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 |
Spotify
SPOT
|
+$347M |
| 2 |
Intel
INTC
|
+$319M |
| 3 |
Adobe
ADBE
|
+$257M |
| 4 |
Microsoft
MSFT
|
+$252M |
| 5 |
ServiceNow
NOW
|
+$196M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Micron Technology
MU
|
+$499M |
| 2 |
TWTR
Twitter, Inc.
TWTR
|
+$341M |
| 3 |
Apple
AAPL
|
+$324M |
| 4 |
Snap
SNAP
|
+$323M |
| 5 |
Broadcom
AVGO
|
+$297M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 42.05% |
| 2 | Technology | 36.05% |
| 3 | Consumer Discretionary | 13.89% |
| 4 | Financials | 4.58% |
| 5 | Consumer Staples | 2.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Shutterstock
SSTK
$212M
| $88K | ﹤0.01% |
1,858
-16,418
| -90% | -$781K |
|
|
FTSV
102
DELISTED
Forty Seven, Inc. Common Stock
FTSV
| $80K | ﹤0.01% |
+5,000
| New | +$77.6K |
|
|
CRCM
103
DELISTED
CARE.COM, INC.
CRCM
| $78K | ﹤0.01% |
+3,720
| New | +$69.6K |
|
|
NTGN
104
DELISTED
Neon Therapeutics, Inc. Common Stock
NTGN
| $63K | ﹤0.01% |
+5,000
| New | +$68.5K |
|
105
Kroger
KR
$34.2B
| $60K | ﹤0.01% |
2,090
-2,593
| -55% | -$65.2K |
|
|
DENN
106
DELISTED
Denny's
DENN
| $37K | ﹤0.01% |
+2,328
| New | +$37K |
|
|
SHOE
107
Shoe Station Group
SHOE
$388M
| $25K | ﹤0.01% |
+1,536
| New | +$21.4K |
|
108
American Airlines Group
AAL
$8.96B
| – | – |
-7,941
| Closed | -$413K |
|
109
Booking.com
BKNG
$134B
| – | – |
-1,875
| Closed | -$156K |
|
110
Bloomin' Brands
BLMN
$701M
| – | – |
-36,589
| Closed | -$888K |
|
111
Boot Barn
BOOT
$4.48B
| – | – |
-45,556
| Closed | -$808K |
|
112
Burlington
BURL
$21.4B
| – | – |
-2,375
| Closed | -$317K |
|
113
Cheesecake Factory
CAKE
$4.2B
| – | – |
-3,256
| Closed | -$157K |
|
114
Avis
CAR
$5.62B
| – | – |
-18,793
| Closed | -$880K |
|
115
Cracker Barrel
CBRL
$1.16B
| – | – |
-323
| Closed | -$52K |
|
116
Cognex
CGNX
$10.6B
| – | – |
-2,031,260
| Closed | -$106M |
|
117
CVS Health
CVS
$136B
| – | – |
-5,539
| Closed | -$345K |
|
118
Delta Air Lines
DAL
$53.9B
| – | – |
-320
| Closed | -$17K |
|
119
Dick's Sporting Goods
DKS
$18.3B
| – | – |
-25,817
| Closed | -$905K |
|
120
Domino's
DPZ
$10.7B
| – | – |
-3,809
| Closed | -$890K |
|
121
Darden Restaurants
DRI
$22.2B
| – | – |
-1,526
| Closed | -$130K |
|
122
Five Below
FIVE
$11.1B
| – | – |
-12,653
| Closed | -$928K |
|
|
FL
123
DELISTED
Foot Locker
FL
| – | – |
-975
| Closed | -$44K |
|
124
Fossil Group
FOSL
$236M
| – | – |
-70,687
| Closed | -$897K |
|
125
Cedar Fair
FUN
$1.76B
| – | – |
-6,117
| Closed | -$390K |
|
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Philippe Laffont's Q2 2018 Portfolio in Review
As of Q2 2018, Philippe Laffont held 165 positions worth $11.9B, down 1.7% from $12.1B the previous quarter. Its ten largest holdings account for 67% of the portfolio.
Philippe Laffont withdrew a net $1.59B in Q2 2018, closing 58 positions and reducing 30 holdings. Its most notable exit was Snap, an estimated $323M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 42% of assets, up from 40% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Philippe Laffont opened a new position in Spotify worth $365M.
- Philippe Laffont's largest Q2 2018 buy was Spotify: 2,166,977 shares worth $365M.
- Philippe Laffont added most to Adobe in Q2 2018, an estimated $257M increase.
- Philippe Laffont's biggest Q2 2018 reduction was Micron Technology, cutting an estimated $499M.
- Philippe Laffont fully exited Snap in Q2 2018, selling an estimated $323M.
- Philippe Laffont's ten largest holdings make up 67% of its $11.9B portfolio in Q2 2018.
- Philippe Laffont opened 40 new positions and closed 58 in Q2 2018.
- Philippe Laffont's portfolio value fell 1.7% quarter-over-quarter to $11.9B.
Based on Coatue Management's 13F filing for Q2 2018, filed 14 Aug 2018.