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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
ALAB icon
1
Astera Labs
ALAB
$42.8B
$278M 8.43%
4,652,264
+2,815,614
+153% +$260M
NVDA icon
2
CALL
NVIDIA
NVDA
$4.6T
$249M 7.57%
+2,300,000
New +$292M
AMD icon
3
Advanced Micro Devices
AMD
$700B
$216M 6.56%
2,102,963
+180,873
+9% +$20.1M
SMH icon
4
PUT
VanEck Semiconductor ETF
SMH
$60.8B
$211M 6.42%
+1,000,000
New +$240M
U icon
5
Unity
U
$14B
$185M 5.61%
9,430,955
+5,607,572
+147% +$127M
MSFT icon
6
Microsoft
MSFT
$2.9T
$158M 4.79%
420,136
+100,778
+32% +$41.1M
META icon
7
Meta Platforms (Facebook)
META
$1.49T
$138M 4.2%
+239,789
New +$155M
AMZN icon
8
Amazon
AMZN
$2.44T
$131M 3.98%
689,231
+8,494
+1% +$1.84M
DECK icon
9
Deckers Outdoor
DECK
$14.1B
$121M 3.66%
1,078,693
+596,359
+124% +$96.3M
RBLX icon
10
Roblox
RBLX
$35.9B
$118M 3.58%
2,021,572
+1,413,206
+232% +$88.8M
NVDA icon
11
NVIDIA
NVDA
$4.6T
$118M 3.57%
+1,085,628
New +$138M
LITE icon
12
Lumentum
LITE
$46.9B
$117M 3.55%
1,875,257
+119,938
+7% +$9.23M
RH icon
13
RH
RH
$3.33B
$111M 3.37%
473,321
+193,404
+69% +$67M
SNOW icon
14
Snowflake
SNOW
$98.1B
$89M 2.7%
608,715
-148,052
-20% -$25.1M
AMD icon
15
CALL
Advanced Micro Devices
AMD
$700B
$82.2M 2.5%
+800,000
New +$89M
ULTA icon
16
Ulta Beauty
ULTA
$21.8B
$79.7M 2.42%
217,541
-112,530
-34% -$42.9M
MU icon
17
Micron Technology
MU
$835B
$77.3M 2.35%
889,842
+649,253
+270% +$62.4M
CRWV
18
CoreWeave
CRWV
$33.2B
$69.5M 2.11%
+1,875,000
New +$72.3M
ACVA icon
19
ACV Auctions
ACVA
$1.41B
$66.7M 2.02%
4,731,079
-291,803
-6% -$5.37M
SNPS icon
20
Synopsys
SNPS
$71.6B
$65.4M 1.99%
+152,488
New +$74.1M
S icon
21
SentinelOne
S
$6.35B
$61M 1.85%
3,357,817
+55,986
+2% +$1.21M
TSLA icon
22
Tesla
TSLA
$1.18T
$50.7M 1.54%
195,542
-113,153
-37% -$37.7M
FERG icon
23
Ferguson
FERG
$43.9B
$44.9M 1.36%
280,079
-21,497
-7% -$3.73M
ESTC icon
24
Elastic
ESTC
$6.7B
$44M 1.34%
493,598
-55,930
-10% -$5.8M
CFLT
25
DELISTED
Confluent
CFLT
$38.8M 1.18%
1,654,969
+104,718
+7% +$3.03M
1
2 3

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BPWM
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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.