13F filer · CIK 1777813 ↗
Atreides Management
You are looking at Q3 2025. See the latest, Q2 2026 →
Reported value
$5.13B
+42% on the quarter before
Positions
58
15 new · 5 sold out
Top 10
56.1%
of the value
Est. gain
+$406.8M
on stocks held all quarter
Est. return
+16.6%
on those stocks since Q2 2025
Positions as of Sep 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 Q2 2025. Striped tiles are options.
Largest buys
Since Q2 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.
- Invesco Qqq TrPUT~$1.20BNew · 0.0% → 23.4%+2,000,000 underlying
- HubSpot~$113.9MNew · 0.0% → 2.2%+243,434 shares
- Micron~$109.5MAdded · 0.2% → 2.4%+654,479 shares
- Coherent Corp~$98.4MNew · 0.0% → 1.9%+913,778 shares
- Intuit~$92.3MNew · 0.0% → 1.8%+135,178 shares
- Intel~$87.6MNew · 0.0% → 1.7%+2,611,037 shares
- Marvell Technology IncCALL~$84.1MNew · 0.0% → 1.6%+1,000,000 underlying
- Gitlab Inc~$69.1MAdded · 4.9% → 4.8%+1,532,107 shares
- Atlassian Corporation~$48.7MNew · 0.0% → 0.9%+305,231 shares
- Everpure~$45.8MAdded · 5.7% → 6.7%+545,890 shares
Largest sells
Since Q2 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.
- AMD~$226.0MCut · 6.8% → 1.1%−1,397,006 shares
- Lumentum~$179.1MCut · 4.6% → 2.1%−1,100,601 shares
- Affirm~$129.3MCut · 3.8% → 0.3%−1,769,977 shares
- Alphabet~$97.4MCut · 4.6% → 2.6%−400,599 shares
- Dicks Sporting Goods Inc~$87.1MCut · 4.8% → 2.1%−391,751 shares
- Confluent Inc~$75.1MSold out · 2.1% → 0.0%−3,012,215 shares
- First Solar~$65.1MSold out · 1.8% → 0.0%−393,464 shares
- Meta~$57.5MCut · 3.0% → 0.9%−78,240 shares
- Zillow Group Inc~$56.9MCut · 1.7% → 0.2%−737,910 shares
- Tesla~$51.3MCut · 2.8% → 1.8%−115,335 shares
Holdings
As of Sep 30, 2025. Changes are in shares against Jun 30, 2025, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Invesco Qqq TrPUTUNIT SER 1 · shares New | 23.4% | $1.20B | — | ||||||||
| EverpureCL A · shares +15% · price +45.6% | 6.7% | $343.5M | +$93.2M | ||||||||
| Gitlab IncCLASS A COM · shares +39% · price −0.1% | 4.8% | $246.6M | −$118,146 | ||||||||
| Unity Software IncCOM · shares −1.0% · price +65.5% | 4.8% | $244.7M | +$96.8M | ||||||||
| CienaCOM NEW · shares +11% · price +79.1% | 4.0% | $204.0M | +$81.2M | ||||||||
| AmazonCOM · shares −8.3% · price +0.1% | 2.8% | $144.7M | +$118,600 | ||||||||
| AlphabetCAP STK CL A · shares −42% · price +37.9% | 2.6% | $133.8M | +$36.8M | ||||||||
| Deckers Outdoor CorpCOM · shares +47% · price −1.6% | 2.5% | $126.8M | −$1.4M | ||||||||
| MicronCOM · shares +929% · price +35.8% | 2.4% | $121.3M | +$3.1M | ||||||||
| HubSpotCOM · shares New | 2.2% | $113.9M | — | ||||||||
| NvidiaCOM · shares −17% · price +18.1% | 2.1% | $107.2M | +$16.4M | ||||||||
| Dicks Sporting Goods IncCOM · shares −45% · price +12.3% | 2.1% | $107.0M | +$11.8M | ||||||||
| LumentumCOM · shares −63% · price +71.2% | 2.1% | $106.9M | +$44.4M | ||||||||
| SnowflakeCOM SHS · shares −11% · price +0.8% | 2.1% | $105.9M | +$835,790 | ||||||||
| RobloxCL A · shares −30% · price +31.7% | 2.0% | $102.1M | +$24.6M | ||||||||
| Coherent CorpCOM · shares New | 1.9% | $98.4M | — | ||||||||
| TwilioCL A · shares +32% · price −19.5% | 1.9% | $96.7M | −$17.7M | ||||||||
| IntuitCOM · shares New | 1.8% | $92.3M | — | ||||||||
| TeslaCOM · shares −36% · price +40.0% | 1.8% | $91.9M | +$26.2M | ||||||||
| IntelCOM · shares New | 1.7% | $87.6M | — | ||||||||
| Marvell Technology IncCALLCOM · shares New | 1.6% | $84.1M | — | ||||||||
| Wayfair IncCL A · shares +17% · price +74.7% | 1.5% | $76.3M | +$27.8M | ||||||||
| E L F Beauty IncCOM · shares +9.0% · price +6.5% | 1.4% | $71.3M | +$4.0M | ||||||||
| ServiceTitanSHS CL A · shares −2.3% · price −5.9% | 1.2% | $63.1M | −$4.0M | ||||||||
| RubrikCL A · shares +60% · price −8.2% | 1.2% | $61.9M | −$3.5M | ||||||||
| Total · 58 positions | 100% | $5.13B | +$406.8M |
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 Q2 2025 to Q3 2025: 43 stocks held throughout, up $406.8M (+16.6%).
- Unity Software Inc+$96.8M+65%
- Everpure+$93.2M+46%
- Ciena+$81.2M+79%
- Lumentum+$44.4M+71%
- Alphabet+$36.8M+38%
- ServiceTitan−$4.0M−6%
- Axon Enterprise Inc−$4.0M−13%
- Twilio−$17.7M−20%
- Acv Auctions Inc−$29.6M−39%
- Astera Labs1:15 split−$72.0M−86%
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 ↗ |