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 |
Meta Platforms (Facebook)
META
|
+$211M |
| 2 |
Microsoft
MSFT
|
+$180M |
| 3 |
Duolingo
DUOL
|
+$136M |
| 4 |
Jabil
JBL
|
+$131M |
| 5 |
Salesforce
CRM
|
+$126M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
JNPR
Juniper Networks
JNPR
|
+$126M |
| 2 |
Visa
V
|
+$117M |
| 3 |
Oracle
ORCL
|
+$101M |
| 4 |
Workday
WDAY
|
+$61.6M |
| 5 |
SPLK
Splunk Inc
SPLK
|
+$60.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 69.46% |
| 2 | Communication Services | 18.83% |
| 3 | Consumer Discretionary | 10% |
| 4 | Financials | 1.67% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Meta Platforms (Facebook)
META
$1.4T
| $366M | 8.06% |
1,727,304
+1,238,980
| +254% | +$211M |
|
2
NVIDIA
NVDA
$5.2T
| $289M | 6.37% |
10,414,040
+2,772,850
| +36% | +$60M |
|
3
Netflix
NFLX
$331B
| $285M | 6.27% |
8,242,570
-752,490
| -8% | -$24.9M |
|
|
4
Microsoft
MSFT
$3.59T
| $252M | 5.56% |
875,738
+704,794
| +412% | +$180M |
|
|
5
Workday
WDAY
$49.4B
| $244M | 5.37% |
1,180,820
-338,644
| -22% | -$61.6M |
|
6
HubSpot
HUBS
$12B
| $205M | 4.52% |
478,222
-123,366
| -21% | -$45M |
|
|
7
Duolingo
DUOL
$6.84B
| $188M | 4.15% |
+1,320,092
| New | +$136M |
|
|
SPLK
8
DELISTED
Splunk Inc
SPLK
| $182M | 4% |
1,893,423
-631,065
| -25% | -$60.5M |
|
9
Arista Networks
ANET
$238B
| $179M | 3.95% |
4,274,188
+1,991,876
| +87% | +$68.5M |
|
10
Palo Alto Networks
PANW
$292B
| $178M | 3.91% |
1,777,464
+771,502
| +77% | +$65.4M |
|
11
ON Semiconductor
ON
$28.9B
| $174M | 3.84% |
2,116,997
+357,509
| +20% | +$27.2M |
|
12
Intuit
INTU
$100B
| $158M | 3.49% |
355,289
-103,748
| -23% | -$42.6M |
|
|
13
Salesforce
CRM
$171B
| $149M | 3.27% |
+743,794
| New | +$126M |
|
|
14
Jabil
JBL
$32.8B
| $143M | 3.15% |
+1,621,621
| New | +$131M |
|
15
T-Mobile US
TMUS
$196B
| $131M | 2.88% |
902,818
-29,293
| -3% | -$4.24M |
|
16
Fortinet
FTNT
$113B
| $127M | 2.8% |
1,912,868
+1,542,951
| +417% | +$87.7M |
|
|
17
Oracle
ORCL
$422B
| $121M | 2.66% |
1,301,804
-1,149,227
| -47% | -$101M |
|
18
Amazon
AMZN
$2.79T
| $116M | 2.55% |
+1,120,024
| New | +$108M |
|
19
Monolithic Power Systems
MPWR
$64.7B
| $104M | 2.3% |
208,472
+155,555
| +294% | +$71.5M |
|
20
Alibaba
BABA
$286B
| $103M | 2.28% |
+1,011,360
| New | +$101M |
|
21
Mercado Libre
MELI
$97.5B
| $87.7M | 1.93% |
+66,539
| New | +$75.7M |
|
22
Super Micro Computer
SMCI
$24.1B
| $84.3M | 1.86% |
7,914,660
+2,328,260
| +42% | +$21M |
|
23
Pinduoduo
PDD
$126B
| $82.6M | 1.82% |
1,087,729
+425,871
| +64% | +$38.5M |
|
24
Nu Holdings
NU
$70.4B
| $76M | 1.67% |
15,965,737
-4,790,759
| -23% | -$21.3M |
|
25
Sea Limited
SE
$72B
| $65M | 1.43% |
+750,550
| New | +$51.2M |
|
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Alex Sacerdote's Q1 2023 Portfolio in Review
As of Q1 2023, Alex Sacerdote held 53 positions worth $4.54B, up 53% from $2.98B the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Alex Sacerdote deployed $752M of net new capital in Q1 2023, opening 14 new positions and adding to 12 existing holdings. Its largest new stake was Duolingo: 1,320,092 shares worth $188M.
By sector, the portfolio is most concentrated in Technology at 69% of assets, down from 74% a quarter earlier, followed by Communication Services and Consumer Discretionary.
On the sell side, the largest reduction was Oracle, an estimated $101M trimmed.
- Alex Sacerdote's largest Q1 2023 buy was Duolingo: 1,320,092 shares worth $188M.
- Alex Sacerdote added most to Meta Platforms (Facebook) in Q1 2023, an estimated $211M increase.
- Alex Sacerdote's biggest Q1 2023 reduction was Oracle, cutting an estimated $101M.
- Alex Sacerdote fully exited Juniper Networks in Q1 2023, selling an estimated $126M.
- Alex Sacerdote's ten largest holdings make up 52% of its $4.54B portfolio in Q1 2023.
- Alex Sacerdote opened 14 new positions and closed 12 in Q1 2023.
- Alex Sacerdote's portfolio value rose 53% quarter-over-quarter to $4.54B.
Based on Whale Rock Capital Management's 13F filing for Q1 2023, filed 15 May 2023.