13F filer · CIK 1777813 ↗
Atreides Management
You are looking at Q2 2025. See the latest, Q2 2026 →
Reported value
$3.60B
+9.4% on the quarter before
Positions
48
17 new · 13 sold out
Top 10
47.1%
of the value
Est. gain
+$415.8M
on stocks held all quarter
Est. return
+26.5%
on those stocks since Q1 2025
Positions as of Jun 30, 2025, 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 Q1 2025. Striped tiles are options.
Largest buys
Since Q1 2025, 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.
- Everpure~$204.6MNew · 0.0% → 5.7%+3,552,486 shares
- Dicks Sporting Goods Inc~$172.7MNew · 0.0% → 4.8%+873,137 shares
- Gitlab Inc~$159.3MAdded · 0.6% → 4.9%+3,531,070 shares
- Alphabet~$134.2MAdded · 0.9% → 4.6%+761,782 shares
- Affirm~$115.5MAdded · 0.4% → 3.8%+1,670,429 shares
- Ciena~$102.7MNew · 0.0% → 2.9%+1,262,818 shares
- Twilio~$76.5MAdded · 0.3% → 2.5%+614,943 shares
- ServiceTitan~$68.7MNew · 0.0% → 1.9%+640,778 shares
- First Solar~$65.1MNew · 0.0% → 1.8%+393,464 shares
- E L F Beauty Inc~$61.5MNew · 0.0% → 1.7%+494,047 shares
Largest sells
Since Q1 2025, 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.
- Astera Labs~$334.3MCut · 8.4% → 2.4%−3,697,481 shares
- NvidiaCALL~$249.3MSold out · 7.6% → 0.0%−2,300,000 underlying
- Vaneck ETF TrustPUT~$211.5MSold out · 6.4% → 0.0%−1,000,000 underlying
- Microsoft~$157.7MSold out · 4.8% → 0.0%−420,136 shares
- Rh~$111.0MSold out · 3.4% → 0.0%−473,321 shares
- Roblox~$102.2MCut · 3.6% → 3.1%−971,030 shares
- Micron~$101.0MCut · 2.3% → 0.2%−819,364 shares
- AMDCALL~$82.2MSold out · 2.5% → 0.0%−800,000 underlying
- Ulta Beauty Inc~$79.7MSold out · 2.4% → 0.0%−217,541 shares
- Unity Software Inc~$78.9MCut · 5.6% → 4.1%−3,259,800 shares
Holdings
As of Jun 30, 2025. Changes are in shares against Mar 31, 2025, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMDCOM · shares −17% · price +38.1% | 6.8% | $246.4M | +$68.0M | ||||||||
| EverpureCL A · shares New | 5.7% | $204.6M | — | ||||||||
| Gitlab IncCLASS A COM · shares +867% · price −4.0% | 4.9% | $177.7M | −$769,472 | ||||||||
| Dicks Sporting Goods IncCOM · shares New | 4.8% | $172.7M | — | ||||||||
| AlphabetCAP STK CL A · shares +403% · price +14.0% | 4.6% | $167.6M | +$4.1M | ||||||||
| LumentumCOM · shares −6.3% · price +52.5% | 4.6% | $167.1M | +$57.5M | ||||||||
| AmazonCOM · shares +4.2% · price +15.3% | 4.4% | $157.6M | +$20.1M | ||||||||
| Unity Software IncCOM · shares −35% · price +23.5% | 4.1% | $149.3M | +$28.4M | ||||||||
| AffirmCOM CL A · shares +543% · price +53.0% | 3.8% | $136.8M | +$7.4M | ||||||||
| SnowflakeCL A · shares −14% · price +53.1% | 3.3% | $117.7M | +$40.8M | ||||||||
| RobloxCL A · shares −48% · price +80.5% | 3.1% | $110.5M | +$49.3M | ||||||||
| NvidiaCOM · shares −36% · price +45.8% | 3.0% | $109.0M | +$34.2M | ||||||||
| MetaCL A · shares −40% · price +28.1% | 3.0% | $106.5M | +$23.3M | ||||||||
| CienaCOM NEW · shares New | 2.9% | $102.7M | — | ||||||||
| TeslaCOM · shares +65% · price +22.6% | 2.8% | $102.3M | +$11.4M | ||||||||
| TwilioCL A · shares +533% · price +27.0% | 2.5% | $90.8M | +$3.1M | ||||||||
| Deckers Outdoor CorpCOM · shares −21% · price −7.8% | 2.4% | $87.8M | −$7.4M | ||||||||
| Astera LabsCOM · shares −79% · price +51.5% | 2.4% | $86.3M | +$29.4M | ||||||||
| Acv Auctions IncCOM CL A · shares −0.8% · price +15.1% | 2.1% | $76.1M | +$10.0M | ||||||||
| Confluent IncCLASS A COM · shares +82% · price +6.4% | 2.1% | $75.1M | +$2.5M | ||||||||
| ServiceTitanSHS CL A · shares New | 1.9% | $68.7M | — | ||||||||
| First SolarCOM · shares New | 1.8% | $65.1M | — | ||||||||
| Ferguson Enterprises IncCOMMON STOCK NEW · shares +6.4% · price +35.9% | 1.8% | $64.9M | +$16.1M | ||||||||
| E L F Beauty IncCOM · shares New | 1.7% | $61.5M | — | ||||||||
| Zillow Group IncCL C CAP STK · shares +82% · price +2.2% | 1.7% | $60.0M | +$698,901 | ||||||||
| Total · 48 positions | 100% | $3.60B | +$415.8M |
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 Q1 2025 to Q2 2025: 31 stocks held throughout, up $415.8M (+26.5%).
- AMD+$68.0M+38%
- Lumentum+$57.5M+52%
- Roblox+$49.3M+80%
- Snowflake+$40.8M+53%
- Nvidia+$34.2M+46%
- Five9−$413,253−2%
- Gitlab Inc−$769,472−4%
- Deckers Outdoor Corp−$7.4M−8%
- CoreWeave1:12 split−$43.6M−63%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 1 split read into the share counts.
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.
Every quarter's filing
| Quarter | Reported value | Filing | |
|---|---|---|---|
| Q2 2026 | Aug 14, 2026 | $14.34B+187% | SEC ↗ |
| Q1 2026 | May 18, 2026 | $5.00B−39% | SEC ↗ |
| Q4 2025 | Feb 17, 2026 | $8.18B+59% | SEC ↗ |
| Q3 2025 | Nov 14, 2025 | $5.13B+42% | SEC ↗ |
| Q2 2025 | Aug 14, 2025 | $3.60B+9% | SEC ↗ |
| Q1 2025 | May 15, 2025 | $3.29B−28% | SEC ↗ |
| Q4 2024 | Feb 14, 2025 | $4.57B+16% | SEC ↗ |
| Q3 2024 | Nov 14, 2024 | $3.93B+28% | SEC ↗ |
| Q2 2024 | Aug 14, 2024 | $3.06B−30% | SEC ↗ |
| Q1 2024 | May 15, 2024 | $4.41B+45% | SEC ↗ |
| Q4 2023 | Feb 14, 2024 | $3.04B−0% | SEC ↗ |
| Q3 2023 | Nov 14, 2023 | $3.06B−21% | SEC ↗ |
| Q2 2023 | Aug 14, 2023 | $3.89B+19% | SEC ↗ |
| Q1 2023 | May 15, 2023 | $3.27B+29% | SEC ↗ |
| Q4 2022 | Feb 14, 2023 | $2.54B−33% | SEC ↗ |
| Q3 2022 | Nov 14, 2022 | $3.80B+41% | SEC ↗ |
| Q2 2022 | Aug 15, 2022 | $2.69B−17% | SEC ↗ |
| Q1 2022 | May 16, 2022 | $3.25B+1% | SEC ↗ |
| Q4 2021 | Feb 14, 2022 | $3.20B−24% | SEC ↗ |
| Q3 2021 | Nov 15, 2021 | $4.23B−24% | SEC ↗ |
| Q2 2021 | Aug 16, 2021 | $5.60B+26% | SEC ↗ |
| Q1 2021 | May 28, 2021 (amended) | $4.43B+94% | SEC ↗ |
| Q4 2020 | Feb 16, 2021 | $2.28B+116% | SEC ↗ |
| Q3 2020 | Nov 16, 2020 | $1.06B+49% | SEC ↗ |
| Q2 2020 | Aug 14, 2020 | $708.2M+57% | SEC ↗ |
| Q1 2020 | May 15, 2020 | $452.2M+4% | SEC ↗ |
| Q4 2019 | Feb 14, 2020 | $435.9M | SEC ↗ |