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 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$284M |
| 2 |
Bank of America
BAC
|
+$283M |
| 3 |
NVIDIA
NVDA
|
+$193M |
| 4 |
JPMorgan Chase
JPM
|
+$143M |
| 5 |
Walt Disney
DIS
|
+$142M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$375M |
| 2 |
Netflix
NFLX
|
+$214M |
| 3 |
Intel
INTC
|
+$165M |
| 4 |
Thermo Fisher Scientific
TMO
|
+$78M |
| 5 |
Illumina
ILMN
|
+$68.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 40.57% |
| 2 | Technology | 25.26% |
| 3 | Consumer Discretionary | 11.46% |
| 4 | Financials | 8.76% |
| 5 | Real Estate | 5.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ZAYO
26
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $82.1M | 0.97% |
2,497,902
+317,821
| +15% | +$10.4M |
|
27
Hain Celestial
HAIN
$49M
| $80.2M | 0.95% |
2,055,269
-93,316
| -4% | -$3.5M |
|
|
FIT
28
DELISTED
Fitbit, Inc. Class A common stock
FIT
| $60.5M | 0.72% |
8,266,726
+5,934,579
| +254% | +$60.8M |
|
|
SPLK
29
DELISTED
Splunk Inc
SPLK
| $56.4M | 0.67% |
1,101,790
| – | – |
|
|
MBLY
30
DELISTED
Mobileye N.V.
MBLY
| $48.3M | 0.57% |
1,268,030
+272,295
| +27% | +$10.2M |
|
31
LendingTree
TREE
$575M
| $47.7M | 0.57% |
470,940
| – | – |
|
32
Ambarella
AMBA
$3B
| $46.9M | 0.56% |
866,400
+59,863
| +7% | +$3.61M |
|
33
Cal-Maine
CALM
$4.24B
| $37.1M | 0.44% |
840,934
+440,332
| +110% | +$17.5M |
|
|
HTZ
34
DELISTED
Hertz Global Holdings, Inc.
HTZ
| $35.4M | 0.42% |
+1,890,124
| New | +$47.3M |
|
|
AKRX
35
DELISTED
Akorn Inc
AKRX
| $31.3M | 0.37% |
+1,433,165
| New | +$33M |
|
|
MLNX
36
DELISTED
Mellanox Technologies, Ltd.
MLNX
| $28.8M | 0.34% |
+704,638
| New | +$29.8M |
|
37
Allegiant Air
ALGT
$2.65B
| $26.9M | 0.32% |
161,372
| – | – |
|
38
Wayfair
W
$11.1B
| $25.6M | 0.3% |
730,382
-226,744
| -24% | -$8.15M |
|
|
LCI
39
DELISTED
Lannett Company, Inc.
LCI
| $24.9M | 0.29% |
281,812
-113,386
| -29% | -$10.5M |
|
|
NTRI
40
DELISTED
NutriSystem, Inc.
NTRI
| $23.9M | 0.28% |
688,755
+305,458
| +80% | +$10.3M |
|
|
DATA
41
DELISTED
Tableau Software, Inc.
DATA
| $21M | 0.25% |
498,835
| – | – |
|
|
JOY
42
DELISTED
Joy Global Inc
JOY
| $19.1M | 0.23% |
682,373
| – | – |
|
|
IMPV
43
DELISTED
Imperva, Inc.
IMPV
| $18.4M | 0.22% |
478,601
| – | – |
|
44
Box
BOX
$4.04B
| $15.6M | 0.18% |
1,124,614
-910,634
| -45% | -$13.5M |
|
45
Synaptics
SYNA
$4.47B
| $14.2M | 0.17% |
265,578
| – | – |
|
46
Nutanix
NTNX
$14.6B
| $13.3M | 0.16% |
+500,700
| New | +$14.9M |
|
47
Stratasys
SSYS
$705M
| $12.6M | 0.15% |
761,721
| – | – |
|
48
Twilio
TWLO
$28.7B
| $12.5M | 0.15% |
432,661
-92,000
| -18% | -$3.45M |
|
49
Match Group
MTCH
$8.98B
| $12.5M | 0.15% |
729,318
| – | – |
|
|
CMCM
50
Cheetah Mobile
CMCM
$89.4M
| $12M | 0.14% |
250,863
-63,356
| -20% | -$3.36M |
|
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Philippe Laffont's Q4 2016 Portfolio in Review
As of Q4 2016, Philippe Laffont held 60 positions worth $8.44B, up 3.5% from $8.15B the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Philippe Laffont deployed $364M of net new capital in Q4 2016, opening 10 new positions and adding to 13 existing holdings. Its largest new stake was State Street Financial Select Sector SPDR ETF: 13,257,244 shares worth $308M.
By sector, the portfolio is most concentrated in Communication Services at 41% of assets, down from 45% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Apple, an estimated $375M trimmed.
- Philippe Laffont's largest Q4 2016 buy was State Street Financial Select Sector SPDR ETF: 13,257,244 shares worth $308M.
- Philippe Laffont added most to NVIDIA in Q4 2016, an estimated $193M increase.
- Philippe Laffont's biggest Q4 2016 reduction was Apple, cutting an estimated $375M.
- Philippe Laffont fully exited Intel in Q4 2016, selling an estimated $165M.
- Philippe Laffont's ten largest holdings make up 53% of its $8.44B portfolio in Q4 2016.
- Philippe Laffont opened 10 new positions and closed 4 in Q4 2016.
- Philippe Laffont's portfolio value rose 3.5% quarter-over-quarter to $8.44B.
Based on Coatue Management's 13F filing for Q4 2016, filed 13 Feb 2017.