SEC 13F Intelligence

Managers / Q3 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
$1.6B
Q3 2023
Positions
16
Filings on Record
30
2019–present window
Filed
Nov 14, 2023
original filing

Summary

Two Creeks Capital Management, LP reported $1.6B in U.S.-listed holdings across 16 positions for Q3 2023.

Its largest position, FND, represents 12.8% of the portfolio.

Compared with Q2 2023, the fund opened 1 new position and exited 1.

Portfolio Metrics

Turnover
+5.7%
vs prior filed quarter
Top-10 Concentration
+77.9%
share of reported value
Largest Position
+12.8%
Floor Decor
New / Exited
1 / 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: 75.4%ADR: 15.6%Other: 9.0%
  • Common Stock · 75.4% · $1.2B
  • ADR · 15.6% · $241M
  • Other · 9.0% · $140M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CPNGCOUPANG INCNEW+3.28M3.28M+$56M$56M
CLARIVATE PLCSOLD OUT−5.71M0−$54M$0
TYLTYLER TECHNOLOGIES INCADDED+38.4K111.0K+$13M$43M
ASPEN TECHNOLOGY INCTRIMMED−204.9K304.1K−$23M$62M
ADBEADOBE INCTRIMMED−59.4K131.8K−$26M$67M
ASML HOLDING N VADDED+24.3K135.8K−$903,078$80M
CMGCHIPOTLE MEXICAN GRILL INCADDED+7.8K44.8K+$3M$82M
LOWLOWES COS INCTRIMMED−143.1K705.0K−$45M$147M

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

Holdings — Q3 2023

16 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1FNDFLOOR & DECOR HLDGS INChistory →CL A12.75%$198M2.18M
2HDBHDFC BANK LTDhistory →SPONSORED ADS12.09%$187M3.18M
3VVISA INChistory →COM CL A11.46%$178M772.4K
4LOWLOWES COS INChistory →COM9.45%$147M705.0K
5ABNBAIRBNB INChistory →COM CL A6.92%$107M781.2K
6MAMASTERCARD INCORPORATEDhistory →CL A5.39%$84M211.2K
7CMGCHIPOTLE MEXICAN GRILL INChistory →COM5.30%$82M44.8K
8ASML HOLDING N VN Y REGISTRY SHS5.16%$80M135.8K
9GOOGALPHABET INChistory →CAP STK CL C4.82%$75M566.7K
10VRSNVERISIGN INChistory →COM4.59%$71M351.4K
11ADBEADOBE INChistory →COM4.34%$67M131.8K
12ASPEN TECHNOLOGY INCCOM4.01%$62M304.1K
13ICON PLCSHS3.87%$60M243.6K
14CPNGCOUPANG INChistory →CL A3.60%$56M3.28M
15BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS3.49%$54M622.9K
16TYLTYLER TECHNOLOGIES INChistory →COM2.77%$43M111.0K

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 ↗.