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 |
PayPal
PYPL
|
+$157M |
| 2 |
SPLK
Splunk Inc
SPLK
|
+$99.5M |
| 3 |
F5
FFIV
|
+$90.4M |
| 4 |
Chipotle Mexican Grill
CMG
|
+$83.5M |
| 5 |
Electronic Arts
EA
|
+$75.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$717M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$262M |
| 3 |
AGN
Allergan plc
AGN
|
+$257M |
| 4 |
TWX
Time Warner Inc
TWX
|
+$201M |
| 5 |
PARA
Paramount Global Class B
PARA
|
+$182M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 38.04% |
| 2 | Technology | 30.79% |
| 3 | Consumer Discretionary | 15.44% |
| 4 | Real Estate | 8.37% |
| 5 | Financials | 2.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CMCM
51
Cheetah Mobile
CMCM
$89.4M
| $7.91M | 0.1% |
96,920
| – | – |
|
|
SDRL
52
DELISTED
Seadrill Limited Common Stock
SDRL
| $7.4M | 0.09% |
+8,375
| New | +$6.03M |
|
53
Cleveland-Cliffs
CLF
$6.25B
| $7.12M | 0.09% |
2,373,591
| – | – |
|
54
Trip.com Group
TCOM
$27.1B
| $6.04M | 0.08% |
+136,583
| New | +$5.71M |
|
|
P
55
Everpure Inc
P
$25B
| $2.03M | 0.03% |
148,157
| – | – |
|
56
GoPro
GPRO
$119M
| $181K | ﹤0.01% |
15,145
-2,600,102
| -99% | -$32.2M |
|
|
57
Apple
AAPL
$4.72T
| – | – |
-27,249,956
| Closed | -$717M |
|
58
Bausch Health
BHC
$1.66B
| – | – |
-1,673,007
| Closed | -$170M |
|
59
Baidu
BIDU
$36.5B
| – | – |
-641,723
| Closed | -$121M |
|
60
Energy Transfer Partners
ET
$70.3B
| – | – |
-1,581,196
| Closed | -$21.7M |
|
61
Etsy
ETSY
$7.68B
| – | – |
-331,730
| Closed | -$2.74M |
|
|
EXAS
62
DELISTED
Exact Sciences
EXAS
| – | – |
-1,130,676
| Closed | -$10.4M |
|
63
Freeport-McMoran
FCX
$91.3B
| – | – |
-2,298,992
| Closed | -$15.6M |
|
64
IBM
IBM
$195B
| – | – |
-460,341
| Closed | -$60.6M |
|
65
Micron Technology
MU
$1.12T
| – | – |
-359,888
| Closed | -$5.1M |
|
66
OneSpan
OSPN
$547M
| – | – |
-906,510
| Closed | -$15.2M |
|
|
PARA
67
DELISTED
Paramount Global Class B
PARA
| – | – |
-3,867,977
| Closed | -$182M |
|
68
SiriusXM
SIRI
$10.1B
| – | – |
-1,089,407
| Closed | -$44.3M |
|
69
Williams Companies
WMB
$92B
| – | – |
-661,348
| Closed | -$17M |
|
|
SLCA
70
DELISTED
U.S. SILICA HOLDINGS, INC.
SLCA
| – | – |
-828,810
| Closed | -$15.5M |
|
|
AGN
71
DELISTED
Allergan plc
AGN
| – | – |
-822,133
| Closed | -$257M |
|
|
CRR
72
DELISTED
Carbo Ceramics Inc.
CRR
| – | – |
-498,964
| Closed | -$8.58M |
|
|
SVU
73
DELISTED
SUPERVALU Inc.
SVU
| – | – |
-122,502
| Closed | -$5.81M |
|
|
TWX
74
DELISTED
Time Warner Inc
TWX
| – | – |
-3,103,343
| Closed | -$201M |
|
|
BTU
75
DELISTED
PEABODY ENERGY CORP COM STK NEW (DE)
BTU
| – | – |
-355,352
| Closed | -$2.73M |
|
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Philippe Laffont's Q1 2016 Portfolio in Review
As of Q1 2016, Philippe Laffont held 78 positions worth $8.01B, down 21% from $10.1B the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Philippe Laffont withdrew a net $1.8B in Q1 2016, closing 22 positions and reducing 15 holdings. Its most notable exit was Apple, an estimated $717M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 38% of assets, down from 41% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Philippe Laffont opened a new position in PayPal worth $167M.
- Philippe Laffont's largest Q1 2016 buy was PayPal: 4,338,085 shares worth $167M.
- Philippe Laffont added most to Electronic Arts in Q1 2016, an estimated $75.3M increase.
- Philippe Laffont's biggest Q1 2016 reduction was Alphabet (Google) Class C, cutting an estimated $262M.
- Philippe Laffont fully exited Apple in Q1 2016, selling an estimated $717M.
- Philippe Laffont's ten largest holdings make up 62% of its $8.01B portfolio in Q1 2016.
- Philippe Laffont opened 22 new positions and closed 22 in Q1 2016.
- Philippe Laffont's portfolio value fell 21% quarter-over-quarter to $8.01B.
Based on Coatue Management's 13F filing for Q1 2016, filed 16 May 2016.