Candlestick Capital Management LP In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Candlestick Capital Management LP reported 50 stock positions worth $2.4 billion . Its top holding was United Airlines (UAL) at 7.1% of the portfolio, followed by Meta Platforms Class A (META, 5.9% ) and Delta Air Lines (DAL, 4.8% ). Compared with Q2 2024, it opened 17 new positions, sold out of 26, added to 14 and reduced 19. The biggest buy was a new position in Meta Platforms Class A (META) and the biggest sale an exit from Apple (AAPL).
Location GREENWICH, CT
CIK 0001789779
Portfolio Value $2.4B (Q3 2024) Holdings 50 stocks · $2.4B 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 Q2 2024 UAL United Airlines Holdings Inc. 3,036,239 $173.2M Add +7.5% META Meta Platforms Inc. Class A 253,556 $145.1M New DAL Delta Air Lines Inc. 2,291,275 $116.4M Add +2.6% PFGC Performance Food Group Co. 1,211,988 $95.0M Add +25.2% CNK Cinemark Holdings Inc. 3,330,081 $92.7M Reduce -19.4% BURL Burlington Stores Inc. 337,115 $88.8M Reduce -15.4% NFLX Netflix Inc. 121,109 $85.9M New TTWO Take-Two Interactive Softwre 536,665 $82.5M Add +59.5% K Kellanova 997,386 $80.5M Reduce -28.8% SHW The Sherwin-Williams Co. 188,792 $72.1M Reduce -41.3% THO Thor Industries Inc. 650,008 $71.4M Add +40.2% ANF Abercrombie & Fitch Co. Class A 492,974 $69.0M Add +147.5% ORCL Oracle Corp. 383,456 $65.3M Add +31.8% TRI Thomson Reuters Corp. 373,788 $63.8M Add +176.9% AS Amer Sports Inc. 3,801,432 $60.6M Reduce -6.6% NKE Nike Inc. Class B 659,233 $58.3M New HLT Hilton Worldwide Holdings Inc. 248,204 $57.2M Add +23.6% GPC Genuine Parts Co. 397,639 $55.5M Reduce -19.3% SJM The JM Smucker Co. filed as SMUCKER J M CO 419,121 $50.8M New SBUX Starbucks Corp. 502,004 $48.9M New RH RH 142,161 $47.5M Add +1797.0% SGI Somnigroup International Inc. filed as TEMPUR SEALY INTL INC 848,324 $46.3M Reduce -10.7% DPZ Domino's Pizza Inc. 98,701 $42.5M Reduce -13.8% VFC VF Corp. 2,099,468 $41.9M New TRU Transunion 397,098 $41.6M Reduce -49.6% MSFT Microsoft Corp. 92,591 $39.8M Reduce -26.4% SPOT Spotify Technology SA 105,089 $38.7M Reduce -36.9% MMM 3M Co. 271,257 $37.1M Reduce -45.8% ACVA Acv Auctions Inc. Class A 1,823,541 $37.1M Reduce -29.2% AN Autonation Inc. 199,727 $35.7M Add +565.8% BFAM Bright Horizons Family Solut 246,014 $34.5M Add +15.9% KNX Knight-Swift Transportation 632,921 $34.1M New SOLV Solventum Corp. 478,686 $33.4M New SPB Spectrum Brands Holdings Inc. 345,718 $32.9M New PM Philip Morris International 239,340 $29.1M New MSCI MSCI Inc. 45,740 $26.7M New KMB Kimberly-Clark Corp. 186,162 $26.5M Reduce -58.6% CART Maplebear Inc. 627,779 $25.6M New VIK Viking Holdings Ltd. 639,954 $22.3M Reduce -60.1% RCL Royal Caribbean Cruises Ltd. 124,129 $22.0M Reduce -58.6% MHK Mohawk Industries Inc. 106,376 $17.1M Add +77.3% LW Lamb Weston Holdings Inc. 239,351 $15.5M Reduce -4.3% WOOF Petco Health and Wellness Co. 3,268,482 $14.9M Add +75.3% RDDT Reddit Inc. Class A 205,632 $13.6M New BROS Dutch Bros Inc. Class A 387,386 $12.4M Reduce -74.8% BKNG Booking Holdings Inc. 2,603 $11.0M New APTV Aptiv Irish Holdings Ltd. filed as APTIV PLC 124,457 $9.0M New JBHT Hunt (jb) Transprt SVCS Inc. 50,000 $8.6M New PCTY Paylocity Holding Corp. 47,869 $7.9M New CCEP Coca-Cola Europacific Partne 44,196 $3.5M Reduce -88.2%
Options reported separately and not counted above: SPY puts ($229.5M), QQQ puts ($195.2M), IWM puts ($154.6M), DAL calls ($101.6M), UAL calls ($99.9M), ITB puts ($95.3M), AYI puts ($55.1M), LW calls ($29.4M), CCL puts ($27.7M), RCL calls ($26.6M), NKE calls ($26.5M), AAL puts ($22.5M), and 4 more.
Portfolio Sells Q2 2024 → Q3 2024 Portfolio Sells quarter Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▲ AAPL Apple Inc. Sold out 0.00% −3.42 AMZN Amazon.com Inc. Sold out 0.00% −3.25 HD Home Depot Inc. Sold out 0.00% −3.02 CLX Clorox Company Sold out 0.00% −2.62 BBWI Bath & Body Works Inc. Sold out 0.00% −2.46 VRSK Verisk Analytics Inc. Sold out 0.00% −2.28 BROS Dutch Bros Inc. Class A Reduce -74.8% 0.51% −1.94 DOCU Docusign Inc. Sold out 0.00% −1.70 DG Dollar General Corp. Sold out 0.00% −1.59 ABNB Airbnb Inc. Class A Sold out 0.00% −1.57 CSX CSX Corp. Sold out 0.00% −1.48 MA Mastercard Inc. Class A Sold out 0.00% −1.36 KMB Kimberly-Clark Corp. Reduce -58.6% 1.08% −1.31 FRPT Freshpet Inc. Sold out 0.00% −1.24 VIK Viking Holdings Ltd. Reduce -60.1% 0.91% −1.18 FDX FedEx Corp. Sold out 0.00% −1.10 GNRC Generac Holdings Inc. Sold out 0.00% −1.08 RCL Royal Caribbean Cruises Ltd. Reduce -58.6% 0.90% −0.94 M Macy's Inc. Sold out 0.00% −0.92 CCEP Coca-Cola Europacific Partne Reduce -88.2% 0.14% −0.91 XLE SS Energy Select Sector Sold out 0.00% −0.88 SHW The Sherwin-Williams Co. Reduce -41.3% 2.95% −0.74 XOP SS SPDR S&P Og Exp & Prod Sold out 0.00% −0.70 MCD McDonald's Corp. Sold out 0.00% −0.68 SAIA Saia Inc. Sold out 0.00% −0.64 IBIT iShares Bitcoin Trust ETF Sold out 0.00% −0.59 TRU Transunion Reduce -49.6% 1.70% −0.54 DPZ Domino's Pizza Inc. Reduce -13.8% 1.74% −0.53 MSFT Microsoft Corp. Reduce -26.4% 1.63% −0.53 MMM 3M Co. Reduce -45.8% 1.52% −0.45 SPOT Spotify Technology SA Reduce -36.9% 1.59% −0.42 CCL Carnival Corp. Sold out 0.00% −0.36 GPC Genuine Parts Co. Reduce -19.3% 2.27% −0.35 ACVA Acv Auctions Inc. Class A Reduce -29.2% 1.52% −0.29 PLAY Dave & Buster's Entertainmen Sold out 0.00% −0.26 BRBR Bellring Brands Inc. Sold out 0.00% −0.22 LII Lennox International Inc. Sold out 0.00% −0.21 ADP Automatic Data Processing Sold out 0.00% −0.18 GM General Motors Co. Sold out 0.00% −0.18 LW Lamb Weston Holdings Inc. Reduce -4.3% 0.63% −0.17 BURL Burlington Stores Inc. Reduce -15.4% 3.64% −0.04 SGI Somnigroup International Inc. Reduce -10.7% 1.90% +0.17 K Kellanova Reduce -28.8% 3.30% +0.19 CNK Cinemark Holdings Inc. Reduce -19.4% 3.80% +0.36 AS Amer Sports Inc. Reduce -6.6% 2.48% +0.52
Portfolio Buys Q2 2024 → Q3 2024 Portfolio Buys quarter Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▼ META Meta Platforms Inc. Class A New 5.94% +5.94 NFLX Netflix Inc. New 3.52% +3.52 NKE Nike Inc. Class B New 2.39% +2.39 SJM The JM Smucker Co. New 2.08% +2.08 SBUX Starbucks Corp. New 2.00% +2.00 RH RH Add +1797.0% 1.95% +1.88 UAL United Airlines Holdings Inc. Add +7.5% 7.10% +1.81 TRI Thomson Reuters Corp. Add +176.9% 2.61% +1.74 VFC VF Corp. New 1.72% +1.72 ANF Abercrombie & Fitch Co. Class A Add +147.5% 2.82% +1.46 PFGC Performance Food Group Co. Add +25.2% 3.89% +1.43 KNX Knight-Swift Transportation New 1.40% +1.40 SOLV Solventum Corp. New 1.37% +1.37 TTWO Take-Two Interactive Softwre Add +59.5% 3.38% +1.37 SPB Spectrum Brands Holdings Inc. New 1.35% +1.35 AN Autonation Inc. Add +565.8% 1.46% +1.28 THO Thor Industries Inc. Add +40.2% 2.93% +1.26 PM Philip Morris International New 1.19% +1.19 ORCL Oracle Corp. Add +31.8% 2.68% +1.10 MSCI MSCI Inc. New 1.09% +1.09 CART Maplebear Inc. New 1.05% +1.05 DAL Delta Air Lines Inc. Add +2.6% 4.77% +0.69 HLT Hilton Worldwide Holdings Inc. Add +23.6% 2.34% +0.66 RDDT Reddit Inc. Class A New 0.56% +0.56 BFAM Bright Horizons Family Solut Add +15.9% 1.41% +0.51 BKNG Booking Holdings Inc. New 0.45% +0.45 MHK Mohawk Industries Inc. Add +77.3% 0.70% +0.44 APTV Aptiv Irish Holdings Ltd. New 0.37% +0.37 JBHT Hunt (jb) Transprt SVCS Inc. New 0.35% +0.35 WOOF Petco Health and Wellness Co. Add +75.3% 0.61% +0.34 PCTY Paylocity Holding Corp. New 0.32% +0.32
Options Activity Q2 2024 → Q3 2024 Security Type Change vs Q2 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put New 400,000 $229.5M IWM iShares Russell 2000 ETF put New 700,000 $154.6M DAL Delta Air Lines Inc. call Add +166.7% 2,000,000 $101.6M UAL United Airlines Holdings Inc. call Add +34.6% 1,750,000 $99.9M ITB iShares U.S. Home Constructi put New 750,000 $95.3M SMH Vaneck Semiconductor ETF put Sold out 300,000 $78.2Mbefore exit XLI SS Industrial Select Sector put Sold out 600,000 $73.1Mbefore exit XLE SS Energy Select Sector call Sold out 750,000 $68.4Mbefore exit ORLY O'reilly Automotive Inc. put Sold out 60,000 $63.4Mbefore exit XHB SS SPDR S&P Homebldrs ETF put Sold out 600,000 $60.6Mbefore exit HSY The Hershey Co. put Sold out 300,000 $55.1Mbefore exit AYI Acuity Inc. put New 200,000 $55.1M CCL Carnival Corp. call Sold out 2,500,000 $46.8Mbefore exit TGT Target Corp. put Sold out 300,000 $44.4Mbefore exit AMZN Amazon.com Inc. call Sold out 200,000 $38.6Mbefore exit LW Lamb Weston Holdings Inc. call Add +127.0% 453,900 $29.4M BRBR Bellring Brands Inc. call Sold out 500,000 $28.6Mbefore exit CCL Carnival Corp. put New 1,500,000 $27.7M NKE Nike Inc. Class B call New 300,000 $26.5M EFX Equifax Inc. put Sold out 100,000 $24.2Mbefore exit GM General Motors Co. call Sold out 500,000 $23.2Mbefore exit K Kellanova call Sold out 400,000 $23.1Mbefore exit AAL American Airlines Group Inc. put New 2,000,000 $22.5M KMB Kimberly-Clark Corp. call New 150,000 $21.3M ANF Abercrombie & Fitch Co. Class A call New 150,000 $21.0M GPC Genuine Parts Co. call Sold out 150,000 $20.7Mbefore exit THO Thor Industries Inc. call Sold out 200,000 $18.7Mbefore exit VFC VF Corp. call New 750,000 $15.0M SGI Somnigroup International Inc. call Sold out 300,000 $14.2Mbefore exit WSM Williams-Sonoma Inc. put Sold out 100,000 $14.1Mbefore exit MNST Monster Beverage Corp. put New 250,000 $13.0M ENPH Enphase Energy Inc. put Sold out 100,000 $10.0Mbefore exit
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