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 |
Global Payments
GPN
|
+$363M |
| 2 |
Snap
SNAP
|
+$168M |
| 3 |
Sea Limited
SE
|
+$147M |
| 4 |
TWTR
Twitter, Inc.
TWTR
|
+$133M |
| 5 |
Alibaba
BABA
|
+$130M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Salesforce
CRM
|
+$239M |
| 2 |
Intuit
INTU
|
+$220M |
| 3 |
Adobe
ADBE
|
+$196M |
| 4 |
Microsoft
MSFT
|
+$169M |
| 5 |
Twilio
TWLO
|
+$110M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 40.13% |
| 2 | Communication Services | 22.95% |
| 3 | Consumer Discretionary | 13.08% |
| 4 | Financials | 11.56% |
| 5 | Industrials | 5.67% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
Coca-Cola
KO
$349B
| $769K | 0.01% |
+14,131
| New | +$757K |
|
177
AutoZone
AZO
$47.7B
| $742K | 0.01% |
+684
| New | +$767K |
|
|
FTR
178
DELISTED
Frontier Communications Corp.
FTR
| $736K | 0.01% |
848,516
| – | – |
|
179
Duluth Holdings
DLTH
$160M
| $722K | 0.01% |
+85,136
| New | +$932K |
|
180
Costco
COST
$411B
| $721K | 0.01% |
2,504
+1,420
| +131% | +$400K |
|
181
Cal-Maine
CALM
$4.18B
| $714K | 0.01% |
+17,862
| New | +$742K |
|
|
GRMN
182
Garmin
GRMN
$46.3B
| $709K | 0.01% |
+8,366
| New | +$675K |
|
183
Fossil Group
FOSL
$236M
| $704K | 0.01% |
56,262
+42,654
| +313% | +$483K |
|
184
The RealReal
REAL
$1.37B
| $688K | 0.01% |
+30,773
| New | +$618K |
|
185
Upbound Group
UPBD
$1.23B
| $686K | 0.01% |
+26,604
| New | +$699K |
|
186
O'Reilly Automotive
ORLY
$71.4B
| $624K | 0.01% |
+23,475
| New | +$606K |
|
187
Boston Beer
SAM
$1.82B
| $620K | 0.01% |
1,703
-2,540
| -60% | -$998K |
|
|
TCS
188
DELISTED
THE CONTAINER STORE GROUP, INC.
TCS
| $619K | 0.01% |
+9,333
| New | +$758K |
|
189
Kimberly-Clark
KMB
$35.6B
| $612K | 0.01% |
4,307
-568
| -12% | -$78.1K |
|
190
Sportsman's Warehouse
SPWH
$44.9M
| $590K | 0.01% |
113,853
+79,944
| +236% | +$344K |
|
|
MIK
191
DELISTED
Michaels Stores, Inc
MIK
| $586K | 0.01% |
59,814
-236,461
| -80% | -$1.77M |
|
|
EXPR
192
DELISTED
Express, Inc.
EXPR
| $576K | ﹤0.01% |
+8,375
| New | +$411K |
|
193
Energizer
ENR
$1.41B
| $551K | ﹤0.01% |
+12,632
| New | +$503K |
|
|
TWNK
194
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
| $529K | ﹤0.01% |
37,797
-58,635
| -61% | -$831K |
|
195
Dropbox
DBX
$6.63B
| $517K | ﹤0.01% |
+25,639
| New | +$546K |
|
196
Rollins
ROL
$19B
| $488K | ﹤0.01% |
+21,470
| New | +$493K |
|
197
Simply Good Foods
SMPL
$909M
| $480K | ﹤0.01% |
16,574
-39,383
| -70% | -$1.1M |
|
198
Brown-Forman Class B
BF.B
$11.8B
| $427K | ﹤0.01% |
6,799
+923
| +16% | +$53.9K |
|
|
MNK
199
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
| $396K | ﹤0.01% |
164,356
-606,837
| -79% | -$3.1M |
|
200
Southwest Airlines
LUV
$21.9B
| $377K | ﹤0.01% |
+6,978
| New | +$365K |
|
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Philippe Laffont's Q3 2019 Portfolio in Review
As of Q3 2019, Philippe Laffont held 267 positions worth $11.7B, down 1.3% from $11.8B the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Philippe Laffont deployed $598M of net new capital in Q3 2019, opening 103 new positions and adding to 71 existing holdings. Its largest new stake was Snap: 10,513,250 shares worth $166M.
By sector, the portfolio is most concentrated in Technology at 40% of assets, down from 49% a quarter earlier, followed by Communication Services and Consumer Discretionary.
On the sell side, the largest reduction was Salesforce, an estimated $239M trimmed.
- Philippe Laffont's largest Q3 2019 buy was Snap: 10,513,250 shares worth $166M.
- Philippe Laffont added most to Global Payments in Q3 2019, an estimated $363M increase.
- Philippe Laffont's biggest Q3 2019 reduction was Salesforce, cutting an estimated $239M.
- Philippe Laffont fully exited Tableau Software, Inc. in Q3 2019, selling an estimated $67.5M.
- Philippe Laffont's ten largest holdings make up 53% of its $11.7B portfolio in Q3 2019.
- Philippe Laffont opened 103 new positions and closed 52 in Q3 2019.
- Philippe Laffont's portfolio value fell 1.3% quarter-over-quarter to $11.7B.
Based on Coatue Management's 13F filing for Q3 2019, filed 14 Nov 2019.