SEC 13F Intelligence

Managers / Q2 2023 · view latest →

Two Creeks Capital Management, LP

CIK 0001606430 · 40 WEST 57TH STREET, 18TH FLOOR, NEW YORK, NY, 10019 · 212-373-1240

Reported Value
$1.7B
Q2 2023
Positions
16
Filings on Record
30
2019–present window
Filed
Aug 14, 2023
original filing

Summary

Two Creeks Capital Management, LP reported $1.7B in U.S.-listed holdings across 16 positions for Q2 2023.

Its largest position, HDB, represents 12.9% of the portfolio.

Compared with Q1 2023, the fund opened 2 new positions and exited 1.

Portfolio Metrics

Turnover
+5.5%
vs prior filed quarter
Top-10 Concentration
+78.7%
share of reported value
Largest Position
+12.9%
Hdfc Bank
New / Exited
2 / 1
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $1.5BQ4 ’18Q1 ’19: $1.5BQ2 ’19: $1.6BQ3 ’19: $1.5BQ4 ’19: $1.5BQ4 ’19Q1 ’20: $1.2BQ2 ’20: $1.4BQ3 ’20: $1.5BQ4 ’20: $1.8BQ4 ’20Q1 ’21: $1.6BQ2 ’21: $1.8BQ3 ’21: $1.9BQ4 ’21: $2.0BQ4 ’21Q1 ’22: $1.8BQ2 ’22: $1.5BQ3 ’22: $1.4BQ4 ’22: $1.4BQ4 ’22Q1 ’23: $1.5BQ2 ’23: $1.7BQ3 ’23: $1.6BQ4 ’23: $1.6BQ4 ’23Q1 ’24: $1.7BQ2 ’24: $1.6BQ3 ’24: $1.5BQ4 ’24: $1.6BQ4 ’24Q1 ’25: $1.6BQ2 ’25: $1.5BQ3 ’25: $1.4BQ4 ’25: $1.2BQ4 ’25Q1 ’26: $974Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 72.2%ADR: 16.0%Other: 11.8%
  • Common Stock · 72.2% · $1.2B
  • ADR · 16.0% · $267M
  • Other · 11.8% · $196M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ICON PLCNEW+243.6K243.6K+$61M$61M
TYLTYLER TECHNOLOGIES INCNEW+72.6K72.6K+$30M$30M
ASPEN TECHNOLOGY INCADDED+358.8K509.0K+$51M$85M
BERYEURBERRY GLOBAL GROUP INCSOLD OUT−697.7K0−$41M$0
MAMASTERCARD INCORPORATEDADDED+79.1K213.9K+$35M$84M
ADBEADOBE SYSTEMS INCORPORATEDTRIMMED−127.1K191.3K−$29M$94M
ABNBAIRBNB INCADDED+134.6K714.0K+$19M$92M
GOOGALPHABET INCTRIMMED−121.4K633.9K−$2M$77M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2023

16 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1HDBHDFC BANK LTDhistory →SPONSORED ADS12.92%$215M3.08M
2FNDFLOOR & DECOR HLDGS INChistory →CL A11.74%$195M1.88M
3LOWLOWES COS INChistory →COM11.52%$191M848.1K
4VVISA INChistory →COM CL A11.21%$186M784.9K
5ADBEADOBE SYSTEMS INCORPORATEDhistory →COM5.63%$94M191.3K
6ABNBAIRBNB INChistory →COM CL A5.51%$92M714.0K
7VRSNVERISIGN INChistory →COM5.16%$86M379.3K
8ASPEN TECHNOLOGY INCCOM5.13%$85M509.0K
9MAMASTERCARD INCORPORATEDhistory →CL A5.06%$84M213.9K
10ASML HOLDING N VN Y REGISTRY SHS4.86%$81M111.6K
11CMGCHIPOTLE MEXICAN GRILL INChistory →COM4.77%$79M37.0K
12GOOGALPHABET INChistory →CAP STK CL C4.61%$77M633.9K
13ICON PLCSHS3.67%$61M243.6K
14CLARIVATE PLCORD SHS3.27%$54M5.71M
15BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS3.12%$52M622.9K
16TYLTYLER TECHNOLOGIES INChistory →COM1.82%$30M72.6K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$974M22May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$1.2B26Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$1.4B25Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$1.5B27Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$1.6B23May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$1.6B22Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$1.5B18Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$1.6B18Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$1.7B17May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$1.6B16Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$1.6B16Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$1.7B16Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$1.5B15May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$1.4B14Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$1.4B13Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$1.5B16Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$1.8B15May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$2.0B17Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.9B18Oct 26, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.8B16Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.6B16May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.8B16Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.5B17Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.4B17Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$1.2B17May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$1.5B20Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$1.5B20Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$1.6B20Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$1.5B21May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$1.5B22Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.