Whale Rock Capital

Q2 2016 13F · by Alex Sacerdote, founder

As of: Jun 30, 2016
Filed: Aug 15, 2016
US stock: $1.2B · prev $1.1B
Positions: 31 · prev 35
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

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

US stock listed on a US exchange 100.0%
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 0.0%

Moves40 since the prior filing

+25.1 pp in · −25.1 pp out

New 5 +10.45 pp
Added 13 +14.62 pp
Trimmed 13 −11.08 pp
Exited 9 −13.97 pp

The book

Concentrated · behaves like 20 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 85% a year, about 1.2 years per position

Low
Moderate
High

Top 5 positions39% of US stock

AMZN Amazon.Com Inc added+2.07 pp added+2.0710.5%
unresolved Ellie Mae added+1.72 pp added+1.728.5%
ZEN Zendesk Inc trimmed+0.35 pp trimmed+0.358.0%
SYMC Gen Digital Inc. new+6.39 pp new+6.396.4%
META Meta Platforms, Inc. Class A trimmed−0.96 pp trimmed−0.965.6%

Positions31 in this filing · 9 exited


AMZNAmazon.Com Inc	10.47%	176,116	$126M	added+16%	+2.07 pp	6 q
unresolvedEllie Mae	8.54%	1,120,745	$103M	added+38%	+1.72 pp	7 q
ZENZendesk Inc	7.97%	3,634,016	$96M	trimmed−7%	+0.35 pp	9 q
SYMCGen Digital Inc.	6.39%	3,745,802	$77M	new	+6.39 pp	new
METAMeta Platforms, Inc. Class A	5.60%	589,258	$67M	trimmed−5%	−0.96 pp	6 q
GOOGLAlphabet Inc. Class A	5.30%	90,600	$64M	added+19%	−0.10 pp	3 q
unresolvedInteractive Intelligence Gro	5.17%	1,517,103	$62M	added+86%	+2.41 pp	2 q
CRMSalesforce, Inc.	4.25%	643,524	$51M	trimmed−12%	−0.78 pp	5 q
FNFabrinet	4.24%	1,374,137	$51M	added+20%	+0.80 pp	2 q
BABAAlibaba Group Holding Limited	4.19%	634,411	$50M	added+77%	+1.56 pp	3 q
MXLMaxLinear, Inc.	3.61%	2,414,490	$43M	added+8%	−0.23 pp	5 q
NTESNetEase, inc.	2.99%	186,141	$36M	trimmed−32%	−0.67 pp	7 q
NVDANvidia Corp	2.80%	717,612	$34M	added×2.4	+1.81 pp	4 q
MSTRStrategy Inc Class A	2.76%	189,930	$33M	added×2.7	+1.58 pp	2 q
SHOPShopify Inc. Class A subordinate voting shares	2.53%	989,538	$30M	added×2.3	+1.40 pp	3 q
ACIAAcacia Communications, Inc.	2.44%	735,306	$29M	new	+2.44 pp	new
OCLROclaro Inc	2.35%	5,797,976	$28M	trimmed−26%	−1.59 pp	4 q
HUBSHubspot, Inc.	2.34%	648,407	$28M	trimmed−20%	−0.96 pp	2 q
EPAMEpam Systems, Inc.	2.22%	414,822	$27M	added×2.9	+1.24 pp	5 q
GOOGAlphabet Inc. Class C	1.79%	31,203	$22M	trimmed0%	−0.37 pp	9 q
NEWRNew Relic, Inc.	1.70%	695,758	$20M	trimmed−22%	−0.47 pp	5 q
CRUSCirrus Logic Inc	1.56%	482,437	$19M	trimmed−0%	−0.07 pp	2 q
MSFTMicrosoft Corp	1.56%	367,538	$19M	trimmed−68%	−4.38 pp	2 q
MPWRMonolithic Power Systems, Inc.	1.41%	248,305	$17M	added+56%	+0.47 pp	4 q
ADBEAdobe Inc.	1.38%	173,062	$17M	trimmed−0%	−0.13 pp	4 q
WWayfair Inc.	1.31%	405,727	$16M	added+15%	−0.11 pp	4 q
PTCPtc, Inc	0.94%	299,470	$11M	new	+0.94 pp	new
IPHIInphi Corporation	0.91%	343,748	$11M	trimmed−24%	−0.49 pp	7 q
WUBA58.COM Inc	0.61%	159,834	$7M	trimmed−29%	−0.56 pp	4 q
YELPYelp Inc.	0.38%	150,000	$5M	new	+0.38 pp	new
TWLOTwilio Inc.	0.30%	100,000	$4M	new	+0.30 pp	new
PANWPalo Alto Networks, Inc.	—	−178,452	—	exited	−2.71 pp	—
AAPLApple Inc.	—	−243,785	—	exited	−2.47 pp	—
PFPTProofpoint, Inc.	—	−430,486	—	exited	−2.15 pp	—
TREELendingTree, Inc.	—	−175,041	—	exited	−1.59 pp	—
NFLXNetFlix Inc	—	−124,988	—	exited	−1.19 pp	—
VIPSVipshop Holdings Limited	—	−971,719	—	exited	−1.16 pp	—
EAElectronic Arts Inc	—	−185,388	—	exited	−1.14 pp	—
AAOIApplied Optoelectronics, Inc.	—	−730,804	—	exited	−1.01 pp	—
unresolvedAtlassian Corp Plc	—	−237,198	—	exited	−0.55 pp	—