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 |
Adobe
ADBE
|
+$341M |
| 2 |
Mastercard
MA
|
+$318M |
| 3 |
Intuit
INTU
|
+$211M |
| 4 |
Visa
V
|
+$210M |
| 5 |
Salesforce
CRM
|
+$146M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Spotify
SPOT
|
+$419M |
| 2 |
Alibaba
BABA
|
+$376M |
| 3 |
Shopify
SHOP
|
+$339M |
| 4 |
Broadcom
AVGO
|
+$317M |
| 5 |
Qualcomm
QCOM
|
+$249M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 47.6% |
| 2 | Communication Services | 24.61% |
| 3 | Consumer Discretionary | 13.68% |
| 4 | Financials | 13.48% |
| 5 | Healthcare | 0.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Procter & Gamble
PG
$342B
| $254K | ﹤0.01% |
+2,441
| New | +$238K |
|
102
Brown-Forman Class B
BF.B
$12B
| $253K | ﹤0.01% |
+4,783
| New | +$232K |
|
103
Estee Lauder
EL
$29.1B
| $233K | ﹤0.01% |
+1,409
| New | +$207K |
|
104
Mondelez International
MDLZ
$77.3B
| $231K | ﹤0.01% |
+4,632
| New | +$213K |
|
105
AB InBev
BUD
$158B
| $227K | ﹤0.01% |
+2,699
| New | +$207K |
|
|
PRTY
106
DELISTED
Party City Holdco Inc.
PRTY
| $221K | ﹤0.01% |
27,883
+5,513
| +25% | +$57.2K |
|
107
Dollar General
DG
$26.1B
| $220K | ﹤0.01% |
+1,843
| New | +$214K |
|
108
American Eagle Outfitters
AEO
$2.88B
| $216K | ﹤0.01% |
+9,709
| New | +$200K |
|
109
Avis
CAR
$5.69B
| $203K | ﹤0.01% |
5,837
-12,561
| -68% | -$376K |
|
110
JetBlue
JBLU
$1.99B
| $183K | ﹤0.01% |
+11,198
| New | +$192K |
|
|
CHS
111
DELISTED
Chicos FAS, Inc.
CHS
| $136K | ﹤0.01% |
32,033
-110,119
| -77% | -$610K |
|
112
e.l.f. Beauty
ELF
$4.51B
| $119K | ﹤0.01% |
+11,157
| New | +$99.5K |
|
113
Noodles & Co
NDLS
$91.6M
| $117K | ﹤0.01% |
2,164
+477
| +28% | +$27.5K |
|
|
TBHC
114
DELISTED
The Brand House Collective
TBHC
| $93K | ﹤0.01% |
+13,224
| New | +$130K |
|
|
ODP
115
DELISTED
ODP
ODP
| $57K | ﹤0.01% |
1,568
-15,692
| -91% | -$503K |
|
|
ASNA
116
DELISTED
Ascena Retail Group, Inc.
ASNA
| $31K | ﹤0.01% |
1,427
-2,743
| -66% | -$123K |
|
117
Advance Auto Parts
AAP
$3.27B
| – | – |
-5,451
| Closed | -$858K |
|
118
Apple
AAPL
$4.9T
| – | – |
-2,238,572
| Closed | -$88.3M |
|
119
Bloomin' Brands
BLMN
$687M
| – | – |
-14,510
| Closed | -$259K |
|
120
Caleres
CAL
$400M
| – | – |
-10,549
| Closed | -$294K |
|
121
Cracker Barrel
CBRL
$1.2B
| – | – |
-2,777
| Closed | -$444K |
|
122
Carter's
CRI
$1.42B
| – | – |
-8,448
| Closed | -$690K |
|
123
Citi Trends
CTRN
$527M
| – | – |
-10,789
| Closed | -$220K |
|
124
Dick's Sporting Goods
DKS
$18.5B
| – | – |
-23,833
| Closed | -$744K |
|
125
Darden Restaurants
DRI
$22.5B
| – | – |
-4,456
| Closed | -$445K |
|
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Philippe Laffont's Q1 2019 Portfolio in Review
As of Q1 2019, Philippe Laffont held 149 positions worth $9.03B, up 7.2% from $8.43B the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Philippe Laffont withdrew a net $1.22B in Q1 2019, closing 33 positions and reducing 37 holdings. Its most notable exit was Spotify, an estimated $419M position sold in full.
By sector, the portfolio is most concentrated in Technology at 48% of assets, up from 45% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Philippe Laffont opened a new position in MALLINCKRODT PUBLIC LIMITED COMPANY worth $28.7M.
- Philippe Laffont's largest Q1 2019 buy was MALLINCKRODT PUBLIC LIMITED COMPANY: 1,320,769 shares worth $28.7M.
- Philippe Laffont added most to Adobe in Q1 2019, an estimated $341M increase.
- Philippe Laffont's biggest Q1 2019 reduction was Alibaba, cutting an estimated $376M.
- Philippe Laffont fully exited Spotify in Q1 2019, selling an estimated $419M.
- Philippe Laffont's ten largest holdings make up 64% of its $9.03B portfolio in Q1 2019.
- Philippe Laffont opened 39 new positions and closed 33 in Q1 2019.
- Philippe Laffont's portfolio value rose 7.2% quarter-over-quarter to $9.03B.
Based on Coatue Management's 13F filing for Q1 2019, filed 15 May 2019.