Gavin Baker Atreides Management
Gavin Baker is the founder of Atreides Management, a long/short equity firm focused on technology and innovation. He previously managed growth strategies at Fidelity, where he built a reputation for early research into cloud software, semiconductors, and internet platforms. Baker’s public portfolio is often studied for high-conviction technology themes and cyclical semiconductor exposure.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
HubSpot
HUBS
|
+$122M |
| 2 |
Intuit
INTU
|
+$97.4M |
| 3 |
Coherent
COHR
|
+$91.1M |
| 4 |
Micron Technology
MU
|
+$83.7M |
| 5 |
GitLab
GTLB
|
+$70.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Advanced Micro Devices
AMD
|
+$225M |
| 2 |
Astera Labs
ALAB
|
+$147M |
| 3 |
Lumentum
LITE
|
+$137M |
| 4 |
Affirm
AFRM
|
+$135M |
| 5 |
Dick's Sporting Goods
DKS
|
+$85.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 47.15% |
| 2 | Consumer Discretionary | 14.62% |
| 3 | Communication Services | 6.01% |
| 4 | Industrials | 2.94% |
| 5 | Consumer Staples | 2.27% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Applovin
APP
$102B
| $12.5M | 0.24% |
+17,378
| New | +$8.01M |
|
52
Joby Aviation
JOBY
$7.45B
| $12.4M | 0.24% |
769,407
-230,593
| -23% | -$3.5M |
|
|
53
Astera Labs
ALAB
$49.4B
| $12.1M | 0.24% |
62,050
-892,733
| -94% | -$147M |
|
54
Zillow
Z
$8.07B
| $9.1M | 0.18% |
118,098
-737,910
| -86% | -$60.3M |
|
|
CRWV
55
CoreWeave
CRWV
$48.5B
| $8.61M | 0.17% |
62,904
-91,659
| -59% | -$10.8M |
|
56
Taboola.com
TBLA
$1.01B
| $2.47M | 0.05% |
725,000
| – | – |
|
|
GEMI
57
Gemini Space Station
GEMI
$555M
| $1.68M | 0.03% |
+70,000
| New | +$1.81M |
|
|
SOND
58
DELISTED
Sonder
SOND
| $1.22M | 0.02% |
960,533
| – | – |
|
|
CFLT
59
DELISTED
Confluent
CFLT
| – | – |
-3,012,215
| Closed | -$75.1M |
|
60
First Solar
FSLR
$23B
| – | – |
-393,464
| Closed | -$65.1M |
|
61
SentinelOne
S
$7.26B
| – | – |
-1,902,821
| Closed | -$34.8M |
|
|
VOYG
62
Voyager Technologies
VOYG
$2.34B
| – | – |
-10,000
| Closed | -$393K |
|
|
CHYM
63
Chime Financial
CHYM
$12.4B
| – | – |
-10,000
| Closed | -$345K |
|
Similar funds
Gavin Baker's Q3 2025 Portfolio in Review
As of Q3 2025, Gavin Baker held 63 positions worth $5.13B, up 42% from $3.6B the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Gavin Baker deployed $750M of net new capital in Q3 2025, opening 15 new positions and adding to 12 existing holdings. Its largest new stake was HubSpot: 243,434 shares worth $114M.
By sector, the portfolio is most concentrated in Technology at 47% of assets, down from 51% a quarter earlier, followed by Consumer Discretionary and Communication Services.
On the sell side, the largest reduction was Advanced Micro Devices, an estimated $225M trimmed.
- Gavin Baker's largest Q3 2025 buy was HubSpot: 243,434 shares worth $114M.
- Gavin Baker added most to Micron Technology in Q3 2025, an estimated $83.7M increase.
- Gavin Baker's biggest Q3 2025 reduction was Advanced Micro Devices, cutting an estimated $225M.
- Gavin Baker fully exited Confluent in Q3 2025, selling an estimated $75.1M.
- Gavin Baker's ten largest holdings make up 56% of its $5.13B portfolio in Q3 2025.
- Gavin Baker opened 15 new positions and closed 5 in Q3 2025.
- Gavin Baker's portfolio value rose 42% quarter-over-quarter to $5.13B.
Based on Atreides Management's 13F filing for Q3 2025, filed 14 Nov 2025.