%	−1.63 pp	4 q
unresolvedArris Intl Inc	2.53%	1,360,950	$41M	trimmed−54%	−1.66 pp	4 q
PFPTProofpoint, Inc.	2.50%	573,167	$40M	new	+2.50 pp	new
ZENZendesk Inc	2.36%	1,800,374	$38M	added×2.4	+1.20 pp	10 q
ADIAnalog Devices, Inc.	2.29%	510,832	$37M	new	+2.29 pp	new
CYCypress Semiconductor	2.17%	3,074,000	$35M	new	+2.17 pp	new
MBTMobile TeleSystems Public Joint Stock Company	2.00%	3,550,000	$32M	new	+2.00 pp	new
TXNTexas Instruments Incorporated	1.67%	371,000	$27M	new	+1.67 pp	new
FEYEFireEye, Inc.	1.53%	2,077,796	$25M	added+40%	+0.43 pp	2 q
TTWOTake-Two Interactive Software Inc	1.22%	400,968	$20M	new	+1.22 pp	new
XLNXXilinx Inc	1.10%	294,000	$18M	new	+1.10 pp	new
unresolvedSprint Corporation	1.07%	2,067,000	$17M	trimmed−80%	−2.33 pp	2 q
FTNTFortinet, Inc.	0.70%	375,741	$11M	new	+0.70 pp	new
EAElectronic Arts Inc	—	−2,472,902	—	exited	−10.65 pp	—
GOOGLAlphabet Inc. Class A	—	−137,000	—	exited	−5.55 pp	—
QCOMQualcomm Inc	—	−1,565,100	—	exited	−5.40 pp	—
NXPINXP Semiconductors N.V.	—	−692,000	—	exited	−3.56 pp	—
KELKellanova	—	−811,448	—	exited	−3.17 pp	—
AAPAdvance Auto Parts Inc	—	−396,484	—	exited	−2.98 pp	—
SPLKSplunk Inc	—	−913,894	—	exited	−2.70 pp	—
unresolvedBroadcom Ltd	—	−274,897	—	exited	−2.39 pp	—
MMacy's Inc.	—	−1,045,218	—	exited	−1.95 pp	—
MSGSMadison Square Garden Sports Corp.	—	−227,241	—	exited	−1.94 pp	—
MUMicron Technology, Inc.	—	−1,877,097	—	exited	−1.68 pp	—
ATHMAutohome Inc.	—	−1,288,351	—	exited	−1.57 pp	—
unresolvedPinnacle Foods Inc DEL	—	−574,644	—	exited	−1.45 pp	—
WBWeibo Corporation	—	−514,044	—	exited	−1.30 pp	—
VIABViacom Inc. Class B	—	−633,505	—	exited	−1.22 pp	—
PANWPalo Alto Networks, Inc.	—	−139,000	—	exited	−1.12 pp	—
PRKSUnited Parks & Resorts Inc.	—	−1,531,635	—	exited	−1.04 pp	—
unresolvedMonster Worldwide Inc	—	−2,722,423	—	exited	−0.50 pp	—
FOSLFossil Group, Inc.	—	−343,288	—	exited	−0.48 pp	—