Jericho Capital Asset Administration, based in 2009 by Josh Resnick, is a New York-based hedge fund supervisor specializing in lengthy/quick fairness methods throughout developed and rising markets. Resnick established the agency with a give attention to figuring out market inefficiencies and capitalizing on each undervalued and overvalued securities. The funding administration agency specializes within the world know-how, media, and telecommunications (TMT) sectors, providing a spread of monetary planning, advisory, and asset administration providers to institutional purchasers and high-net-worth people.
As an funding advisor, Jericho Capital gives discretionary funding advisory providers to pooled funding automobiles, together with hedge funds and personal fairness funds. These funds are usually structured as master-feeder funds, the place feeder funds allocate their capital to a centralized grasp fund managed by the agency. This construction permits buyers to entry a diversified portfolio whereas benefiting from the agency’s experience in safety choice. Given the speculative nature of its methods, the agency cautions buyers in regards to the substantial dangers concerned, together with the potential for vital or full lack of capital.
Jericho Capital employs an extended/quick funding technique, aiming to generate returns by buying undervalued securities and short-selling overvalued ones. The agency may pursue particular alternatives methods, which might contain distinct transaction prices and pricing buildings. The success of those approaches depends closely on the agency’s capacity to precisely assess market alternatives, a course of that’s inherently advanced and topic to fluctuations. Market volatility and financial disruptions can result in unexpected losses, requiring the agency to make strategic changes to guard investor capital.
Regardless of the dangers, Jericho Capital’s strategy appeals to buyers searching for various funding methods with the potential for prime returns. By leveraging its experience in fairness markets, the agency positions itself as a key participant within the hedge fund business. Whereas its funding kinds contain substantial dangers, its monitor document and disciplined funding framework make it a notable alternative for these keen to embrace volatility in pursuit of long-term beneficial properties.
At present the founder and managing accomplice of Jericho Capital, Josh Resnick performed a key position at TCS Capital earlier than launching Jericho Capital. TCS Capital was a outstanding TMT-focused hedge fund that he joined shortly after its inception in 2001. Resnick’s intensive expertise in finance and funding spans a number of industries, with a give attention to figuring out high-growth alternatives inside quickly evolving markets. Previous to his tenure at TCS Capital, Resnick served as a Managing Director at KPE Ventures, a New York-based enterprise capital agency devoted to investments in media, leisure, and know-how. His experience in enterprise improvement was additional honed throughout his time at Fox Leisure Group in Los Angeles, the place he was a part of a strategic staff overseeing enlargement initiatives. He started his profession in funding banking at Bear Stearns, working within the media and leisure sector, the place he gained important expertise in mergers, acquisitions, and company finance.
Resnick holds a Bachelor of Arts diploma in Economics from Emory College, the place he graduated Summa Cum Laude. His tutorial background offered a robust basis for his profession in funding administration, equipping him with analytical expertise important for navigating advanced monetary markets. Past his skilled achievements, Resnick is actively concerned in philanthropy. He serves on the Board of Administrators of the Baby Thoughts Institute in New York Metropolis, a nonprofit group devoted to supporting kids with psychological well being and studying problems. His dedication to each finance and social affect underscores his well-rounded management within the funding world.
As of its newest submitting for the fourth quarter of 2024, Jericho Capital Asset Administration reported managing roughly $7 billion in 13F securities. The agency maintains a reasonably concentrated portfolio, with its prime ten holdings making up 64.13% of whole property. This degree of focus suggests a high-conviction funding technique, the place the agency locations vital emphasis on a choose group of shares it believes have robust progress potential. The agency’s funding selections replicate its give attention to the worldwide know-how, media, and telecommunications sectors, indicating confidence within the long-term progress prospects of those industries. General, Jericho Capital’s portfolio construction highlights its strategic focus and deep business experience. Its funding strategy aligns with a perception in innovation-driven sectors, making it a key participant within the hedge fund panorama.
The shares mentioned under had been picked from Jericho Capital Asset Administration’s This autumn 2024 13F filings. They’re compiled within the ascending order of the hedge fund’s stake in them as of December 31, 2024. To help readers with extra context, we’ve got included the hedge fund sentiment relating to every inventory utilizing information from 1009 hedge funds tracked by Insider Monkey within the fourth quarter of 2024.
Why are we within the shares that hedge funds pile into? The reason being easy: our analysis has proven that we will outperform the market by imitating the highest inventory picks of the perfect hedge funds. Our quarterly e-newsletter’s technique selects 14 small-cap and large-cap shares each quarter and has returned 373.4% since Might 2014, beating its benchmark by 218 proportion factors (see extra particulars right here).
Analyst Says Stay Nation Leisure (LYV) is ‘Extraordinarily Oversold’
A bunch of individuals in a big music venue, having fun with a vibrant live performance.
Variety of Hedge Fund Holders as of This autumn: 60
Jericho Capital Asset Administration’s Fairness Stake: $415.45 Million
Stay Nation Leisure, Inc. (NYSE:LYV), a worldwide chief in reside occasion promotion and ticket gross sales, reported record-breaking monetary outcomes for 2024, reflecting the surging demand for reside music. The corporate noticed its live performance attendance rise by 4%, with 151 million followers attending over 50,000 occasions worldwide—a rise of 9% from the earlier 12 months. This progress contributed to a record-high adjusted working earnings (AOI) for its live shows section, which surged by 65% to $530 million, with margins reaching 2.8%.
Stay Nation Leisure, Inc. (NYSE:LYV)’s total monetary efficiency was robust, with working earnings reaching $825 million and adjusted working earnings hitting $2.15 billion. The corporate additionally exceeded market expectations, reporting earnings of $0.56 per share for the quarter that led to December 2024, beating analyst estimates by $1.70. Income for the quarter got here in at $5.68 billion, surpassing projections by $22 million. CEO Michael Rapino highlighted 2024 as the most important 12 months but for reside music, with 2025 anticipated to be even stronger, pushed by a strong world live performance pipeline and an rising variety of stadium reveals. To assist this momentum, Stay Nation Leisure, Inc. (NYSE:LYV) is investing in music-centric venues and increasing its assist for artists, with investments in performers greater than doubling over the previous 5 years.
Wanting forward, the corporate stays targeted on long-term progress by reinvesting within the reside music business whereas enhancing the fan expertise. Stay Nation Leisure, Inc. (NYSE:LYV)’s technique contains constructing new venues to accommodate rising demand, guaranteeing its working earnings and AOI proceed to develop at double-digit charges. As reside music stays a dominant drive in world leisure, the corporate’s dedication to artists, followers, and infrastructure positions it for continued success within the coming years.
By the top of This autumn 2024, Resnick owned greater than 3.2 million shares of Stay Nation Leisure, Inc. (NYSE:LYV), with a complete worth of roughly $415.45 million. This positioned the inventory because the fourth-highest on the record of prime 10 shares to purchase in response to Jericho Capital Asset Administration.
General, LYV ranks 4th on our record of prime shares to purchase in response to Jericho Capital Asset Administration. Whereas we acknowledge the potential for LYV as an funding, our conviction lies within the perception that some AI shares maintain better promise for delivering increased returns and doing so inside a shorter timeframe. If you’re on the lookout for an AI inventory that’s extra promising than LYV however that trades at lower than 5 occasions its earnings, try our report in regards to the most cost-effective AI inventory.
