Candlestick Capital Management LP In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Candlestick Capital Management LP reported 59 stock positions worth $2.6 billion . Its top holding was United Airlines (UAL) at 5.3% of the portfolio, followed by Delta Air Lines (DAL, 4.1% ) and Sherwin-Williams (SHW, 3.7% ). Compared with Q1 2024, it opened 21 new positions, sold out of 31, added to 15 and reduced 22. The biggest buy was a new position in Apple (AAPL) and the biggest sale an exit from Salesforce (CRM).
Location GREENWICH, CT
CIK 0001789779
Portfolio Value $2.6B (Q2 2024) Holdings 59 stocks · $2.6B Holdings quarter 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 Q1 2024 UAL United Airlines Holdings Inc. 2,825,329 $137.5M Add +64.9% DAL Delta Air Lines Inc. 2,232,632 $105.9M Add +61.9% SHW The Sherwin-Williams Co. 321,661 $96.0M Add +51.9% BURL Burlington Stores Inc. 398,501 $95.6M Reduce -5.1% CNK Cinemark Holdings Inc. 4,133,546 $89.4M Add +68.2% AAPL Apple Inc. 421,639 $88.8M New AMZN Amazon.com Inc. 437,810 $84.6M Reduce -39.9% K Kellanova 1,400,000 $80.8M Add +16.7% HD Home Depot Inc. 228,140 $78.5M New CLX Clorox Company 500,000 $68.2M Add +53.9% GPC Genuine Parts Co. 492,921 $68.2M Add +32.4% PFGC Performance Food Group Co. 968,012 $64.0M Add +41.4% BBWI Bath & Body Works Inc. 1,637,056 $63.9M Add +75.6% BROS Dutch Bros Inc. Class A 1,535,485 $63.6M New KMB Kimberly-Clark Corp. 450,000 $62.2M New VRSK Verisk Analytics Inc. 220,000 $59.3M New DPZ Domino's Pizza Inc. 114,471 $59.1M Reduce -16.3% TRU Transunion 788,000 $58.4M Reduce -11.3% MSFT Microsoft Corp. 125,766 $56.2M Reduce -19.4% VIK Viking Holdings Ltd. 1,604,454 $54.5M New TTWO Take-Two Interactive Softwre 336,420 $52.3M New SPOT Spotify Technology SA 166,401 $52.2M Add +56.0% AS Amer Sports Inc. 4,070,613 $51.2M Add +12.3% MMM 3M Co. 500,000 $51.1M Reduce -16.7% RCL Royal Caribbean Cruises Ltd. 300,114 $47.8M Reduce -44.4% ACVA Acv Auctions Inc. Class A 2,575,000 $47.0M Reduce -27.5% SGI Somnigroup International Inc. filed as TEMPUR SEALY INTL INC 950,350 $45.0M Reduce -32.1% DOCU Docusign Inc. 826,893 $44.2M New HLT Hilton Worldwide Holdings Inc. 200,863 $43.8M Add +168.6% THO Thor Industries Inc. 463,500 $43.3M Reduce -33.1% DG Dollar General Corp. 312,158 $41.3M New ORCL Oracle Corp. 291,019 $41.1M New ABNB Airbnb Inc. Class A 269,359 $40.8M Reduce -33.9% CSX CSX Corp. 1,150,000 $38.5M New ANF Abercrombie & Fitch Co. Class A 199,211 $35.4M New MA Mastercard Inc. Class A 80,000 $35.3M New FRPT Freshpet Inc. 250,000 $32.3M No change FDX FedEx Corp. 95,000 $28.5M Add +427.8% GNRC Generac Holdings Inc. 212,323 $28.1M New CCEP Coca-Cola Europacific Partne 375,000 $27.3M Reduce -46.4% M Macy's Inc. 1,250,000 $24.0M Reduce -16.7% BFAM Bright Horizons Family Solut 212,188 $23.4M Reduce -40.1% XLE SS Energy Select Sector 250,000 $22.8M Add +150.0% TRI Thomson Reuters Corp. 135,000 $22.8M New LW Lamb Weston Holdings Inc. 250,000 $21.0M Reduce -28.6% XOP SS SPDR S&P Og Exp & Prod 125,000 $18.2M Reduce -58.3% MCD McDonald's Corp. 69,657 $17.8M New SAIA Saia Inc. 35,000 $16.6M New IBIT iShares Bitcoin Trust ETF 450,000 $15.4M Add +80.0% CCL Carnival Corp. 500,000 $9.4M Reduce -85.4% WOOF Petco Health and Wellness Co. 1,864,652 $7.0M New MHK Mohawk Industries Inc. 60,000 $6.8M New PLAY Dave & Buster's Entertainmen 167,002 $6.6M Reduce -68.8% BRBR Bellring Brands Inc. 100,000 $5.7M Reduce -75.0% LII Lennox International Inc. 10,000 $5.3M New AN Autonation Inc. 30,000 $4.8M New ADP Automatic Data Processing 20,000 $4.8M Reduce -20.0% GM General Motors Co. 100,000 $4.6M Reduce -82.0% RH RH 7,494 $1.8M Reduce -77.7%
Options reported separately and not counted above: QQQ puts ($191.6M), SMH puts ($78.2M), XLI puts ($73.1M), XLE calls ($68.4M), ORLY puts ($63.4M), UAL calls ($63.3M), XHB puts ($60.6M), HSY puts ($55.1M), CCL calls ($46.8M), TGT puts ($44.4M), AMZN calls ($38.6M), DAL calls ($35.6M), and 11 more.
Portfolio Sells Q1 2024 → Q2 2024 Portfolio Sells quarter Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2024 % Of Portfolio Change To Portfolio ▲ CRM Salesforce Inc. Sold out 0.00% −3.14 PYPL PayPal Holdings Inc. Sold out 0.00% −2.93 MNST Monster Beverage Corp. Sold out 0.00% −2.74 CAG Conagra Brands Inc. Sold out 0.00% −2.69 LEN Lennar Corp. Class A Sold out 0.00% −2.45 NFLX Netflix Inc. Sold out 0.00% −2.16 RL Ralph Lauren Corp. Sold out 0.00% −2.10 PRKS United Parks & Resorts Inc. Sold out 0.00% −2.02 DLTR Dollar Tree Inc. Sold out 0.00% −1.99 URBN Urban Outfitters Inc. Sold out 0.00% −1.49 CCL Carnival Corp. Reduce -85.4% 0.36% −1.48 SBUX Starbucks Corp. Sold out 0.00% −1.31 EL Estee Lauder Companies Class A Sold out 0.00% −1.27 MDLZ Mondelez International Inc. Class A Sold out 0.00% −1.15 TPR Tapestry Inc. Sold out 0.00% −1.13 AMZN Amazon.com Inc. Reduce -39.9% 3.25% −1.07 YUM Yum! Brands Inc. Sold out 0.00% −1.06 AAP Advance Auto Parts Inc. Sold out 0.00% −1.02 ZBRA Zebra Technologies Corp. Class A Sold out 0.00% −1.02 THO Thor Industries Inc. Reduce -33.1% 1.67% −1.01 SGI Somnigroup International Inc. Reduce -32.1% 1.73% −0.89 PLAY Dave & Buster's Entertainmen Reduce -68.8% 0.26% −0.85 XOP SS SPDR S&P Og Exp & Prod Reduce -58.3% 0.70% −0.83 DKNG Draftkings Inc. Class A Sold out 0.00% −0.75 SOLV Solventum Corp. Sold out 0.00% −0.73 GM General Motors Co. Reduce -82.0% 0.18% −0.65 ABNB Airbnb Inc. Class A Reduce -33.9% 1.57% −0.64 RCL Royal Caribbean Cruises Ltd. Reduce -44.4% 1.84% −0.63 CCEP Coca-Cola Europacific Partne Reduce -46.4% 1.05% −0.56 BRBR Bellring Brands Inc. Reduce -75.0% 0.22% −0.56 CWH Camping World Holdings Inc. Class A Sold out 0.00% −0.49 ROST Ross Stores Inc. Sold out 0.00% −0.45 DHI D.R. Horton Inc. Sold out 0.00% −0.43 BFAM Bright Horizons Family Solut Reduce -40.1% 0.90% −0.42 LW Lamb Weston Holdings Inc. Reduce -28.6% 0.81% −0.42 IT Gartner Inc. Sold out 0.00% −0.39 ACVA Acv Auctions Inc. Class A Reduce -27.5% 1.81% −0.39 MUSA Murphy USA Inc. Sold out 0.00% −0.35 FND Floor & Decor Holdings Inc. Class A Sold out 0.00% −0.33 RH RH Reduce -77.7% 0.07% −0.32 SHOO Steven Madden Ltd. Sold out 0.00% −0.24 CART Maplebear Inc. Sold out 0.00% −0.22 BKNG Booking Holdings Inc. Sold out 0.00% −0.17 CNM Core & Main Inc. Class A Sold out 0.00% −0.16 FSLR First Solar Inc. Sold out 0.00% −0.14 MMM 3M Co. Reduce -16.7% 1.97% −0.13 ENPH Enphase Energy Inc. Sold out 0.00% −0.10 TRU Transunion Reduce -11.3% 2.25% −0.09 M Macy's Inc. Reduce -16.7% 0.92% −0.07 ADP Automatic Data Processing Reduce -20.0% 0.18% −0.02
Portfolio Buys Q1 2024 → Q2 2024 Portfolio Buys quarter Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2024 % Of Portfolio Change To Portfolio ▼ AAPL Apple Inc. New 3.42% +3.42 HD Home Depot Inc. New 3.02% +3.02 UAL United Airlines Holdings Inc. Add +64.9% 5.29% +2.58 BROS Dutch Bros Inc. Class A New 2.44% +2.44 KMB Kimberly-Clark Corp. New 2.39% +2.39 VRSK Verisk Analytics Inc. New 2.28% +2.28 VIK Viking Holdings Ltd. New 2.09% +2.09 TTWO Take-Two Interactive Softwre New 2.01% +2.01 CNK Cinemark Holdings Inc. Add +68.2% 3.44% +1.98 DAL Delta Air Lines Inc. Add +61.9% 4.07% +1.90 DOCU Docusign Inc. New 1.70% +1.70 DG Dollar General Corp. New 1.59% +1.59 ORCL Oracle Corp. New 1.58% +1.58 CSX CSX Corp. New 1.48% +1.48 ANF Abercrombie & Fitch Co. Class A New 1.36% +1.36 MA Mastercard Inc. Class A New 1.36% +1.36 SHW The Sherwin-Williams Co. Add +51.9% 3.69% +1.27 HLT Hilton Worldwide Holdings Inc. Add +168.6% 1.69% +1.16 SPOT Spotify Technology SA Add +56.0% 2.01% +1.08 GNRC Generac Holdings Inc. New 1.08% +1.08 CLX Clorox Company Add +53.9% 2.62% +0.98 FDX FedEx Corp. Add +427.8% 1.10% +0.92 BBWI Bath & Body Works Inc. Add +75.6% 2.46% +0.92 TRI Thomson Reuters Corp. New 0.88% +0.88 K Kellanova Add +16.7% 3.11% +0.84 PFGC Performance Food Group Co. Add +41.4% 2.46% +0.78 GPC Genuine Parts Co. Add +32.4% 2.62% +0.72 MCD McDonald's Corp. New 0.68% +0.68 SAIA Saia Inc. New 0.64% +0.64 XLE SS Energy Select Sector Add +150.0% 0.88% +0.57 WOOF Petco Health and Wellness Co. New 0.27% +0.27 MHK Mohawk Industries Inc. New 0.26% +0.26 IBIT iShares Bitcoin Trust ETF Add +80.0% 0.59% +0.26 LII Lennox International Inc. New 0.21% +0.21 AN Autonation Inc. New 0.18% +0.18 AS Amer Sports Inc. Add +12.3% 1.97% +0.02
Options Activity Q1 2024 → Q2 2024 Security Type Change vs Q1 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Sold out 500,000 $261.5Mbefore exit QQQ Invesco QQQ Trust Series 1 put Reduce -20.0% 400,000 $191.6M IWM iShares Russell 2000 ETF call Sold out 500,000 $105.2Mbefore exit HD Home Depot Inc. put Sold out 250,000 $95.9Mbefore exit IWM iShares Russell 2000 ETF put Sold out 400,000 $84.1Mbefore exit USO United States Oil Fund LP call Sold out 1,000,000 $78.7Mbefore exit SMH Vaneck Semiconductor ETF put New 300,000 $78.2M LOW Lowe's Cos Inc. put Sold out 300,000 $76.4Mbefore exit XLI SS Industrial Select Sector put New 600,000 $73.1M AAPL Apple Inc. put Sold out 400,000 $68.6Mbefore exit XLE SS Energy Select Sector call Reduce -25.0% 750,000 $68.4M KWEB Kranesh Csi China Internet call Sold out 2,500,000 $65.6Mbefore exit ORLY O'reilly Automotive Inc. put New 60,000 $63.4M UAL United Airlines Holdings Inc. call Reduce -38.1% 1,300,000 $63.3M XHB SS SPDR S&P Homebldrs ETF put New 600,000 $60.6M HSY The Hershey Co. put New 300,000 $55.1M ULTA Ulta Beauty Inc. put Sold out 100,000 $52.3Mbefore exit CCL Carnival Corp. call New 2,500,000 $46.8M SBUX Starbucks Corp. call Sold out 500,000 $45.7Mbefore exit GOOGL Alphabet Inc. Class A put Sold out 300,000 $45.3Mbefore exit TGT Target Corp. put New 300,000 $44.4M COST Costco Wholesale Corp. put Sold out 60,000 $44.0Mbefore exit XRT SS SPDR S&P Retail ETF put Sold out 500,000 $39.5Mbefore exit AMZN Amazon.com Inc. call New 200,000 $38.6M DAL Delta Air Lines Inc. call Reduce -50.0% 750,000 $35.6M CTAS Cintas Corp. put Sold out 50,000 $34.4Mbefore exit EHC Encompass Health Corp. put Sold out 400,000 $33.0Mbefore exit LULU Lululemon Athletica Inc. put Sold out 75,000 $29.3Mbefore exit FDX FedEx Corp. call Sold out 100,000 $29.0Mbefore exit BRBR Bellring Brands Inc. call New 500,000 $28.6M COIN Coinbase Global Inc. Class A put Sold out 100,000 $26.5Mbefore exit EFX Equifax Inc. put New 100,000 $24.2M K Kellanova call New 400,000 $23.1M GPC Genuine Parts Co. call New 150,000 $20.7M THO Thor Industries Inc. call New 200,000 $18.7M LW Lamb Weston Holdings Inc. call New 200,000 $16.8M SGI Somnigroup International Inc. call New 300,000 $14.2M WSM Williams-Sonoma Inc. put New 50,000 $14.1M AEO American Eagle Outfitters put Sold out 500,000 $12.9Mbefore exit KSS Kohls Corp. put Sold out 400,000 $11.7Mbefore exit M Macy's Inc. call Sold out 500,000 $10.0Mbefore exit ENPH Enphase Energy Inc. put Reduce -33.3% 100,000 $10.0M
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 Q4 2025 0 $0 Q3 2025 39 $2.6B UAL, TPR, DAL, AS, CNK Q2 2025 51 $3.0B AMZN, CNK, MSFT, UAL, AS Q1 2025 46 $2.5B NFLX, CNK, UAL, META, CSGP Q4 2024 52 $2.8B UAL, DAL, CNK, AMZN, AS Q3 2024 50 $2.4B UAL, META, DAL, PFGC, CNK Q2 2024 59 $2.6B UAL, DAL, SHW, BURL, CNK Q1 2024 69 $3.0B AMZN, BURL, CRM, PYPL, MNST