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ATREIDES MANAGEMENT, LP

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BOSTON MA Investment Advisor Hedge Fund
13F Summary

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Atreides Management is based out of Boston. Atreides Management is a hedge fund with 36 clients and discretionary assets under management (AUM) of $4,691,533,144 (Form ADV from 2024-03-28). Their last reported 13F filing for Q4 2024 included $4,566,902,958 in managed 13F securities and a top 10 holdings concentration of 63.44%. Atreides Management's largest holding is Invesco QQQ Trust, Series 1 with shares held of 2,700,000. Whalewisdom has at least 22 13F filings, and 9 13G filings
Business Description
Atreides Management, LP, a Delaware partnership with its principal place of business in Boston, Massachusetts, is controlled by its general partner, Atreides Management, LLC, a Delaware limited liability company. The firm's managing member is Gavin Baker, who serves as the Portfolio Manager. Atreides' advisory business focuses on managing portfolio companies, but there is no guarantee that these companies will be able to operate successfully in accordance with the Funds' objectives. The firm acknowledges the competitive nature of the market for executive talent and the potential challenges in attracting, developing, and retaining suitable management teams. These factors could negatively impact the Funds and their investments.
Investment Strategy
Atreides Management, LP focuses on investing in a concentrated portfolio of high-quality businesses with sustainable competitive advantages. They prioritize companies with shareholder-friendly management teams operating in industries that are taking share of global gross domestic product. Additionally, they may opportunistically short companies with impaired long-term prospects due to disruptive trends or declining competitive advantages, especially when valuations don't reflect these realities. The Funds primarily invest in companies within the technology and consumer sectors. They typically hold a limited number of securities on the long side, ranging from 10 to 40. This concentration strategy could lead to significant losses if the sectors or sub-sectors they invest in experience adverse news. While the Funds have self-imposed diversification guidelines, the Investment Manager has full discretion to allocate capital among strategies and may concentrate capital in specific strategies from time to time. This concentration can increase volatility and potentially lead to greater losses compared to a more diversified portfolio.
Owners
  • STAR, JAMES, ALBERT - LIMITED PARTNER
  • FINN, DAVID, SEAN - CFO
  • BAKER, GAVIN, SETH - MANAGING PARTNER /CHIEF INVESTMENT OFFICER/ LIMITED PARTNER
  • MALONE, LAURA, ANNE - GENERAL COUNSEL & CHIEF COMPLIANCE OFFICER
  • ATREIDES MANAGEMENT, LLC - GENERAL PARTNER
  • Click on the Ownership/Private Fund Data tab for more details.
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2024-12-31

Top Buys (13F)

Name % Change
QQQ Invesco QQQ Trust, S (PUT) 17.8%
ASML ASML Holding NV 4.46%
MSFT Microsoft Corporatio 2.95%
SNOW Snowflake, Inc 2.56%
AVGO Broadcom Inc 2.3%

2024-12-31

Top Sells (13F)

Name % Change
ALAB Astera Labs Inc 4.24%
SPY SPDR S&P 500 ETF TRU (PUT) 3.65%
AMD Advanced Micro Devic 3.54%
CIEN Ciena Corp 3.34%
SE Sea Ltd 2.58%

2024-12-31

13F Holdings Summary

Name $ Change
QQQ Invesco QQQ Trust, S(PUT) 30.22%
ALAB Astera Labs Inc 5.33%
AMD Advanced Micro Devic 5.08%
ASML ASML Holding NV 4.46%
AMZN Amazon.com Inc 3.27%

2024-12-31

13F Activity

Market Value $4.57b, Prior: $3.93b
Inflows (Outflows) as % of Total MV (-7.5035)%
New Purchases 17 stocks
Added To 6 stocks
Sold out of 15 stocks
Reduced holdings in 20 stocks
Top 10 Holdings % 63.44%
Turnover %[1] 53.33%
Turnover Alt %[2] 39.35%
Time Held Top 20 2.05 quarters
Time Held Top 10 2 quarters
Time Held All 4.62 quarters

[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.

[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.

2024-12-31

13F Sector Allocation Over Time

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2024-12-31

Analysis

Top 20 equal-weighted holdings. Performance numbers calculated through 2024-12-31

Portfolio Performance