Whale Rock Capital

Q2 2019 13F · by Alex Sacerdote, founder

As of: Jun 30, 2019
Filed: Aug 14, 2019
US stock: $5.7B · prev $5.3B
Positions: 43 · prev 38
Options notional: $98M
Documents: 1· no amendments

Picture98.3% US stock

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

US stock listed on a US exchange 98.3%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 1.7%
Calls at notional value 0.0%

Moves54 since the prior filing

+25.6 pp in · −25.5 pp out

New 13 +15.76 pp
Added 9 +9.80 pp
Trimmed 21 −11.08 pp
Exited 8 −14.43 pp

Options: 3 moves on a notional base, in the table below.

The book

Focused · behaves like 28 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 100% a year, about 1.0 years per position

Low
Moderate
High

Top 5 positions27% of US stock

COUP Coupa Software Incorporated trimmed+1.59 pp trimmed+1.596.9%
AMZN Amazon.Com Inc added+0.64 pp added+0.646.9%
META Meta Platforms, Inc. Class A added+0.63 pp added+0.634.5%
SMAR Smartsheet Inc. added+2.19 pp added+2.194.2%
SHOP Shopify Inc. Class A subordinate voting shares trimmed+0.27 pp trimmed+0.274.1%

Positions43 in this filing · 8 exited


COUPCoupa Software Incorporated	6.93%	3,141,702	$398M	trimmed−0%	+1.59 pp	6 q
AMZNAmazon.Com Inc	6.88%	208,773	$395M	added+11%	+0.64 pp	18 q
METAMeta Platforms, Inc. Class A	4.45%	1,323,530	$255M	added+8%	+0.63 pp	18 q
SMARSmartsheet Inc.	4.24%	5,030,271	$243M	added+87%	+2.19 pp	4 q
SHOPShopify Inc. Class A subordinate voting shares	4.07%	778,056	$234M	trimmed−21%	+0.27 pp	15 q
OKTAOkta, Inc. Class A	4.02%	1,870,680	$231M	trimmed−0%	+1.13 pp	4 q
TWLOTwilio Inc.	4.02%	1,693,992	$231M	trimmed−0%	−0.07 pp	5 q
AYXAlteryx, Inc.	3.96%	2,083,414	$227M	added×2.8	+2.77 pp	4 q
ZENZendesk Inc	3.63%	2,343,257	$209M	trimmed−0%	−0.09 pp	21 q
WWayfair Inc.	3.57%	1,404,590	$205M	added+9%	−0.01 pp	3 q
MRVLMarvell Technology, Inc.	3.57%	8,583,481	$205M	new	+3.57 pp	new
AVLRAvalara, Inc.	3.53%	2,811,729	$203M	new	+3.53 pp	new
NOWServicenow, Inc.	3.42%	714,363	$196M	trimmed−0%	+0.13 pp	2 q
PYPLPayPal Holdings, Inc.	3.25%	1,629,645	$187M	trimmed−18%	−0.61 pp	2 q
NFLXNetFlix Inc	3.22%	503,647	$185M	trimmed−25%	−1.24 pp	11 q
MDBMongoDB, Inc. Class A	3.17%	1,195,514	$182M	trimmed−50%	−3.40 pp	6 q
MIMEMimecast Ltd	3.09%	3,797,844	$177M	added+91%	+1.33 pp	6 q
DAYDayforce, Inc.	2.94%	3,368,051	$169M	trimmed−28%	−1.58 pp	5 q
ADIAnalog Devices, Inc.	2.30%	1,171,043	$132M	trimmed−19%	−0.55 pp	2 q
GOOGLAlphabet Inc. Class A	2.29%	121,223	$131M	trimmed0%	−0.38 pp	15 q
MSFTMicrosoft Corp	2.28%	976,342	$131M	new	+2.28 pp	new
WDAYWorkday, Inc. Class A	2.05%	572,963	$118M	added+53%	+0.70 pp	4 q
MELIMercado Libre, Inc	1.99%	186,912	$114M	added×2.5	+1.27 pp	2 q
CVNACarvana Co.	1.92%	1,758,582	$110M	trimmed−13%	−0.28 pp	5 q
ROKURoku, Inc. Class A	1.91%	1,210,268	$110M	trimmed−42%	−0.60 pp	2 q
ZMZoom Communications, Inc. Class A	1.89%	1,219,254	$108M	new	+1.89 pp	new
STNEStoneCo Ltd. Class A	1.41%	2,728,476	$81M	trimmed−24%	−1.34 pp	2 q
SESea Limited	1.27%	2,189,587	$73M	new	+1.27 pp	new
BABAAlibaba Group Holding Limited	1.03%	349,008	$59M	trimmed−0%	−0.16 pp	15 q
SNAPSnap Inc.	1.01%	4,054,209	$58M	added+14%	+0.28 pp	2 q
MPWRMonolithic Power Systems, Inc.	0.95%	399,714	$54M	trimmed−0%	−0.06 pp	16 q
XYZBlock, Inc.	0.91%	716,639	$52M	trimmed−68%	−2.22 pp	6 q
unresolvedCree Inc	0.89%	911,748	$51M	new	+0.89 pp	new
CRWDCrowdStrike Holdings, Inc. Class A	0.84%	707,272	$48M	new	+0.84 pp	new
TTDThe Trade Desk, Inc.	0.77%	193,560	$44M	trimmed−41%	−0.45 pp	2 q
KLICKulicke & Soffa Industries Inc	0.63%	1,603,995	$36M	new	+0.63 pp	new
PAGSPagSeguro Digital Ltd.	0.51%	753,904	$29M	trimmed−44%	−0.24 pp	2 q
WORKSlack Technologies, Inc.	0.49%	750,000	$28M	new	+0.49 pp	new
LNWOLight & Wonder Inc	0.37%	1,068,315	$21M	trimmed−69%	−0.93 pp	9 q
RVLVRevolve Group, Inc.	0.14%	225,574	$8M	new	+0.14 pp	new
FSLYFastly, Inc. Class A	0.11%	299,959	$6M	new	+0.11 pp	new
REALThe RealReal, Inc.	0.10%	200,000	$6M	new	+0.10 pp	new
PDPagerDuty, Inc.	0.02%	29,983	$1M	new	+0.02 pp	new
INTUIntuit Inc	—	−683,017	—	exited	−3.34 pp	—
XLNXXilinx Inc	—	−1,275,191	—	exited	−3.02 pp	—
CRMSalesforce, Inc.	—	−875,956	—	exited	−2.59 pp	—
RNGRingcentral, Inc.	—	−1,273,386	—	exited	−2.57 pp	—
FTCHQFarfetch Limited A	—	−2,953,741	—	exited	−1.49 pp	—
unresolvedPluralsight	—	−2,040,193	—	exited	−1.21 pp	—
unresolvedArco Platform Ltd Com	—	−184,116	—	exited	−0.11 pp	—
LYFTLyft, Inc. Class A	—	−70,000	—	exited	−0.10 pp	—