Jerico
Jerico is a company.
Active
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Financial History
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Leadership Team
Key people at Jerico.
Jerico is a company.
Key people at Jerico.
Key people at Jerico.
Jericho Capital Asset Management L.P. is a New York-based hedge fund manager founded in 2009 by Josh Resnick, specializing in technology, media, telecom (TMT), entertainment, and consumer sectors through a concentrated long-short equity strategy.[1][4][5] The firm manages approximately $7.51 billion in discretionary assets across hedge funds and a private equity fund, with its flagship fund delivering strong performance, including 59.5% net gains in its best year on record and 12.1% gross year-to-date as of mid-2025.[1][2][3] Its investment philosophy emphasizes high-conviction bets on a limited portfolio—typically 20-25 stocks—with top holdings like AppLovin (9.77%), Netflix (6.99%), Oracle (6.13%), and NVIDIA (5.51%) driving returns amid TMT volatility.[1][2] Jericho influences the startup ecosystem by amplifying growth in high-potential tech firms through significant stakes and active positioning, as seen in boosts to holdings like Nutanix and Twilio.[1]
Jericho Capital was established in the first quarter of 2009 by Josh Resnick, a former managing director at TCS Group, amid the global financial crisis, initially focusing on tech, media, entertainment, telecom, and consumer opportunities.[1][5] Resnick built the firm from a concentrated long-short equity approach, growing it into a $5.5 billion U.S. stock portfolio by early 2025, with evolution marked by opportunistic shifts—like exiting Bitcoin trusts and pivoting to AI and cloud leaders.[1][2] Key milestones include historic 2024 gains (flagship up 59.5% net, Special Opportunities up 120.6%) and sustained 2025 performance (5.1% YTD), propelled by winners like AppLovin after its gaming divestiture.[1]
Jericho rides the AI infrastructure and ad tech resurgence, capitalizing on market forces like NVIDIA's dominance, cloud migrations (Nutanix, Oracle), and mobile monetization (AppLovin) amid 2025's TMT rebound.[1][2] Timing is ideal post-2024 volatility, where shorts failed on resilient names like AppLovin, whose $400M gaming sale unlocked value—Jericho's stake amplified this.[1] The firm shapes the ecosystem by concentrating capital in scalable tech (e.g., boosting Twilio and Nutanix stakes 18-47%), signaling conviction to markets and fostering startup liquidity through high-profile holdings.[1][2]
Jericho's momentum positions it for continued outperformance in a $7.5B AUM powerhouse, with portfolio shifts toward AI leaders (NVIDIA, ARM, Oracle top buys) and trims in maturing names (AppLovin, Netflix sells) hinting at rotation into next-gen compute and fintech.[2] Trends like hybrid cloud expansion and app economy recovery will propel it, potentially evolving influence via private equity for deeper startup bets. As TMT consolidates, Jericho's concentrated firepower—rooted in Resnick's 16-year vision—remains a high-conviction force in tech investing.[1][2][5]
