Jericho Capital Asset Management
Jericho Capital Asset Management, led by Josh Resnick, manages approximately $6.76 billion in assets. Resnick, who founded the firm, is known for his deep analytical approach to tech and media investments, focusing on value and special situations. The firm typically maintains a concentrated portfolio, emphasizing significant research and a long-term perspective in its investment decisions.
AUM figures shown are calculated by summing the reported market value of all positions in SEC 13F-HR filings — not the fund's actual assets under management.
- Excludes cash, bonds, private equity, short positions, and foreign-listed stocks not required to be reported.
- For PUT and CALL options, the reported Value is the notional value of the underlying shares — not the option premium paid. This significantly overstates the actual capital at risk.
- Actual fund AUM is typically higher and includes strategies, instruments, and positions that never appear in a 13F.
- 13F filings cover institutional managers with ≥$100M in 13F securities. Positions reflect end-of-quarter holdings, disclosed up to 45 days after the period ends.
Data sourced from SEC EDGAR. This tracker is for informational purposes only and does not constitute investment advice.
Portfolio Holdings
Top 23 positions
| Ticker | Issuer | Notional | Port % | @ Filing | Now (EOD) | Since Filing | Allocation |
|---|---|---|---|---|---|---|---|
| FFIV | $764.7M | 11.30% | $289.33 | $417.63 | +44.3% | 11.3% | |
| APP | $667.5M | 9.87% | $398.00 | $531.62 | +33.6% | 9.9% | |
| CIEN | $643.0M | 9.50% | $388.23 | $417.45 | +7.5% | 9.5% | |
| LYV | $599.0M | 8.85% | $152.51 | $184.00 | +20.6% | 8.8% | |
| FWONK | $446.2M | 6.60% | $85.02 | $98.97 | +16.4% | 6.6% | |
| FOXA | $390.4M | 5.77% | $58.40 | $55.06 | -5.7% | 5.8% | |
| GOOGL | $321.5M | 4.75% | $287.39 | $367.15 | +27.8% | 4.8% | |
| AMAT | $309.1M | 4.57% | $341.37 | $549.99 | +61.1% | 4.6% | |
| SPHR | $305.9M | 4.52% | $117.40 | $156.23 | +33.1% | 4.5% | |
| NVDA | $287.2M | 4.25% | $174.40 | $196.10 | +12.4% | 4.3% | |
| MDB | $243.9M | 3.61% | $244.77 | $359.80 | +47.0% | 3.6% | |
| SNOW | $240.1M | 3.55% | $150.82 | $263.10 | +74.5% | 3.5% | |
| MSGE | $215.8M | 3.19% | $58.91 | $75.22 | +27.7% | 3.2% | |
| KTOS | $186.8M | 2.76% | $70.51 | $50.42 | -28.5% | 2.8% | |
| LION | $180.4M | 2.67% | $9.59 | $14.03 | +46.3% | 2.7% | |
| CORZ | $175.4M | 2.59% | $14.96 | $21.59 | +44.3% | 2.6% | |
| WDC | $157.3M | 2.33% | $270.42 | $530.28 | +96.1% | 2.3% | |
| NTNX | $149.0M | 2.20% | $38.01 | $53.94 | +41.9% | 2.2% | |
| WK | $147.0M | 2.17% | $59.63 | $52.88 | -11.3% | 2.2% | |
| DOCU | $142.2M | 2.10% | $47.41 | $47.53 | +0.3% | 2.1% | |
| TWLO | $87.8M | 1.30% | $125.82 | $212.91 | +69.2% | 1.3% | |
| AD | $83.8M | 1.24% | $36.44 | $34.86 | -4.3% | 1.2% | |
| LSCC | $20.6M | 0.30% | $92.76 | $130.15 | +40.3% | 0.3% |
Quarter-on-Quarter Activity
Q1 2026 vs. Q4 2025
New Positions (6)
| Ticker | Issuer | Notional | Since Filing |
|---|---|---|---|
| AMAT | $309.1M | +61.1% | |
| KTOS | $186.8M | -28.5% | |
| WDC | $157.3M | +96.1% | |
| WK | $147.0M | -11.3% | |
| TWLO | $87.8M | +69.2% | |
| LSCC | $20.6M | +40.3% |
Exited Positions (8)
| Ticker | Issuer | Notional |
|---|---|---|
| NFLX | $406.2M | |
| CFLT | $335.5M | |
| AFRM | $268.0M | |
| META | $262.6M | |
| UPST | $219.2M | |
| AMBA | $112.4M | |
| GTM | $89.4M | |
| SRAD | $75.1M |
Increased (6)
| Ticker | Issuer | Notional | Shares Δ | Since Filing |
|---|---|---|---|---|
| LION | $129.3M | +236.0% | +46.3% | |
| FOXA | $173.2M | +124.9% | -5.7% | |
| NTNX | $-11.6M | +26.2% | +41.9% | |
| FFIV | $185.0M | +16.4% | +44.3% | |
| FWONK | $-1.3M | +15.5% | +16.4% | |
| SNOW | $-105.5M | +1.0% | +74.5% |
Trimmed (6)
| Ticker | Issuer | Notional | Shares Δ | Since Filing |
|---|---|---|---|---|
| NVDA | $-657.0M | -67.5% | +12.4% | |
| DOCU | $-183.0M | -36.9% | +0.3% | |
| APP | $-744.3M | -20.0% | +33.6% | |
| GOOGL | $-96.7M | -16.3% | +27.8% | |
| CORZ | $-14.5M | -10.1% | +44.3% | |
| LYV | $29.5M | -1.7% | +20.6% |
Quarter Activity
During the quarter, Jericho Capital Asset Management initiated significant new positions in Applied Materials (AMAT), Kratos Defense & Security Solutions (KTOS), and Western Digital Corporation (WDC), reflecting a notable investment in technology and defense sectors. The fund also exited substantial positions in Netflix (NFLX), Confluent (CFLT), and Affirm Holdings (AFRM), indicating a strategic shift away from these companies. Additionally, there was a meaningful increase in the fund's stake in Lion Electric (LION) and a notable reduction in its position in NVIDIA Corporation (NVDA).
AI Commentary
<p>Jericho Capital Asset Management's portfolio showcases a significant concentration in technology and media sectors. The top holdings include F5 Inc (FFIV) with an 11.3% stake valued at $765 million, followed by AppLovin Corp (APP) and Ciena Corp (CIEN) holding 9.9% and 9.5% of the portfolio respectively. Other notable positions include Live Nation Entertainment Inc (LYV) and Liberty Media Corp Delaware (FWONK), emphasizing the fund's focus on entertainment and media alongside technology. This sector concentration suggests a strategic belief in the growth potential and resilience of tech and media industries.</p> <p>The recent quarter's activity indicates a strategic shift in Jericho Capital's investment thesis. The fund opened new positions in Applied Materials Inc (AMAT) and Kratos Defense & Security Solutions Inc (KTOS), suggesting a pivot towards materials and defense sectors. The closure of positions in high-profile tech stocks like Netflix Inc (NFLX), Affirm Holdings Inc (AFRM), and Meta Platforms Inc (META) coupled with significant reductions in NVIDIA Corporation (NVDA) and DocuSign Inc (DOCU) reflect a recalibration away from certain tech sub-sectors. This could signal concerns about valuation or growth prospects in the digital and consumer tech spaces. The substantial increase in positions like Lion Electric (LION) and Fox Corp (FOXA) further underscores a strategic realignment towards specific media and sustainable technologies.</p>