Jericho Capital

Q3 2020 13F · by Josh Resnick, founder

As of: Sep 30, 2020
Filed: Nov 16, 2020
US stock: $2.5B · prev $2.6B
Positions: 45 · prev 48
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

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

US stock listed on a US exchange 100.0%
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 0.0%

Moves64 since the prior filing

+47.5 pp in · −47.5 pp out

New 16 +38.83 pp
Added 9 +8.69 pp
Trimmed 20 −12.63 pp
Exited 19 −34.86 pp

The book

Focused · behaves like 29 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 179% a year, about 0.6 years per position

Low
Moderate
High

Top 5 positions27% of US stock

DISH DISH Network Corp. trimmed−1.55 pp trimmed−1.557.6%
Z Zillow Group, Inc. Class C trimmed−0.11 pp trimmed−0.116.0%
EXPE Expedia Group, Inc. new+4.58 pp new+4.584.6%
AMD Advanced Micro Devices new+4.41 pp new+4.414.4%
NIO NIO Inc. trimmed+0.76 pp trimmed+0.764.3%

Positions45 in this filing · 19 exited


DISHDISH Network Corp.	7.61%	6,467,213	$188M	trimmed−5%	−1.55 pp	2 q
ZZillow Group, Inc. Class C	5.98%	1,453,974	$148M	trimmed−46%	−0.11 pp	2 q
EXPEExpedia Group, Inc.	4.58%	1,232,698	$113M	new	+4.58 pp	new
AMDAdvanced Micro Devices	4.41%	1,328,000	$109M	new	+4.41 pp	new
NIONIO Inc.	4.30%	5,000,000	$106M	trimmed−57%	+0.76 pp	2 q
SPLKSplunk Inc	4.17%	546,779	$103M	added+59%	+1.49 pp	2 q
TWTRTwitter, Inc.	4.07%	2,257,000	$100M	new	+4.07 pp	new
SESea Limited	4.02%	645,000	$99M	added+47%	+2.18 pp	8 q
MRVLMarvell Technology, Inc.	3.82%	2,377,150	$94M	new	+3.82 pp	new
NBISNebius Group N.V. Class A	3.69%	1,395,000	$91M	added+21%	+1.43 pp	2 q
JDJD.com, Inc.	3.52%	1,118,393	$87M	added+21%	+1.34 pp	3 q
MTCHMatch Group, Inc	3.36%	749,949	$83M	new	+3.36 pp	new
TWLOTwilio Inc.	3.24%	324,000	$80M	new	+3.24 pp	new
PINSPinterest, Inc. Class A	3.17%	1,884,631	$78M	trimmed−34%	+0.70 pp	2 q
CZRCaesars Entertainment, Inc.	3.13%	1,379,000	$77M	new	+3.13 pp	new
MTNVail Resorts, Inc.	2.63%	303,774	$65M	added+3%	+0.53 pp	2 q
LILi Auto Inc.	2.47%	3,501,530	$61M	new	+2.47 pp	new
DTDynatrace, Inc.	2.26%	1,357,360	$56M	trimmed−46%	−1.72 pp	2 q
TMUST-Mobile US, Inc.	2.08%	450,000	$51M	trimmed−63%	−2.85 pp	3 q
ASMLASML Holding NV	2.08%	139,000	$51M	new	+2.08 pp	new
VNETVNET Group, Inc.	2.06%	2,195,703	$51M	added×3.1	+1.40 pp	3 q
PDDPDD Holdings Inc.	1.84%	612,107	$45M	trimmed−13%	−0.53 pp	3 q
unresolvedOutfront Media Inc	1.78%	3,023,849	$44M	trimmed−20%	−0.32 pp	2 q
PENNPENN Entertainment, Inc.	1.66%	563,685	$41M	trimmed−75%	−1.03 pp	2 q
SIX1Six Flags Entertainment Corp.	1.57%	1,912,578	$39M	trimmed−8%	0.00 pp	2 q
LYVLive Nation Entertainment Inc.	1.54%	706,062	$38M	new	+1.54 pp	new
LYFTLyft, Inc. Class A	1.51%	1,354,000	$37M	new	+1.51 pp	new
LPSNLivePerson Inc	1.33%	632,000	$33M	trimmed−35%	−0.24 pp	2 q
ZENZendesk Inc	1.29%	310,000	$32M	new	+1.29 pp	new
SNOWSnowflake Inc.	1.26%	123,700	$31M	new	+1.26 pp	new
CRWDCrowdStrike Holdings, Inc. Class A	1.21%	217,201	$30M	trimmed−80%	−3.09 pp	3 q
BILIBilibili Inc.	1.20%	711,831	$30M	trimmed−39%	−0.93 pp	3 q
UBERUber Technologies, Inc.	1.19%	806,195	$29M	trimmed−9%	+0.12 pp	4 q
LAMRLamar Advertising Co	1.14%	425,775	$28M	trimmed−20%	−0.25 pp	2 q
XPEVXPeng Inc.	1.09%	1,346,000	$27M	new	+1.09 pp	new
AVLRAvalara, Inc.	0.80%	155,000	$20M	new	+0.80 pp	new
ANGIAngi Inc. Class A	0.78%	1,742,390	$19M	added+33%	+0.16 pp	2 q
ZLABZai Lab Limited	0.42%	125,000	$10M	added+16%	+0.07 pp	2 q
APIAgora, Inc.	0.35%	200,000	$9M	trimmed−34%	−0.17 pp	2 q
GDSGDS Holdings Limited	0.29%	87,063	$7M	trimmed−83%	−1.27 pp	3 q
TSLATesla, Inc.	0.27%	15,257	$7M	trimmed−55%	−0.01 pp	2 q
LEGNLegend Biotech Corporation	0.25%	203,000	$6M	added×2.1	+0.09 pp	2 q
AIYActivision Blizzard Inc	0.23%	68,662	$6M	trimmed−42%	−0.12 pp	4 q
BEKEKE Holdings Inc.	0.18%	73,049	$4M	new	+0.18 pp	new
TALTAL Education Group	0.17%	54,000	$4M	trimmed−24%	−0.02 pp	2 q
MSFTMicrosoft Corp	—	−623,706	—	exited	−4.97 pp	—
PYPLPayPal Holdings, Inc.	—	−592,773	—	exited	−4.04 pp	—
RNGRingcentral, Inc.	—	−308,601	—	exited	−3.44 pp	—
ONON Semiconductor Corp	—	−3,738,000	—	exited	−2.90 pp	—
QRVOQorvo, Inc.	—	−663,598	—	exited	−2.87 pp	—
GLIBAGci Liberty Inc - Class A	—	−993,401	—	exited	−2.77 pp	—
CTXSCitrix Systems Inc	—	−412,990	—	exited	−2.39 pp	—
KEYSKeysight Technologies, Inc.	—	−600,000	—	exited	−2.37 pp	—
DOCUDocuSign, Inc.	—	−337,913	—	exited	−2.28 pp	—
PEBPebblebrook Hotel Trust	—	−3,720,226	—	exited	−1.99 pp	—
WMGWarner Music Group Corp. Class A	—	−1,362,882	—	exited	−1.57 pp	—
FAFFirst American Financial Corporation	—	−784,301	—	exited	−1.47 pp	—
WHWyndham Hotels & Resorts, Inc.	—	−343,630	—	exited	−0.57 pp	—
STAYExtended Stay America, Inc. Paired Share	—	−1,288,290	—	exited	−0.56 pp	—
STAAStaar Surgical Co	—	−115,982	—	exited	−0.28 pp	—
ALGNAlign Technology Inc	—	−18,798	—	exited	−0.20 pp	—
DVAXDynavax Technologies Corporation	—	−391,000	—	exited	−0.14 pp	—
VRMVroom, Inc.	—	−15,000	—	exited	−0.03 pp	—
BNRBurning Rock Biotech Limited	—	−20,000	—	exited	−0.02 pp	—