Atreides Management, LP
Long book
$4.10B
Q1 2026
Positions
51
Top-10 weight
53%
concentration
Last quarter
+61.3%
SPY +14.8%
Turnover
44%
of book per quarter
Strategy in plain words
auto-generated from filingsAtreides Management, LP is a concentrated fundamental stock-picker, specialised in technology (65% of the long book), running a $4.10B US long book across 51 positions.
The portfolio is concentrated: the top 10 names carry 53% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: ASTERA LABS INC, UNITY SOFTWARE INC, CIENA CORP, MICRON TECHNOLOGY INC, NVIDIA CORP.
Over the last 9 quarters its long book ran on average 10.6pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-0.8%
Q2 2024
+5.2%
Q3 2024
+28.8%
Q4 2024
-19.4%
Q1 2025
+38.3%
Q2 2025
+22.4%
Q3 2025
+6.8%
Q4 2025
-7.0%
Q1 2026
+61.3%
Sector allocation
Technology 65%
Consumer discretionary 12%
Other 5%
Financials 4%
Services media 4%
Industrials 4%
Communications 3%
Utilities 2%
Long book by quarter
What does Atreides Management, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| ALAB ASTERA LABS INC | Technology | 3.4M | $368.9M | 9.0% | +108.9% |
| U UNITY SOFTWARE INC | Technology | 12.4M | $271.7M | 6.6% | +86.9% |
| CIEN CIENA CORP | Technology | 676.8K | $262.8M | 6.4% | -52.6% |
| MU MICRON TECHNOLOGY INC | Technology | 760.4K | $256.9M | 6.3% | +2.9% |
| NVDA NVIDIA CORP | Technology | 1.2M | $217.8M | 5.3% | -35.1% |
| AMZN AMAZON.COM INC | Consumer discretionary | 953.6K | $198.6M | 4.8% | +38.6% |
| LITE LUMENTUM HOLDINGS INC | Technology | 267.4K | $187.9M | 4.6% | -30.2% |
| GOOGL ALPHABET INC-CL A | Technology | 555.0K | $159.6M | 3.9% | +7.9% |
| COHR COHERENT CORP | Other | 631.2K | $150.3M | 3.7% | -48.9% |
| ECHO ECHOSTAR CORP-A | Communications | 1.0M | $117.1M | 2.9% | +11.0% |
| TWLO TWILIO INC - A | Technology | 921.6K | $116.0M | 2.8% | +28.5% |
| W WAYFAIR INC- CLASS A | Consumer discretionary | 1.4M | $107.6M | 2.6% | +64.3% |
| ZM ZOOM COMMUNICATIONS INC | Technology | 1.3M | $105.8M | 2.6% | New |
| CRDO CREDO TECHNOLOGY GROUP HOLDI | Technology | 1.1M | $102.4M | 2.5% | New |
| PANW PALO ALTO NETWORKS INC | Technology | 561.8K | $90.1M | 2.2% | New |
| DKS DICK'S SPORTING GOODS INC | Consumer discretionary | 452.5K | $89.7M | 2.2% | -7.8% |
| RKT ROCKET COS INC-CLASS A | Financials | 6.1M | $87.1M | 2.1% | +69.7% |
| VST VISTRA CORP | Utilities | 523.8K | $78.7M | 1.9% | New |
| AKAM AKAMAI TECHNOLOGIES INC | Services media | 682.8K | $78.4M | 1.9% | New |
| RBLX ROBLOX CORP -CLASS A | Technology | 1.4M | $78.3M | 1.9% | +255.2% |
| TSLA TESLA INC | Industrials | 200.8K | $74.6M | 1.8% | +7.9% |
| CRWV COREWEAVE INC-CL A | Technology | 810.5K | $62.8M | 1.5% | +33.7% |
| WIX WIX.COM LTD | Technology | 650.4K | $58.6M | 1.4% | -47.9% |
| HUBS HUBSPOT INC | Technology | 232.1K | $56.7M | 1.4% | New |
| AFRM AFFIRM HOLDINGS INC | Financials | 1.2M | $54.7M | 1.3% | -13.7% |
| SNPS SYNOPSYS INC | Technology | 136.9K | $54.3M | 1.3% | New |
| RL RALPH LAUREN CORP | Other | 128.8K | $44.3M | 1.1% | +1.0% |
| AXON AXON ENTERPRISE INC | Industrials | 102.1K | $43.4M | 1.1% | -3.2% |
| WING WINGSTOP INC | Consumer discretionary | 270.3K | $41.9M | 1.0% | -30.7% |
| SMTC SEMTECH CORP | Technology | 541.8K | $41.7M | 1.0% | -21.7% |
| ACVA ACV AUCTIONS INC-A | Services media | 9.7M | $41.3M | 1.0% | -21.6% |
| COMP COMPASS INC - CLASS A | Real estate | 5.6M | $40.7M | 1.0% | -36.2% |
| FERG FERGUSON ENTERPRISES INC | Consumer discretionary | 146.4K | $34.1M | 0.8% | -17.7% |
| CHYM CHIME FINANCIAL INC-CL A | Financials | 1.6M | $30.4M | 0.7% | +7.9% |
| AVAV AEROVIRONMENT INC | Industrials | 161.7K | $29.6M | 0.7% | New |
| INTC INTEL CORP | Technology | 653.8K | $28.9M | 0.7% | +35.1% |
| RBRK RUBRIK INC-A | Technology | 566.5K | $27.7M | 0.7% | -36.7% |
| FROG JFROG LTD | Technology | 555.0K | $26.0M | 0.6% | +37.3% |
| MA MASTERCARD INC - A | Services media | 49.6K | $24.8M | 0.6% | +7.9% |
| AMBQ AMBIQ MICRO INC | Technology | 862.2K | $21.9M | 0.5% | +23.8% |
| SNOW SNOWFLAKE INC | Technology | 144.8K | $21.8M | 0.5% | -69.8% |
| V VISA INC-CLASS A SHARES | Services media | 71.6K | $21.7M | 0.5% | New |
| GFS GLOBALFOUNDRIES INC | Technology | 474.6K | $21.1M | 0.5% | New |
| ROG ROGERS CORP | Materials | 186.1K | $20.0M | 0.5% | +8.2% |
| WRBY WARBY PARKER INC-CLASS A | Healthcare | 687.0K | $14.5M | 0.4% | +74.8% |
| VECO VEECO INSTRUMENTS INC | Industrials | 233.9K | $7.9M | 0.2% | New |
| NBIS NEBIUS GROUP NV | Technology | 63.1K | $6.5M | 0.2% | New |
| EQPT EQUIPMENTSHARE.COM INC-A | Services media | 213.4K | $4.3M | 0.1% | New |
| TBLA TABOOLA.COM LTD | Technology | 820.8K | $2.5M | 0.1% | +11.2% |
| BTGO BITGO HOLDINGS INC-CL A | Financials | 29.1K | $240K | 0.0% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 18, 2026 | 54 | $5.00B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 56 | $8.18B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 58 | $5.13B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 48 | $3.60B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 44 | $3.29B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 45 | $4.57B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 43 | $3.93B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 40 | $3.06B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 38 | $4.41B | canonical | SEC ↗ |