Whale Rock Capital

Q2 2020 13F · by Alex Sacerdote, founder

As of: Jun 30, 2020
Filed: Aug 14, 2020
US stock: $12.5B · prev $7.3B
Positions: 42 · prev 49
Options notional: $2M
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%

Moves54 since the prior filing

+23.3 pp in · −23.8 pp out

New 6 +8.61 pp
Added 24 +14.70 pp
Trimmed 10 −7.55 pp
Exited 13 −16.20 pp

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

The book

Focused · behaves like 31 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 59% a year, about 1.7 years per position

Low
Moderate
High

Top 5 positions26% of US stock

AMZN Amazon.Com Inc added−1.12 pp added−1.126.5%
SHOP Shopify Inc. Class A subordinate voting shares added+1.69 pp added+1.696.0%
TSLA Tesla, Inc. added+0.96 pp added+0.965.3%
FSLY Fastly, Inc. Class A added+3.75 pp added+3.754.4%
DOCU DocuSign, Inc. added+1.99 pp added+1.994.3%

Positions42 in this filing · 13 exited


AMZNAmazon.Com Inc	6.49%	295,081	$814M	added+3%	−1.12 pp	22 q
SHOPShopify Inc. Class A subordinate voting shares	5.98%	790,215	$750M	added+5%	+1.69 pp	19 q
TSLATesla, Inc.	5.28%	613,300	$662M	added+1%	+0.96 pp	3 q
FSLYFastly, Inc. Class A	4.41%	6,497,182	$553M	added×2.5	+3.75 pp	3 q
DOCUDocuSign, Inc.	4.32%	3,144,914	$542M	added+70%	+1.99 pp	2 q
ZMZoom Communications, Inc. Class A	4.02%	1,986,887	$504M	trimmed−4%	−0.09 pp	2 q
MSFTMicrosoft Corp	3.79%	2,334,341	$475M	trimmed−28%	−3.16 pp	5 q
DDOGDatadog, Inc. Class A	3.76%	5,417,939	$471M	trimmed−16%	+0.58 pp	4 q
COUPCoupa Software Incorporated	3.61%	1,635,838	$453M	added+17%	+0.95 pp	10 q
OKTAOkta, Inc. Class A	3.25%	2,037,730	$408M	added+9%	+0.14 pp	8 q
XYZBlock, Inc.	2.89%	3,453,772	$362M	new	+2.89 pp	new
FTNTFortinet, Inc.	2.77%	2,530,603	$347M	trimmed−13%	−1.24 pp	3 q
METAMeta Platforms, Inc. Class A	2.58%	1,422,465	$323M	added+83%	+0.81 pp	22 q
JDJD.com, Inc.	2.51%	5,219,871	$314M	added+45%	+0.53 pp	2 q
NXPINXP Semiconductors N.V.	2.36%	2,596,834	$296M	new	+2.36 pp	new
CRWDCrowdStrike Holdings, Inc. Class A	2.33%	2,907,446	$292M	trimmed−9%	−0.11 pp	5 q
SMARSmartsheet Inc.	2.27%	5,589,435	$285M	trimmed−0%	−0.90 pp	8 q
AVLRAvalara, Inc.	2.20%	2,068,302	$275M	trimmed−4%	+0.02 pp	5 q
GOOGLAlphabet Inc. Class A	2.13%	188,045	$267M	added+15%	−0.45 pp	19 q
MDBMongoDB, Inc. Class A	2.13%	1,181,017	$267M	held	—	10 q
WWayfair Inc.	2.13%	1,354,016	$268M	added+6%	+1.20 pp	7 q
ZENZendesk Inc	2.10%	2,967,388	$263M	added+7%	−0.32 pp	25 q
CVNACarvana Co.	1.92%	2,001,242	$241M	added+1%	+0.43 pp	9 q
FIVNFIVE9, Inc.	1.88%	2,129,424	$236M	added×2.0	+0.77 pp	4 q
BILLBILL Holdings, Inc.	1.79%	2,488,792	$225M	added+54%	+1.04 pp	3 q
DAYDayforce, Inc.	1.78%	2,810,175	$223M	added+18%	+0.16 pp	9 q
AAPLApple Inc.	1.75%	599,858	$219M	added+46%	+0.32 pp	2 q
AYXAlteryx, Inc.	1.74%	1,327,300	$218M	added+3%	+0.07 pp	8 q
NVDANvidia Corp	1.70%	561,291	$213M	added+27%	+0.11 pp	2 q
TWLOTwilio Inc.	1.63%	931,356	$204M	held	—	9 q
MELIMercado Libre, Inc	1.58%	201,288	$198M	new	+1.58 pp	new
SESea Limited	1.57%	1,831,678	$196M	added+1%	+0.48 pp	2 q
unresolvedCree Inc	1.53%	3,247,208	$192M	new	+1.53 pp	new
MPWRMonolithic Power Systems, Inc.	1.50%	791,961	$188M	added+73%	+0.45 pp	20 q
LRCXLam Research Corp	1.42%	550,421	$178M	added+9%	−0.22 pp	2 q
STNEStoneCo Ltd. Class A	1.19%	3,842,800	$149M	added×3.5	+0.87 pp	6 q
NETCloudflare, Inc. Class A, par value $0.001 per share	0.99%	3,456,057	$124M	trimmed−21%	−0.41 pp	2 q
NOWServicenow, Inc.	0.92%	283,636	$115M	trimmed−66%	−2.31 pp	6 q
PTONPeloton Interactive, Inc. Class A	0.78%	1,702,836	$98M	trimmed−13%	+0.07 pp	2 q
RNGRingcentral, Inc.	0.78%	342,036	$97M	added+43%	+0.09 pp	2 q
VRMVroom, Inc.	0.13%	302,000	$16M	new	+0.13 pp	new
GTMZoomInfo Technologies Inc	0.12%	302,990	$15M	new	+0.12 pp	new
BABAAlibaba Group Holding Limited	—	−723,030	—	exited	−1.92 pp	—
DISThe Walt Disney Company	—	−1,457,014	—	exited	−1.92 pp	—
INTCIntel Corp	—	−2,464,327	—	exited	−1.82 pp	—
MUMicron Technology, Inc.	—	−3,071,459	—	exited	−1.76 pp	—
MIMEMimecast Ltd	—	−3,538,667	—	exited	−1.70 pp	—
ZSZscaler, Inc.	—	−2,007,788	—	exited	−1.67 pp	—
AIYActivision Blizzard Inc	—	−1,974,972	—	exited	−1.60 pp	—
TSMTaiwan Semiconductor Manufacturing Company Ltd.	—	−2,272,727	—	exited	−1.48 pp	—
KLICKulicke & Soffa Industries Inc	—	−3,958,418	—	exited	−1.13 pp	—
PLANAnaplan, Inc.	—	−1,333,141	—	exited	−0.55 pp	—
MXIMMaxim Integrated Products	—	−572,873	—	exited	−0.38 pp	—
CDLXCardlytics, Inc.	—	−388,319	—	exited	−0.19 pp	—
TWTRTwitter, Inc.	—	−253,316	—	exited	−0.08 pp	—