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Gavin Baker Atreides Management

AUM $14.3B
1-Year Est. Return 116.01%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+12.26%
1 Year Est. Return
+116.01%
3 Year Est. Return
+228.97%
5 Year Est. Return
+169.63%
10 Year Est. Return
–
AUM
$4.43B
AUM Growth
+$2.15B
Cap. Flow
+$1.99B
Cap. Flow %
44.92%
Top 10 Hldgs %
57.81%
Holding
65
New
24
Increased
20
Reduced
6
Closed
12

Top Buys

Rank Stock Value
1
TWTR
Twitter, Inc.
TWTR
+$288M
2
AMD icon
Advanced Micro Devices
AMD
+$261M
3
TJX icon
TJX Companies
TJX
+$99M
4
WIX icon
WIX.com
WIX
+$96M
5
W icon
Wayfair
W
+$80.6M

Top Sells

Rank Stock Value
1
FISV
Fiserv Inc
FISV
+$74.3M
2
TREE icon
LendingTree
TREE
+$68.1M
3
SNAP icon
Snap
SNAP
+$48.2M
4
PINS icon
Pinterest
PINS
+$41.3M
5
WH icon
Wyndham Hotels & Resorts
WH
+$28.8M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 24.48%
2 Technology 23.41%
3 Communication Services 15.48%
4 Consumer Staples 3.8%
5 Industrials 1.75%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
$674M 15.2%
1,700,000
+282,000
+20% +$109M
QQQ icon
2
PUT
Invesco QQQ Trust
QQQ
$486B
$479M 10.8%
+1,500,000
New +$480M
TWTR
3
DELISTED
Twitter, Inc.
TWTR
$299M 6.75%
+4,705,400
New +$288M
AMD icon
4
Advanced Micro Devices
AMD
$773B
$238M 5.36%
+3,027,900
New +$261M
AEO icon
5
American Eagle Outfitters
AEO
$2.71B
$199M 4.48%
6,792,531
+2,766,531
+69% +$70.8M
DKS icon
6
Dick's Sporting Goods
DKS
$16.4B
$191M 4.3%
2,502,482
+850,682
+52% +$61.2M
TGT icon
7
Target
TGT
$75.1B
$133M 3.01%
673,800
+230,700
+52% +$43.2M
DISH
8
DELISTED
DISH Network Corp.
DISH
$129M 2.91%
3,569,600
+482,600
+16% +$16.1M
Z icon
9
Zillow
Z
$8.07B
$123M 2.78%
951,400
+533,700
+128% +$79.2M
TJX icon
10
TJX Companies
TJX
$155B
$97.8M 2.21%
+1,478,800
New +$99M
WIX icon
11
WIX.com
WIX
$3.43B
$93.9M 2.12%
+336,300
New +$96M
UBER icon
12
Uber
UBER
$161B
$91.1M 2.05%
1,670,429
+80,600
+5% +$4.5M
XYZ
13
Block Inc
XYZ
$49.4B
$88.9M 2.01%
391,702
+246,600
+170% +$57.7M
W icon
14
Wayfair
W
$13.9B
$86M 1.94%
+273,214
New +$80.6M
TPR icon
15
Tapestry
TPR
$26B
$82.4M 1.86%
+1,998,647
New +$77M
FTCH
16
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
$77.5M 1.75%
1,461,878
+1,134,578
+347% +$69.4M
MU icon
17
Micron Technology
MU
$1.09T
$74.6M 1.68%
845,902
+315,652
+60% +$26.8M
DIS icon
18
Walt Disney
DIS
$186B
$73.7M 1.66%
399,320
+138,700
+53% +$25.6M
LYFT icon
19
Lyft
LYFT
$6.61B
$69.4M 1.56%
1,097,700
+572,300
+109% +$31.9M
DECK icon
20
Deckers Outdoor
DECK
$12.5B
$64.6M 1.46%
1,172,400
+42,600
+4% +$2.27M
TWTR
21
CALL
DELISTED
Twitter, Inc.
TWTR
$63.6M 1.44%
+1,000,000
New +$61.1M
CARG icon
22
CarGurus
CARG
$3.28B
$63.6M 1.43%
2,667,368
+1,387,796
+108% +$40.2M
MSFT icon
23
CALL
Microsoft
MSFT
$3.59T
$56.7M 1.28%
+240,400
New +$55.8M
EA
24
DELISTED
Electronic Arts
EA
$49.7M 1.12%
+367,300
New +$50.9M
DT icon
25
Dynatrace
DT
$14.2B
$48.2M 1.09%
1,000,100
+172,400
+21% +$8.36M
1
2 3

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Gavin Baker's Q1 2021 Portfolio in Review

As of Q1 2021, Gavin Baker held 65 positions worth $4.43B, up 94% from $2.28B the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Gavin Baker deployed $1.99B of net new capital in Q1 2021, opening 24 new positions and adding to 20 existing holdings. Its largest new stake was Twitter, Inc.: 4,705,400 shares worth $299M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 24% of assets, up from 20% a quarter earlier, followed by Technology and Communication Services.

On the sell side, the largest reduction was Roku, an estimated $22.5M trimmed.

  • Gavin Baker's largest Q1 2021 buy was Twitter, Inc.: 4,705,400 shares worth $299M.
  • Gavin Baker added most to Zillow in Q1 2021, an estimated $79.2M increase.
  • Gavin Baker's biggest Q1 2021 reduction was Roku, cutting an estimated $22.5M.
  • Gavin Baker fully exited Fiserv Inc in Q1 2021, selling an estimated $74.3M.
  • Gavin Baker's ten largest holdings make up 58% of its $4.43B portfolio in Q1 2021.
  • Gavin Baker opened 24 new positions and closed 12 in Q1 2021.
  • Gavin Baker's portfolio value rose 94% quarter-over-quarter to $4.43B.

Based on Atreides Management's 13F filing for Q1 2021, filed 17 May 2021.