Candlestick Capital Management LP

CIK

1789779

Location

GREENWICH, CT

Portfolio Value

Mid $3,833,844,698

Diversification

Diversified

Filing Date

Global Rank

#806 / 7,986 ▼ 110 · as of Sep 2025

Top Industry

Airlines 24.5%

3Y Alpha vs SPY

-3.5%

Period ended 9 months ago

Filed Nov 14, 2025 · 8mo

23 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+55.8%

SPY

+76.0%

Annualised alpha

-4.8%

Max drawdown

−27.9%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

45 positions · as of Sep 30, 2025 · Δ vs Jun 30, 2025

Top Position

10.9%

−0.2 pts

Top 5

35.7%

+3.7 pts

Top 10

52.7%

+6.6 pts

HHI

412

Diversified+53

Portfolio Trend

23 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2025

Sector	% Portfolio	Value	Positions
Consumer Cyclical	32.4%	$1,242,717,454	19
Industrials	21.3%	$815,578,310	5
Unclassified	13.3%	$509,533,065	2
Communication Services	10.7%	$410,936,263	5
Technology	10.7%	$408,454,868	5
Consumer Defensive	10.2%	$389,422,487	7
Basic Materials	1.0%	$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

14 positions

Ticker	Company	Δ Shares	Shares	Value
DAL	Delta Air Lines, Inc.	+1,768,217	7,365,791	$418,008,639
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
CCL	Carnival Corp Ltd.	+338,103	4,131,417	$119,439,265
AAPL	Apple Inc.	+308,947	888,647	$226,276,185
H	Hyatt Hotels Corp	+221,039	631,290	$89,598,989
CHWY	Chewy, Inc.	+137,382	1,476,101	$59,708,285
CNK	Cinemark Holdings, Inc.	+127,337	5,158,151	$144,531,391
YUM	Yum Brands Inc	+119,673	660,916	$100,459,232
ULTA	Ulta Beauty, Inc.	+101,510	130,101	$71,132,721
AAL	American Airlines Group Inc.	+68,700	4,022,200	$45,209,528
No positions match the current search.

Trimmed

Positions the filer reduced

12 positions

Ticker	Company	Δ Shares	Shares	Value
NCLH	Norwegian Cruise Line Holdings Ltd.	−2,134,158	2,767,223	$68,156,702
CELH	Celsius Holdings, Inc.	−1,002,061	689,322	$39,629,121
ALK	Alaska Air Group, Inc.	−827,772	1,878,428	$93,508,145
SBUX	Starbucks Corp	−778,825	80,542	$6,813,853
HIMS	Hims & Hers Health, Inc.	−719,100	335,200	$19,012,544
QQQ	Invesco Qqq Trust, Series 1	−520,200	402,300	$241,528,851
MSFT	Microsoft Corp	−276,792	108,762	$56,333,277
NKE	NIKE, Inc.	−218,636	1,102,900	$76,905,217
SPY	Spdr S&P 500 ETF Trust	−124,900	402,300	$268,004,214
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
No positions match the current search.

New Positions

Positions the filer opened this quarter

19 positions

Ticker	Company	Shares	Value
SPOT	Spotify Technology S.A.	164,643	$114,920,814
MDB	MongoDB, Inc.	255,493	$79,299,917
CHD	Church & Dwight Co Inc /De/	861,651	$75,506,477
DECK	Deckers Outdoor Corp	737,400	$74,750,238
META	Meta Platforms, Inc.	100,058	$73,480,594
GPC	Genuine Parts Co	501,496	$69,507,345
HSY	Hershey Co	344,660	$64,468,653
MHK	Mohawk Industries Inc	413,592	$53,320,280
TSCO	Tractor Supply Co /De/	919,039	$52,265,747
LUV	Southwest Airlines Co	1,340,800	$42,784,928
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
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
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
KDP	Keurig Dr Pepper Inc.	2,706,213	$89,467,401
EIX	Edison International	1,623,651	$83,780,391
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
KVUE	Kenvue Inc.	3,163,636	$66,214,901
RBA	Rb Global Inc.	608,898	$64,658,878
FICO	Fair Isaac Corp	35,022	$64,018,815
TSLA	Tesla, Inc.	197,600	$62,769,616
HD	Home Depot, Inc.	171,151	$62,750,802
AZO	Autozone Inc	14,688	$54,525,234
TGT	Target Corp	527,200	$52,008,280
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
CSGP	Costar Group, Inc.	596,098	$47,926,279
ORCL	Oracle Corp	196,828	$43,032,505
MCO	Moodys Corp /De/	82,201	$41,231,199
BFAM	Bright Horizons Family Solutions Inc.	319,569	$39,495,532
DOCU	Docusign, Inc.	385,137	$29,998,320
JBS	Jbs N.V.	2,029,657	$29,653,288
MTCH	Match Group, Inc.	854,502	$26,395,566
BRBR	Bellring Brands, Inc.	439,756	$25,475,065
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

45 positions · $3,833,844,698 total · 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	% of Portfolio
DAL	Delta Air Lines, Inc. Industrials	Added	7,365,791	+1,768,217	$418,008,639	+51.8%	10.90%
SPY	Spdr S&P 500 ETF Trust	Reduced	402,300	-124,900	$268,004,214	−17.7%	6.99%
QQQ	Invesco Qqq Trust, Series 1	Reduced	402,300	-520,200	$241,528,851	−52.5%	6.30%
AAPL	Apple Inc. Technology	Added	888,647	+308,947	$226,276,185	+90.2%	5.90%
UAL	United Airlines Holdings, Inc. Industrials	Added	2,239,037	+624,752	$216,067,070	+68.1%	5.64%
TPR	Tapestry, Inc. Consumer Cyclical	Added	1,305,329	+436,645	$147,789,349	+93.7%	3.85%
CNK	Cinemark Holdings, Inc. Communication Services	Added	5,158,151	+127,337	$144,531,391	−4.8%	3.77%
AS	Amer Sports, Inc. Consumer Cyclical	Added	3,568,381	+702,091	$124,001,239	+11.6%	3.23%
CCL	Carnival Corp Ltd. Consumer Cyclical	Added	4,131,417	+338,103	$119,439,265	+12.0%	3.12%
SPOT	Spotify Technology S.A. Communication Services	NEW	164,643	NEW	$114,920,814	NEW	3.00%
YUM	Yum Brands Inc Consumer Cyclical	Added	660,916	+119,673	$100,459,232	+25.3%	2.62%
ALK	Alaska Air Group, Inc. Industrials	Reduced	1,878,428	-827,772	$93,508,145	−30.2%	2.44%
H	Hyatt Hotels Corp Consumer Cyclical	Added	631,290	+221,039	$89,598,989	+56.4%	2.34%
EL	Estee Lauder Companies Inc Consumer Defensive	Added	965,049	+423,806	$85,040,117	+94.5%	2.22%
MDB	MongoDB, Inc. Technology	NEW	255,493	NEW	$79,299,917	NEW	2.07%
NKE	NIKE, Inc. Consumer Cyclical	Reduced	1,102,900	-218,636	$76,905,217	−18.1%	2.01%
CHD	Church & Dwight Co Inc /De/ Consumer Defensive	NEW	861,651	NEW	$75,506,477	NEW	1.97%
DECK	Deckers Outdoor Corp Consumer Cyclical	NEW	737,400	NEW	$74,750,238	NEW	1.95%
META	Meta Platforms, Inc. Communication Services	NEW	100,058	NEW	$73,480,594	NEW	1.92%
ULTA	Ulta Beauty, Inc. Consumer Cyclical	Added	130,101	+101,510	$71,132,721	+431.8%	1.86%
GPC	Genuine Parts Co Consumer Cyclical	NEW	501,496	NEW	$69,507,345	NEW	1.81%
NCLH	Norwegian Cruise Line Holdings Ltd. Consumer Cyclical	Reduced	2,767,223	-2,134,158	$68,156,702	−31.4%	1.78%
HSY	Hershey Co Consumer Defensive	NEW	344,660	NEW	$64,468,653	NEW	1.68%
PFGC	Performance Food Group Co Consumer Defensive	Added	586,599	+504,371	$61,029,759	+748.5%	1.59%
CHWY	Chewy, Inc. Consumer Cyclical	Added	1,476,101	+137,382	$59,708,285	+4.6%	1.56%
THO	Thor Industries Inc Consumer Cyclical	Reduced	551,457	-91,266	$57,180,576	+0.2%	1.49%
MSFT	Microsoft Corp Technology	Reduced	108,762	-276,792	$56,333,277	−70.6%	1.47%
T	At&T Inc. Communication Services	Reduced	1,933,593	-86,511	$54,604,666	−6.6%	1.42%
MHK	Mohawk Industries Inc Consumer Cyclical	NEW	413,592	NEW	$53,320,280	NEW	1.39%
TSCO	Tractor Supply Co /De/ Consumer Cyclical	NEW	919,039	NEW	$52,265,747	NEW	1.36%
AAL	American Airlines Group Inc. Industrials	Added	4,022,200	+68,700	$45,209,528	+1.9%	1.18%
LUV	Southwest Airlines Co Industrials	NEW	1,340,800	NEW	$42,784,928	NEW	1.12%
CELH	Celsius Holdings, Inc. Consumer Defensive	Reduced	689,322	-1,002,061	$39,629,121	−49.5%	1.03%
CRM	Salesforce, Inc. Technology	NEW	164,523	NEW	$38,991,951	NEW	1.02%
SHW	Sherwin Williams Co Basic Materials	NEW	110,292	NEW	$38,189,707	NEW	1.00%
ORLY	O Reilly Automotive Inc Consumer Cyclical	Reduced	341,917	-117,143	$36,862,071	−10.9%	0.96%
ELF	e.l.f. Beauty, Inc. Consumer Defensive	NEW	241,262	NEW	$31,962,389	NEW	0.83%
NWL	Newell Brands Inc. Consumer Defensive	NEW	6,066,025	NEW	$31,785,971	NEW	0.83%
RBLX	Roblox Corp Communication Services	NEW	168,920	NEW	$23,398,798	NEW	0.61%
HIMS	Hims & Hers Health, Inc. Healthcare	Reduced	335,200	-719,100	$19,012,544	−63.8%	0.50%
WING	Wingstop Inc. Consumer Cyclical	NEW	68,348	NEW	$17,201,824	NEW	0.45%
DKNG	DraftKings Inc. Consumer Cyclical	NEW	290,161	NEW	$10,852,021	NEW	0.28%
WIX	Wix.com Ltd. Technology	NEW	42,524	NEW	$7,553,538	NEW	0.20%
SBUX	Starbucks Corp Consumer Cyclical	Reduced	80,542	-778,825	$6,813,853	−91.3%	0.18%
WOOF	Petco Health & Wellness Company, Inc. Consumer Cyclical	NEW	1,750,000	NEW	$6,772,500	NEW	0.18%