Robert Karr - Joho Capital 13F Activity & Position Changes (Q1 2025)

According to the SEC 13F filed on May 14, 2025, the Joho Capital portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2025, the filing reported:

New Buys - Taiwan Semiconductor Manufactur

Increases - Adobe Inc.

Reductions - Quanta Services, Inc.

Complete Exits - ANSYS, Inc., Bumble Inc., Constellation Brands, Inc.

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2025	ADBE Adobe Inc.	Adobe Inc.	Buy	+29,500	+15.5%	$84.15M	219,400
Q1 2025	ANSS ANSYS, Inc.	ANSYS, Inc.	Sell - Position Exit	-5,230	-100.0%	$0.00	-
Q1 2025	BMBL Bumble Inc.	Bumble Inc.	Sell - Position Exit	-675,000	-100.0%	$0.00	-
Q1 2025	PWR Quanta Services, Inc.	Quanta Services, Inc.	Sell	-18,450	-7.5%	$58.23M	229,193
Q1 2025	STZ Constellation Brands, Inc.	Constellation Brands, Inc.	Sell - Position Exit	-9,815	-100.0%	$0.00	-
Q1 2025	TSM Taiwan Semiconductor Manufactur	Taiwan Semiconductor Manufactur	Buy - Position Entry	+168,000	-	$27.89M	168,000