In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 18, 2026), Gavin Baker's Atreides Management reported 51 stock positions worth $4.1 billion . Its top holding was Astera Labs (ALAB) at 9.0% of the portfolio, followed by Unity Software (U, 6.6% ) and Ciena (CIEN, 6.4% ). Compared with Q4 2025, it opened 15 new positions, sold out of 13, added to 21 and reduced 15. The biggest buy was Astera Labs (ALAB, shares +109% ) and the biggest sale an exit from Everpure Class A (P).
Notable People Gavin Baker
Location BOSTON, MA
CIK 0001777813
Portfolio Value $4.1B (Q1 2026) Holdings 51 stocks · $4.1B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2025 ALAB Astera Labs Inc. 3,365,787 $368.9M Add +108.9% U Unity Software Inc. 12,385,322 $271.7M Add +86.9% CIEN Ciena Corp. 676,807 $262.8M Reduce -52.6% MU Micron Technology Inc. 760,426 $256.9M Add +2.9% NVDA Nvidia Corp. 1,248,592 $217.8M Reduce -35.1% AMZN Amazon.com Inc. 953,560 $198.6M Add +38.6% LITE Lumentum Holdings Inc. 267,389 $187.9M Reduce -30.1% GOOGL Alphabet Inc. Class A 555,023 $159.6M Add +7.9% COHR Coherent Corp. 631,159 $150.3M Reduce -48.9% ECHO Echostar Corp. Class A 1,000,346 $117.1M Add +11.0% TWLO Twilio Inc. Class A 921,602 $116.0M Add +28.6% W Wayfair Inc. Class A 1,430,997 $107.6M Add +64.3% ZM Zoom Communications Inc. 1,315,605 $105.8M New CRDO Credo Technology Group Holdi 1,091,233 $102.4M New PANW Palo Alto Networks Inc. 561,797 $90.1M New DKS Dick's Sporting Goods Inc. 452,531 $89.7M Reduce -7.8% RKT Rocket Cos Inc. Class A 6,114,947 $87.1M Add +69.7% VST Vistra Corp. 523,788 $78.7M New AKAM Akamai Technologies Inc. 682,837 $78.4M New RBLX Roblox Corp. Class A 1,383,703 $78.3M Add +255.2% TSLA Tesla Inc. 200,795 $74.6M Add +7.9% CRWV Coreweave Inc. Class A 810,535 $62.8M Add +33.7% WIX Wix.com Ltd. 650,414 $58.6M Reduce -47.9% HUBS HubSpot Inc. 232,115 $56.7M New AFRM Affirm Holdings Inc. 1,194,711 $54.7M Reduce -13.7% SNPS Synopsys Inc. 136,925 $54.3M New RL Ralph Lauren Corp. 128,837 $44.3M Add +1.0% AXON Axon Enterprise Inc. 102,095 $43.4M Reduce -3.2% WING Wingstop Inc. 270,303 $41.9M Reduce -30.7% SMTC Semtech Corp. 541,812 $41.7M Reduce -21.7% ACVA Acv Auctions Inc. Class A 9,734,467 $41.3M Reduce -21.6% COMP Compass Inc. Class A 5,561,998 $40.7M Reduce -36.2% FERG Ferguson Enterprises Inc. 146,355 $34.1M Reduce -17.7% CHYM Chime Financial Inc. Class A 1,622,734 $30.4M Add +7.9% AVAV Aerovironment Inc. 161,675 $29.6M New INTC Intel Corp. 653,792 $28.9M Add +35.1% RBRK Rubrik Inc. Class A 566,454 $27.7M Reduce -36.7% FROG Jfrog Ltd. 554,987 $26.0M Add +37.3% MA Mastercard Inc. Class A 49,604 $24.8M Add +7.9% AMBQ Ambiq Micro Inc. 862,175 $21.9M Add +23.8% SNOW Snowflake Inc. 144,818 $21.8M Reduce -69.8% V Visa Inc. Class A 71,641 $21.7M New GFS Globalfoundries Inc. 474,593 $21.1M New ROG Rogers Corp. 186,085 $20.0M Add +8.2% NOK Nokia Corp.-Spon ADR 2,481,947 $20.0M New WRBY Warby Parker Inc. Class A 686,995 $14.5M Add +74.8% VECO Veeco Instruments Inc. 233,923 $7.9M New NBIS Nebius Group NV 63,068 $6.5M New EQPT Equipmentshare.com Inc. Class A 213,431 $4.3M New TBLA Taboola.com Ltd. 820,797 $2.5M Add +11.2% BTGO Bitgo Holdings Inc. Class A 29,106 $240K New
Options reported separately and not counted above: QQQ puts ($808.1M), RBLX calls ($56.6M), U calls ($32.9M).
Portfolio Sells Q4 2025 → Q1 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▲ P Everpure Inc. Class A Sold out 0.00% −5.94 GTLB Gitlab Inc. Class A Sold out 0.00% −2.53 NVDA Nvidia Corp. Reduce -35.1% 5.30% −2.31 MSFT Microsoft Corp. Sold out 0.00% −1.86 TTAN Servicetitan Inc. Class A Sold out 0.00% −1.79 SNOW Snowflake Inc. Reduce -69.8% 0.53% −1.70 PM Philip Morris International Sold out 0.00% −1.38 TEAM Atlassian Corp. Class A Sold out 0.00% −1.37 WIX Wix.com Ltd. Reduce -47.9% 1.43% −1.32 COHR Coherent Corp. Reduce -48.9% 3.66% −1.17 NU Nu Holdings Ltd./Cayman Isl-A Sold out 0.00% −1.16 ACVA Acv Auctions Inc. Class A Reduce -21.6% 1.01% −1.11 COMP Compass Inc. Class A Reduce -36.2% 0.99% −0.97 WING Wingstop Inc. Reduce -30.7% 1.02% −0.95 AFRM Affirm Holdings Inc. Reduce -13.7% 1.33% −0.85 AZO AutoZone Inc. Sold out 0.00% −0.84 RBRK Rubrik Inc. Class A Reduce -36.7% 0.68% −0.78 SE Sea Ltd.-ADR Sold out 0.00% −0.75 CIEN Ciena Corp. Reduce -52.6% 6.40% −0.69 AMSC American Superconductor Corp. Sold out 0.00% −0.64 GNRC Generac Holdings Inc. Sold out 0.00% −0.53 PFGC Performance Food Group Co. Sold out 0.00% −0.24 AXON Axon Enterprise Inc. Reduce -3.2% 1.06% −0.21 MELI MercadoLibre Inc. Sold out 0.00% −0.19 SMTC Semtech Corp. Reduce -21.7% 1.01% −0.07 FERG Ferguson Enterprises Inc. Reduce -17.7% 0.83% −0.01 DKS Dick's Sporting Goods Inc. Reduce -7.8% 2.19% +0.12 LITE Lumentum Holdings Inc. Reduce -30.1% 4.58% +1.58
Portfolio Buys Q4 2025 → Q1 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▼ ALAB Astera Labs Inc. Add +108.9% 8.99% +3.30 ZM Zoom Communications Inc. New 2.58% +2.58 CRDO Credo Technology Group Holdi New 2.50% +2.50 PANW Palo Alto Networks Inc. New 2.19% +2.19 VST Vistra Corp. New 1.92% +1.92 AKAM Akamai Technologies Inc. New 1.91% +1.91 MU Micron Technology Inc. Add +2.9% 6.26% +1.78 AMZN Amazon.com Inc. Add +38.6% 4.84% +1.47 HUBS HubSpot Inc. New 1.38% +1.38 SNPS Synopsys Inc. New 1.32% +1.32 RBLX Roblox Corp. Class A Add +255.2% 1.91% +1.24 ECHO Echostar Corp. Class A Add +11.0% 2.85% +0.78 W Wayfair Inc. Class A Add +64.3% 2.62% +0.77 AVAV Aerovironment Inc. New 0.72% +0.72 TWLO Twilio Inc. Class A Add +28.6% 2.83% +0.66 RKT Rocket Cos Inc. Class A Add +69.7% 2.12% +0.64 CRWV Coreweave Inc. Class A Add +33.7% 1.53% +0.61 V Visa Inc. Class A New 0.53% +0.53 GFS Globalfoundries Inc. New 0.51% +0.51 NOK Nokia Corp.-Spon ADR New 0.49% +0.49 GOOGL Alphabet Inc. Class A Add +7.9% 3.89% +0.47 U Unity Software Inc. Add +86.9% 6.62% +0.41 INTC Intel Corp. Add +35.1% 0.70% +0.32 VECO Veeco Instruments Inc. New 0.19% +0.19 WRBY Warby Parker Inc. Class A Add +74.8% 0.35% +0.17 NBIS Nebius Group NV New 0.16% +0.16 ROG Rogers Corp. Add +8.2% 0.49% +0.15 RL Ralph Lauren Corp. Add +1.0% 1.08% +0.12 AMBQ Ambiq Micro Inc. Add +23.8% 0.53% +0.11 EQPT Equipmentshare.com Inc. Class A New 0.11% +0.11 FROG Jfrog Ltd. Add +37.3% 0.63% +0.10 MA Mastercard Inc. Class A Add +7.9% 0.60% +0.05 TSLA Tesla Inc. Add +7.9% 1.82% +0.04 BTGO Bitgo Holdings Inc. Class A New 0.01% +0.01 TBLA Taboola.com Ltd. Add +11.2% 0.06% −0.01 CHYM Chime Financial Inc. Class A Add +7.9% 0.74% −0.06
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ QQQ Invesco QQQ Trust Series 1 put Reduce -60.0% 1,400,000 $808.1M NVDA Nvidia Corp. call Sold out 3,500,000 $652.8Mbefore exit MU Micron Technology Inc. put Sold out 700,000 $199.8Mbefore exit COHR Coherent Corp. call Sold out 900,000 $166.1Mbefore exit P Everpure Inc. Class A call Sold out 1,500,000 $100.5Mbefore exit RBLX Roblox Corp. Class A call New 1,000,000 $56.6M GTLB Gitlab Inc. Class A call Sold out 1,000,000 $37.5Mbefore exit U Unity Software Inc. call Reduce -59.5% 1,500,000 $32.9M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 46 $11.1B SPCX, MU, CBRS, ALAB, CIEN Q1 2026 51 $4.1B ALAB, U, CIEN, MU, NVDA Q4 2025 49 $4.7B NVDA, CIEN, U, P, ALAB Q3 2025 56 $3.8B P, GTLB, U, CIEN, AMZN Q2 2025 48 $3.6B AMD, P, GTLB, DKS, GOOGL Q1 2025 41 $2.8B ALAB, AMD, U, MSFT, META Q4 2024 44 $3.2B ALAB, AMD, ASML, AMZN, LITE Q3 2024 35 $3.0B ALAB, AMD, AMZN, TSLA, ADBE Q2 2024 40 $3.1B MRVL, CIEN, AMD, ALAB, AMZN Q1 2024 34 $3.3B MRVL, SE, ACVA, ALAB, AMD