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 |
Alibaba
BABA
|
+$327M |
| 2 |
Amazon
AMZN
|
+$323M |
| 3 |
PLAN
Anaplan, Inc.
PLAN
|
+$224M |
| 4 |
Spotify
SPOT
|
+$214M |
| 5 |
Mastercard
MA
|
+$125M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Roku
ROKU
|
+$247M |
| 2 |
Qualcomm
QCOM
|
+$223M |
| 3 |
PayPal
PYPL
|
+$173M |
| 4 |
Nike
NKE
|
+$101M |
| 5 |
Chipotle Mexican Grill
CMG
|
+$70.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 45.31% |
| 2 | Communication Services | 30.36% |
| 3 | Consumer Discretionary | 17.34% |
| 4 | Financials | 6.84% |
| 5 | Industrials | 0.09% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
J. Jill
JILL
$243M
| – | – |
-23,507
| Closed | -$609K |
|
|
JWN
127
DELISTED
Nordstrom
JWN
| – | – |
-9,185
| Closed | -$550K |
|
|
TBHC
128
DELISTED
The Brand House Collective
TBHC
| – | – |
-80,514
| Closed | -$812K |
|
129
La-Z-Boy
LZB
$1.56B
| – | – |
-14,428
| Closed | -$456K |
|
130
Macy's
M
$6.03B
| – | – |
-12,672
| Closed | -$440K |
|
131
McDonald's
MCD
$187B
| – | – |
-3,849
| Closed | -$644K |
|
132
Medifast
MED
$104M
| – | – |
-4,196
| Closed | -$930K |
|
133
Movado Group
MOV
$795M
| – | – |
-10,771
| Closed | -$452K |
|
134
Murphy USA
MUSA
$11.4B
| – | – |
-6,203
| Closed | -$530K |
|
135
Vitamin Cottage Natural Grocers
NGVC
$673M
| – | – |
-13,194
| Closed | -$223K |
|
136
Pinduoduo
PDD
$118B
| – | – |
-1,100,000
| Closed | -$28.9M |
|
137
Papa John's
PZZA
$995M
| – | – |
-7,392
| Closed | -$379K |
|
138
RH
RH
$3.18B
| – | – |
-5,978
| Closed | -$783K |
|
|
139
Roku
ROKU
$21.1B
| – | – |
-3,385,800
| Closed | -$247M |
|
140
Steven Madden
SHOO
$3.05B
| – | – |
-18,627
| Closed | -$657K |
|
141
Signet Jewelers
SIG
$3.43B
| – | – |
-14,283
| Closed | -$942K |
|
142
Stratasys
SSYS
$692M
| – | – |
-456,847
| Closed | -$10.6M |
|
143
TAL Education Group
TAL
$5.75B
| – | – |
-842,238
| Closed | -$21.7M |
|
144
Teradyne
TER
$55.8B
| – | – |
-183,253
| Closed | -$6.78M |
|
145
Wayfair
W
$11B
| – | – |
-3,280
| Closed | -$484K |
|
146
Western Digital
WDC
$184B
| – | – |
-1,027,736
| Closed | -$45.5M |
|
147
United Parks & Resorts
PRKS
$2.09B
| – | – |
-30,810
| Closed | -$968K |
|
|
BIG
148
DELISTED
Big Lots, Inc.
BIG
| – | – |
-9,934
| Closed | -$415K |
|
|
CONN
149
DELISTED
Conn's Inc.
CONN
| – | – |
-6,293
| Closed | -$223K |
|
|
EXPR
150
DELISTED
Express, Inc.
EXPR
| – | – |
-835
| Closed | -$185K |
|
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Philippe Laffont's Q4 2018 Portfolio in Review
As of Q4 2018, Philippe Laffont held 157 positions worth $8.43B, down 12% from $9.54B the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Philippe Laffont deployed $755M of net new capital in Q4 2018, opening 47 new positions and adding to 35 existing holdings. Its largest new stake was Anaplan, Inc.: 9,064,632 shares worth $241M.
By sector, the portfolio is most concentrated in Technology at 45% of assets, down from 46% a quarter earlier, followed by Communication Services and Consumer Discretionary.
On the sell side, the largest reduction was Qualcomm, an estimated $223M trimmed.
- Philippe Laffont's largest Q4 2018 buy was Anaplan, Inc.: 9,064,632 shares worth $241M.
- Philippe Laffont added most to Alibaba in Q4 2018, an estimated $327M increase.
- Philippe Laffont's biggest Q4 2018 reduction was Qualcomm, cutting an estimated $223M.
- Philippe Laffont fully exited Roku in Q4 2018, selling an estimated $247M.
- Philippe Laffont's ten largest holdings make up 64% of its $8.43B portfolio in Q4 2018.
- Philippe Laffont opened 47 new positions and closed 47 in Q4 2018.
- Philippe Laffont's portfolio value fell 12% quarter-over-quarter to $8.43B.
Based on Coatue Management's 13F filing for Q4 2018, filed 14 Feb 2019.