Philippe Laffont Coatue Management
Philippe Laffont is the founder of Coatue Management, a technology-focused hedge fund that has grown into one of the most prominent investors in the sector. A protégé of Julian Robertson, he is one of the so-called “Tiger Cubs” who launched their own funds after working at Tiger Management. Laffont’s investment approach centers on deep research into technology, media, and telecommunications companies, spanning both public markets and private venture investments. He is known for backing innovative, high-growth businesses and for his early conviction in transformative technology trends.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$564M |
| 2 |
Amazon
AMZN
|
+$237M |
| 3 |
P
Pandora Media Inc
P
|
+$126M |
| 4 |
Baidu
BIDU
|
+$103M |
| 5 |
GAP
The Gap Inc
GAP
|
+$76.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Equinix
EQIX
|
+$822M |
| 2 |
Intuitive Surgical
ISRG
|
+$159M |
| 3 |
RHT
Red Hat Inc
RHT
|
+$149M |
| 4 |
TWX
Time Warner Inc
TWX
|
+$122M |
| 5 |
Capri Holdings
CPRI
|
+$88.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 54.37% |
| 2 | Consumer Discretionary | 17.73% |
| 3 | Technology | 11.99% |
| 4 | Real Estate | 7.28% |
| 5 | Consumer Staples | 4.56% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Tesla
TSLA
$1.26T
| $103M | 1% |
10,229,040
-475,605
| -4% | -$4.86M |
|
|
GAP
27
The Gap Inc
GAP
$6.8B
| $76.5M | 0.75% |
+1,956,337
| New | +$76.6M |
|
28
Best Buy
BBY
$17.8B
| $70.2M | 0.69% |
1,759,469
| – | – |
|
|
YOKU
29
DELISTED
YOUKU TUDOU INC.(CAYMAN ISLS)
YOKU
| $66.3M | 0.65% |
+2,187,818
| New | +$62.8M |
|
|
SVU
30
DELISTED
SUPERVALU Inc.
SVU
| $54.7M | 0.53% |
1,071,264
| – | – |
|
31
News Corp Class A
NWSA
$14.3B
| $48.6M | 0.48% |
2,698,604
| – | – |
|
32
BlackBerry
BB
$5.06B
| $45.8M | 0.45% |
6,149,438
| – | – |
|
|
RAX
33
DELISTED
Rackspace Hosting Inc
RAX
| $33.4M | 0.33% |
853,264
-111,494
| -12% | -$4.85M |
|
|
DNY
34
DELISTED
DONNELLEY R R & SONS CO
DNY
| $30M | 0.29% |
1,479,405
| – | – |
|
|
NUAN
35
DELISTED
Nuance Communications, Inc.
NUAN
| $28M | 0.27% |
2,131,237
| – | – |
|
|
MLNX
36
DELISTED
Mellanox Technologies, Ltd.
MLNX
| $24.4M | 0.24% |
+610,501
| New | +$23.3M |
|
|
ATML
37
DELISTED
ATMEL CORP
ATML
| $23.3M | 0.23% |
2,978,198
| – | – |
|
|
PLCM
38
DELISTED
POLYCOM INC
PLCM
| $18.3M | 0.18% |
1,632,196
-417,301
| -20% | -$4.5M |
|
|
LVLT
39
DELISTED
Level 3 Communications Inc
LVLT
| $16.9M | 0.17% |
509,122
| – | – |
|
40
Logitech
LOGI
$14.8B
| $15.4M | 0.15% |
1,125,376
| – | – |
|
41
Workday
WDAY
$31.6B
| $8.68M | 0.08% |
+104,390
| New | +$8.24M |
|
42
Yelp
YELP
$1.35B
| $7.15M | 0.07% |
+103,730
| New | +$6.87M |
|
|
FIO
43
DELISTED
FUSION-IO INC COM
FIO
| $6.72M | 0.07% |
754,305
| – | – |
|
|
NIHD
44
DELISTED
NII HOLDINGS INC CL B
NIHD
| $6.14M | 0.06% |
2,231,197
-1,184,500
| -35% | -$4.37M |
|
|
NTRI
45
DELISTED
NutriSystem, Inc.
NTRI
| $4.82M | 0.05% |
293,017
-341,885
| -54% | -$5.98M |
|
46
QuinStreet
QNST
$861M
| $4.58M | 0.04% |
526,593
| – | – |
|
|
JOY
47
DELISTED
Joy Global Inc
JOY
| $4.03M | 0.04% |
68,900
-400,000
| -85% | -$22M |
|
|
MCP
48
DELISTED
MOLYCORP INC COM STK
MCP
| $2.63M | 0.03% |
468,605
-646,900
| -58% | -$3.41M |
|
49
American International
AIG
$41.4B
| – | – |
-92,927
| Closed | -$4.52M |
|
|
50
Capri Holdings
CPRI
$1.78B
| – | – |
-1,183,191
| Closed | -$88.2M |
|
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Philippe Laffont's Q4 2013 Portfolio in Review
As of Q4 2013, Philippe Laffont held 56 positions worth $10.2B, up 4.1% from $9.82B the previous quarter. Its ten largest holdings account for 55% of the portfolio.
Philippe Laffont withdrew a net $413M in Q4 2013, closing 8 positions and reducing 23 holdings. Its most notable exit was Equinix, an estimated $822M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 54% of assets, up from 54% a quarter earlier, followed by Consumer Discretionary and Technology.
Against the trend, Philippe Laffont opened a new position in The Gap Inc worth $76.5M.
- Philippe Laffont's largest Q4 2013 buy was The Gap Inc: 1,956,337 shares worth $76.5M.
- Philippe Laffont added most to Apple in Q4 2013, an estimated $564M increase.
- Philippe Laffont's biggest Q4 2013 reduction was Time Warner Inc, cutting an estimated $122M.
- Philippe Laffont fully exited Equinix in Q4 2013, selling an estimated $822M.
- Philippe Laffont's ten largest holdings make up 55% of its $10.2B portfolio in Q4 2013.
- Philippe Laffont opened 5 new positions and closed 8 in Q4 2013.
- Philippe Laffont's portfolio value rose 4.1% quarter-over-quarter to $10.2B.
Based on Coatue Management's 13F filing for Q4 2013, filed 14 Feb 2014.