Atreides Management

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Gavin Baker's Atreides Management reported 46 stock positions worth $11.1 billion. Its top holding was Space Exploration Techn Class A (SPCX) at 41.9% of the portfolio, followed by Micron Technology (MU, 7.4%) and Cerebras Systems Class A (CBRS, 6.2%). Compared with Q1 2026, it opened 13 new positions, sold out of 18, added to 26 and reduced 7. The biggest buy was a new position in Space Exploration Techn Class A (SPCX) and the biggest sale an exit from Lumentum (LITE).

Most Recent 13F
Q2 2026
Notable People
Gavin Baker
Location
BOSTON, MA
CIK
0001777813
Portfolio Value
$11.1B (Q2 2026)
SEC Filing
0001777813-26-000009 ↗ filed Aug 14, 2026

Holdings Value

0$5.0B$10.0B$15.0B Q1 2024: $3.3B Q1 2024 Q2 2024: $3.1B Q2 2024 Q3 2024: $3.0B Q3 2024 Q4 2024: $3.2B Q4 2024 Q1 2025: $2.8B Q1 2025 Q2 2025: $3.6B Q2 2025 Q3 2025: $3.8B Q3 2025 Q4 2025: $4.7B Q4 2025 Q1 2026: $4.1B Q1 2026 Q2 2026: $11.1B $11.1B Q2 2026

Holdings 46 stocks · $11.1B
SPCX Space Exploration Techn Class A 41.89% 27,332,943 $4.7B New
MU Micron Technology Inc. 7.37% 711,364 $821.1M Reduce -6.5%
CBRS Cerebras Systems Inc. Class A 6.17% 3,110,086 $687.3M New
ALAB Astera Labs Inc. 5.27% 1,216,795 $587.7M Reduce -63.9%
CIEN Ciena Corp. 3.03% 688,521 $337.8M Add +1.7%
CRDO Credo Technology Group Holdi 2.75% 1,129,285 $307.1M Add +3.5%
PANW Palo Alto Networks Inc. 2.68% 876,954 $299.1M Add +56.1%
U Unity Software Inc. 2.63% 10,245,819 $292.8M Reduce -17.3%
COHR Coherent Corp. 2.27% 642,101 $253.3M Add +1.7%
NVDA Nvidia Corp. 2.24% 1,249,291 $250.0M Add +0.1%
AMZN Amazon.com Inc. 2.07% 969,629 $231.1M Add +1.7%
META Meta Platforms Inc. Class A 2.04% 402,770 $226.9M New
CRWV Coreweave Inc. Class A 1.90% 2,124,845 $211.5M Add +162.2%
GOOGL Alphabet Inc. Class A 1.57% 488,296 $174.5M Reduce -12.0%
TWLO Twilio Inc. Class A 1.33% 720,338 $148.6M Reduce -21.8%
APH Amphenol Corp. Class A 1.01% 640,069 $112.9M New
AKAM Akamai Technologies Inc. 0.97% 910,583 $107.6M Add +33.4%
AFRM Affirm Holdings Inc. 0.93% 1,273,050 $103.8M Add +6.6%
GTLB Gitlab Inc. Class A 0.92% 3,373,169 $103.0M New
INTC Intel Corp. 0.83% 663,802 $92.7M Add +1.5%
SMTC Semtech Corp. 0.80% 551,214 $89.2M Add +1.7%
CIFR Cipher Digital Inc. 0.79% 3,586,409 $87.9M New
TSLA Tesla Inc. 0.77% 204,275 $85.9M Add +1.7%
DKS Dick's Sporting Goods Inc. 0.76% 375,118 $85.1M Reduce -17.1%
W Wayfair Inc. Class A 0.70% 843,860 $78.0M Reduce -41.0%
AMBQ Ambiq Micro Inc. 0.69% 877,123 $77.4M Add +1.7%
IOT Samsara Inc. Class A 0.67% 2,308,649 $74.9M New
ACVA Acv Auctions Inc. Class A 0.64% 9,903,239 $71.2M Add +1.7%
COMP Compass Inc. Class A 0.63% 5,658,421 $69.8M Add +1.7%
WIX Wix.com Ltd. 0.59% 1,458,458 $66.2M Add +124.2%
MA Mastercard Inc. Class A 0.43% 93,629 $48.1M Add +88.8%
PDFS PDF Solutions Inc. 0.42% 658,536 $46.6M New
TTAN Servicetitan Inc. Class A 0.34% 542,092 $38.3M New
FERG Ferguson Enterprises Inc. 0.31% 147,759 $35.1M Add +1.0%
NOK Nokia Corp.-Spon ADR 0.30% 2,524,974 $33.5M Add +1.7%
ROG Rogers Corp. 0.28% 189,311 $31.0M Add +1.7%
NTRA Natera Inc. 0.25% 104,385 $28.3M New
WRBY Warby Parker Inc. Class A 0.19% 698,903 $21.2M Add +1.7%
VECO Veeco Instruments Inc. 0.16% 237,919 $18.0M Add +1.7%
NBIS Nebius Group NV 0.16% 64,125 $17.7M Add +1.7%
INIO Innio NV 0.12% 348,696 $13.8M New
EQPT Equipmentshare.com Inc. Class A 0.04% 217,131 $4.3M Add +1.7%
TBLA Taboola.com Ltd. 0.04% 835,026 $4.2M Add +1.7%
QNT Quantinuum Inc. Class A 0.03% 39,853 $3.3M New
FRVO Fervo Energy Co. Class A 0.00% 9,959 $291K New
BTGO Bitgo Holdings Inc. Class A 0.00% 29,611 $153K Add +1.7%

Options reported separately and not counted above: QQQ puts ($2.4B), META calls ($675.9M), CBRS calls ($154.7M).

Portfolio Sells Q1 2026 → Q2 2026
LITE Lumentum Holdings Inc. Sold out 0.00% −4.58
U Unity Software Inc. Reduce -17.3% 2.63% −3.99
ALAB Astera Labs Inc. Reduce -63.9% 5.27% −3.72
ECHO Echostar Corp. Class A Sold out 0.00% −2.85
ZM Zoom Communications Inc. Sold out 0.00% −2.58
GOOGL Alphabet Inc. Class A Reduce -12.0% 1.57% −2.32
RKT Rocket Cos Inc. Class A Sold out 0.00% −2.12
W Wayfair Inc. Class A Reduce -41.0% 0.70% −1.92
VST Vistra Corp. Sold out 0.00% −1.92
RBLX Roblox Corp. Class A Sold out 0.00% −1.91
TWLO Twilio Inc. Class A Reduce -21.8% 1.33% −1.49
DKS Dick's Sporting Goods Inc. Reduce -17.1% 0.76% −1.42
HUBS HubSpot Inc. Sold out 0.00% −1.38
SNPS Synopsys Inc. Sold out 0.00% −1.32
RL Ralph Lauren Corp. Sold out 0.00% −1.08
AXON Axon Enterprise Inc. Sold out 0.00% −1.06
WING Wingstop Inc. Sold out 0.00% −1.02
CHYM Chime Financial Inc. Class A Sold out 0.00% −0.74
AVAV Aerovironment Inc. Sold out 0.00% −0.72
RBRK Rubrik Inc. Class A Sold out 0.00% −0.68
FROG Jfrog Ltd. Sold out 0.00% −0.63
SNOW Snowflake Inc. Sold out 0.00% −0.53
V Visa Inc. Class A Sold out 0.00% −0.53
GFS Globalfoundries Inc. Sold out 0.00% −0.51
MU Micron Technology Inc. Reduce -6.5% 7.37% +1.11

Portfolio Buys Q1 2026 → Q2 2026
SPCX Space Exploration Techn Class A New 41.89% +41.89
CBRS Cerebras Systems Inc. Class A New 6.17% +6.17
META Meta Platforms Inc. Class A New 2.04% +2.04
APH Amphenol Corp. Class A New 1.01% +1.01
GTLB Gitlab Inc. Class A New 0.92% +0.92
CIFR Cipher Digital Inc. New 0.79% +0.79
IOT Samsara Inc. Class A New 0.67% +0.67
PANW Palo Alto Networks Inc. Add +56.1% 2.68% +0.49
PDFS PDF Solutions Inc. New 0.42% +0.42
CRWV Coreweave Inc. Class A Add +162.2% 1.90% +0.37
TTAN Servicetitan Inc. Class A New 0.34% +0.34
CRDO Credo Technology Group Holdi Add +3.5% 2.75% +0.26
NTRA Natera Inc. New 0.25% +0.25
AMBQ Ambiq Micro Inc. Add +1.7% 0.69% +0.16
INTC Intel Corp. Add +1.5% 0.83% +0.13
INIO Innio NV New 0.12% +0.12
QNT Quantinuum Inc. Class A New 0.03% +0.03
FRVO Fervo Energy Co. Class A New 0.00% +0.00
NBIS Nebius Group NV Add +1.7% 0.16% −0.00
BTGO Bitgo Holdings Inc. Class A Add +1.7% 0.00% −0.00
TBLA Taboola.com Ltd. Add +1.7% 0.04% −0.02
VECO Veeco Instruments Inc. Add +1.7% 0.16% −0.03
EQPT Equipmentshare.com Inc. Class A Add +1.7% 0.04% −0.07
WRBY Warby Parker Inc. Class A Add +1.7% 0.19% −0.16
MA Mastercard Inc. Class A Add +88.8% 0.43% −0.17
NOK Nokia Corp.-Spon ADR Add +1.7% 0.30% −0.19
ROG Rogers Corp. Add +1.7% 0.28% −0.21
SMTC Semtech Corp. Add +1.7% 0.80% −0.21
COMP Compass Inc. Class A Add +1.7% 0.63% −0.36
ACVA Acv Auctions Inc. Class A Add +1.7% 0.64% −0.37
AFRM Affirm Holdings Inc. Add +6.6% 0.93% −0.40
FERG Ferguson Enterprises Inc. Add +1.0% 0.31% −0.52
WIX Wix.com Ltd. Add +124.2% 0.59% −0.83
AKAM Akamai Technologies Inc. Add +33.4% 0.97% −0.95
TSLA Tesla Inc. Add +1.7% 0.77% −1.05
COHR Coherent Corp. Add +1.7% 2.27% −1.39
AMZN Amazon.com Inc. Add +1.7% 2.07% −2.77
NVDA Nvidia Corp. Add +0.1% 2.24% −3.06
CIEN Ciena Corp. Add +1.7% 3.03% −3.37

Options Activity Q1 2026 → Q2 2026
QQQ Invesco QQQ Trust Series 1 put Add +128.6% 3,200,000 $2.4B
META Meta Platforms Inc. Class A call New 1,200,000 $675.9M
CBRS Cerebras Systems Inc. Class A call New 700,000 $154.7M
RBLX Roblox Corp. Class A call Sold out 1,000,000 $56.6Mbefore exit
U Unity Software Inc. call Sold out 1,500,000 $32.9Mbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 46$11.1BSPCX, MU, CBRS, ALAB, CIEN
Q1 2026 51$4.1BALAB, U, CIEN, MU, NVDA
Q4 2025 49$4.7BNVDA, CIEN, U, P, ALAB
Q3 2025 56$3.8BP, GTLB, U, CIEN, AMZN
Q2 2025 48$3.6BAMD, P, GTLB, DKS, GOOGL
Q1 2025 41$2.8BALAB, AMD, U, MSFT, META
Q4 2024 44$3.2BALAB, AMD, ASML, AMZN, LITE
Q3 2024 35$3.0BALAB, AMD, AMZN, TSLA, ADBE
Q2 2024 40$3.1BMRVL, CIEN, AMD, ALAB, AMZN
Q1 2024 34$3.3BMRVL, SE, ACVA, ALAB, AMD