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 |
Apple
AAPL
|
+$724M |
| 2 |
Broadcom
AVGO
|
+$282M |
| 3 |
Adobe
ADBE
|
+$255M |
| 4 |
Netflix
NFLX
|
+$204M |
| 5 |
Salesforce
CRM
|
+$197M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Baidu
BIDU
|
+$236M |
| 2 |
GMCR
KEURIG GREEN MTN INC
GMCR
|
+$191M |
| 3 |
Trip.com Group
TCOM
|
+$182M |
| 4 |
LNKD
LinkedIn Corporation
LNKD
|
+$153M |
| 5 |
WFM
Whole Foods Market Inc
WFM
|
+$151M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 48.99% |
| 2 | Technology | 40.7% |
| 3 | Consumer Discretionary | 3.78% |
| 4 | Consumer Staples | 2.6% |
| 5 | Real Estate | 2.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Apple
AAPL
$5.02T
| $938M | 11.68% |
40,385,576
+34,024,256
| +535% | +$724M |
2013 Q2
4 quarters
|
|
|
2
Netflix
NFLX
$273B
| $918M | 11.43% |
145,873,700
+37,778,440
| +35% | +$204M |
2013 Q2
4 quarters
|
|
3
Micron Technology
MU
$743B
| $533M | 6.64% |
16,174,968
+4,261,603
| +36% | +$116M |
2014 Q1
1 quarter
|
|
|
4
Broadcom
AVGO
$1.39T
| $523M | 6.52% |
72,623,510
+42,038,530
| +137% | +$282M |
2014 Q1
1 quarter
|
|
5
Charter Communications
CHTR
$14.4B
| $432M | 5.38% |
2,726,229
+1,345,818
| +97% | +$186M |
2013 Q2
4 quarters
|
|
6
Meta Platforms (Facebook)
META
$1.55T
| $395M | 4.92% |
5,874,387
-442,414
| -7% | -$27.2M |
2013 Q3
3 quarters
|
|
|
7
Adobe
ADBE
$95.9B
| $382M | 4.76% |
5,278,098
+3,946,525
| +296% | +$255M |
2014 Q1
1 quarter
|
|
|
TWX
8
DELISTED
Time Warner Inc
TWX
| $369M | 4.6% |
5,259,018
+360,159
| +7% | +$23.7M |
2013 Q2
4 quarters
|
|
9
DELISTED
Paramount Global Class B
PARA
| $365M | 4.55% |
5,876,245
-882,222
| -13% | -$52.5M |
2013 Q2
4 quarters
|
|
10
Liberty Global Class A
LBTYA
$3.31B
| $282M | 3.51% |
7,732,220
+4,629,419
| +149% | +$162M |
2013 Q2
4 quarters
|
|
|
TFCFA
11
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $272M | 3.39% |
7,746,513
+2,711,059
| +54% | +$92.2M |
2013 Q3
3 quarters
|
|
|
12
Baidu
BIDU
$27.1B
| $264M | 3.29% |
1,414,404
-1,439,359
| -50% | -$236M |
2013 Q2
4 quarters
|
|
13
Liberty Global Class C
LBTYK
$3.25B
| $260M | 3.24% |
7,590,811
+2,482,077
| +49% | +$82.1M |
2014 Q1
1 quarter
|
|
|
14
Salesforce
CRM
$183B
| $212M | 2.64% |
+3,647,826
| New | +$197M |
2014 Q2
0 quarters
|
|
15
Akamai
AKAM
$11.2B
| $206M | 2.57% |
+3,378,479
| New | +$188M |
2014 Q2
0 quarters
|
|
16
Hain Celestial
HAIN
$12.4M
| $200M | 2.49% |
4,511,740
+133,250
| +3% | +$5.94M |
2013 Q2
4 quarters
|
|
17
Applied Materials
AMAT
$253B
| $195M | 2.43% |
+8,667,985
| New | +$177M |
2014 Q2
0 quarters
|
|
18
American Tower
AMT
$90B
| $173M | 2.16% |
1,924,388
-795,045
| -29% | -$68.8M |
2013 Q2
4 quarters
|
|
19
Booking.com
BKNG
$127B
| $160M | 1.99% |
3,317,325
-450,825
| -12% | -$21.6M |
2013 Q2
4 quarters
|
|
20
Alphabet (Google) Class C
GOOG
$3.46T
| $121M | 1.5% |
4,170,639
-257,135
| -6% | -$6.98M |
2013 Q2
4 quarters
|
|
21
JOYY Inc
JOYY
$3.92B
| $113M | 1.41% |
1,501,048
+3,666
| +0.2% | +$239K |
2014 Q1
1 quarter
|
|
|
SCTY
22
DELISTED
SolarCity Corporation
SCTY
| $100M | 1.24% |
+1,410,960
| New | +$79.2M |
2014 Q2
0 quarters
|
|
|
LNKD
23
DELISTED
LinkedIn Corporation
LNKD
| $91.8M | 1.14% |
535,456
-946,223
| -64% | -$153M |
2013 Q2
4 quarters
|
|
24
Amazon
AMZN
$2.81T
| $83.8M | 1.04% |
5,160,540
-607,340
| -11% | -$9.6M |
2013 Q2
4 quarters
|
|
25
Microsoft
MSFT
$3.98T
| $81.2M | 1.01% |
+1,947,663
| New | +$78.8M |
2014 Q2
0 quarters
|
|
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Philippe Laffont's Q2 2014 Portfolio in Review
As of Q2 2014, Philippe Laffont held 53 positions worth $8.03B, up 42% from $5.66B the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Philippe Laffont deployed $1.56B of net new capital in Q2 2014, opening 14 new positions and adding to 12 existing holdings. Its largest new stake was Salesforce: 3,647,826 shares worth $212M.
By sector, the portfolio is most concentrated in Communication Services at 49% of assets, down from 61% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Baidu, an estimated $236M trimmed.
- Philippe Laffont's largest Q2 2014 buy was Salesforce: 3,647,826 shares worth $212M.
- Philippe Laffont added most to Apple in Q2 2014, an estimated $724M increase.
- Philippe Laffont's biggest Q2 2014 reduction was Baidu, cutting an estimated $236M.
- Philippe Laffont fully exited Trip.com Group in Q2 2014, selling an estimated $182M.
- Philippe Laffont's ten largest holdings make up 64% of its $8.03B portfolio in Q2 2014.
- Philippe Laffont opened 14 new positions and closed 10 in Q2 2014.
- Philippe Laffont's portfolio value rose 42% quarter-over-quarter to $8.03B.
Based on Coatue Management's 13F filing for Q2 2014, filed 14 Aug 2014.