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Atreides Management Portfolio holdings

AUM $5B
1-Year Est. Return 78.34%
This Fund
S&P 500
This Quarter Est. Return
-20.06%
1 Year Est. Return
+78.34%
3 Year Est. Return
+140.1%
5 Year Est. Return
+86.47%
10 Year Est. Return
–
AUM
$3.29B
AUM Growth
-$1.27B
Cap. Flow
-$431M
Cap. Flow %
-13.08%
Top 10 Hldgs %
54.78%
Holding
58
New
13
Increased
14
Reduced
14
Closed
14

Top Buys

Rank Stock Value
1
ALAB icon
Astera Labs
ALAB
+$260M
2
META icon
Meta Platforms (Facebook)
META
+$155M
3
NVDA icon
NVIDIA
NVDA
+$138M
4
U icon
Unity
U
+$127M
5
DECK icon
Deckers Outdoor
DECK
+$96.3M

Top Sells

Rank Stock Value
1
ASML icon
ASML
ASML
+$199M
2
ADBE icon
Adobe
ADBE
+$138M
3
AVGO icon
Broadcom
AVGO
+$105M
4
SBUX icon
Starbucks
SBUX
+$89.1M
5
XYZ
Block Inc
XYZ
+$61.9M

Sector Composition

Rank Sector Weight
1 Technology 48.83%
2 Consumer Discretionary 20.01%
3 Communication Services 10.17%
4 Industrials 3%
5 Financials 1.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RL icon
26
Ralph Lauren
RL
$22.4B
$36.8M 1.12%
166,636
-2,147
-1% -$532K
MA icon
27
Mastercard
MA
$498B
$36M 1.09%
65,605
-5,703
-8% -$3.1M
AXON
28
Axon Enterprise
AXON
$42.8B
$33.1M 1%
+62,901
New +$36.8M
MDB icon
29
MongoDB
MDB
$25.8B
$32.4M 0.98%
184,907
-166,952
-47% -$40.7M
Z icon
30
Zillow
Z
$7.78B
$32.2M 0.98%
+469,061
New +$35.8M
NCLH icon
31
Norwegian Cruise Line
NCLH
$9.53B
$30.8M 0.93%
+1,623,483
New +$39.1M
GOOGL icon
32
Alphabet (Google) Class A
GOOGL
$4.12T
$29.2M 0.89%
189,077
-254,544
-57% -$46.2M
W icon
33
Wayfair
W
$11.8B
$20.8M 0.63%
649,070
-224,536
-26% -$9.34M
GTLB icon
34
GitLab
GTLB
$5.75B
$19.1M 0.58%
407,128
-68,350
-14% -$4.18M
FIVN icon
35
FIVE9
FIVN
$2.08B
$16.7M 0.51%
616,796
+218,563
+55% +$8.01M
RDDT icon
36
Reddit
RDDT
$34.3B
$15.4M 0.47%
+146,363
New +$24.2M
AMSC icon
37
American Superconductor
AMSC
$1.29B
$14.9M 0.45%
+824,040
New +$20.5M
AFRM icon
38
Affirm
AFRM
$23.5B
$13.9M 0.42%
307,453
+163,247
+113% +$9.67M
ASML icon
39
ASML
ASML
$596B
$13M 0.4%
19,657
-273,979
-93% -$199M
TWLO icon
40
Twilio
TWLO
$28.6B
$11.3M 0.34%
+115,357
New +$13.7M
BBWI icon
41
Bath & Body Works
BBWI
$3.97B
$9.04M 0.27%
298,000
-50,446
-14% -$1.79M
JOBY icon
42
Joby Aviation
JOBY
$6.54B
$6.02M 0.18%
1,000,000
– –
TBLA icon
43
Taboola.com
TBLA
$1.41B
$2.14M 0.06%
725,000
– –
SOND
44
DELISTED
Sonder
SOND
$1.92M 0.06%
960,533
– –
ADBE icon
45
Adobe
ADBE
$105B
– –
-311,053
Closed -$138M
AVGO icon
46
Broadcom
AVGO
$1.76T
– –
-452,645
Closed -$105M
CHTR icon
47
Charter Communications
CHTR
$17.3B
– –
-177,228
Closed -$60.7M
CIEN icon
48
Ciena
CIEN
$46.8B
– –
-74,952
Closed -$6.36M
GFS icon
49
GlobalFoundries
GFS
$25.8B
– –
-365,101
Closed -$15.7M
LRCX icon
50
Lam Research
LRCX
$316B
– –
-89,680
Closed -$6.48M
1
2
3

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BCM
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Atreides Management's Q1 2025 Portfolio in Review

As of Q1 2025, Atreides Management held 58 positions worth $3.29B, down 28% from $4.57B the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Atreides Management withdrew a net $431M in Q1 2025, closing 14 positions and reducing 14 holdings. Its most notable exit was Adobe, an estimated $138M position sold in full.

By sector, the portfolio is most concentrated in Technology at 49% of assets, up from 42% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Atreides Management opened a new position in Meta Platforms (Facebook) worth $138M.

  • Atreides Management's largest Q1 2025 buy was Meta Platforms (Facebook): 239,789 shares worth $138M.
  • Atreides Management added most to Astera Labs in Q1 2025, an estimated $260M increase.
  • Atreides Management's biggest Q1 2025 reduction was ASML, cutting an estimated $199M.
  • Atreides Management fully exited Adobe in Q1 2025, selling an estimated $138M.
  • Atreides Management's ten largest holdings make up 55% of its $3.29B portfolio in Q1 2025.
  • Atreides Management opened 13 new positions and closed 14 in Q1 2025.
  • Atreides Management's portfolio value fell 28% quarter-over-quarter to $3.29B.

Based on Atreides Management's 13F filing for Q1 2025, filed 15 May 2025.