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 |
Astera Labs
ALAB
|
+$206M |
| 2 |
Advanced Micro Devices
AMD
|
+$156M |
| 3 |
Deckers Outdoor
DECK
|
+$90.2M |
| 4 |
Ulta Beauty
ULTA
|
+$70.4M |
| 5 |
Five Below
FIVE
|
+$65.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Marvell Technology
MRVL
|
+$177M |
| 2 |
Hewlett Packard
HPE
|
+$127M |
| 3 |
P
Everpure Inc
P
|
+$99.3M |
| 4 |
Bath & Body Works
BBWI
|
+$79.4M |
| 5 |
Ciena
CIEN
|
+$72.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 40.18% |
| 2 | Consumer Discretionary | 28.96% |
| 3 | Communication Services | 2.56% |
| 4 | Financials | 1.53% |
| 5 | Real Estate | 1.1% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
Invesco QQQ Trust
QQQ
$486B
| $488M | 12.43% |
+1,000,000
| New | +$473M |
|
|
2
Astera Labs
ALAB
$49.4B
| $376M | 9.56% |
7,168,490
+4,392,161
| +158% | +$206M |
|
|
3
Advanced Micro Devices
AMD
$773B
| $339M | 8.62% |
2,064,000
+1,023,767
| +98% | +$156M |
|
4
Amazon
AMZN
$2.79T
| $173M | 4.42% |
931,107
+147,513
| +19% | +$26.9M |
|
5
Tesla
TSLA
$1.43T
| $149M | 3.79% |
569,075
-133,630
| -19% | -$30.5M |
|
6
Adobe
ADBE
$109B
| $146M | 3.72% |
281,890
+20,876
| +8% | +$11.4M |
|
7
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $143M | 3.65% |
+250,000
| New | +$138M |
|
|
8
Ciena
CIEN
$56B
| $137M | 3.48% |
2,219,211
-1,373,107
| -38% | -$72.4M |
|
9
Elastic
ESTC
$8.93B
| $130M | 3.3% |
1,687,791
+614,309
| +57% | +$60.6M |
|
10
RH
RH
$2.9B
| $117M | 2.99% |
351,174
+45,174
| +15% | +$12.4M |
|
11
ACV Auctions
ACVA
$1.26B
| $116M | 2.94% |
5,684,445
-2,148,185
| -27% | -$39.6M |
|
12
Lumentum
LITE
$77.7B
| $107M | 2.73% |
1,691,017
+375,389
| +29% | +$20.3M |
|
13
Sea Limited
SE
$72B
| $101M | 2.58% |
1,074,456
-664,763
| -38% | -$50.2M |
|
14
Apple
AAPL
$4.51T
| $99M | 2.52% |
424,965
+97,882
| +30% | +$21.9M |
|
|
15
Deckers Outdoor
DECK
$12.5B
| $94.3M | 2.4% |
+591,144
| New | +$90.2M |
|
16
SentinelOne
S
$7.26B
| $91M | 2.32% |
3,802,904
+2,200,594
| +137% | +$49.7M |
|
|
17
CALL
RH
RH
$2.9B
| $83.6M | 2.13% |
+250,000
| New | +$68.8M |
|
|
18
CALL
Advanced Micro Devices
AMD
$773B
| $82M | 2.09% |
+500,000
| New | +$76M |
|
19
Wayfair
W
$13.9B
| $78.1M | 1.99% |
1,390,537
-156,849
| -10% | -$7.56M |
|
20
Ralph Lauren
RL
$22.2B
| $73.2M | 1.86% |
377,481
+83,349
| +28% | +$14.4M |
|
|
21
Ulta Beauty
ULTA
$22.4B
| $73.1M | 1.86% |
+187,780
| New | +$70.4M |
|
|
22
Five Below
FIVE
$13.8B
| $68.6M | 1.75% |
+777,011
| New | +$65.5M |
|
23
Mercado Libre
MELI
$97.5B
| $58.8M | 1.5% |
28,662
+2,052
| +8% | +$3.86M |
|
|
CFLT
24
DELISTED
Confluent
CFLT
| $55.2M | 1.4% |
2,706,910
+184,865
| +7% | +$4.14M |
|
|
25
CALL
Astera Labs
ALAB
$49.4B
| $52.4M | 1.33% |
+1,000,000
| New | +$46.9M |
|
Similar funds
Gavin Baker's Q3 2024 Portfolio in Review
As of Q3 2024, Gavin Baker held 54 positions worth $3.93B, up 28% from $3.06B the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Gavin Baker deployed $710M of net new capital in Q3 2024, opening 14 new positions and adding to 14 existing holdings. Its largest new stake was Deckers Outdoor: 591,144 shares worth $94.3M.
By sector, the portfolio is most concentrated in Technology at 40% of assets, down from 57% a quarter earlier, followed by Consumer Discretionary and Communication Services.
On the sell side, the largest reduction was Bath & Body Works, an estimated $79.4M trimmed.
- Gavin Baker's largest Q3 2024 buy was Deckers Outdoor: 591,144 shares worth $94.3M.
- Gavin Baker added most to Astera Labs in Q3 2024, an estimated $206M increase.
- Gavin Baker's biggest Q3 2024 reduction was Bath & Body Works, cutting an estimated $79.4M.
- Gavin Baker fully exited Marvell Technology in Q3 2024, selling an estimated $177M.
- Gavin Baker's ten largest holdings make up 56% of its $3.93B portfolio in Q3 2024.
- Gavin Baker opened 14 new positions and closed 11 in Q3 2024.
- Gavin Baker's portfolio value rose 28% quarter-over-quarter to $3.93B.
Based on Atreides Management's 13F filing for Q3 2024, filed 14 Nov 2024.