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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
+31.65%
1 Year Est. Return
+78.34%
3 Year Est. Return
+140.1%
5 Year Est. Return
+86.47%
10 Year Est. Return
–
AUM
$3.6B
AUM Growth
+$310M
Cap. Flow
-$551M
Cap. Flow %
-15.29%
Top 10 Hldgs %
47.1%
Holding
61
New
17
Increased
13
Reduced
15
Closed
13

Top Buys

Rank Stock Value
1
P
Everpure Inc
P
+$177M
2
DKS icon
Dick's Sporting Goods
DKS
+$162M
3
GTLB icon
GitLab
GTLB
+$161M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$125M
5
CIEN icon
Ciena
CIEN
+$90.6M

Top Sells

Rank Stock Value
1
ALAB icon
Astera Labs
ALAB
+$292M
2
CRWV
CoreWeave
CRWV
+$159M
3
MSFT icon
Microsoft
MSFT
+$158M
4
RH icon
RH
RH
+$111M
5
ULTA icon
Ulta Beauty
ULTA
+$79.7M

Sector Composition

Rank Sector Weight
1 Technology 51.05%
2 Consumer Discretionary 22.83%
3 Communication Services 12.41%
4 Financials 6.53%
5 Industrials 5.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BBWI icon
51
Bath & Body Works
BBWI
$4.13B
– –
-298,000
Closed -$9.04M
ESTC icon
52
Elastic
ESTC
$6.37B
– –
-493,598
Closed -$44M
MDB icon
53
MongoDB
MDB
$24.9B
– –
-184,907
Closed -$32.4M
MSFT icon
54
Microsoft
MSFT
$2.89T
– –
-420,136
Closed -$158M
NCLH icon
55
Norwegian Cruise Line
NCLH
$9.2B
– –
-1,623,483
Closed -$30.8M
NVDA icon
56
CALL
NVIDIA
NVDA
$4.76T
– –
-2,300,000
Closed -$249M
RH icon
57
RH
RH
$3.4B
– –
-473,321
Closed -$111M
SMH icon
58
PUT
VanEck Semiconductor ETF
SMH
$66.1B
– –
-1,000,000
Closed -$211M
SNPS icon
59
Synopsys
SNPS
$74.5B
– –
-152,488
Closed -$65.4M
ULTA icon
60
Ulta Beauty
ULTA
$20.7B
– –
-217,541
Closed -$79.7M
RDDT icon
61
Reddit
RDDT
$34.5B
– –
-146,363
Closed -$15.4M
1 2
3

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Atreides Management's Q2 2025 Portfolio in Review

As of Q2 2025, Atreides Management held 61 positions worth $3.6B, up 9.4% from $3.29B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Atreides Management withdrew a net $551M in Q2 2025, closing 13 positions and reducing 15 holdings. Its most notable exit was Microsoft, an estimated $158M position sold in full.

By sector, the portfolio is most concentrated in Technology at 51% of assets, up from 49% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Atreides Management opened a new position in Everpure Inc worth $205M.

  • Atreides Management's largest Q2 2025 buy was Everpure Inc: 3,552,486 shares worth $205M.
  • Atreides Management added most to GitLab in Q2 2025, an estimated $161M increase.
  • Atreides Management's biggest Q2 2025 reduction was Astera Labs, cutting an estimated $292M.
  • Atreides Management fully exited Microsoft in Q2 2025, selling an estimated $158M.
  • Atreides Management's ten largest holdings make up 47% of its $3.6B portfolio in Q2 2025.
  • Atreides Management opened 17 new positions and closed 13 in Q2 2025.
  • Atreides Management's portfolio value rose 9.4% quarter-over-quarter to $3.6B.

Based on Atreides Management's 13F filing for Q2 2025, filed 14 Aug 2025.