Robert Karr - Joho Capital 13F Activity & Position Changes (Q4 2025)

According to the SEC 13F filed on Feb 17, 2026, the Joho Capital portfolio showed several notable changes in holdings as of quarter-end Dec 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 Q4 2025, the filing reported:

New Buys - None reported

Increases - Walmart Inc.

Reductions - Microsoft Corporation, Procter & Gamble Company (The), Quanta Services, Inc., Taiwan Semiconductor Manufactur

Complete Exits - None reported

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 2025	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-49,400	-12.1%	$173.76M	359,300
Q4 2025	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Sell	-7,300	-58.2%	$752.38K	5,250
Q4 2025	PWR Quanta Services, Inc.	Quanta Services, Inc.	Sell	-112,383	-96.5%	$1.73M	4,110
Q4 2025	TSM Taiwan Semiconductor Manufactur	Taiwan Semiconductor Manufactur	Sell	-59,000	-23.7%	$57.77M	190,100
Q4 2025	WMT Walmart Inc.	Walmart Inc.	Buy	+9,800	+88.7%	$2.32M	20,850