Whale Rock Capital

Q1 2019 13F · by Alex Sacerdote, founder

As of: Mar 31, 2019
Filed: May 15, 2019
US stock: $5.3B · prev $3.1B
Positions: 38 · prev 28
Options notional: $198M
Documents: 1· no amendments

Picture96.4% US stock

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

US stock listed on a US exchange 96.4%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 3.6%
Calls at notional value 0.0%

Moves47 since the prior filing

+28.9 pp in · −28.9 pp out

New 14 +26.74 pp
Added 12 +2.16 pp
Trimmed 12 −18.16 pp
Exited 4 −10.76 pp

Options: 5 moves on a notional base, in the table below.

The book

Focused · behaves like 28 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 55% a year, about 1.8 years per position

Low
Moderate
High

Top 5 positions27% of US stock

MDB MongoDB, Inc. Class A trimmed+0.09 pp trimmed+0.096.6%
AMZN Amazon.Com Inc trimmed−5.55 pp trimmed−5.556.2%
COUP Coupa Software Incorporated added+0.84 pp added+0.845.3%
DAY Dayforce, Inc. added+0.14 pp added+0.144.5%
NFLX NetFlix Inc added−1.16 pp added−1.164.5%

Positions38 in this filing · 4 exited


MDBMongoDB, Inc. Class A	6.57%	2,389,364	$351M	trimmed−0%	+0.09 pp	5 q
AMZNAmazon.Com Inc	6.24%	187,396	$334M	trimmed−23%	−5.55 pp	17 q
COUPCoupa Software Incorporated	5.34%	3,142,301	$286M	added+42%	+0.84 pp	5 q
DAYDayforce, Inc.	4.52%	4,710,124	$242M	added+20%	+0.14 pp	4 q
NFLXNetFlix Inc	4.46%	669,147	$239M	added+3%	−1.16 pp	10 q
TWLOTwilio Inc.	4.09%	1,694,233	$219M	trimmed−31%	−3.02 pp	4 q
PYPLPayPal Holdings, Inc.	3.86%	1,986,633	$206M	new	+3.86 pp	new
METAMeta Platforms, Inc. Class A	3.82%	1,225,040	$204M	added+6%	−1.06 pp	17 q
SHOPShopify Inc. Class A subordinate voting shares	3.80%	984,124	$203M	trimmed−8%	−1.00 pp	14 q
ZENZendesk Inc	3.72%	2,343,721	$199M	added+10%	−0.31 pp	20 q
WWayfair Inc.	3.58%	1,290,644	$192M	added×3.6	+2.54 pp	2 q
INTUIntuit Inc	3.34%	683,017	$179M	new	+3.34 pp	new
NOWServicenow, Inc.	3.29%	714,541	$176M	new	+3.29 pp	new
XYZBlock, Inc.	3.13%	2,235,729	$168M	added+17%	−0.33 pp	5 q
XLNXXilinx Inc	3.02%	1,275,191	$162M	new	+3.02 pp	new
OKTAOkta, Inc. Class A	2.89%	1,871,370	$155M	trimmed−0%	−0.98 pp	3 q
ADIAnalog Devices, Inc.	2.85%	1,450,326	$153M	new	+2.85 pp	new
STNEStoneCo Ltd. Class A	2.75%	3,579,936	$147M	new	+2.75 pp	new
GOOGLAlphabet Inc. Class A	2.67%	121,228	$143M	added+22%	−0.68 pp	14 q
CRMSalesforce, Inc.	2.59%	875,956	$139M	trimmed−22%	−2.39 pp	3 q
RNGRingcentral, Inc.	2.57%	1,273,386	$137M	trimmed−17%	−1.52 pp	8 q
ROKURoku, Inc. Class A	2.51%	2,082,122	$134M	new	+2.51 pp	new
CVNACarvana Co.	2.20%	2,028,224	$118M	added×2.1	+1.16 pp	4 q
SMARSmartsheet Inc.	2.05%	2,685,502	$110M	trimmed−0%	−0.11 pp	3 q
MIMEMimecast Ltd	1.76%	1,990,748	$94M	added+23%	−0.01 pp	5 q
FTCHQFarfetch Limited A	1.49%	2,953,741	$79M	new	+1.49 pp	new
WDAYWorkday, Inc. Class A	1.35%	375,569	$72M	added×2.0	+0.38 pp	3 q
LNWOLight & Wonder Inc	1.30%	3,412,819	$70M	trimmed−0%	−0.68 pp	8 q
TTDThe Trade Desk, Inc.	1.22%	329,178	$65M	new	+1.22 pp	new
unresolvedPluralsight	1.21%	2,040,193	$65M	trimmed−0%	−0.35 pp	3 q
BABAAlibaba Group Holding Limited	1.19%	349,095	$64M	trimmed−54%	−2.15 pp	14 q
AYXAlteryx, Inc.	1.19%	756,514	$63M	added×2.7	+0.65 pp	3 q
MPWRMonolithic Power Systems, Inc.	1.01%	399,813	$54M	trimmed−0%	−0.50 pp	15 q
PAGSPagSeguro Digital Ltd.	0.75%	1,342,123	$40M	new	+0.75 pp	new
SNAPSnap Inc.	0.73%	3,552,402	$39M	new	+0.73 pp	new
MELIMercado Libre, Inc	0.72%	75,952	$39M	new	+0.72 pp	new
unresolvedArco Platform Ltd Com	0.11%	184,116	$6M	new	+0.11 pp	new
LYFTLyft, Inc. Class A	0.10%	70,000	$5M	new	+0.10 pp	new
MSFTMicrosoft Corp	—	−1,124,782	—	exited	−3.70 pp	—
NVDANvidia Corp	—	−702,585	—	exited	−3.04 pp	—
ADBEAdobe Inc.	—	−278,625	—	exited	−2.04 pp	—
JDJD.com, Inc.	—	−2,924,233	—	exited	−1.98 pp	—