Robert Karr - Joho Capital 13F Activity & Position Changes (Q4 2014)

According to the SEC 13F filed on Aug 14, 2026, the Joho Capital portfolio showed several notable changes in holdings as of quarter-end Dec 31, 2014. 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 Q4 2014, the filing reported:

New Buys - None reported

Increases - Hexcel Corporation, Yelp Inc.

Reductions - Baidu, Inc., TAL Education Group, Veeco Instruments Inc., VNET Group, Inc.

Complete Exits - Vipshop Holdings Limited

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
Q4 2014	BIDU Baidu, Inc.	Baidu, Inc.	Sell	-143,000	-20.7%	$124.60K	546,550
Q4 2014	HXL Hexcel Corporation	Hexcel Corporation	Buy	+231,491	+37.0%	$35.55K	856,960
Q4 2014	TAL TAL Education Group	TAL Education Group	Sell	-46,268	-1.9%	$68.74K	2,447,262
Q4 2014	VECO Veeco Instruments Inc.	Veeco Instruments Inc.	Sell	-395,231	-36.1%	$24.35K	698,156
Q4 2014	VIPS Vipshop Holdings Limited	Vipshop Holdings Limited	Sell - Position Exit	-211,700	-100.0%	$0.00	-
Q4 2014	VNET VNET Group, Inc.	VNET Group, Inc.	Sell	-364,917	-31.3%	$12.38K	800,375
Q4 2014	YELP Yelp Inc.	Yelp Inc.	Buy	+290,000	+152.1%	$26.31K	480,677