Atreides Management

Q3 2021 13F · by Gavin Baker, founder

As of: Sep 30, 2021
Filed: Nov 15, 2021
US stock: $3.9B · prev $3.9B
Positions: 37 · prev 41
Options notional: $331M
Documents: 1· no amendments

Picture92.2% US stock

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

US stock listed on a US exchange 92.2%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 7.8%

Moves49 since the prior filing

+30.2 pp in · −30.0 pp out

New 8 +19.52 pp
Added 11 +10.72 pp
Trimmed 12 −6.41 pp
Exited 12 −23.63 pp

Options: 6 moves on a notional base, in the table below.

The book

Concentrated · behaves like 19 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 147% a year, about 0.7 years per position

Low
Moderate
High

Top 5 positions42% of US stock

DKS Dick's Sporting Goods, Inc. added+2.49 pp added+2.499.9%
PENN PENN Entertainment, Inc. new+8.98 pp new+8.989.0%
TWTR Twitter, Inc. added−0.86 pp added−0.869.0%
UBER Uber Technologies, Inc. added+5.76 pp added+5.768.3%
AEO American Eagle Outfitters added−2.34 pp added−2.345.7%

Positions37 in this filing · 12 exited


DKSDick's Sporting Goods, Inc.	9.90%	3,228,112	$387M	added+12%	+2.49 pp	4 q
PENNPENN Entertainment, Inc.	8.98%	4,836,746	$350M	new	+8.98 pp	new
TWTRTwitter, Inc.	8.97%	5,796,159	$350M	added+4%	−0.86 pp	3 q
UBERUber Technologies, Inc.	8.35%	7,271,668	$326M	added×3.6	+5.76 pp	5 q
AEOAmerican Eagle Outfitters	5.70%	8,621,729	$222M	added+3%	−2.34 pp	5 q
DISHDISH Network Corp.	5.19%	4,659,604	$203M	added+6%	+0.51 pp	5 q
DISThe Walt Disney Company	3.46%	797,934	$135M	trimmed−21%	−1.05 pp	8 q
TWLOTwilio Inc.	3.28%	401,172	$128M	added×5.2	+2.51 pp	8 q
AMZNAmazon.Com Inc	3.23%	38,399	$126M	trimmed−19%	−0.96 pp	2 q
MTCHMatch Group, Inc	3.10%	770,203	$121M	new	+3.10 pp	new
PLANAnaplan, Inc.	2.98%	1,911,008	$116M	new	+2.98 pp	new
MGMMgm Resorts International	2.94%	2,655,170	$115M	added×3.2	+2.03 pp	3 q
COINCoinbase Global, Inc. Class A	2.69%	461,672	$105M	added+10%	−0.02 pp	2 q
EAElectronic Arts Inc	2.61%	717,562	$102M	trimmed−23%	−0.80 pp	3 q
ESTCElastic N.V.	2.55%	668,208	$100M	added+16%	+0.41 pp	2 q
GDRXGoodRx Holdings, Inc. Class A	2.43%	2,313,994	$95M	trimmed−33%	−0.73 pp	2 q
unresolvedIi-Vi Inc	2.34%	1,539,633	$91M	trimmed−0%	−0.52 pp	3 q
TTWOTake-Two Interactive Software Inc	2.11%	535,093	$82M	new	+2.11 pp	new
TGTTarget Corporation	2.11%	360,130	$82M	trimmed−18%	−0.59 pp	6 q
DTDynatrace, Inc.	2.08%	1,143,407	$81M	trimmed−8%	+0.23 pp	4 q
WWayfair Inc.	1.98%	302,273	$77M	added+2%	−0.41 pp	3 q
FWONKLiberty Media Corporation Series C Liberty Formula One	1.97%	1,495,152	$77M	trimmed−0%	+0.12 pp	2 q
DECKDeckers Outdoor Corp	1.94%	210,618	$76M	trimmed−17%	−0.55 pp	5 q
CZRCaesars Entertainment, Inc.	1.89%	658,142	$74M	new	+1.89 pp	new
GOOGLAlphabet Inc. Class A	1.66%	24,253	$65M	trimmed−21%	−0.26 pp	2 q
MUMicron Technology, Inc.	1.29%	711,812	$51M	trimmed−28%	−0.85 pp	8 q
ZZillow Group, Inc. Class C	1.08%	477,469	$42M	trimmed−3%	−0.45 pp	5 q
TSLATesla, Inc.	0.90%	45,288	$35M	held	—	8 q
ACVAACV Auctions Inc.	0.86%	1,868,238	$33M	added×5.4	+0.64 pp	3 q
ROKURoku, Inc. Class A	0.50%	61,769	$19M	held	—	8 q
JOBYJoby Aviation, Inc.	0.26%	1,000,000	$10M	new	+0.26 pp	new
TBLATaboola.com Ltd.	0.16%	725,000	$6M	held	—	2 q
OLPXOlaplex Hldgs Inc	0.13%	200,000	$5M	new	+0.13 pp	new
unresolvedCatalyst Partnrs Acquisitn C	0.13%	520,072	$5M	held	—	2 q
unresolvedAltimeter Growth Corp	0.11%	416,057	$4M	held	—	4 q
MRVLMarvell Technology, Inc.	0.08%	51,071	$3M	held	—	2 q
unresolvedOwlet Inc	0.07%	500,000	$3M	new	+0.07 pp	new
AMDAdvanced Micro Devices	—	−1,970,339	—	exited	−4.73 pp	—
SAMBoston Beer Company	—	−172,628	—	exited	−4.51 pp	—
XYZBlock, Inc.	—	−521,501	—	exited	−3.25 pp	—
NFLXNetFlix Inc	—	−193,487	—	exited	−2.61 pp	—
TPRTapestry, Inc.	—	−1,737,974	—	exited	−1.93 pp	—
WIXWIX.com Ltd.	—	−206,782	—	exited	−1.53 pp	—
ZMZoom Communications, Inc. Class A	—	−145,913	—	exited	−1.44 pp	—
NTNXNutanix, Inc. Class A	—	−1,255,075	—	exited	−1.23 pp	—
SOFISoFi Technologies, Inc.	—	−2,500,000	—	exited	−1.23 pp	—
SONOSonos, Inc.	—	−785,620	—	exited	−0.71 pp	—
RDFNRedfin Corporation	—	−266,328	—	exited	−0.43 pp	—
SSentinelOne, Inc.	—	−25,000	—	exited	−0.03 pp	—