Two Creeks Capital Management, LP
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Two Creeks Capital Management, LP reported 17 stock positions worth $1.7 billion. Its top holding was Visa Class A (V) at 12.5% of the portfolio, followed by Floor & Decor Class A (FND, 10.6%) and HDFC Bank Ltd.-ADR (HDB, 9.5%). Compared with Q4 2023, it opened 3 new positions, sold out of 2, added to 4 and reduced 10. The biggest buy was a new position in CRH (CRH) and the biggest sale HDFC Bank Ltd.-ADR (HDB, shares −21%).
- Most Recent 13F
- Q3 2026
- Location
- NEW YORK, NY
- CIK
- 0001606430
- Portfolio Value
- $1.7B (Q1 2024)
- SEC Filing
- 0001172661-24-002454 ↗ filed May 15, 2024
Holdings Value
Holdings 17 stocks · $1.7B
| V Visa Inc. Class A | 12.48% | 776,128 | $216.6M | Reduce -0.9% |
| FND Floor & Decor Holdings Inc. Class A | 10.55% | 1,413,096 | $183.2M | Reduce -9.8% |
| HDB HDFC Bank Ltd.-ADR | 9.47% | 2,937,654 | $164.4M | Reduce -20.9% |
| LOW Lowe's Cos Inc. | 7.75% | 527,939 | $134.5M | Reduce -18.6% |
| AZPN Aspen Technology Inc. | 7.66% | 623,531 | $133.0M | Add +134.6% |
| ADBE Adobe Inc. | 6.88% | 236,598 | $119.4M | Add +238.7% |
| ABNB Airbnb Inc. Class A | 6.36% | 668,560 | $110.3M | Reduce -14.4% |
| ASML ASML Holding NV-NY Reg SHS | 4.90% | 87,647 | $85.1M | Reduce -31.3% |
| MA Mastercard Inc. Class A | 4.88% | 176,002 | $84.8M | Reduce -17.9% |
| CRH CRH PLC | 4.83% | 971,969 | $83.8M | New |
| ICLR Icon PLC | 4.47% | 230,934 | $77.6M | Add +4.3% |
| CMG Chipotle Mexican Grill Inc. | 4.34% | 25,939 | $75.4M | Reduce -32.9% |
| GOOG Alphabet Inc. Class C | 3.90% | 444,834 | $67.7M | Reduce -13.5% |
| PLNT Planet Fitness Inc. Class A | 3.65% | 1,010,970 | $63.3M | New |
| CPNG Coupang Inc. | 3.21% | 3,132,222 | $55.7M | Reduce -18.7% |
| TYL Tyler Technologies Inc. | 2.86% | 116,698 | $49.6M | Add +4.3% |
| KLAC KLA Corp. | 1.79% | 44,440 | $31.0M | New |
Portfolio Sells Q4 2023 → Q1 2024
| HDB HDFC Bank Ltd.-ADR | Reduce -20.9% | 9.47% | −6.13 |
| VRSN Verisign Inc. | Sold out | 0.00% | −3.07 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −3.02 |
| LOW Lowe's Cos Inc. | Reduce -18.6% | 7.75% | −1.29 |
| CMG Chipotle Mexican Grill Inc. | Reduce -32.9% | 4.34% | −1.19 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -31.3% | 4.90% | −1.14 |
| MA Mastercard Inc. Class A | Reduce -17.9% | 4.88% | −0.84 |
| CPNG Coupang Inc. | Reduce -18.7% | 3.21% | −0.69 |
| GOOG Alphabet Inc. Class C | Reduce -13.5% | 3.90% | −0.64 |
| FND Floor & Decor Holdings Inc. Class A | Reduce -9.8% | 10.55% | −0.39 |
| ABNB Airbnb Inc. Class A | Reduce -14.4% | 6.36% | −0.31 |
| V Visa Inc. Class A | Reduce -0.9% | 12.48% | −0.29 |
Portfolio Buys Q4 2023 → Q1 2024
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q3 2026 | 0 | $0 | |
| Q2 2026 | 13 | $139.5M | ACWI, FND, V, TSM, ASML |
| Q1 2026 | 21 | $947.0M | TLN, UBER, DHR, V, TSM |
| Q4 2025 | 26 | $1.2B | FND, V, MIR, CMG, DHR |
| Q3 2025 | 25 | $1.4B | FND, CMG, ASML, MIR, UBER |
| Q2 2025 | 25 | $1.5B | FND, TLN, UBER, FLUT, V |
| Q1 2025 | 23 | $1.6B | FND, V, LOW, CMG, EQT |
| Q4 2024 | 22 | $1.6B | V, FND, LOW, CRH, PLNT |
| Q3 2024 | 18 | $1.5B | FND, LOW, V, PLNT, ABNB |
| Q2 2024 | 18 | $1.6B | V, FND, LOW, CRH, ABNB |
| Q1 2024 | 17 | $1.7B | V, FND, HDB, LOW, AZPN |