GAVIN BAKER

Grew up in the United States. Attended Harvard University.

Joined Fidelity Investments after college and spent nearly two decades there.

At Fidelity, Baker managed the OTC Portfolio and several other tech-focused funds. He was responsible for over $15 billion in assets.

He was one of Fidelity's top-performing portfolio managers, known for deep-dive research into technology companies. He was early in names like Facebook, Netflix, Salesforce, and Amazon.

In 2019, Baker left Fidelity to launch Atreides Management, a long/short hedge fund focused on technology and growth companies. The fund launched with about $1 billion in capital — attracted by Baker's stellar Fidelity track record.

Atreides has been a strong performer since launch, with Baker maintaining his reputation as one of the best fundamental technology investors in the business. He's known for extremely long research memos — his investment notes can run 50-100 pages on a single company.

He also became one of the most followed investors on Twitter, where he shares market commentary, stock analysis, and technology industry insights.

Atreides Management is the hedge fund. It's a long/short equity fund focused primarily on technology, media, and telecom stocks.

Before Atreides, Baker ran over $15 billion at Fidelity across the OTC Portfolio and other tech funds. He doesn't have a diversified portfolio of companies — he runs one fund very intensely.

Baker is a fundamental research machine. He reads everything.

His research memos are legendary in the hedge fund world — sometimes 100 pages on a single company. He thinks about technology investing in terms of competitive dynamics, total addressable markets, and management quality.

He's not a quant or a momentum trader. He's a deep-dive fundamental investor who happens to focus on the fastest-moving sector.

Being early and right on the FAANG trade during his Fidelity years. Baker was an early, large-position holder of Facebook, Amazon, Netflix, and Google when they were still considered speculative growth stocks by many institutional investors.

These positions drove enormous returns for Fidelity's funds and built his reputation as one of the best tech investors in the business.

Some high-conviction positions haven't worked as planned — the nature of concentrated tech investing means that when a thesis breaks, the losses are significant. The 2022 tech selloff hit long-biased tech funds hard across the board.

Baker has been transparent about losses on Twitter, which is refreshing but also puts his mistakes on public display.

The best technology investments come from understanding where an industry is going in 5-10 years and buying the winners before the market figures it out. Baker thinks about technology markets in terms of power laws — a few companies capture most of the value, and the key is identifying which ones.

He also believes in the importance of management quality, which is unusual for a public market investor.

Private about personal life. Lives in the San Francisco Bay Area.

Known in the industry for being genuinely obsessed with technology and research — colleagues describe him as someone who reads for 14 hours a day. Named his fund after the Atreides family in Frank Herbert's Dune.

Harvard University. Studied there before joining Fidelity directly out of school.

Spent nearly 20 years at one firm, which is rare in the hedge fund world — it speaks to how much Fidelity valued him.

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