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.

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

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!