Whale Rock Capital

Q3 2017 13F · by Alex Sacerdote, founder

As of: Sep 30, 2017
Filed: Nov 15, 2017
US stock: $1.9B · prev $1.4B
Positions: 32 · prev 28
Options notional: $27M
Documents: 1· 1 amendment

Picture98.6% US stock

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

US stock listed on a US exchange 98.6%
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 1.4%

Moves39 since the prior filing

+28.8 pp in · −28.8 pp out

New 10 +19.00 pp
Added 8 +9.84 pp
Trimmed 14 −15.46 pp
Exited 6 −13.35 pp

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

The book

Focused · behaves like 21 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 48% a year, about 2.1 years per position

Low
Moderate
High

Top 5 positions36% of US stock

AMZN Amazon.Com Inc trimmed−3.05 pp trimmed−3.059.0%
SHOP Shopify Inc. Class A subordinate voting shares added+2.29 pp added+2.298.1%
BABA Alibaba Group Holding Limited added−0.21 pp added−0.217.2%
META Meta Platforms, Inc. Class A added+1.29 pp added+1.296.8%
LNWO Light & Wonder Inc added+2.48 pp added+2.485.1%

Revealed late, restated

restated 1 row corrected by the filer · US stock 0.00%; later quarters recomputed 13F-HR/A · Nov 15, 2017 ↗

Positions32 in this filing · 6 exited


AMZNAmazon.Com Inc	9.00%	177,513	$171M	trimmed−0%	−3.05 pp	11 q
SHOPShopify Inc. Class A subordinate voting shares	8.13%	1,323,557	$154M	added+38%	+2.29 pp	8 q
BABAAlibaba Group Holding Limited	7.23%	793,542	$137M	added+5%	−0.21 pp	8 q
METAMeta Platforms, Inc. Class A	6.76%	749,598	$128M	added+45%	+1.29 pp	11 q
LNWOLight & Wonder Inc	5.06%	2,093,468	$96M	added+48%	+2.48 pp	2 q
NVDANvidia Corp	4.91%	521,180	$93M	new	+4.91 pp	new
LRCXLam Research Corp	4.69%	480,753	$89M	added+20%	+0.72 pp	3 q
GOOGLAlphabet Inc. Class A	4.60%	89,488	$87M	trimmed−0%	−1.23 pp	8 q
LITELumentum Holdings Inc.	4.56%	1,590,359	$86M	added+86%	+1.15 pp	3 q
NFLXNetFlix Inc	3.92%	410,262	$74M	added+32%	+0.68 pp	4 q
unresolvedEllie Mae	3.89%	898,591	$74M	trimmed−0%	−3.03 pp	12 q
ASMLASML Holding NV	3.53%	390,995	$67M	new	+3.53 pp	new
KLICKulicke & Soffa Industries Inc	3.25%	2,856,179	$62M	new	+3.25 pp	new
PEGAPegasystems Inc	3.13%	1,029,502	$59M	trimmed−0%	−1.08 pp	4 q
NTESNetEase, inc.	2.87%	206,454	$54M	trimmed−1%	−1.52 pp	12 q
TSLATesla, Inc.	2.82%	156,672	$53M	trimmed−15%	−1.84 pp	2 q
CGNXCognex Corp	2.63%	451,928	$50M	added×2.2	+1.44 pp	2 q
MELIMercado Libre, Inc	2.54%	185,754	$48M	trimmed−0%	−0.73 pp	3 q
XYZBlock, Inc.	2.34%	1,538,955	$44M	new	+2.34 pp	new
ZENZendesk Inc	2.23%	1,450,324	$42M	trimmed−0%	−0.59 pp	14 q
RNGRingcentral, Inc.	2.21%	1,002,993	$42M	trimmed−7%	−0.55 pp	2 q
STMPStamps.com, Inc.	1.50%	140,407	$28M	trimmed−0%	−0.02 pp	2 q
MPWRMonolithic Power Systems, Inc.	1.39%	247,711	$26M	trimmed−0%	−0.28 pp	9 q
INSTInstructure Inc	1.34%	766,423	$25M	trimmed−46%	−1.59 pp	3 q
MUMicron Technology, Inc.	1.29%	619,615	$24M	new	+1.29 pp	new
YYJOYY Inc.	1.26%	274,795	$24M	new	+1.26 pp	new
BLBlackLine, Inc.	1.25%	694,270	$24M	new	+1.25 pp	new
HIMXHimax Technologies, Inc.	1.00%	1,733,687	$19M	new	+1.00 pp	new
APPNAppian Corporation Class A	0.37%	244,457	$7M	trimmed−0%	+0.06 pp	2 q
OKTAOkta, Inc. Class A	0.14%	94,745	$3M	trimmed−0%	−0.01 pp	2 q
MULEMuleSoft, Inc.	0.10%	97,465	$2M	new	+0.10 pp	new
ROKURoku, Inc. Class A	0.07%	50,000	$1M	new	+0.07 pp	new
AAPLApple Inc.	—	−422,086	—	exited	−4.25 pp	—
FNFabrinet	—	−888,013	—	exited	−2.65 pp	—
BOXBox, Inc.	—	−1,775,308	—	exited	−2.27 pp	—
CEVACEVA Inc.	—	−468,040	—	exited	−1.49 pp	—
FIVNFIVE9, Inc.	—	−989,592	—	exited	−1.49 pp	—
MTSIMACOM Technology Solutions Holdings, Inc	—	−307,247	—	exited	−1.20 pp	—