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 |
Shopify
SHOP
|
+$222M |
| 2 |
ServiceNow
NOW
|
+$170M |
| 3 |
Alibaba
BABA
|
+$131M |
| 4 |
Salesforce
CRM
|
+$94.8M |
| 5 |
Cognex
CGNX
|
+$91.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
JPMorgan Chase
JPM
|
+$231M |
| 2 |
Bank of America
BAC
|
+$208M |
| 3 |
eBay
EBAY
|
+$92.9M |
| 4 |
ZAYO
Zayo Group Holdings, Inc.
ZAYO
|
+$81.9M |
| 5 |
Liberty Global Class C
LBTYK
|
+$81.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 40.62% |
| 2 | Technology | 33.54% |
| 3 | Consumer Discretionary | 16.28% |
| 4 | Financials | 5.52% |
| 5 | Real Estate | 3.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
Liberty Global Class C
LBTYK
$3.37B
| $110M | 0.99% |
3,515,672
-2,607,994
| -43% | -$81.4M |
|
27
Liberty Global Class A
LBTYA
$3.48B
| $106M | 0.95% |
3,289,311
-2,333,479
| -42% | -$74.7M |
|
|
28
Salesforce
CRM
$129B
| $94.3M | 0.85% |
+1,088,872
| New | +$94.8M |
|
|
29
Cognex
CGNX
$10.6B
| $87.1M | 0.78% |
+2,050,970
| New | +$91.1M |
|
30
ON Semiconductor
ON
$35.1B
| $68.7M | 0.62% |
+4,896,006
| New | +$73.6M |
|
31
Twilio
TWLO
$28.1B
| $54.1M | 0.49% |
1,857,746
+1,425,085
| +329% | +$39M |
|
32
Hain Celestial
HAIN
$49.1M
| $41.8M | 0.38% |
1,076,563
| – | – |
|
33
Teradyne
TER
$58.5B
| $39.5M | 0.36% |
+1,316,856
| New | +$44.3M |
|
|
MLNX
34
DELISTED
Mellanox Technologies, Ltd.
MLNX
| $32.8M | 0.3% |
757,981
| – | – |
|
|
FIT
35
DELISTED
Fitbit, Inc. Class A common stock
FIT
| $27.9M | 0.25% |
5,252,953
| – | – |
|
36
3D Systems Corp
DDD
$423M
| $18M | 0.16% |
961,067
| – | – |
|
|
MNDT
37
DELISTED
Mandiant, Inc. Common Stock
MNDT
| $13.4M | 0.12% |
882,755
| – | – |
|
38
Stratasys
SSYS
$695M
| $10.6M | 0.1% |
456,847
| – | – |
|
39
Allegiant Air
ALGT
$2.54B
| $9.02M | 0.08% |
66,530
+40,830
| +159% | +$5.98M |
|
|
FTR
40
DELISTED
Frontier Communications Corp.
FTR
| $8.22M | 0.07% |
+472,596
| New | +$10.8M |
|
41
Nutanix
NTNX
$14.2B
| $5.93M | 0.05% |
294,550
-206,150
| -41% | -$3.6M |
|
|
CMCM
42
Cheetah Mobile
CMCM
$89.4M
| $5.51M | 0.05% |
102,161
+8,000
| +8% | +$442K |
|
|
NTRI
43
DELISTED
NutriSystem, Inc.
NTRI
| $3.45M | 0.03% |
66,300
+30,000
| +83% | +$1.55M |
|
|
ACIA
44
DELISTED
Acacia Communications Inc
ACIA
| $2.57M | 0.02% |
61,864
| – | – |
|
|
SDRL
45
DELISTED
Seadrill Limited Common Stock
SDRL
| $711K | 0.01% |
7,359
| – | – |
|
46
Illumina
ILMN
$29.8B
| – | – |
-56,163
| Closed | -$9.32M |
|
|
47
JPMorgan Chase
JPM
$930B
| – | – |
-2,629,362
| Closed | -$231M |
|
48
Under Armour Class C
UA
$2.81B
| – | – |
-459,100
| Closed | -$8.4M |
|
49
Under Armour
UAA
$2.87B
| – | – |
-1,531,200
| Closed | -$30.3M |
|
|
ZAYO
50
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| – | – |
-2,490,825
| Closed | -$81.9M |
|
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Philippe Laffont's Q2 2017 Portfolio in Review
As of Q2 2017, Philippe Laffont held 51 positions worth $11.1B, up 6.9% from $10.4B the previous quarter. Its ten largest holdings account for 57% of the portfolio.
Philippe Laffont's Q2 2017 filing shows 7 new, 7 increased, 18 reduced and 6 closed positions. Its largest new stake was Shopify: 26,257,100 shares worth $228M. The largest sale was JPMorgan Chase, an estimated $231M.
By sector, the portfolio is most concentrated in Communication Services at 41% of assets, down from 44% a quarter earlier, followed by Technology and Consumer Discretionary.
- Philippe Laffont's largest Q2 2017 buy was Shopify: 26,257,100 shares worth $228M.
- Philippe Laffont added most to Alibaba in Q2 2017, an estimated $131M increase.
- Philippe Laffont's biggest Q2 2017 reduction was Bank of America, cutting an estimated $208M.
- Philippe Laffont fully exited JPMorgan Chase in Q2 2017, selling an estimated $231M.
- Philippe Laffont's ten largest holdings make up 57% of its $11.1B portfolio in Q2 2017.
- Philippe Laffont opened 7 new positions and closed 6 in Q2 2017.
- Philippe Laffont's portfolio value rose 6.9% quarter-over-quarter to $11.1B.
Based on Coatue Management's 13F filing for Q2 2017, filed 11 Aug 2017.