SEC 13F Intelligence

Managers / Q4 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
Q4 2023
Positions
16
Filings on Record
30
2019–present window
Filed
Feb 14, 2024
original filing

Summary

Two Creeks Capital Management, LP reported $1.6B in U.S.-listed holdings across 16 positions for Q4 2023.

Its largest position, HDB, represents 15.6% of the portfolio.

The book was largely unchanged from Q3 2023.

Portfolio Metrics

Turnover
+5.4%
vs prior filed quarter
Top-10 Concentration
+80.8%
share of reported value
Largest Position
+15.6%
Hdfc Bank

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: 71.4%ADR: 18.6%Other: 10.0%
  • Common Stock · 71.4% · $1.1B
  • ADR · 18.6% · $297M
  • Other · 10.0% · $159M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ADBEADOBE INCTRIMMED−62.0K69.8K−$26M$42M
VRSNVERISIGN INCTRIMMED−113.6K237.8K−$22M$49M
FNDFLOOR & DECOR HLDGS INCTRIMMED−617.5K1.57M−$23M$175M
CPNGCOUPANG INCADDED+571.2K3.85M+$7M$62M
HDBHDFC BANK LTDADDED+536.4K3.71M+$62M$249M
CMGCHIPOTLE MEXICAN GRILL INCTRIMMED−6.2K38.7K+$6M$88M
ASPEN TECHNOLOGY INCTRIMMED−38.3K265.8K−$4M$59M
GOOGALPHABET INCTRIMMED−52.4K514.3K−$2M$72M

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

Holdings — Q4 2023

16 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1HDBHDFC BANK LTDhistory →SPONSORED ADS15.61%$249M3.71M
2VVISA INChistory →COM CL A12.78%$204M783.5K
3FNDFLOOR & DECOR HLDGS INChistory →CL A10.95%$175M1.57M
4LOWLOWES COS INChistory →COM9.04%$144M648.5K
5ABNBAIRBNB INChistory →COM CL A6.66%$106M781.2K
6ASML HOLDING N VN Y REGISTRY SHS6.05%$97M127.5K
7MAMASTERCARD INCORPORATEDhistory →CL A5.72%$91M214.2K
8CMGCHIPOTLE MEXICAN GRILL INChistory →COM5.54%$88M38.7K
9GOOGALPHABET INChistory →CAP STK CL C4.54%$72M514.3K
10ICON PLCSHS3.92%$63M221.4K
11CPNGCOUPANG INChistory →CL A3.91%$62M3.85M
12ASPEN TECHNOLOGY INCCOM3.66%$59M265.8K
13VRSNVERISIGN INChistory →COM3.07%$49M237.8K
14BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS3.02%$48M622.9K
15TYLTYLER TECHNOLOGIES INChistory →COM2.93%$47M111.9K
16ADBEADOBE INChistory →COM2.61%$42M69.8K

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 ↗.