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
|
+$724M |
| 2 |
Broadcom
AVGO
|
+$282M |
| 3 |
Adobe
ADBE
|
+$255M |
| 4 |
Netflix
NFLX
|
+$204M |
| 5 |
Salesforce
CRM
|
+$197M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Baidu
BIDU
|
+$236M |
| 2 |
GMCR
KEURIG GREEN MTN INC
GMCR
|
+$191M |
| 3 |
Trip.com Group
TCOM
|
+$182M |
| 4 |
LNKD
LinkedIn Corporation
LNKD
|
+$153M |
| 5 |
WFM
Whole Foods Market Inc
WFM
|
+$151M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 48.89% |
| 2 | Technology | 40.7% |
| 3 | Consumer Discretionary | 3.78% |
| 4 | Consumer Staples | 2.49% |
| 5 | Real Estate | 2.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
FNSR
26
DELISTED
Finisar Corp
FNSR
| $72.2M | 0.9% |
+3,654,526
| New | +$87.9M |
|
27
3D Systems Corp
DDD
$425M
| $54.1M | 0.67% |
+903,964
| New | +$46.4M |
|
28
SiriusXM
SIRI
$10.1B
| $38.9M | 0.48% |
1,124,302
| – | – |
|
29
eBay
EBAY
$48.3B
| $33.4M | 0.42% |
+1,585,065
| New | +$34.5M |
|
|
MLNX
30
DELISTED
Mellanox Technologies, Ltd.
MLNX
| $32.7M | 0.41% |
+937,883
| New | +$32.5M |
|
|
JOY
31
DELISTED
Joy Global Inc
JOY
| $24.6M | 0.31% |
400,000
| – | – |
|
|
VNET
32
VNET Group
VNET
$2.13B
| $19.8M | 0.25% |
+661,338
| New | +$17.4M |
|
33
lululemon athletica
LULU
$12.9B
| $15.7M | 0.2% |
+386,923
| New | +$17.6M |
|
|
NTRI
34
DELISTED
NutriSystem, Inc.
NTRI
| $10.9M | 0.14% |
634,885
| – | – |
|
|
SUNE
35
DELISTED
SUNEDISON, INC COM
SUNE
| $9.76M | 0.12% |
+432,008
| New | +$8.39M |
|
|
GMCR
36
DELISTED
KEURIG GREEN MTN INC
GMCR
| $8.89M | 0.11% |
71,363
-1,752,876
| -96% | -$191M |
|
|
NUAN
37
DELISTED
Nuance Communications, Inc.
NUAN
| $8.73M | 0.11% |
537,075
| – | – |
|
|
SVU
38
DELISTED
SUPERVALU Inc.
SVU
| $8.64M | 0.11% |
150,186
| – | – |
|
|
WUBA
39
DELISTED
58.com Inc
WUBA
| $7.7M | 0.1% |
+142,440
| New | +$6.04M |
|
|
ATML
40
DELISTED
ATMEL CORP
ATML
| $6.22M | 0.08% |
664,000
| – | – |
|
|
TRUE
41
DELISTED
TrueCar
TRUE
| $3.8M | 0.05% |
+257,110
| New | +$3.14M |
|
|
MCP
42
DELISTED
MOLYCORP INC COM STK
MCP
| $2.87M | 0.04% |
1,114,900
| – | – |
|
|
NIHD
43
DELISTED
NII HOLDINGS INC CL B
NIHD
| $395K | ﹤0.01% |
718,233
| – | – |
|
44
QuinStreet
QNST
$888M
| – | – |
-45,499
| Closed | -$302K |
|
|
45
Trip.com Group
TCOM
$27.7B
| – | – |
-7,230,598
| Closed | -$182M |
|
46
TripAdvisor
TRIP
$1.6B
| – | – |
-777,553
| Closed | -$70.4M |
|
47
Workday
WDAY
$33.4B
| – | – |
-47,903
| Closed | -$4.38M |
|
48
Yelp
YELP
$1.41B
| – | – |
-990,055
| Closed | -$76.2M |
|
|
P
49
DELISTED
Pandora Media Inc
P
| – | – |
-4,358,591
| Closed | -$132M |
|
|
WFM
50
DELISTED
Whole Foods Market Inc
WFM
| – | – |
-2,982,375
| Closed | -$151M |
|
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Philippe Laffont's Q2 2014 Portfolio in Review
As of Q2 2014, Philippe Laffont held 53 positions worth $8.03B, up 42% from $5.66B the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Philippe Laffont deployed $1.56B of net new capital in Q2 2014, opening 14 new positions and adding to 12 existing holdings. Its largest new stake was Salesforce: 3,647,826 shares worth $212M.
By sector, the portfolio is most concentrated in Communication Services at 49% of assets, down from 61% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Baidu, an estimated $236M trimmed.
- Philippe Laffont's largest Q2 2014 buy was Salesforce: 3,647,826 shares worth $212M.
- Philippe Laffont added most to Apple in Q2 2014, an estimated $724M increase.
- Philippe Laffont's biggest Q2 2014 reduction was Baidu, cutting an estimated $236M.
- Philippe Laffont fully exited Trip.com Group in Q2 2014, selling an estimated $182M.
- Philippe Laffont's ten largest holdings make up 64% of its $8.03B portfolio in Q2 2014.
- Philippe Laffont opened 14 new positions and closed 10 in Q2 2014.
- Philippe Laffont's portfolio value rose 42% quarter-over-quarter to $8.03B.
Based on Coatue Management's 13F filing for Q2 2014, filed 14 Aug 2014.