Robert Karr - Joho Capital Investment Strategy (Sep 30, 2025)
As of Sep 30, 2025, the Joho Capital portfolio managed by Robert Karr demonstrates a sophisticated investment approach with 28 positions and an average holding period of 636 quarters. The strategy focuses on Communication Services, Consumer Cyclical, Consumer Defensive, Industrials, Real Estate, Technology sectors with a typical position size of 7.8% of the portfolio.
The portfolio's risk management approach includes a maximum position size of 7.81% and sector diversification of 6%, exemplified by the case study of MICROSOFT CORP (MSFT). This strategic framework provides insights into Robert Karr's investment philosophy, risk management practices, and long-term value creation approach.
Investment Strategy Metrics
Key metrics revealing investment style, risk management, and performance characteristics
| Metric | Value | Category | Description |
|---|---|---|---|
| Holding Period | 1.7 years | Style | Average duration positions are maintained |
| Position Count | 28 | Style | Number of active positions in portfolio |
| Position Size | 7.8% | Risk | Typical allocation per position |
| Win Rate | 53.6% | Performance | Percentage of profitable positions |
| Average Return | 11.5% | Performance | Mean return across positions |
| Sharpe Ratio | 0.20 | Performance | Return per unit of risk taken |
Investment Case Study: MICROSOFT CORP (MSFT)
3/31/2019 - 12/26/2025
Performance Metrics
Total Return: 105.91%
Holding Period: 2462 days
Max Position Size: $245,065,268.00
Position Weight: 28.81%
Key Events
Investment Thesis
Entry Context: Initial position established based on fundamental analysis
Sector Conditions: Favorable market conditions in the sector
- Market volatility
- Sector-specific risks
Key Learnings
- Position sizing is critical for portfolio management
- Important to monitor sector exposure