Candlestick Capital Management LP

CIK

1789779

Location

GREENWICH, CT

Portfolio Value

Mid $4,046,831,890

Diversification

Diversified

Filing Date

Global Rank

#925 / 8,113 ▼ 198 · as of Sep 2025

Top Industry

Airlines 24.5%

Period ended 1 year ago

Filed Nov 14, 2025 · 12mo

23 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Sep 30, 2025, never from the firm's own description.

Style

Diversified active

Top 10 weight 49.1%, 26.4 effective positions, active share 89.2% against the Russell 1000 as of 2025-09-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

High turnover

183.6% over the last four quarters (100%+)

Horizon

Short horizon

Value-weighted holding period 3.7 quarters (under 4)

Closest benchmark: the Russell 1000 as of 2025-09-30, active share 89.2%; sector active share 57.9% against the combined 13F book's sector weights.

Over time 23 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

49 tracked positions · as of Sep 30, 2025 · Δ vs Jun 30, 2025

Top Position

10.3%

+0.6 pts

Top 5

33.9%

+4.0 pts

Top 10

49.9%

+6.1 pts

HHI

380

Diversified+65

Portfolio Trend

23 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2025

Sector	% Portfolio	Value	Positions
Consumer Cyclical	30.7%	$1,242,717,454	19
Industrials	20.2%	$815,578,310	5
Unclassified	17.9%	$722,520,257	6
Communication Services	10.2%	$410,936,263	5
Technology	10.1%	$408,454,868	5
Consumer Defensive	9.6%	$389,422,487	7
Basic Materials	0.9%	$38,189,707	1
Healthcare	0.5%	$19,012,544	1

Last Quarter's Activity

Export CSV

Sep 30, 2025 vs Jun 30, 2025

Added To

Positions the filer increased

11 positions

Ticker	Company	Δ Shares	Shares	Value
NCLH	Norwegian Cruise Line Holdings Ltd.	+1,248,442	2,767,223	$68,156,702
AS	Amer Sports, Inc.	+702,091	3,568,381	$124,001,239
UAL	United Airlines Holdings, Inc.	+624,752	2,239,037	$216,067,070
PFGC	Performance Food Group Co	+504,371	586,599	$61,029,759
TPR	Tapestry, Inc.	+436,645	1,305,329	$147,789,349
EL	Estee Lauder Companies Inc	+423,806	965,049	$85,040,117
DAL	Delta Air Lines, Inc.	+388,317	2,264,991	$128,538,239
H	Hyatt Hotels Corp	+221,039	631,290	$89,598,989
CHWY	Chewy, Inc.	+137,382	1,476,101	$59,708,285
YUM	Yum Brands Inc	+119,673	660,916	$100,459,232
ULTA	Ulta Beauty, Inc.	+101,510	130,101	$71,132,721
No positions match the current search.

Trimmed

Positions the filer reduced

8 positions

Ticker	Company	Δ Shares	Shares	Value
CELH	Celsius Holdings, Inc.	−1,002,061	689,322	$39,629,121
CNK	Cinemark Holdings, Inc.	−699,863	4,330,951	$121,353,247
SBUX	Starbucks Corp	−440,525	80,542	$6,813,853
MSFT	Microsoft Corp	−154,992	108,762	$56,333,277
ORLY	O Reilly Automotive Inc	−117,143	341,917	$36,862,071
THO	Thor Industries Inc	−91,266	551,457	$57,180,576
T	At&T Inc.	−86,511	1,933,593	$54,604,666
CCL	Carnival Corp Ltd.	−1,597	3,097,517	$89,549,216
No positions match the current search.

New Positions

Positions the filer opened this quarter

20 positions

Ticker	Company	Shares	Value
SPOT	Spotify Technology S.A.	164,643	$114,920,814
AAPL	Apple Inc.	371,747	$94,657,938
MDB	MongoDB, Inc.	255,493	$79,299,917
CHD	Church & Dwight Co Inc	861,651	$75,506,477
META	Meta Platforms, Inc.	100,058	$73,480,594
HSY	Hershey Co	344,660	$64,468,653
GPC	Genuine Parts Co	391,296	$54,233,625
MHK	Mohawk Industries Inc	413,592	$53,320,280
TSCO	Tractor Supply Co	919,039	$52,265,747
CRM	Salesforce, Inc.	164,523	$38,991,951
SHW	Sherwin Williams Co	110,292	$38,189,707
ELF	e.l.f. Beauty, Inc.	241,262	$31,962,389
NWL	Newell Brands Inc.	6,066,025	$31,785,971
RBLX	Roblox Corp	168,920	$23,398,798
ALK	Alaska Air Group, Inc.	361,928	$18,016,775
WING	Wingstop Inc.	68,348	$17,201,824
DKNG	DraftKings Inc.	290,161	$10,852,021
WIX	Wix.com Ltd.	42,524	$7,553,538
WOOF	Petco Health & Wellness Company, Inc.	1,750,000	$6,772,500
—		965,050	$0
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
AMZN	Amazon Com Inc	722,954	$158,608,878
SNOW	Snowflake Inc.	452,632	$101,285,462
—		8,399,764	$96,429,291
NFLX	Netflix Inc	70,942	$95,000,560
KDP	Keurig Dr Pepper Inc.	2,706,213	$89,467,401
DKS	Dick's Sporting Goods, Inc.	372,101	$73,605,298
SOLV	Solventum Corp	947,174	$71,833,676
MMM	3M Co	439,760	$66,949,062
NKE	NIKE, Inc.	915,536	$65,039,677
RBA	Rb Global Inc.	608,898	$64,658,878
FICO	Fair Isaac Corp	35,022	$64,018,815
HD	Home Depot, Inc.	171,151	$62,750,802
AZO	Autozone Inc	14,688	$54,525,234
SFM	Sprouts Farmers Market, Inc.	310,718	$51,156,611
SIG	Signet Jewelers Ltd	632,533	$50,318,000
PM	Philip Morris International Inc.	270,620	$49,288,020
EIX	Edison International	947,151	$48,872,991
CSGP	Costar Group, Inc.	596,098	$47,926,279
KVUE	Kenvue Inc.	2,148,836	$44,975,137
ORCL	Oracle Corp	196,828	$43,032,505
MCO	Moodys Corp	82,201	$41,231,199
BFAM	Bright Horizons Family Solutions Inc.	319,569	$39,495,532
ITB	iShares U.S. Home Construction ETF	338,276	$31,517,174
DOCU	Docusign, Inc.	385,137	$29,998,320
JBS	Jbs N.V.	2,029,657	$29,653,288
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

49 tracked positions · $4,046,831,890 total · filing declares 55 positions · $4,122,462,876 · as of Sep 30, 2025

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
DAL	Delta Air Lines, Inc. CALL + SHARES Industrials	Added	7,365,791	+1,768,217	$418,008,639	+51.8%	12	$49.64	10.33%
SPY	Spdr S&P 500 ETF Trust PUT	Reduced	402,300	-124,900	$268,004,214	−17.7%	—	—	6.62%
QQQ	Invesco Qqq Trust, Series 1 PUT	Reduced	402,300	-520,200	$241,528,851	−52.5%	—	—	5.97%
AAPL	Apple Inc. CALL + SHARES Technology	Added	888,647	+308,947	$226,276,185	+90.2%	1	$225.91	5.59%
UAL	United Airlines Holdings, Inc. Industrials	Added	2,239,037	+624,752	$216,067,070	+68.1%	7	$61.03	5.34%
TPR	Tapestry, Inc. Consumer Cyclical	Added	1,305,329	+436,645	$147,789,349	+93.7%	4	$72.47	3.65%
CNK	Cinemark Holdings, Inc. CALL + SHARES Communication Services	Added	5,158,151	+127,337	$144,531,391	−4.8%	7	$21.99	3.57%
AS	Amer Sports, Inc. Consumer Cyclical	Added	3,568,381	+702,091	$124,001,239	+11.6%	7	$19.94	3.06%
CCL	Carnival Corp Ltd. CALL + SHARES Consumer Cyclical	Added	4,131,417	+338,103	$119,439,265	+12.0%	2	$21.40	2.95%
SPOT	Spotify Technology S.A. Communication Services	NEW	164,643	NEW	$114,920,814	NEW	1	$699.24	2.84%
YUM	Yum Brands Inc Consumer Cyclical	Added	660,916	+119,673	$100,459,232	+25.3%	2	$146.22	2.48%
IWM	iShares Russell 2000 ETF PUT	Reduced	402,300	-520,200	$97,340,508	−51.1%	—	—	2.41%
ALK	Alaska Air Group, Inc. CALL + SHARES Industrials	Reduced	1,878,428	-827,772	$93,508,145	−30.2%	1	$55.61	2.31%
H	Hyatt Hotels Corp Consumer Cyclical	Added	631,290	+221,039	$89,598,989	+56.4%	2	$131.29	2.21%
EL	Estee Lauder Companies Inc Consumer Defensive	Added	965,049	+423,806	$85,040,117	+94.5%	2	$75.18	2.10%
MDB	MongoDB, Inc. Technology	NEW	255,493	NEW	$79,299,917	NEW	1	$257.06	1.96%
NKE	NIKE, Inc. CALL Consumer Cyclical	Reduced	1,102,900	-218,636	$76,905,217	−18.1%	—	—	1.90%
CHD	Church & Dwight Co Inc Consumer Defensive	NEW	861,651	NEW	$75,506,477	NEW	1	$93.74	1.87%
DECK	Deckers Outdoor Corp PUT Consumer Cyclical	NEW	737,400	NEW	$74,750,238	NEW	—	—	1.85%
META	Meta Platforms, Inc. Communication Services	NEW	100,058	NEW	$73,480,594	NEW	1	$744.28	1.82%
ULTA	Ulta Beauty, Inc. Consumer Cyclical	Added	130,101	+101,510	$71,132,721	+431.8%	2	$490.67	1.76%
GPC	Genuine Parts Co CALL + SHARES Consumer Cyclical	NEW	501,496	NEW	$69,507,345	NEW	1	$134.14	1.72%
	PUT	Reduced	804,500	-223,400	$69,428,350	−3.9%	—	—	1.72%
NCLH	Norwegian Cruise Line Holdings Ltd. Consumer Cyclical	Reduced	2,767,223	-2,134,158	$68,156,702	−31.4%	4	$22.75	1.68%
HSY	Hershey Co Consumer Defensive	NEW	344,660	NEW	$64,468,653	NEW	1	$181.71	1.59%
PFGC	Performance Food Group Co Consumer Defensive	Added	586,599	+504,371	$61,029,759	+748.5%	8	$95.31	1.51%
CHWY	Chewy, Inc. Consumer Cyclical	Added	1,476,101	+137,382	$59,708,285	+4.6%	3	$36.12	1.48%
THO	Thor Industries Inc Consumer Cyclical	Reduced	551,457	-91,266	$57,180,576	+0.2%	11	$93.04	1.41%
MSFT	Microsoft Corp Technology	Reduced	108,762	-276,792	$56,333,277	−70.6%	2	$434.27	1.39%
T	At&T Inc. Communication Services	Reduced	1,933,593	-86,511	$54,604,666	−6.6%	2	$27.56	1.35%
MHK	Mohawk Industries Inc Consumer Cyclical	NEW	413,592	NEW	$53,320,280	NEW	1	$123.84	1.32%
TSCO	Tractor Supply Co Consumer Cyclical	NEW	919,039	NEW	$52,265,747	NEW	1	$58.90	1.29%
XRT	State Street(R) SPDR(R) S&P(R) Retail ETF PUT	NEW	536,300	NEW	$46,218,334	NEW	—	—	1.14%
AAL	American Airlines Group Inc. PUT Industrials	Added	4,022,200	+68,700	$45,209,528	+1.9%	—	—	1.12%
LUV	Southwest Airlines Co PUT Industrials	NEW	1,340,800	NEW	$42,784,928	NEW	—	—	1.06%
CELH	Celsius Holdings, Inc. Consumer Defensive	Reduced	689,322	-1,002,061	$39,629,121	−49.5%	3	$28.10	0.98%
CRM	Salesforce, Inc. Technology	NEW	164,523	NEW	$38,991,951	NEW	1	$252.21	0.96%
SHW	Sherwin Williams Co Basic Materials	NEW	110,292	NEW	$38,189,707	NEW	1	$352.59	0.94%
ORLY	O Reilly Automotive Inc Consumer Cyclical	Reduced	341,917	-117,143	$36,862,071	−10.9%	3	$86.99	0.91%
ELF	e.l.f. Beauty, Inc. Consumer Defensive	NEW	241,262	NEW	$31,962,389	NEW	1	$123.34	0.79%
NWL	Newell Brands Inc. Consumer Defensive	NEW	6,066,025	NEW	$31,785,971	NEW	1	$5.67	0.79%
RBLX	Roblox Corp Communication Services	NEW	168,920	NEW	$23,398,798	NEW	1	$124.28	0.58%
HIMS	Hims & Hers Health, Inc. PUT Healthcare	Reduced	335,200	-719,100	$19,012,544	−63.8%	—	—	0.47%
WING	Wingstop Inc. Consumer Cyclical	NEW	68,348	NEW	$17,201,824	NEW	1	$310.70	0.43%
DKNG	DraftKings Inc. Consumer Cyclical	NEW	290,161	NEW	$10,852,021	NEW	1	$44.34	0.27%
WIX	Wix.com Ltd. Technology	NEW	42,524	NEW	$7,553,538	NEW	1	$150.49	0.19%
SBUX	Starbucks Corp Consumer Cyclical	Reduced	80,542	-778,825	$6,813,853	−91.3%	5	$100.21	0.17%
WOOF	Petco Health & Wellness Company, Inc. Consumer Cyclical	NEW	1,750,000	NEW	$6,772,500	NEW	1	$3.35	0.17%
		NEW	965,050	NEW	$0	NEW	1	unpriced	0.00%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.