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 |
Micron Technology
MU
|
+$283M |
| 2 |
Netflix
NFLX
|
+$191M |
| 3 |
Broadcom
AVGO
|
+$179M |
| 4 |
Liberty Global Class C
LBTYK
|
+$171M |
| 5 |
Trip.com Group
TCOM
|
+$166M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$682M |
| 2 |
Amazon
AMZN
|
+$431M |
| 3 |
PARA
Paramount Global Class B
PARA
|
+$422M |
| 4 |
Crown Castle
CCI
|
+$371M |
| 5 |
TWX
Time Warner Inc
TWX
|
+$357M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 60.92% |
| 2 | Technology | 15.14% |
| 3 | Consumer Discretionary | 9.65% |
| 4 | Consumer Staples | 6.21% |
| 5 | Real Estate | 3.94% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Yelp
YELP
$1.35B
| $76.2M | 1.35% |
990,055
+886,325
| +854% | +$74.9M |
|
27
TripAdvisor
TRIP
$1.57B
| $70.4M | 1.25% |
777,553
-3,298,505
| -81% | -$301M |
|
28
SiriusXM
SIRI
$10.1B
| $36M | 0.64% |
1,124,302
-2,926,685
| -72% | -$103M |
|
|
JOY
29
DELISTED
Joy Global Inc
JOY
| $23.2M | 0.41% |
400,000
+331,100
| +481% | +$18.4M |
|
|
NTRI
30
DELISTED
NutriSystem, Inc.
NTRI
| $9.57M | 0.17% |
634,885
+341,868
| +117% | +$5.21M |
|
|
NUAN
31
DELISTED
Nuance Communications, Inc.
NUAN
| $7.98M | 0.14% |
537,075
-1,594,162
| -75% | -$21.4M |
|
|
SVU
32
DELISTED
SUPERVALU Inc.
SVU
| $7.19M | 0.13% |
150,186
-921,078
| -86% | -$41.1M |
|
|
KATE
33
DELISTED
Kate Spade & Company
KATE
| $6.71M | 0.12% |
+180,833
| New | +$5.98M |
|
|
ATML
34
DELISTED
ATMEL CORP
ATML
| $5.55M | 0.1% |
664,000
-2,314,198
| -78% | -$19M |
|
|
FIO
35
DELISTED
FUSION-IO INC COM
FIO
| $5.37M | 0.09% |
510,000
-244,305
| -32% | -$2.59M |
|
|
MCP
36
DELISTED
MOLYCORP INC COM STK
MCP
| $5.23M | 0.09% |
1,114,900
+646,295
| +138% | +$3.33M |
|
37
Workday
WDAY
$31.6B
| $4.38M | 0.08% |
47,903
-56,487
| -54% | -$5.38M |
|
|
NIHD
38
DELISTED
NII HOLDINGS INC CL B
NIHD
| $855K | 0.02% |
718,233
-1,512,964
| -68% | -$3.35M |
|
39
QuinStreet
QNST
$861M
| $302K | 0.01% |
45,499
-481,094
| -91% | -$3.56M |
|
40
BlackBerry
BB
$5.06B
| – | – |
-6,149,438
| Closed | -$45.8M |
|
41
Bath & Body Works
BBWI
$3.9B
| – | – |
-5,449,658
| Closed | -$272M |
|
42
Best Buy
BBY
$17.8B
| – | – |
-1,759,469
| Closed | -$70.2M |
|
|
43
Crown Castle
CCI
$32.6B
| – | – |
-5,057,500
| Closed | -$371M |
|
44
Logitech
LOGI
$14.8B
| – | – |
-1,125,376
| Closed | -$15.4M |
|
45
News Corp Class A
NWSA
$14.3B
| – | – |
-2,698,604
| Closed | -$48.6M |
|
46
Tesla
TSLA
$1.26T
| – | – |
-10,229,040
| Closed | -$103M |
|
47
VeriSign
VRSN
$23.8B
| – | – |
-3,074,499
| Closed | -$184M |
|
|
NBIS
48
Nebius Group N.V.
NBIS
$56.1B
| – | – |
-7,072,119
| Closed | -$305M |
|
|
GAP
49
The Gap Inc
GAP
$6.8B
| – | – |
-1,956,337
| Closed | -$76.5M |
|
|
MLNX
50
DELISTED
Mellanox Technologies, Ltd.
MLNX
| – | – |
-610,501
| Closed | -$24.4M |
|
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Philippe Laffont's Q1 2014 Portfolio in Review
As of Q1 2014, Philippe Laffont held 55 positions worth $5.66B, down 45% from $10.2B the previous quarter. Its ten largest holdings account for 58% of the portfolio.
Philippe Laffont withdrew a net $4.41B in Q1 2014, closing 16 positions and reducing 24 holdings. Its most notable exit was Crown Castle, an estimated $371M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 61% of assets, up from 54% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Philippe Laffont opened a new position in Micron Technology worth $282M.
- Philippe Laffont's largest Q1 2014 buy was Micron Technology: 11,913,365 shares worth $282M.
- Philippe Laffont added most to Netflix in Q1 2014, an estimated $191M increase.
- Philippe Laffont's biggest Q1 2014 reduction was Apple, cutting an estimated $682M.
- Philippe Laffont fully exited Crown Castle in Q1 2014, selling an estimated $371M.
- Philippe Laffont's ten largest holdings make up 58% of its $5.66B portfolio in Q1 2014.
- Philippe Laffont opened 7 new positions and closed 16 in Q1 2014.
- Philippe Laffont's portfolio value fell 45% quarter-over-quarter to $5.66B.
Based on Coatue Management's 13F filing for Q1 2014, filed 15 May 2014.