13F filer · CIK 1777813 ↗

Atreides Management

Gavin BakerManaging Partner and Chief Investment Officer

You are looking at Q1 2020. See the latest, Q2 2026 →

Reported value

$452.2M

+3.7% on the quarter before

Positions

7 new · 10 sold out

Top 10

60.7%

of the value

Est. gain

−$29.8M

on stocks held all quarter

Est. return

−11.5%

on those stocks since Q4 2019

Filed

May 15, 2020

On SEC EDGAR ↗

Positions as of Mar 31, 2020, from Atreides Management's 13F filing with the SEC. A 13F lists a manager's US-listed stocks and options at a quarter end and is filed up to 45 days later, so the fund may hold something else today. It leaves out short positions, cash and holdings outside the US.

Portfolio at a glance

New
Added
Cut
Same
Options

Each tile is a position, sized by its share, colored by what the fund did with it since Q4 2019. Striped tiles are options.

Activision Blizzard Inc9.2%

Walt Disney Company (The)7.7%Block7.6%Alphabet6.9%

Restaurant Brands Intl Inc5.3%

Comcast Corp New5.2%

Tesla5.1%Amazon4.7%

Take-Two Interactive Softwar4.6%

Twilio4.4%

Elastic N V4.3%

Nvidia4.1%Micron3.9%

Redfin Corp3.6%

Ulta Beauty Inc3.5%

Mcdonalds Corp3.4%

Dynatrace2.7%

Angi Homeservices Inc2.5%

Roku Inc2.3%

Carvana Co2.2%

Par Technology Corp2.0%

Chewy Inc1.9%

Nike Inc1.5%

CrowdStrike1.3%

Activision Blizzard Inc9.2%

Walt Disney Company (The)7.7%Block7.6%Alphabet6.9%

Restaurant Brands Intl Inc5.3%

Comcast Corp New5.2%

Tesla5.1%Amazon4.7%

Take-Two Interactive Softwar4.6%

Twilio4.4%

Elastic N V4.3%

Nvidia4.1%Micron3.9%

Redfin Corp3.6%

Ulta Beauty Inc3.5%

Mcdonalds Corp3.4%

Dynatrace2.7%

Angi Homeservices Inc2.5%

Roku Inc2.3%

Carvana Co2.2%

Par Technology Corp2.0%

Chewy Inc1.9%

Nike Inc1.5%

CrowdStrike1.3%

Largest buys

Since Q4 2019, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.

Comcast Corp New~$23.6MNew · 0.0% → 5.2%+687,200 shares
Block~$21.8MAdded · 3.5% → 7.6%+416,022 shares
Amazon~$21.3MNew · 0.0% → 4.7%+10,900 shares
Walt Disney Company (The)~$19.2MAdded · 5.3% → 7.7%+198,400 shares
Restaurant Brands Intl Inc~$18.0MAdded · 2.2% → 5.3%+450,614 shares
Mcdonalds Corp~$15.5MNew · 0.0% → 3.4%+93,800 shares
Dynatrace~$12.2MNew · 0.0% → 2.7%+513,800 shares
Micron~$12.2MAdded · 1.6% → 3.9%+290,500 shares
Ulta Beauty Inc~$10.5MAdded · 1.7% → 3.5%+60,000 shares
Carvana Co~$10.0MNew · 0.0% → 2.2%+180,700 shares

Largest sells

Since Q4 2019, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.

Meta~$27.5MSold out · 6.3% → 0.0%−133,827 shares
AMD~$25.0MSold out · 5.7% → 0.0%−544,885 shares
Nvidia~$18.7MCut · 7.6% → 4.1%−71,100 shares
Wayfair Inc~$16.7MSold out · 3.8% → 0.0%−184,619 shares
Snap~$16.3MSold out · 3.8% → 0.0%−1,001,100 shares
Lyft Inc~$16.3MSold out · 3.7% → 0.0%−378,356 shares
AMDPUT~$12.5MSold out · 2.9% → 0.0%−272,000 underlying
Tesla~$12.2MCut · 6.5% → 5.1%−23,220 shares
Zendesk Inc~$11.1MSold out · 2.5% → 0.0%−144,268 shares
NvidiaPUT~$10.0MSold out · 2.3% → 0.0%−42,500 underlying

Holdings

As of Mar 31, 2020. Changes are in shares against Dec 31, 2019, so a price move alone never reads as a buy or a sale.

Positions, sorted by share of the portfolio
#	Holding		% prev	Value	Shares		Price	Prev price
1	Activision Blizzard IncCOM · shares +13% · price +0.1%	9.2%	8.4%	$41.5M	697,246	+13%	$59.48	$59.42	+0.1%	+$36,726
2	Walt Disney Company (The)COM DISNEY · shares +124% · price −33.2%	7.7%	5.3%	$34.7M	359,020	+124%	$96.60	$144.63	−33.2%	−$7.7M
3	BlockCL A · shares +172% · price −16.3%	7.6%	3.5%	$34.4M	657,422	+172%	$52.38	$62.56	−16.3%	−$2.5M
4	AlphabetCAP STK CL A · shares +35% · price −13.2%	6.9%	6.2%	$31.4M	27,041	+35%	$1,161.94	$1,339.40	−13.2%	−$3.6M
5	Restaurant Brands Intl IncCOM · shares +306% · price −37.2%	5.3%	2.2%	$23.9M	598,014	+306%	$40.03	$63.77	−37.2%	−$3.5M
6	Comcast Corp NewCL A · shares New	5.2%	—	$23.6M	687,200	New	$34.38	—	—	—
7	TeslaCOM · shares −34% · price +25.3%	5.1%	6.5%	$23.3M	44,401	−34%	$524.00	$418.33	+25.3%	+$4.7M
8	AmazonCOM · shares New	4.7%	—	$21.3M	10,900	New	$1,949.72	—	—	—
9	Take-Two Interactive SoftwarCOM · shares +4.2% · price −3.1%	4.6%	4.7%	$20.7M	174,660	+4.2%	$118.61	$122.43	−3.1%	−$640,114
10	TwilioCL A · shares +60% · price −8.9%	4.4%	3.1%	$19.9M	222,335	+60%	$89.49	$98.28	−8.9%	−$1.2M
11	Elastic N VORD SHS · shares +101% · price −13.2%	4.3%	2.6%	$19.5M	349,800	+101%	$55.81	$64.30	−13.2%	−$1.5M
12	NvidiaCOM · shares −50% · price +12.0%	4.1%	7.6%	$18.6M	70,448	−50%	$263.60	$235.30	+12.0%	+$2.0M
13	MicronCOM · shares +224% · price −21.8%	3.9%	1.6%	$17.7M	420,300	+224%	$42.06	$53.78	−21.8%	−$1.5M
14	Redfin CorpCOM · shares −1.2% · price −27.1%	3.6%	5.2%	$16.5M	1.1M	−1.2%	$15.42	$21.14	−27.1%	−$6.1M
15	Ulta Beauty IncCOM · shares +207% · price −30.6%	3.5%	1.7%	$15.6M	89,000	+207%	$175.70	$253.14	−30.6%	−$2.2M
16	Mcdonalds CorpCOM · shares New	3.4%	—	$15.5M	93,800	New	$165.35	—	—	—
17	DynatraceCOM · shares New	2.7%	—	$12.2M	513,800	New	$23.84	—	—	—
18	Angi Homeservices IncCOM CL A · shares +16% · price −38.0%	2.5%	3.7%	$11.5M	2.2M	+16%	$5.25	$8.47	−38.0%	−$6.1M
19	Roku IncCOM CL A · shares +1,315% · price −34.7%	2.3%	0.26%	$10.4M	118,685	+1,315%	$87.48	$133.88	−34.7%	−$389,187
20	Carvana CoCL A · shares New	2.2%	—	$10.0M	180,700	New	$55.09	—	—	—
21	Par Technology CorpCOM · shares New	2.0%	—	$9.0M	699,100	New	$12.86	—	—	—
22	Chewy IncCL A · shares +2.7% · price +29.3%	1.9%	1.4%	$8.4M	223,564	+2.7%	$37.49	$29.00	+29.3%	+$1.8M
23	Nike IncCL B · shares −39% · price −18.3%	1.5%	3.1%	$6.7M	80,400	−39%	$82.74	$101.31	−18.3%	−$1.5M
24	CrowdStrikeCL A · shares New	1.3%	—	$6.0M	107,800	New	$55.68	—	—	—
	Total · 24 positions	100%		$452.2M						−$29.8M

The filing on SEC EDGAR ↗

Price is a stock's reported value over its shares at the quarter end. The estimated gain is the shares held at both quarter ends times the change in that price: shares bought or sold during the quarter add nothing, options are left out, and a stock split is read into the earlier share count and price.

What made money

From Q4 2019 to Q1 2020: 17 stocks held throughout, down $29.8M (−11.5%).

Tesla+$4.7M+25%
Nvidia+$2.0M+12%
Chewy Inc+$1.8M+29%
Activision Blizzard Inc+$36,726+0%
Restaurant Brands Intl Inc−$3.5M−37%
Alphabet−$3.6M−13%
Angi Homeservices Inc−$6.1M−38%
Redfin Corp−$6.1M−27%
Walt Disney Company (The)−$7.7M−33%

Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out.

Reported value by quarter

The total value of each quarter's 13F at that quarter end. It moves with prices as well as with buying and selling. Pick a quarter to see what the fund held then.

$20.00B$10.00B$0

Q4 201927 quartersQ2 2026

Every quarter's filing

Each quarter's 13F filing, newest first
Quarter	Filed	Reported value	Positions	Filing
Q2 2026	Aug 14, 2026	$14.34B+187%	49	SEC ↗
Q1 2026	May 18, 2026	$5.00B−39%	54	SEC ↗
Q4 2025	Feb 17, 2026	$8.18B+59%	56	SEC ↗
Q3 2025	Nov 14, 2025	$5.13B+42%	58	SEC ↗
Q2 2025	Aug 14, 2025	$3.60B+9%	48	SEC ↗
Q1 2025	May 15, 2025	$3.29B−28%	44	SEC ↗
Q4 2024	Feb 14, 2025	$4.57B+16%	45	SEC ↗
Q3 2024	Nov 14, 2024	$3.93B+28%	43	SEC ↗
Q2 2024	Aug 14, 2024	$3.06B−30%	40	SEC ↗
Q1 2024	May 15, 2024	$4.41B+45%	38	SEC ↗
Q4 2023	Feb 14, 2024	$3.04B−0%	36	SEC ↗
Q3 2023	Nov 14, 2023	$3.06B−21%	29	SEC ↗
Q2 2023	Aug 14, 2023	$3.89B+19%	33	SEC ↗
Q1 2023	May 15, 2023	$3.27B+29%	34	SEC ↗
Q4 2022	Feb 14, 2023	$2.54B−33%	34	SEC ↗
Q3 2022	Nov 14, 2022	$3.80B+41%	40	SEC ↗
Q2 2022	Aug 15, 2022	$2.69B−17%	42	SEC ↗
Q1 2022	May 16, 2022	$3.25B+1%	38	SEC ↗
Q4 2021	Feb 14, 2022	$3.20B−24%	36	SEC ↗
Q3 2021	Nov 15, 2021	$4.23B−24%	41	SEC ↗
Q2 2021	Aug 16, 2021	$5.60B+26%	44	SEC ↗
Q1 2021	May 28, 2021 (amended)	$4.43B+94%	53	SEC ↗
Q4 2020	Feb 16, 2021	$2.28B+116%	41	SEC ↗
Q3 2020	Nov 16, 2020	$1.06B+49%	33	SEC ↗
Q2 2020	Aug 14, 2020	$708.2M+57%	26	SEC ↗
Q1 2020	May 15, 2020	$452.2M+4%	24	SEC ↗
Q4 2019	Feb 14, 2020	$435.9M	27	SEC ↗