Robert Karr - Joho Capital Investment Strategy & Portfolio Analysis

As of Mar 31, 2026, Robert Karr's Joho Capital portfolio reflects a highly concentrated, high-conviction approach across 9 reported 13F positions. Portfolio returns are primarily driven by a small set of mega-cap compounders, with the top five holdings accounting for approximately 90% of total exposure and Microsoft alone contributing ~31%. Economic outcomes are highly concentrated in a narrow set of large-cap technology and growth-oriented names. Exposure to high-growth and technology-oriented segments is elevated relative to peers, with performance anchored in growth-oriented names across technology, consumer discretionary, and unknown. The portfolio exhibits low turnover, consistent with a buy-and-hold posture held through multiple reporting cycles. Distinctive traits include Moderate Turnover, Highly Concentrated, Economically Concentrated.