Joho Capital and Robert Karr’s Portfolio and Performance

Joho Capital is a New York based hedge fund established by Robert Karr in 1996. Robert Karr is one of Julian Robertson’s disciples, commonly known as the Tiger cubs. We recently wrote an article regarding our study which determined the alpha of Julian Robertson’s Tiger Cubs. Robert Karr at Joho Capital adopts a long-term strategy. Joho Capital invests mostly in companies of Asian markets like Japan and China.

Julian Robertson

During the second quarter, Joho Capital sold off Baidu Inc (BIDU), China Kanghui Holdings (KH), and NVIDIA Corp (NVDA). The timing was perfect as these companies failed to realize positive returns since the end of June. China Kanghui Holdings (KH) lost 20% and NVIDIA Corp (NVDA) lost 19%. Moreover, in the second quarter, Joho Capital reduced Mindray Medical Intl Ltd (MR) by 50% and RDA Mircoelectronics Inc (RDA) by 56%. Since the end of June, Mindray lost 11% while RDA gained 6%.

Joho Capital: Portfolio and Returns

New Oriental Educ & Tech Gp Inc (EDU) makes up 24.87% of Joho Capital’s equity portfolio. Joho Capital profited from its $159 million investment in the company as EDU returned 6% since the end of June. Robert Karr has the second largest position in the company preceded by Stephen Mandel (see Stephen Mandel’s latest stock picks).

Estee Lauder Companies Inc (EL) is the second largest holding of Joho Capital’s equity portfolio. Since the end of June, Estee Lauder lost 9%. In the second quarter, Joho Capital reduced Estee Lauder by 9%. Robert Karr’s Joho Capital has the third highest position in the company. The highest position is again held by fellow tiger cubs Stephen Mandel and Andreas Halvorsen’s Viking Global (check out other holdings of Andreas Halvorsen). Both reduced stake in the company in the second quarter.

Google Inc (GOOG) gained 4% since the end of June. During the second quarter Joho Capital increased its stake in the company by 7%. Karr is not the only investor bullish about Google. Famous investors like Jim Simons, Ken Griffin, Stephen Mandel, John Griffin, and Ken Fisher also have stakes in the company. Ken Fisher increased Google by 5057% during the second quarter (see Ken Fisher’s portfolio).

Joho Capital also profited from its investment in Tal Education Group (XRS). Since the end of June, Tal has gained 15%. Joho Capital has $19.7 million invested in the company. Robert Karr has the highest stake in Tal followed by another Tiger cub, Chase Coleman. Chase Coleman’s Tiger Global Management has $8.68 million invested in Tal. (See Chase Coleman’s latest stock holdings)

Joho Capital: Overall Return

Joho Capital’s top stock picks lost 4.2% since the end of June, vs. 10.7% decline in the SPY. Robert Karr managed to beat the market by 6.5 percentage points in two months. That’s one of the reasons why we track Joho Capital.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!