Candlestick Capital Management LP
CIK 1789779 · View on SEC EDGAR ↗
- Portfolio value
- $4.1B
- Positions
- 55
- As of
- Sept. 30, 2025 Data as of Q3 2025
#923 of 9,443 by 13F value · top 9.8%
Portfolio value QoQ: -21.2% 13F does not disclose cash
- Top 10 holdings weight
- 43.26%
- Top 25 holdings weight
- 73.05%
- Positions above 1%
- 38
- Effective number of positions
- 33.1
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q3 2025: 39.37% Est. buys $1,841,250,399 · sells $2,828,814,133
Median holding: 1.0 quarters Tracked Q4 2024–Q3 2025 · 34.6% still held
- New positions
- 27
- Increased
- 14
- Decreased
- 14
- Closed
- 36
Put-notional exposure: 21.9% puts 13F reports option positions at underlying notional value — may include hedges, not necessarily bearish bets
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Annualized: +4.9% · S&P 500: +18.3%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 97.4% · Options excluded: 42.0%
Sector breakdown
Consumer Discretionary
23.4%
Industrials
19.8%
Technology
9.9%
Communication Services
8.6%
Retail
7.0%
Consumer products
6.7%
Consumer Staples
2.5%
Telecommunication
1.3%
Materials
0.9%
Health Care
0.5%
Other/Unmapped
19.4%
Full portfolio 55 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| DAL Delta Air Lines, Inc. Common Stock | $289,470,400 | 7.02% | 5,100,800 | Call option | $106,476,538 | Up ×1 | |
| SPY SPY | $268,004,214 | 6.50% | 402,300 | Put option | $-57,726,306 | Down ×1 | |
| QQQ Invesco QQQ Trust, Series 1 | $241,528,851 | 5.86% | 402,300 | Put option | $-267,359,049 | Down ×1 | |
| UAL United Airlines Holdings, Inc. - Common Stock | $216,067,071 | 5.24% | 2,239,037 | $87,521,556 | Up ×2 | ||
| TPR Tapestry, Inc. Common Stock | $147,789,349 | 3.58% | 1,305,329 | $71,510,207 | Up ×1 | ||
| AAPL Apple Inc. - Common Stock | $131,618,247 | 3.19% | 516,900 | Call option | Up ×1 | ||
| DAL Delta Air Lines, Inc. Common Stock | $128,538,239 | 3.12% | 2,264,991 | $36,243,412 | Up ×2 | ||
| AS Amer Sports, Inc. Ordinary Shares | $124,001,240 | 3.01% | 3,568,381 | $12,903,840 | Up ×1 | ||
| CNK Cinemark Holdings Inc Cinemark Holdings, Inc. Common Stock | $121,353,247 | 2.94% | 4,330,951 | $-30,476,720 | Down ×2 | ||
| SPOT Spotify Technology S.A. Ordinary Shares | $114,920,814 | 2.79% | 164,643 | ||||
| YUM Yum! Brands, Inc. | $100,459,232 | 2.44% | 660,916 | $20,257,844 | Up ×1 | ||
| IWM | $97,340,508 | 2.36% | 402,300 | Put option | $-101,725,767 | Down ×1 | |
| AAPL Apple Inc. - Common Stock | $94,657,939 | 2.30% | 371,747 | Up ×1 | |||
| H Hyatt Hotels Corporation Class A Common Stock | $89,598,990 | 2.17% | 631,290 | $32,307,438 | Up ×1 | ||
| CCL Carnival Corporation Common Stock | $89,549,216 | 2.17% | 3,097,517 | $2,402,130 | Down ×1 | ||
| EL Estee Lauder Companies, Inc. (The) Common Stock | $85,040,118 | 2.06% | 965,049 | $41,307,684 | Up ×1 | ||
| MDB MongoDB, Inc. - Class A Common Stock | $79,299,917 | 1.92% | 255,493 | Up ×1 | |||
| NKE Nike, Inc. Common Stock | $76,905,217 | 1.87% | 1,102,900 | Call option | $48,062,977 | Up ×1 | |
| XLP XLP | $75,630,969 | 1.83% | 965,050 | Up ×1 | |||
| CHD Church & Dwight Company, Inc. Common Stock | $75,506,477 | 1.83% | 861,651 | Up ×1 | |||
| ALK Alaska Air Group, Inc. Common Stock | $75,491,370 | 1.83% | 1,516,500 | Call option | $-58,411,406 | Down ×1 | |
| DECK Deckers Outdoor Corporation Common Stock | $74,750,238 | 1.81% | 737,400 | Put option | |||
| META Meta Platforms, Inc. - Class A Common Stock | $73,480,594 | 1.78% | 100,058 | ||||
| ULTA Ulta Beauty, Inc. - Common Stock | $71,132,722 | 1.73% | 130,101 | $57,757,280 | Up ×1 | ||
| ARKK | $69,428,350 | 1.68% | 804,500 | Put option | $-2,822,741 | Down ×1 | |
| NCLH Norwegian Cruise Line Holdings Ltd. Ordinary Shares | $68,156,702 | 1.65% | 2,767,223 | $37,355,823 | Up ×2 | ||
| HSY The Hershey Company Common Stock | $64,468,653 | 1.56% | 344,660 | Up ×1 | |||
| PFGC Performance Food Group Company Common Stock | $61,029,760 | 1.48% | 586,599 | $53,837,277 | Up ×1 | ||
| CHWY Chewy, Inc. Class A Common Stock | $59,708,285 | 1.45% | 1,476,101 | $2,652,081 | Up ×1 | ||
| THO Thor Industries, Inc. Common Stock | $57,180,576 | 1.39% | 551,457 | $100,346 | Down ×1 | ||
| MSFT Microsoft Corporation - Common Stock | $56,333,278 | 1.37% | 108,762 | $-74,860,599 | Down ×1 | ||
| T AT&T Inc. | $54,604,666 | 1.32% | 1,933,593 | $-3,857,144 | Down ×1 | ||
| GPC Genuine Parts Company Common Stock | $54,233,626 | 1.32% | 391,296 | Up ×1 | |||
| MHK Mohawk Industries, Inc. Common Stock | $53,320,281 | 1.29% | 413,592 | Up ×1 | |||
| TSCO Tractor Supply Company - Common Stock | $52,265,748 | 1.27% | 919,039 | Up ×1 | |||
| XRT XRT | $46,218,334 | 1.12% | 536,300 | Put option | Up ×1 | ||
| AAL American Airlines Group, Inc. - Common Stock | $45,209,528 | 1.10% | 4,022,200 | Put option | $851,258 | Up ×1 | |
| LUV Southwest Airlines Company Common Stock | $42,784,928 | 1.04% | 1,340,800 | Put option | Up ×1 | ||
| CELH Celsius Holdings, Inc. - Common Stock | $39,629,122 | 0.96% | 689,322 | $-38,834,135 | Down ×1 | ||
| CRM Salesforce, Inc. Common Stock | $38,991,951 | 0.95% | 164,523 | ||||
| SHW Sherwin-Williams Company (The) Common Stock | $38,189,708 | 0.93% | 110,292 | ||||
| ORLY O'Reilly Automotive, Inc. - Common Stock | $36,862,072 | 0.89% | 341,917 | $-4,513,006 | Down ×1 | ||
| ELF e.l.f. Beauty, Inc. Common Stock | $31,962,390 | 0.78% | 241,262 | Up ×1 | |||
| NWL Newell Brands Inc. - Common Stock | $31,785,971 | 0.77% | 6,066,025 | Up ×1 | |||
| CCL Carnival Corporation Common Stock | $29,890,049 | 0.73% | 1,033,900 | Call option | Up ×1 | ||
| RBLX Roblox Corporation Class A Common Stock | $23,398,798 | 0.57% | 168,920 | Up ×1 | |||
| CNK Cinemark Holdings Inc Cinemark Holdings, Inc. Common Stock | $23,178,144 | 0.56% | 827,200 | Call option | Up ×1 | ||
| HIMS Hims & Hers Health, Inc. Class A Common Stock | $19,012,544 | 0.46% | 335,200 | Put option | $-33,544,311 | Down ×1 | |
| ALK Alaska Air Group, Inc. Common Stock | $18,016,776 | 0.44% | 361,928 | ||||
| WING Wingstop Inc. - Common Stock | $17,201,825 | 0.42% | 68,348 | Up ×1 | |||
| GPC Genuine Parts Company Common Stock | $15,273,720 | 0.37% | 110,200 | Call option | Up ×1 | ||
| DKNG DraftKings Inc. - Class A Common Stock | $10,852,021 | 0.26% | 290,161 | ||||
| WIX Wix.com Ltd. - Ordinary Shares | $7,553,538 | 0.18% | 42,524 | Up ×1 | |||
| SBUX Starbucks Corporation - Common Stock | $6,813,853 | 0.17% | 80,542 | $-40,931,516 | Down ×2 | ||
| WOOF Petco Health and Wellness Company, Inc. - Class A Common Stock | $6,772,500 | 0.16% | 1,750,000 | ||||
| No matches | |||||||
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| AAPL | $131,618,247 | 516,900 | 3.19% |
| SPOT | $114,920,814 | 164,643 | 2.79% |
| AAPL | $94,657,939 | 371,747 | 2.30% |
| MDB | $79,299,917 | 255,493 | 1.92% |
| XLP | $75,630,969 | 965,050 | 1.83% |
| CHD | $75,506,477 | 861,651 | 1.83% |
| DECK | $74,750,238 | 737,400 | 1.81% |
| META | $73,480,594 | 100,058 | 1.78% |
| HSY | $64,468,653 | 344,660 | 1.56% |
| GPC | $54,233,626 | 391,296 | 1.32% |
| MHK | $53,320,281 | 413,592 | 1.29% |
| TSCO | $52,265,748 | 919,039 | 1.27% |
| XRT | $46,218,334 | 536,300 | 1.12% |
| LUV | $42,784,928 | 1,340,800 | 1.04% |
| CRM | $38,991,951 | 164,523 | 0.95% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| QQQ | Trimmed | -520K | -$267.4M |
| DAL | Bought more | +1.4M | +$106.5M |
| IWM | Trimmed | -520K | -$101.7M |
| UAL | Bought more | +625K | +$87.5M |
| MSFT | Trimmed | -155K | -$74.9M |
| TPR | Bought more | +437K | +$71.5M |
| ALK | Trimmed | -1.2M | -$58.4M |
| SPY | Trimmed | -125K | -$57.7M |
| NKE | Bought more | +697K | +$48.1M |
| EL | Bought more | +424K | +$41.3M |
2 positions hidden (data completeness check)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| HYG | June 30, 2025 | 2,546,100 | $200,861,829 | No longer tracked |
| AMZN | Sept. 30, 2025 | 722,954 | $158,608,878 | 19.7% |
| NFLX | Sept. 30, 2025 | 118,342 | $158,475,322 | -93.3% |
| AMZN | March 31, 2025 | 494,356 | $108,456,763 | 38.2% |
| UBER | June 30, 2025 | 1,483,900 | $108,116,954 | -14.6% |
| BURL | March 31, 2025 | 362,575 | $103,355,630 | 38.7% |
| SNOW | Sept. 30, 2025 | 452,632 | $101,285,463 | 42.3% |
| WBA | Sept. 30, 2025 | 8,399,764 | $96,429,291 | No longer tracked |
| META | June 30, 2025 | 165,542 | $95,411,787 | -25.9% |
| LULU | June 30, 2025 | 325,900 | $92,249,254 | -50.5% |
| LW | March 31, 2025 | 1,349,138 | $90,162,893 | 1.6% |
| KDP | Sept. 30, 2025 | 2,706,213 | $89,467,402 | 23.5% |
| EIX | Sept. 30, 2025 | 1,623,651 | $83,780,392 | 34.9% |
| EEM | March 31, 2025 | 2,000,000 | $83,640,000 | No longer tracked |
| XHB | Sept. 30, 2025 | 811,900 | $80,028,983 | No longer tracked |
| VFC | June 30, 2025 | 5,004,953 | $77,676,871 | 20.4% |
| DKS | Sept. 30, 2025 | 372,101 | $73,605,299 | -16.8% |
| SOLV | Sept. 30, 2025 | 947,174 | $71,833,676 | 21.2% |
| KR | June 30, 2025 | 1,053,066 | $71,282,038 | -22.2% |
| HD | March 31, 2025 | 182,309 | $70,916,378 | -7.8% |
| MMM | Sept. 30, 2025 | 439,760 | $66,949,062 | 16.2% |
| XLI | June 30, 2025 | 509,200 | $66,740,844 | No longer tracked |
| MSCI | March 31, 2025 | 110,428 | $66,257,904 | -0.1% |
| KVUE | Sept. 30, 2025 | 3,163,636 | $66,214,901 | 17.8% |
| CMG | June 30, 2025 | 1,303,400 | $65,443,714 | -38.9% |
| RBA | Sept. 30, 2025 | 608,898 | $64,658,879 | -19.7% |
| FICO | Sept. 30, 2025 | 35,022 | $64,018,815 | -21.8% |
| TSLA | Sept. 30, 2025 | 197,600 | $62,769,616 | -22.4% |
| HD | Sept. 30, 2025 | 171,151 | $62,750,803 | -16.6% |
| AZO | Sept. 30, 2025 | 14,688 | $54,525,234 | -30.0% |
| AAL | March 31, 2025 | 3,000,000 | $52,290,000 | 29.1% |
| TGT | Sept. 30, 2025 | 527,200 | $52,008,280 | 78.7% |
| SFM | Sept. 30, 2025 | 310,718 | $51,156,612 | -27.7% |
| FLUT | March 31, 2025 | 194,717 | $50,324,609 | -53.9% |
| SIG | Sept. 30, 2025 | 632,533 | $50,318,000 | -13.4% |
| CSX | March 31, 2025 | 1,551,707 | $50,073,585 | 72.6% |
| PM | Sept. 30, 2025 | 270,620 | $49,288,021 | 17.8% |
| SPOT | March 31, 2025 | 108,974 | $48,752,788 | -1.8% |
| SJM | June 30, 2025 | 410,560 | $48,614,410 | 26.3% |
| CSGP | Sept. 30, 2025 | 596,098 | $47,926,279 | -60.3% |
| PINS | June 30, 2025 | 1,527,600 | $47,355,600 | -34.9% |
| SHW | March 31, 2025 | 139,119 | $47,290,722 | -1.6% |
| RCL | June 30, 2025 | 210,220 | $43,187,597 | -5.9% |
| ORCL | Sept. 30, 2025 | 196,828 | $43,032,506 | -49.3% |
| DKS | March 31, 2025 | 180,711 | $41,353,905 | -8.3% |
| MCO | Sept. 30, 2025 | 82,201 | $41,231,200 | 4.8% |
| XRT | June 30, 2025 | 586,600 | $40,528,194 | No longer tracked |
| CART | March 31, 2025 | 977,672 | $40,495,174 | 28.5% |
| BFAM | Sept. 30, 2025 | 319,569 | $39,495,533 | -32.2% |
| KMB | March 31, 2025 | 281,800 | $36,927,072 | -23.2% |
| CL | March 31, 2025 | 401,302 | $36,482,365 | -2.8% |
| DECK | June 30, 2025 | 318,400 | $35,600,304 | -13.0% |
| HSY | March 31, 2025 | 200,000 | $33,870,000 | 11.2% |
| NOW | June 30, 2025 | 42,000 | $33,437,880 | -37.0% |
| FIVE | March 31, 2025 | 315,956 | $33,162,742 | 221.8% |
| WYNN | March 31, 2025 | 381,087 | $32,834,456 | 17.1% |
| CRM | March 31, 2025 | 97,833 | $32,708,507 | -23.4% |
| TSLA | March 31, 2025 | 80,260 | $32,412,198 | 33.2% |
| ITB | Sept. 30, 2025 | 338,276 | $31,517,175 | No longer tracked |
| ACI | June 30, 2025 | 1,429,095 | $31,425,799 | -44.4% |
| DOCU | Sept. 30, 2025 | 385,137 | $29,998,321 | -13.6% |
| JBS | Sept. 30, 2025 | 2,029,657 | $29,653,289 | -7.0% |
| KO | June 30, 2025 | 410,534 | $29,402,445 | 28.8% |
| IGV | Sept. 30, 2025 | 263,500 | $28,853,250 | No longer tracked |
| TEAM | June 30, 2025 | 135,431 | $28,739,813 | -13.5% |
| RDDT | June 30, 2025 | 260,600 | $27,336,940 | -1.5% |
| MGM | June 30, 2025 | 891,100 | $26,412,204 | 24.6% |
| MTCH | Sept. 30, 2025 | 854,502 | $26,395,567 | 12.4% |
| BRBR | Sept. 30, 2025 | 439,756 | $25,475,065 | -69.9% |
| URBN | June 30, 2025 | 436,628 | $22,879,307 | 1.8% |
| TRU | June 30, 2025 | 269,839 | $22,393,939 | -4.0% |
| CVNA | Sept. 30, 2025 | 65,900 | $22,205,664 | -81.4% |
| AN | March 31, 2025 | 129,599 | $22,011,094 | 23.1% |
| ACVA | March 31, 2025 | 954,177 | $20,610,223 | -47.3% |
| DRI | March 31, 2025 | 108,701 | $20,293,390 | 5.9% |
| EL | March 31, 2025 | 250,000 | $18,745,000 | 48.8% |
| PAYC | Sept. 30, 2025 | 60,104 | $13,908,066 | 7.1% |
| PAYX | March 31, 2025 | 96,313 | $13,505,009 | -19.9% |
| DLTR | June 30, 2025 | 173,019 | $12,988,536 | 30.9% |
| ENPH | June 30, 2025 | 191,000 | $11,851,550 | -3.3% |
| BBY | June 30, 2025 | 156,404 | $11,512,898 | 30.5% |
| PCTY | March 31, 2025 | 57,501 | $11,469,724 | -19.9% |
| KNX | March 31, 2025 | 205,938 | $10,922,952 | 58.2% |
| RH | June 30, 2025 | 44,500 | $10,431,245 | -13.8% |
| ACN | March 31, 2025 | 28,894 | $10,164,620 | -40.7% |
| SGI | June 30, 2025 | 168,917 | $10,114,750 | -4.3% |
| GTM | Sept. 30, 2025 | 992,944 | $10,048,593 | -65.2% |
| CBRL | Sept. 30, 2025 | 144,338 | $8,816,165 | 24.6% |
| WOOF | March 31, 2025 | 2,219,172 | $8,455,045 | -5.7% |
| DKNG | June 30, 2025 | 251,519 | $8,352,946 | -39.2% |
| HAS | Sept. 30, 2025 | 92,210 | $6,806,942 | 21.9% |
| EAT | Sept. 30, 2025 | 29,139 | $5,254,636 | 80.4% |
| CWH | March 31, 2025 | 192,626 | $4,060,556 | -60.5% |