Atreides Management

Q2 2020 13F · by Gavin Baker, founder

As of: Jun 30, 2020
Filed: Aug 14, 2020
US stock: $694M · prev $452M
Positions: 25 · prev 24
Options notional: $14M
Documents: 1· no amendments

Picture98.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 98.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 2.0%
Calls at notional value 0.0%

Moves29 since the prior filing

+23.6 pp in · −24.5 pp out

New 6 +15.99 pp
Added 10 +7.57 pp
Trimmed 7 −7.81 pp
Exited 5 −16.64 pp

Options: 1 move on a notional base, in the table below.

The book

Focused · behaves like 20 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 107% a year, about 0.9 years per position

Low
Moderate
High

Top 5 positions33% of US stock

AIY Activision Blizzard Inc trimmed−2.28 pp trimmed−2.286.9%
QSR Restaurant Brands International Inc. added+1.49 pp added+1.496.8%
XYZ Block, Inc. trimmed−0.87 pp trimmed−0.876.7%
RDFN Redfin Corporation trimmed+2.70 pp trimmed+2.706.3%
MU Micron Technology, Inc. added+2.23 pp added+2.236.1%

Positions25 in this filing · 5 exited


AIYActivision Blizzard Inc	6.89%	629,446	$48M	trimmed−10%	−2.28 pp	3 q
QSRRestaurant Brands International Inc.	6.78%	860,814	$47M	added+44%	+1.49 pp	3 q
XYZBlock, Inc.	6.74%	445,622	$47M	trimmed−32%	−0.87 pp	3 q
RDFNRedfin Corporation	6.34%	1,049,796	$44M	trimmed−2%	+2.70 pp	3 q
MUMicron Technology, Inc.	6.14%	826,850	$43M	added+97%	+2.23 pp	3 q
DISThe Walt Disney Company	6.09%	379,220	$42M	added+6%	−1.58 pp	3 q
GOOGLAlphabet Inc. Class A	6.05%	29,611	$42M	added+10%	−0.90 pp	3 q
ROKURoku, Inc. Class A	4.96%	295,585	$34M	added×2.5	+2.66 pp	3 q
AMZNAmazon.Com Inc	4.89%	12,290	$34M	added+13%	+0.19 pp	2 q
TTWOTake-Two Interactive Software Inc	4.70%	233,760	$33M	added+34%	+0.12 pp	3 q
SAMBoston Beer Company	3.92%	50,700	$27M	new	+3.92 pp	new
ANGIAngi Inc. Class A	3.84%	2,193,475	$27M	held	—	3 q
XLNXXilinx Inc	3.74%	263,900	$26M	new	+3.74 pp	new
INTCIntel Corp	3.66%	425,000	$25M	new	+3.66 pp	new
CRWDCrowdStrike Holdings, Inc. Class A	3.56%	246,300	$25M	added×2.3	+2.23 pp	2 q
PARPAR Technology Corp.	3.52%	816,803	$24M	added+17%	+1.53 pp	2 q
NVDANvidia Corp	3.33%	60,748	$23M	trimmed−14%	−0.78 pp	3 q
ULTAUlta Beauty, Inc.	3.06%	104,500	$21M	added+17%	−0.40 pp	3 q
TSLATesla, Inc.	2.86%	18,377	$20M	trimmed−59%	−2.28 pp	3 q
TGTTarget Corporation	2.72%	157,600	$19M	new	+2.72 pp	new
TWLOTwilio Inc.	1.51%	47,635	$10M	trimmed−79%	−2.89 pp	3 q
SONOSonos, Inc.	1.47%	697,200	$10M	new	+1.47 pp	new
CHWYChewy, Inc.	1.44%	223,564	$10M	held	—	3 q
DTDynatrace, Inc.	1.30%	222,213	$9M	trimmed−57%	−1.41 pp	2 q
VRMVroom, Inc.	0.48%	64,000	$3M	new	+0.48 pp	new
CMCSAComcast Corp	—	−687,200	—	exited	−5.22 pp	—
ESTCElastic N.V.	—	−349,800	—	exited	−4.32 pp	—
MCDMcDonald's Corporation	—	−93,800	—	exited	−3.43 pp	—
CVNACarvana Co.	—	−180,700	—	exited	−2.20 pp	—
NKENike, Inc.	—	−80,400	—	exited	−1.47 pp	—