We are live on ! Find out more
GB

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
+31.65%
1 Year Est. Return
+116.01%
3 Year Est. Return
+228.97%
5 Year Est. Return
+169.63%
10 Year Est. Return
–
AUM
$3.6B
AUM Growth
+$310M
Cap. Flow
-$551M
Cap. Flow %
-15.29%
Top 10 Hldgs %
47.1%
Holding
61
New
17
Increased
13
Reduced
15
Closed
13

Top Buys

Rank Stock Value
1
P
Everpure Inc
P
+$177M
2
DKS icon
Dick's Sporting Goods
DKS
+$162M
3
GTLB icon
GitLab
GTLB
+$161M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$125M
5
CIEN icon
Ciena
CIEN
+$90.6M

Top Sells

Rank Stock Value
1
ALAB icon
Astera Labs
ALAB
+$292M
2
CRWV
CoreWeave
CRWV
+$159M
3
MSFT icon
Microsoft
MSFT
+$158M
4
RH icon
RH
RH
+$111M
5
ULTA icon
Ulta Beauty
ULTA
+$79.7M

Sector Composition

Rank Sector Weight
1 Technology 51.05%
2 Consumer Discretionary 22.83%
3 Communication Services 12.41%
4 Financials 6.53%
5 Industrials 5.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AMD icon
1
Advanced Micro Devices
AMD
$773B
$246M 6.84%
1,736,364
-366,599
-17% -$39.9M
P
2
Everpure Inc
P
$36.1B
$205M 5.68%
+3,552,486
New +$177M
GTLB icon
3
GitLab
GTLB
$7.04B
$178M 4.93%
3,938,198
+3,531,070
+867% +$161M
DKS icon
4
Dick's Sporting Goods
DKS
$16.4B
$173M 4.79%
+873,137
New +$162M
GOOGL icon
5
Alphabet (Google) Class A
GOOGL
$4.22T
$168M 4.65%
950,859
+761,782
+403% +$125M
LITE icon
6
Lumentum
LITE
$77.7B
$167M 4.64%
1,757,561
-117,696
-6% -$8.35M
AMZN icon
7
Amazon
AMZN
$2.79T
$158M 4.37%
718,465
+29,234
+4% +$5.79M
U icon
8
Unity
U
$20.7B
$149M 4.14%
6,171,155
-3,259,800
-35% -$71.7M
AFRM icon
9
Affirm
AFRM
$25.8B
$137M 3.79%
1,977,882
+1,670,429
+543% +$86.6M
SNOW icon
10
Snowflake
SNOW
$115B
$118M 3.26%
525,769
-82,946
-14% -$15M
RBLX icon
11
Roblox
RBLX
$27.4B
$111M 3.07%
1,050,542
-971,030
-48% -$76.3M
NVDA icon
12
NVIDIA
NVDA
$5.2T
$109M 3.02%
689,813
-395,815
-36% -$49.8M
META icon
13
Meta Platforms (Facebook)
META
$1.4T
$107M 2.96%
144,333
-95,456
-40% -$59M
CIEN icon
14
Ciena
CIEN
$56B
$103M 2.85%
+1,262,818
New +$90.6M
TSLA icon
15
Tesla
TSLA
$1.43T
$102M 2.84%
321,897
+126,355
+65% +$38.1M
TWLO icon
16
Twilio
TWLO
$34.6B
$90.8M 2.52%
730,300
+614,943
+533% +$65.4M
DECK icon
17
Deckers Outdoor
DECK
$12.5B
$87.8M 2.44%
852,120
-226,573
-21% -$25.1M
ALAB icon
18
Astera Labs
ALAB
$49.4B
$86.3M 2.4%
954,783
-3,697,481
-79% -$292M
ACVA icon
19
ACV Auctions
ACVA
$1.26B
$76.1M 2.11%
4,694,234
-36,845
-0.8% -$573K
CFLT
20
DELISTED
Confluent
CFLT
$75.1M 2.08%
3,012,215
+1,357,246
+82% +$30.6M
TTAN
21
ServiceTitan Inc
TTAN
$9.05B
$68.7M 1.91%
+640,778
New +$71.6M
FSLR icon
22
First Solar
FSLR
$23B
$65.1M 1.81%
+393,464
New +$58.1M
FERG icon
23
Ferguson
FERG
$46.9B
$64.9M 1.8%
297,956
+17,877
+6% +$3.29M
ELF icon
24
e.l.f. Beauty
ELF
$6.02B
$61.5M 1.71%
+494,047
New +$42.2M
Z icon
25
Zillow
Z
$8.07B
$60M 1.66%
856,008
+386,947
+82% +$26.1M
1
2 3

Similar funds

NYLIM
New York Life Investment Management New York $14.3B AUM 34.42% 1-Year Est. Return
AAMU
APG Asset Management US New York $14.3B AUM 16.79% 1-Year Est. Return
IA
Investor AB Stockholm, Sweden $14.4B AUM 4.07% 1-Year Est. Return
BIP
Brandes Investment Partners La Jolla, California $14.3B AUM 23.11% 1-Year Est. Return
CII
Capital International Inc Los Angeles, California $14.3B AUM 34.19% 1-Year Est. Return
ZIG
Zurich Insurance Group Zurich, Switzerland $14.4B AUM 63.77% 1-Year Est. Return
ACM
AH Capital Management Menlo Park, California $14.2B AUM 20.01% 1-Year Est. Return
AB
Amalgamated Bank New York $14.5B AUM 44.3% 1-Year Est. Return

Gavin Baker's Q2 2025 Portfolio in Review

As of Q2 2025, Gavin Baker held 61 positions worth $3.6B, up 9.4% from $3.29B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Gavin Baker withdrew a net $551M in Q2 2025, closing 13 positions and reducing 15 holdings. Its most notable exit was Microsoft, an estimated $158M position sold in full.

By sector, the portfolio is most concentrated in Technology at 51% of assets, up from 49% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Gavin Baker opened a new position in Everpure Inc worth $205M.

  • Gavin Baker's largest Q2 2025 buy was Everpure Inc: 3,552,486 shares worth $205M.
  • Gavin Baker added most to GitLab in Q2 2025, an estimated $161M increase.
  • Gavin Baker's biggest Q2 2025 reduction was Astera Labs, cutting an estimated $292M.
  • Gavin Baker fully exited Microsoft in Q2 2025, selling an estimated $158M.
  • Gavin Baker's ten largest holdings make up 47% of its $3.6B portfolio in Q2 2025.
  • Gavin Baker opened 17 new positions and closed 13 in Q2 2025.
  • Gavin Baker's portfolio value rose 9.4% quarter-over-quarter to $3.6B.

Based on Atreides Management's 13F filing for Q2 2025, filed 14 Aug 2025.