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Gavin Baker Atreides Management
AUM
$14.3B
Turnover
50.72%
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
+1.54%
1 Year Est. Return
+116.01%
3 Year Est. Return
+228.97%
5 Year Est. Return
+169.63%
10 Year Est. Return
–
AUM
$3.06B
AUM Growth
-$1.34B
(-30%)
Cap. Flow
-$310M
Cap. Flow % of AUM
Cap. Flow %
-10.12%
Top 10 Holdings %
Top 10 Hldgs %
49.71%
Holding
52
New
14
Increased
10
Reduced
13
Closed
12
Avg Time Held
Equity + Options
0.8
years
Top 10 Avg Time Held
Equity + Options
0.6
years
Top 20 Avg Time Held
Equity + Options
0.6
years
Avg Time Held Equity only
0.8
years
Top 10 Avg Time Held Equity only
0.6
years
Top 20 Avg Time Held Equity only
0.6
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Adobe
ADBE
|
+$126M |
| 2 |
Hewlett Packard
HPE
|
+$110M |
| 3 |
Tesla
TSLA
|
+$96.1M |
| 4 |
Sherwin-Williams
SHW
|
+$69M |
| 5 |
Apple
AAPL
|
+$61M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sea Limited
SE
|
+$209M |
| 2 |
Marvell Technology
MRVL
|
+$117M |
| 3 |
MongoDB
MDB
|
+$106M |
| 4 |
Micron Technology
MU
|
+$102M |
| 5 |
Microsoft
MSFT
|
+$75.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 57.14% |
| 2 | Consumer Discretionary | 31.82% |
| 3 | Communication Services | 6.49% |
| 4 | Materials | 2.17% |
| 5 | Financials | 1.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Marvell Technology
MRVL
$127B
| $177M | 5.78% |
2,531,792
-1,673,790
| -40% | -$117M |
2024 Q1
1 quarter
|
|
2
Ciena
CIEN
$34.5B
| $173M | 5.65% |
3,592,318
+401,565
| +13% | +$19.1M |
2023 Q3
3 quarters
|
|
3
Advanced Micro Devices
AMD
$736B
| $169M | 5.51% |
1,040,233
+23,109
| +2% | +$3.72M |
2022 Q3
7 quarters
|
|
4
Astera Labs
ALAB
$33.3B
| $168M | 5.49% |
2,776,329
+110,537
| +4% | +$7.67M |
2024 Q1
1 quarter
|
|
5
Amazon
AMZN
$2.8T
| $151M | 4.95% |
783,594
-39,585
| -5% | -$7.27M |
2023 Q4
2 quarters
|
|
|
6
Adobe
ADBE
$93.1B
| $145M | 4.74% |
+261,014
| New | +$126M |
2024 Q2
0 quarters
|
|
7
DELISTED
ACV Auctions
ACVA
| $143M | 4.67% |
7,832,630
-3,208,653
| -29% | -$57.7M |
2021 Q1
13 quarters
|
|
|
8
Tesla
TSLA
$1.42T
| $139M | 4.54% |
702,705
+549,790
| +360% | +$96.1M |
2019 Q4
18 quarters
|
|
9
Bath & Body Works
BBWI
$4.31B
| $130M | 4.26% |
3,339,380
-49,545
| -1% | -$2.27M |
2022 Q3
7 quarters
|
|
|
10
Hewlett Packard
HPE
$59.4B
| $127M | 4.13% |
+5,979,283
| New | +$110M |
2024 Q2
0 quarters
|
|
|
11
Sea Limited
SE
$46.4B
| $124M | 4.06% |
1,739,219
-3,164,393
| -65% | -$209M |
2023 Q2
4 quarters
|
|
12
Elastic
ESTC
$9.04B
| $122M | 3.99% |
1,073,482
+356,604
| +50% | +$37.5M |
2024 Q1
1 quarter
|
|
13
Everpure Inc
P
$32.2B
| $99.3M | 3.24% |
1,547,138
-1,156,198
| -43% | -$66.9M |
2022 Q3
7 quarters
|
|
14
Alphabet (Google) Class A
GOOGL
$3.5T
| $97.9M | 3.2% |
537,435
-357,775
| -40% | -$60.3M |
2024 Q1
1 quarter
|
|
|
15
Micron Technology
MU
$781B
| $95.6M | 3.12% |
726,900
-811,926
| -53% | -$102M |
2024 Q1
1 quarter
|
|
16
Wayfair
W
$15.3B
| $81.6M | 2.66% |
1,547,386
+649,037
| +72% | +$38.5M |
2021 Q1
13 quarters
|
|
17
RH
RH
$2.48B
| $74.8M | 2.44% |
306,000
+62,245
| +26% | +$16.4M |
2023 Q1
5 quarters
|
|
18
DELISTED
Confluent
CFLT
| $74.5M | 2.43% |
2,522,045
+489,776
| +24% | +$14.1M |
2023 Q1
5 quarters
|
|
|
19
Apple
AAPL
$4.98T
| $68.9M | 2.25% |
+327,083
| New | +$61M |
2024 Q2
0 quarters
|
|
20
Lumentum
LITE
$48.8B
| $67M | 2.19% |
1,315,628
+100,329
| +8% | +$4.54M |
2024 Q1
1 quarter
|
|
|
21
Sherwin-Williams
SHW
$83.1B
| $66.5M | 2.17% |
+222,951
| New | +$69M |
2024 Q2
0 quarters
|
|
22
Datadog
DDOG
$64.6B
| $59.5M | 1.94% |
458,684
+40,907
| +10% | +$4.95M |
2024 Q1
1 quarter
|
|
23
Block Inc
XYZ
$51.7B
| $54.3M | 1.77% |
842,008
-579,790
| -41% | -$40.6M |
2023 Q2
4 quarters
|
|
24
Mastercard
MA
$569B
| $53M | 1.73% |
120,117
-161,903
| -57% | -$73.8M |
2023 Q4
2 quarters
|
|
25
Ralph Lauren
RL
$22.3B
| $51.5M | 1.68% |
294,132
-147,448
| -33% | -$25.5M |
2024 Q1
1 quarter
|
|
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Gavin Baker's Q2 2024 Portfolio in Review
As of Q2 2024, Gavin Baker held 52 positions worth $3.06B, down 30% from $4.41B the previous quarter. Its ten largest holdings account for 50% of the portfolio.
Gavin Baker withdrew a net $310M in Q2 2024, closing 12 positions and reducing 13 holdings. Its most notable exit was MongoDB, an estimated $106M position sold in full.
By sector, the portfolio is most concentrated in Technology at 57% of assets, up from 40% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, Gavin Baker opened a new position in Adobe worth $145M.
- Gavin Baker's largest Q2 2024 buy was Adobe: 261,014 shares worth $145M.
- Gavin Baker added most to Tesla in Q2 2024, an estimated $96.1M increase.
- Gavin Baker's biggest Q2 2024 reduction was Sea Limited, cutting an estimated $209M.
- Gavin Baker fully exited MongoDB in Q2 2024, selling an estimated $106M.
- Gavin Baker's ten largest holdings make up 50% of its $3.06B portfolio in Q2 2024.
- Gavin Baker opened 14 new positions and closed 12 in Q2 2024.
- Gavin Baker's portfolio value fell 30% quarter-over-quarter to $3.06B.
Based on Atreides Management's 13F filing for Q2 2024, filed 14 Aug 2024.