Alex Sacerdote Whale Rock Capital Management
Alex Sacerdote is the founder of Whale Rock Capital Management, a technology-focused long/short equity firm. The firm researches software, internet, semiconductors, and other innovation-driven industries with an emphasis on fundamental change. Whale Rock’s holdings often surface in discussions of high-growth technology leadership and cyclical tech opportunity.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$229M |
| 2 |
Zoom
ZM
|
+$203M |
| 3 |
Tesla
TSLA
|
+$171M |
| 4 |
Micron Technology
MU
|
+$160M |
| 5 |
Microsoft
MSFT
|
+$156M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
COUP
Coupa Software Incorporated
COUP
|
+$270M |
| 2 |
Match Group
MTCH
|
+$150M |
| 3 |
Marvell Technology
MRVL
|
+$111M |
| 4 |
StoneCo
STNE
|
+$67M |
| 5 |
Meta Platforms (Facebook)
META
|
+$64.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 73.41% |
| 2 | Consumer Discretionary | 20.05% |
| 3 | Communication Services | 6.54% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Amazon
AMZN
$2.79T
| $559M | 7.61% |
5,729,800
+2,370,000
| +71% | +$229M |
|
|
2
Microsoft
MSFT
$3.59T
| $510M | 6.95% |
3,233,699
+949,362
| +42% | +$156M |
|
|
3
Tesla
TSLA
$1.43T
| $317M | 4.32% |
9,071,220
+4,136,535
| +84% | +$171M |
|
4
Shopify
SHOP
$192B
| $315M | 4.29% |
7,544,580
+493,740
| +7% | +$22.3M |
|
|
5
Zoom
ZM
$31.5B
| $301M | 4.11% |
+2,061,352
| New | +$203M |
|
6
Fortinet
FTNT
$113B
| $294M | 4.01% |
14,530,475
+4,683,385
| +48% | +$100M |
|
7
ServiceNow
NOW
$133B
| $237M | 3.23% |
4,135,170
+187,635
| +5% | +$11.7M |
|
8
Datadog
DDOG
$84.6B
| $233M | 3.18% |
6,479,221
+3,442,267
| +113% | +$142M |
|
|
SMAR
9
DELISTED
Smartsheet Inc.
SMAR
| $233M | 3.17% |
5,611,098
+18,182
| +0.3% | +$825K |
|
10
Okta
OKTA
$23.5B
| $228M | 3.11% |
1,867,376
-1,451
| -0.1% | -$182K |
|
|
COUP
11
DELISTED
Coupa Software Incorporated
COUP
| $195M | 2.66% |
1,394,241
-1,744,931
| -56% | -$270M |
|
12
Alphabet (Google) Class A
GOOGL
$4.22T
| $190M | 2.58% |
3,262,640
+377,140
| +13% | +$25.6M |
|
13
CrowdStrike
CRWD
$195B
| $179M | 2.44% |
12,844,336
+8,866,368
| +223% | +$125M |
|
|
ZEN
14
DELISTED
ZENDESK INC
ZEN
| $177M | 2.42% |
2,772,234
+79,973
| +3% | +$6.24M |
|
|
DOCU
15
DocuSign
DOCU
$11.8B
| $171M | 2.33% |
+1,849,972
| New | +$149M |
|
16
MongoDB
MDB
$34.7B
| $161M | 2.2% |
1,181,017
-803
| -0.1% | -$119K |
|
|
AVLR
17
DELISTED
Avalara, Inc.
AVLR
| $160M | 2.18% |
2,144,177
+79,860
| +4% | +$6.51M |
|
18
JD.com
JD
$39.7B
| $146M | 1.98% |
+3,595,521
| New | +$144M |
|
19
Walt Disney
DIS
$186B
| $141M | 1.92% |
1,457,014
-197,265
| -12% | -$24.9M |
|
20
Alibaba
BABA
$286B
| $141M | 1.92% |
723,030
-146,346
| -17% | -$30.5M |
|
21
Intel
INTC
$476B
| $133M | 1.82% |
+2,464,327
| New | +$146M |
|
|
22
Meta Platforms (Facebook)
META
$1.4T
| $130M | 1.77% |
777,405
-331,507
| -30% | -$64.9M |
|
|
23
Micron Technology
MU
$1.09T
| $129M | 1.76% |
+3,071,459
| New | +$160M |
|
|
MIME
24
DELISTED
Mimecast Limited
MIME
| $125M | 1.7% |
3,538,667
-2,290
| -0.1% | -$99K |
|
|
AYX
25
DELISTED
Alteryx Inc
AYX
| $122M | 1.67% |
1,286,355
+26,190
| +2% | +$3.25M |
|
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Alex Sacerdote's Q1 2020 Portfolio in Review
As of Q1 2020, Alex Sacerdote held 57 positions worth $7.34B, up 25% from $5.89B the previous quarter. Its ten largest holdings account for 44% of the portfolio.
Alex Sacerdote deployed $1.9B of net new capital in Q1 2020, opening 17 new positions and adding to 19 existing holdings. Its largest new stake was Zoom: 2,061,352 shares worth $301M.
By sector, the portfolio is most concentrated in Technology at 73% of assets, up from 69% a quarter earlier, followed by Consumer Discretionary and Communication Services.
On the sell side, the largest reduction was Coupa Software Incorporated, an estimated $270M trimmed.
- Alex Sacerdote's largest Q1 2020 buy was Zoom: 2,061,352 shares worth $301M.
- Alex Sacerdote added most to Amazon in Q1 2020, an estimated $229M increase.
- Alex Sacerdote's biggest Q1 2020 reduction was Coupa Software Incorporated, cutting an estimated $270M.
- Alex Sacerdote fully exited Match Group in Q1 2020, selling an estimated $150M.
- Alex Sacerdote's ten largest holdings make up 44% of its $7.34B portfolio in Q1 2020.
- Alex Sacerdote opened 17 new positions and closed 8 in Q1 2020.
- Alex Sacerdote's portfolio value rose 25% quarter-over-quarter to $7.34B.
Based on Whale Rock Capital Management's 13F filing for Q1 2020, filed 15 May 2020.