Candlestick Capital Management LP
CIK:0001789779
Hedge Fund
$5B AUM
73 holdings
Greenwich, CT, United States
Candlestick Capital Management LP is a hedge fund headquartered in Greenwich, Connecticut. Founded in January 2019, the firm operates as an SEC-registered investment adviser managing private funds and caters primarily to accredited investors and institutions. As of 2025, the firm employs approximately 40 professionals, with the majority in investment roles.
Investment Strategy
Candlestick Capital Management LP pursues an equity long/short strategy, focusing primarily on public equities. The firm utilizes fundamental research to identify investment opportunities, seeking to generate risk-adjusted returns for its clients. It manages private funds, employing rigorous risk controls and diversified portfolios to achieve capital appreciation over time.
Top Buys
A
AMZNAMAZON COM INC+$158.6M
M
MSFTMICROSOFT CORP+$131.2M
C
CCLCARNIVAL CORP+$87.1M
Y
YUMYUM BRANDS INC+$80.2M
D
DKSDICKS SPORTING GOODS INC+$73.6M
Top Sells
M
METAMETA PLATFORMS INC-$95.4M
N
NFLXNETFLIX INC-$71.5M
K
KRKROGER CO-$71.3M
V
VFCV F CORP-$67.6M
S
SPYSPDR S&P 500 ETF TR-$54.7M
Top Holdings
A
AMZNAMAZON COM INC+3.0%$158.6M
C
CNKCINEMARK HLDGS INC+2.9%$151.8M
M
MSFTMICROSOFT CORP+2.5%$131.2M
U
UALUNITED AIRLS HLDGS INC+2.5%$128.5M
A
ASAMER SPORTS INC+2.1%$111.1M
Equity Positions (50)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
A AMZN | AMAZON COM INC | 3.03% | $158.6M | 722,954 | $219.39 | $219.39 | +$158.6M |
C CNK | CINEMARK HLDGS INC | 2.90% | $151.8M | 5,030,814 | $23.53 | $30.18 | +$15.2M |
M MSFT | MICROSOFT CORP | 2.51% | $131.2M | 263,754 | $497.41 | $497.41 | +$131.2M |
U UAL | UNITED AIRLS HLDGS INC | 2.46% | $128.5M | 1,614,285 | $50.18 | $79.63 | +$23.5M |
A AS | AMER SPORTS INC | 2.12% | $111.1M | 2,866,290 | $15.60 | $38.76 | +$21.3M |
Options Positions (10)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
Q QQQ | INVESCO QQQ TR | Bought | Put | $508.9M | 9,225 | $551.64 | $478.01 | +5,406 | +$329.8M |
S SPY | SPDR S&P 500 ETF TR | Bought | Put | $325.7M | 5,272 | $617.85 | $590.87 | +1,453 | +$112.1M |
I IWM | ISHARES TR | Bought | Put | $199.1M | 9,225 | $215.79 | $218.46 | +2,860 | +$72.1M |
D DAL | DELTA AIR LINES INC DEL | Sold | Call | $183.0M | 37,209 | $49.18 | $49.18 | -30,568 | -$112.5M |
A ALK | ALASKA AIR GROUP INC | Bought | Call | $133.9M | 27,062 | $49.48 | $49.29 | +6,860 | +$34.5M |
Industry Allocation
AIR TRANSPORTATION, SCHEDULED
+11.1%
SERVICES-PREPACKAGED SOFTWARE
+7.3%
RETAIL-CATALOG & MAIL-ORDER HOUSES
+4.1%
WATER TRANSPORTATION
+3.9%
SERVICES-BUSINESS SERVICES, NEC
+3.4%
Investment Team (10)
| Name | Role | Location | |
|---|---|---|---|
| Portfolio Analyst | United States | ||
C Ceci Zhang | Senior Analyst | New York, NY , United States | |
C Craig Bench | Co-President, Candlestick Capital | New York, NY , United States | |
| Senior Analyst | United States | ||
E Eric Bierman | Portfolio Manager | New York, NY , United States | |
 | Analyst | Richmond, VA , United States | |
 | Analyst | New York, NY , United States | |
P Patrick Conway | Senior Analyst | New York, NY , United States | |
T Tito Citarella | Co President | New York, NY , United States | |
 | Analyst | New York, NY , United States |