Jericho Capital

Q1 2021 13F · by Josh Resnick, founder

As of: Mar 31, 2021
Filed: May 17, 2021
US stock: $3.8B · prev $4.2B
Positions: 53 · prev 54
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%

Moves74 since the prior filing

+44.7 pp in · −48.1 pp out

New 25 +31.00 pp
Added 11 +13.71 pp
Trimmed 12 −9.58 pp
Exited 26 −38.49 pp

The book

Focused · behaves like 34 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 171% a year, about 0.6 years per position

Low
Moderate
High

Top 5 positions24% of US stock

DISH DISH Network Corp. held held6.8%
TWLO Twilio Inc. added+2.46 pp added+2.464.9%
EXPE Expedia Group, Inc. trimmed+0.48 pp trimmed+0.484.3%
GOOGL Alphabet Inc. Class A added+2.43 pp added+2.434.2%
ABNB Airbnb, Inc. Class A added+3.70 pp added+3.704.2%

Positions53 in this filing · 26 exited


DISHDISH Network Corp.	6.80%	7,113,213	$257M	held	—	4 q
TWLOTwilio Inc.	4.89%	542,649	$185M	added+78%	+2.46 pp	3 q
EXPEExpedia Group, Inc.	4.32%	949,208	$163M	trimmed−23%	+0.48 pp	3 q
GOOGLAlphabet Inc. Class A	4.20%	77,000	$159M	added+79%	+2.43 pp	2 q
ABNBAirbnb, Inc. Class A	4.16%	837,500	$157M	added×6.3	+3.70 pp	2 q
BILIBilibili Inc.	3.54%	1,250,000	$134M	held	—	5 q
SESea Limited	3.14%	531,600	$119M	added+10%	+0.87 pp	10 q
CCLCarnival Corporation Ltd.	3.08%	4,394,166	$117M	new	+3.08 pp	new
PYPLPayPal Holdings, Inc.	3.07%	478,375	$116M	trimmed−21%	−0.27 pp	2 q
NOWServicenow, Inc.	2.88%	218,235	$109M	added+97%	+1.44 pp	2 q
ZZillow Group, Inc. Class C	2.84%	829,329	$108M	trimmed−43%	−1.60 pp	4 q
WYNNWynn Resorts Ltd	2.78%	838,000	$105M	new	+2.78 pp	new
BIDUBaidu, Inc.	2.58%	448,000	$97M	new	+2.58 pp	new
PDDPDD Holdings Inc.	2.54%	718,953	$96M	added+8%	−0.23 pp	5 q
LILi Auto Inc.	2.48%	3,750,001	$94M	held	—	3 q
BFHBread Financial Holdings, Inc.	2.45%	825,889	$93M	new	+2.45 pp	new
ASMLASML Holding NV	2.41%	148,000	$91M	added+6%	+0.81 pp	3 q
CZRCaesars Entertainment, Inc.	2.38%	1,027,866	$90M	trimmed−17%	+0.22 pp	3 q
SNAPSnap Inc.	2.37%	1,716,367	$90M	new	+2.37 pp	new
SIX1Six Flags Entertainment Corp.	2.35%	1,912,578	$89M	held	—	4 q
INTCIntel Corp	2.34%	1,380,966	$88M	new	+2.34 pp	new
LVSLas Vegas Sands Corp.	2.09%	1,298,859	$79M	new	+2.09 pp	new
unresolvedAtlassian Corp Plc	2.08%	373,000	$79M	added+17%	+0.32 pp	2 q
MTNVail Resorts, Inc.	2.02%	262,000	$76M	trimmed−21%	−0.15 pp	4 q
ONON Semiconductor Corp	1.93%	1,758,487	$73M	trimmed−70%	−2.55 pp	2 q
SMARSmartsheet Inc.	1.91%	1,130,000	$72M	new	+1.91 pp	new
ZENZendesk Inc	1.79%	512,085	$68M	new	+1.79 pp	new
MUMicron Technology, Inc.	1.72%	737,000	$65M	trimmed−54%	−1.10 pp	2 q
PLANAnaplan, Inc.	1.62%	1,136,437	$61M	added+20%	+0.02 pp	2 q
TALTAL Education Group	1.59%	1,119,000	$60M	added×6.7	+1.31 pp	4 q
INTUIntuit Inc	1.57%	155,481	$60M	trimmed−36%	−0.59 pp	2 q
ACMRACM Research, Inc. Class A	1.52%	710,102	$57M	new	+1.52 pp	new
AALAmerican Airlines Group Inc.	1.35%	2,133,418	$51M	new	+1.35 pp	new
FOURShift4 Payments, Inc.	1.32%	611,019	$50M	added+46%	+0.58 pp	2 q
VNETVNET Group, Inc.	1.28%	1,504,185	$49M	trimmed−32%	−0.51 pp	5 q
LAMRLamar Advertising Co	1.27%	511,000	$48M	new	+1.27 pp	new
CNXXConx Corp A	1.05%	4,000,000	$40M	new	+1.05 pp	new
TMETencent Music Entertainment Group	0.94%	1,741,000	$36M	new	+0.94 pp	new
XMQualtrics International Inc. Class A	0.87%	996,000	$33M	new	+0.87 pp	new
MCFEMcafee Corp - Class A	0.84%	1,400,000	$32M	held	—	2 q
MNSOMINISO Group Holding Limited	0.49%	765,000	$18M	trimmed−55%	−0.56 pp	2 q
unresolvedLead Edge Growth Oprtunts Lt	0.40%	1,500,000	$15M	new	+0.40 pp	new
APIAgora, Inc.	0.39%	296,000	$15M	new	+0.39 pp	new
TBAThoma Bravo Advantage-cl A	0.39%	1,408,486	$15M	new	+0.39 pp	new
ZLABZai Lab Limited	0.38%	109,000	$15M	trimmed−21%	−0.06 pp	4 q
unresolvedZhihu Inc	0.33%	1,550,000	$13M	new	+0.33 pp	new
FUTUFutu Holdings Limited	0.31%	74,000	$12M	new	+0.31 pp	new
HTHTH World Group Limited	0.21%	143,000	$8M	new	+0.21 pp	new
NBPNovaBridge Biosciences	0.19%	149,000	$7M	new	+0.19 pp	new
RLXRLX Technology Inc.	0.18%	653,000	$7M	new	+0.18 pp	new
TUYATuya Inc.	0.18%	327,000	$7M	new	+0.18 pp	new
UBERUber Technologies, Inc.	0.18%	125,155	$7M	trimmed−95%	−2.89 pp	6 q
CNXXWConx Corp Wts	0.03%	1,000,000	$1M	new	+0.03 pp	new
DISThe Walt Disney Company	—	−1,927,000	—	exited	−8.22 pp	—
STNEStoneCo Ltd. Class A	—	−1,919,577	—	exited	−3.79 pp	—
TMUST-Mobile US, Inc.	—	−1,053,000	—	exited	−3.34 pp	—
RUNSunrun Inc	—	−1,211,990	—	exited	−1.98 pp	—
AMDAdvanced Micro Devices	—	−827,390	—	exited	−1.79 pp	—
NIONIO Inc.	—	−1,500,000	—	exited	−1.72 pp	—
PINSPinterest, Inc. Class A	—	−1,052,712	—	exited	−1.63 pp	—
JDJD.com, Inc.	—	−747,393	—	exited	−1.55 pp	—
MTCHMatch Group, Inc	—	−416,492	—	exited	−1.48 pp	—
unresolvedOutfront Media Inc	—	−3,023,849	—	exited	−1.39 pp	—
LPSNLivePerson Inc	—	−816,000	—	exited	−1.20 pp	—
DALDelta Air Lines, Inc.	—	−1,230,000	—	exited	−1.16 pp	—
UALUnited Airlines Holdings, Inc.	—	−1,119,000	—	exited	−1.14 pp	—
FLEXFlex Ltd.	—	−2,609,167	—	exited	−1.10 pp	—
unresolvedConx Corp	—	−4,000,000	—	exited	−0.98 pp	—
AVLRAvalara, Inc.	—	−233,000	—	exited	−0.90 pp	—
FEYEFireEye, Inc.	—	−1,538,776	—	exited	−0.84 pp	—
unresolvedAzul Sa-adr	—	−1,524,000	—	exited	−0.82 pp	—
SNOWSnowflake Inc.	—	−123,700	—	exited	−0.82 pp	—
TENBTenable Holdings, Inc.	—	−593,000	—	exited	−0.73 pp	—
ADSKAutodesk Inc	—	−99,984	—	exited	−0.72 pp	—
TSLATesla, Inc.	—	−28,807	—	exited	−0.48 pp	—
AIYActivision Blizzard Inc	—	−128,662	—	exited	−0.28 pp	—
GDSGDS Holdings Limited	—	−87,063	—	exited	−0.19 pp	—
LEGNLegend Biotech Corporation	—	−203,000	—	exited	−0.13 pp	—
BEKEKE Holdings Inc.	—	−73,049	—	exited	−0.11 pp	—