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 |
PENN Entertainment
PENN
|
+$356M |
| 2 |
Uber
UBER
|
+$229M |
| 3 |
Twilio
TWLO
|
+$118M |
| 4 |
Match Group
MTCH
|
+$117M |
| 5 |
PLAN
Anaplan, Inc.
PLAN
|
+$114M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Advanced Micro Devices
AMD
|
+$185M |
| 2 |
XYZ
Block Inc
XYZ
|
+$127M |
| 3 |
Boston Beer
SAM
|
+$117M |
| 4 |
Netflix
NFLX
|
+$102M |
| 5 |
Tapestry
TPR
|
+$75.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 35.44% |
| 2 | Communication Services | 28.39% |
| 3 | Technology | 21.15% |
| 4 | Financials | 2.48% |
| 5 | Healthcare | 2.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Dick's Sporting Goods
DKS
$16.4B
| $387M | 9.13% |
3,228,112
+335,691
| +12% | +$39M |
|
|
2
PENN Entertainment
PENN
$2.5B
| $350M | 8.28% |
+4,836,746
| New | +$356M |
|
|
TWTR
3
DELISTED
Twitter, Inc.
TWTR
| $350M | 8.27% |
5,796,159
+209,768
| +4% | +$13.8M |
|
|
4
Uber
UBER
$161B
| $326M | 7.69% |
7,271,668
+5,250,392
| +260% | +$229M |
|
5
American Eagle Outfitters
AEO
$2.71B
| $222M | 5.25% |
8,621,729
+238,556
| +3% | +$7.58M |
|
|
DISH
6
DELISTED
DISH Network Corp.
DISH
| $203M | 4.78% |
4,659,604
+277,570
| +6% | +$11.8M |
|
7
CALL
Alphabet (Google) Class A
GOOGL
$4.22T
| $201M | 4.74% |
1,500,000
-1,500,000
| -50% | -$204M |
|
8
Walt Disney
DIS
$186B
| $135M | 3.19% |
797,934
-206,531
| -21% | -$36.8M |
|
|
9
Twilio
TWLO
$34.6B
| $128M | 3.02% |
401,172
+324,477
| +423% | +$118M |
|
10
Amazon
AMZN
$2.79T
| $126M | 2.98% |
767,980
-183,900
| -19% | -$31.7M |
|
|
11
Match Group
MTCH
$9.38B
| $121M | 2.86% |
+770,203
| New | +$117M |
|
|
PLAN
12
DELISTED
Anaplan, Inc.
PLAN
| $116M | 2.75% |
+1,911,008
| New | +$114M |
|
13
MGM Resorts International
MGM
$11B
| $115M | 2.71% |
2,655,170
+1,819,280
| +218% | +$74.1M |
|
14
Coinbase
COIN
$49.2B
| $105M | 2.48% |
461,672
+43,272
| +10% | +$10.7M |
|
|
EA
15
DELISTED
Electronic Arts
EA
| $102M | 2.41% |
717,562
-209,749
| -23% | -$29.4M |
|
16
Elastic
ESTC
$8.93B
| $99.6M | 2.35% |
668,208
+92,905
| +16% | +$14.3M |
|
17
GoodRx Holdings
GDRX
$1.18B
| $94.9M | 2.24% |
2,313,994
-1,117,901
| -33% | -$40.6M |
|
18
Coherent
COHR
$56.7B
| $91.4M | 2.16% |
1,539,633
-2,276
| -0.1% | -$149K |
|
19
Take-Two Interactive
TTWO
$44.8B
| $82.4M | 1.95% |
+535,093
| New | +$86.7M |
|
20
Target
TGT
$75.1B
| $82.4M | 1.95% |
360,130
-77,309
| -18% | -$19.4M |
|
21
Dynatrace
DT
$14.2B
| $81.1M | 1.92% |
1,143,407
-97,692
| -8% | -$6.4M |
|
22
Wayfair
W
$13.9B
| $77.2M | 1.82% |
302,273
+6,009
| +2% | +$1.69M |
|
23
Liberty Media Series C
FWONK
$26.3B
| $76.9M | 1.82% |
1,546,419
-2,424
| -0.2% | -$115K |
|
24
Deckers Outdoor
DECK
$12.5B
| $75.9M | 1.79% |
1,263,708
-259,062
| -17% | -$17.7M |
|
25
Caesars Entertainment
CZR
$6.06B
| $73.9M | 1.75% |
+658,142
| New | +$64.3M |
|
Similar funds
Gavin Baker's Q3 2021 Portfolio in Review
As of Q3 2021, Gavin Baker held 55 positions worth $4.23B, down 24% from $5.6B the previous quarter. Its ten largest holdings account for 57% of the portfolio.
Gavin Baker withdrew a net $1.16B in Q3 2021, closing 14 positions and reducing 13 holdings. Its most notable exit was Advanced Micro Devices, an estimated $185M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 35% of assets, up from 20% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Gavin Baker opened a new position in PENN Entertainment worth $350M.
- Gavin Baker's largest Q3 2021 buy was PENN Entertainment: 4,836,746 shares worth $350M.
- Gavin Baker added most to Uber in Q3 2021, an estimated $229M increase.
- Gavin Baker's biggest Q3 2021 reduction was GoodRx Holdings, cutting an estimated $40.6M.
- Gavin Baker fully exited Advanced Micro Devices in Q3 2021, selling an estimated $185M.
- Gavin Baker's ten largest holdings make up 57% of its $4.23B portfolio in Q3 2021.
- Gavin Baker opened 11 new positions and closed 14 in Q3 2021.
- Gavin Baker's portfolio value fell 24% quarter-over-quarter to $4.23B.
Based on Atreides Management's 13F filing for Q3 2021, filed 15 Nov 2021.