Atreides Management

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Gavin Baker's Atreides Management reported 56 stock positions worth $3.8 billion. Its top holding was Everpure Class A (P) at 8.9% of the portfolio, followed by Gitlab Class A (GTLB, 6.4%) and Unity Software (U, 6.4%). Compared with Q2 2025, it opened 13 new positions, sold out of 5, added to 12 and reduced 29. The biggest buy was Everpure Class A (P, shares +15%) and the biggest sale Advanced Micro Devices (AMD, shares −80%).

Most Recent 13F
Q2 2026
Notable People
Gavin Baker
Location
BOSTON, MA
CIK
0001777813
Portfolio Value
$3.8B (Q3 2025)
SEC Filing
0001777813-25-000008 ↗ filed Nov 14, 2025

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 $3.8B Q3 2025 Q4 2025: $4.7B Q4 2025 Q1 2026: $4.1B Q1 2026 Q2 2026: $11.1B Q2 2026

Holdings 56 stocks · $3.8B
P Everpure Inc. Class A filed as PURE STORAGE INC 8.92% 4,098,376 $343.5M Add +15.4%
GTLB Gitlab Inc. Class A 6.41% 5,470,305 $246.6M Add +38.9%
U Unity Software Inc. 6.36% 6,111,553 $244.7M Reduce -1.0%
CIEN Ciena Corp. 5.30% 1,400,764 $204.0M Add +10.9%
AMZN Amazon.com Inc. 3.76% 658,886 $144.7M Reduce -8.3%
GOOGL Alphabet Inc. Class A 3.47% 550,260 $133.8M Reduce -42.1%
DECK Deckers Outdoor Corp. 3.29% 1,250,516 $126.8M Add +46.8%
MU Micron Technology Inc. 3.15% 724,957 $121.3M Add +928.6%
HUBS HubSpot Inc. 2.96% 243,434 $113.9M New
NVDA Nvidia Corp. 2.79% 574,723 $107.2M Reduce -16.7%
DKS Dick's Sporting Goods Inc. 2.78% 481,386 $107.0M Reduce -44.9%
LITE Lumentum Holdings Inc. 2.78% 656,960 $106.9M Reduce -62.6%
SNOW Snowflake Inc. 2.75% 469,545 $105.9M Reduce -10.7%
RBLX Roblox Corp. Class A 2.65% 737,007 $102.1M Reduce -29.9%
COHR Coherent Corp. 2.56% 913,778 $98.4M New
TWLO Twilio Inc. Class A 2.51% 965,763 $96.7M Add +32.2%
INTU Intuit Inc. 2.40% 135,178 $92.3M New
TSLA Tesla Inc. 2.39% 206,562 $91.9M Reduce -35.8%
INTC Intel Corp. 2.28% 2,611,037 $87.6M New
W Wayfair Inc. Class A 1.98% 854,390 $76.3M Add +17.5%
ELF Elf Beauty Inc. 1.85% 538,348 $71.3M Add +9.0%
TTAN Servicetitan Inc. Class A 1.64% 626,227 $63.1M Reduce -2.3%
RBRK Rubrik Inc. Class A 1.61% 752,752 $61.9M Add +59.7%
AMD Advanced Micro Devices 1.43% 339,358 $54.9M Reduce -80.5%
ACVA Acv Auctions Inc. Class A 1.42% 5,510,790 $54.6M Add +17.4%
FERG Ferguson Enterprises Inc. 1.30% 222,624 $50.0M Reduce -25.3%
TEAM Atlassian Corp. Class A 1.27% 305,231 $48.7M New
META Meta Platforms Inc. Class A 1.26% 66,093 $48.5M Reduce -54.2%
SMTC Semtech Corp. 1.26% 678,133 $48.5M Add +2.5%
SE Sea Ltd.-ADR 1.25% 270,173 $48.3M Reduce -20.8%
AZO AutoZone Inc. 1.22% 10,928 $46.9M Add +13.1%
AMSC American Superconductor Corp. 1.19% 771,495 $45.8M Reduce -30.1%
PM Philip Morris International 1.18% 279,097 $45.3M New
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 1.04% 2,509,389 $40.2M Reduce -8.6%
RL Ralph Lauren Corp. 1.02% 125,100 $39.2M Reduce -30.2%
VRNS Varonis Systems Inc. 0.98% 658,415 $37.8M New
IOT Samsara Inc. Class A 0.69% 711,215 $26.5M New
AXON Axon Enterprise Inc. 0.68% 36,461 $26.2M Reduce -30.2%
MA Mastercard Inc. Class A 0.67% 45,068 $25.6M Reduce -30.2%
AMBQ Ambiq Micro Inc. 0.53% 684,307 $20.5M New
RKT Rocket Cos Inc. Class A 0.50% 1,000,657 $19.4M Reduce -42.2%
SNPS Synopsys Inc. 0.50% 38,876 $19.2M New
FROG Jfrog Ltd. 0.49% 397,244 $18.8M New
FIVN FIVE9 Inc. 0.46% 735,151 $17.8M Reduce -23.1%
BLDR Builders Firstsource Inc. 0.43% 137,154 $16.6M Reduce -57.4%
AFRM Affirm Holdings Inc. 0.39% 207,905 $15.2M Reduce -89.5%
MELI MercadoLibre Inc. 0.36% 5,896 $13.8M Reduce -67.1%
ROG Rogers Corp. 0.35% 168,925 $13.6M Reduce -10.2%
APP AppLovin Corp. Class A 0.32% 17,378 $12.5M New
JOBY Joby Aviation Inc. 0.32% 769,407 $12.4M Reduce -23.1%
ALAB Astera Labs Inc. 0.32% 62,050 $12.1M Reduce -93.5%
Z Zillow Group Inc. Class C 0.24% 118,098 $9.1M Reduce -86.2%
CRWV Coreweave Inc. Class A 0.22% 62,904 $8.6M Reduce -59.3%
TBLA Taboola.com Ltd. 0.06% 725,000 $2.5M No change
GEMI Gemini Space Station Inc. Class A 0.04% 70,000 $1.7M New
SONDQ Sonder Holdings Inc. 0.03% 960,533 $1.2M No change

Options reported separately and not counted above: QQQ puts ($1.2B), MRVL calls ($84.1M).

Portfolio Sells Q2 2025 → Q3 2025
AMD Advanced Micro Devices Reduce -80.5% 1.43% −5.41
AFRM Affirm Holdings Inc. Reduce -89.5% 0.39% −3.40
CFLT Confluent Inc. Class A Sold out 0.00% −2.08
ALAB Astera Labs Inc. Reduce -93.5% 0.32% −2.08
DKS Dick's Sporting Goods Inc. Reduce -44.9% 2.78% −2.01
LITE Lumentum Holdings Inc. Reduce -62.6% 2.78% −1.86
FSLR First Solar Inc. Sold out 0.00% −1.81
META Meta Platforms Inc. Class A Reduce -54.2% 1.26% −1.70
Z Zillow Group Inc. Class C Reduce -86.2% 0.24% −1.43
GOOGL Alphabet Inc. Class A Reduce -42.1% 3.47% −1.18
S Sentinelone Inc. Class A Sold out 0.00% −0.97
MELI MercadoLibre Inc. Reduce -67.1% 0.36% −0.94
AMZN Amazon.com Inc. Reduce -8.3% 3.76% −0.62
BLDR Builders Firstsource Inc. Reduce -57.4% 0.43% −0.61
AXON Axon Enterprise Inc. Reduce -30.2% 0.68% −0.52
SNOW Snowflake Inc. Reduce -10.7% 2.75% −0.51
FERG Ferguson Enterprises Inc. Reduce -25.3% 1.30% −0.50
CRWV Coreweave Inc. Class A Reduce -59.3% 0.22% −0.48
TSLA Tesla Inc. Reduce -35.8% 2.39% −0.45
RBLX Roblox Corp. Class A Reduce -29.9% 2.65% −0.41
RL Ralph Lauren Corp. Reduce -30.2% 1.02% −0.35
MA Mastercard Inc. Class A Reduce -30.2% 0.67% −0.34
TTAN Servicetitan Inc. Class A Reduce -2.3% 1.64% −0.27
SE Sea Ltd.-ADR Reduce -20.8% 1.25% −0.26
FIVN FIVE9 Inc. Reduce -23.1% 0.46% −0.24
NVDA Nvidia Corp. Reduce -16.7% 2.79% −0.24
RKT Rocket Cos Inc. Class A Reduce -42.2% 0.50% −0.18
VOYG Voyager Technologies Inc. Class A Sold out 0.00% −0.01
CHYM Chime Financial Inc. Class A Sold out 0.00% −0.01
ROG Rogers Corp. Reduce -10.2% 0.35% −0.00
NU Nu Holdings Ltd./Cayman Isl-A Reduce -8.6% 1.04% −0.00
JOBY Joby Aviation Inc. Reduce -23.1% 0.32% +0.03
AMSC American Superconductor Corp. Reduce -30.1% 1.19% +0.07
U Unity Software Inc. Reduce -1.0% 6.36% +2.21

Portfolio Buys Q2 2025 → Q3 2025
P Everpure Inc. Class A Add +15.4% 8.92% +3.25
HUBS HubSpot Inc. New 2.96% +2.96
MU Micron Technology Inc. Add +928.6% 3.15% +2.91
COHR Coherent Corp. New 2.56% +2.56
CIEN Ciena Corp. Add +10.9% 5.30% +2.45
INTU Intuit Inc. New 2.40% +2.40
INTC Intel Corp. New 2.28% +2.28
GTLB Gitlab Inc. Class A Add +38.9% 6.41% +1.48
TEAM Atlassian Corp. Class A New 1.27% +1.27
PM Philip Morris International New 1.18% +1.18
VRNS Varonis Systems Inc. New 0.98% +0.98
W Wayfair Inc. Class A Add +17.5% 1.98% +0.95
DECK Deckers Outdoor Corp. Add +46.8% 3.29% +0.86
IOT Samsara Inc. Class A New 0.69% +0.69
AMBQ Ambiq Micro Inc. New 0.53% +0.53
SNPS Synopsys Inc. New 0.50% +0.50
FROG Jfrog Ltd. New 0.49% +0.49
RBRK Rubrik Inc. Class A Add +59.7% 1.61% +0.44
SMTC Semtech Corp. Add +2.5% 1.26% +0.43
APP AppLovin Corp. Class A New 0.32% +0.32
AZO AutoZone Inc. Add +13.1% 1.22% +0.22
ELF Elf Beauty Inc. Add +9.0% 1.85% +0.15
GEMI Gemini Space Station Inc. Class A New 0.04% +0.04
TWLO Twilio Inc. Class A Add +32.2% 2.51% −0.01
ACVA Acv Auctions Inc. Class A Add +17.4% 1.42% −0.69

Options Activity Q2 2025 → Q3 2025
QQQ Invesco QQQ Trust Series 1 put New 2,000,000 $1.2B
MRVL Marvell Technology Inc. call New 1,000,000 $84.1M

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