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 |
LNKD
LinkedIn Corporation
LNKD
|
+$584M |
| 2 |
Baidu
BIDU
|
+$477M |
| 3 |
eBay
EBAY
|
+$272M |
| 4 |
LVLT
Level 3 Communications Inc
LVLT
|
+$139M |
| 5 |
Alibaba
BABA
|
+$130M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Salesforce
CRM
|
+$212M |
| 2 |
Charter Communications
CHTR
|
+$166M |
| 3 |
Liberty Global Class C
LBTYK
|
+$80.7M |
| 4 |
TWX
Time Warner Inc
TWX
|
+$77.5M |
| 5 |
Liberty Global Class A
LBTYA
|
+$74.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 50.04% |
| 2 | Technology | 34.73% |
| 3 | Consumer Discretionary | 7.81% |
| 4 | Industrials | 2.82% |
| 5 | Consumer Staples | 2.59% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Apple
AAPL
$5.18T
| $1.07B | 10.9% |
42,292,280
+1,906,704
| +5% | +$46.8M |
2013 Q2
5 quarters
|
|
2
Netflix
NFLX
$255B
| $939M | 9.61% |
145,682,670
-191,030
| -0.1% | -$1.24M |
2013 Q2
5 quarters
|
|
|
3
Baidu
BIDU
$26.6B
| $801M | 8.19% |
3,668,941
+2,254,537
| +159% | +$477M |
2013 Q2
5 quarters
|
|
|
LNKD
4
DELISTED
LinkedIn Corporation
LNKD
| $719M | 7.36% |
3,461,411
+2,925,955
| +546% | +$584M |
2013 Q2
5 quarters
|
|
5
Broadcom
AVGO
$1.66T
| $694M | 7.1% |
79,810,430
+7,186,920
| +10% | +$56.1M |
2014 Q1
2 quarters
|
|
6
Meta Platforms (Facebook)
META
$1.64T
| $566M | 5.79% |
7,164,439
+1,290,052
| +22% | +$94.6M |
2013 Q3
4 quarters
|
|
7
Micron Technology
MU
$881B
| $536M | 5.48% |
15,636,060
-538,908
| -3% | -$17.5M |
2014 Q1
2 quarters
|
|
8
Adobe
ADBE
$94.6B
| $347M | 3.55% |
5,010,378
-267,720
| -5% | -$19M |
2014 Q1
2 quarters
|
|
|
9
eBay
EBAY
$53.1B
| $330M | 3.37% |
13,830,665
+12,245,600
| +773% | +$272M |
2014 Q2
1 quarter
|
|
|
TWX
10
DELISTED
Time Warner Inc
TWX
| $320M | 3.28% |
4,259,398
-999,620
| -19% | -$77.5M |
2013 Q2
5 quarters
|
|
11
DELISTED
Paramount Global Class B
PARA
| $309M | 3.16% |
5,767,785
-108,460
| -2% | -$6.39M |
2013 Q2
5 quarters
|
|
|
TFCFA
12
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $259M | 2.65% |
7,546,513
-200,000
| -3% | -$6.92M |
2013 Q3
4 quarters
|
|
|
13
Charter Communications
CHTR
$15.8B
| $254M | 2.6% |
1,676,236
-1,049,993
| -39% | -$166M |
2013 Q2
5 quarters
|
|
14
Hain Celestial
HAIN
$12.8M
| $244M | 2.49% |
4,763,088
+251,348
| +6% | +$11.7M |
2013 Q2
5 quarters
|
|
15
Applied Materials
AMAT
$294B
| $226M | 2.32% |
10,475,154
+1,807,169
| +21% | +$40M |
2014 Q2
1 quarter
|
|
|
16
Liberty Global Class A
LBTYA
$3.58B
| $198M | 2.02% |
5,632,131
-2,100,089
| -27% | -$74.8M |
2013 Q2
5 quarters
|
|
17
Akamai
AKAM
$12.3B
| $195M | 1.99% |
3,258,282
-120,197
| -4% | -$7.22M |
2014 Q2
1 quarter
|
|
|
18
Liberty Global Class C
LBTYK
$3.5B
| $172M | 1.76% |
5,195,873
-2,394,938
| -32% | -$80.7M |
2014 Q1
2 quarters
|
|
19
Booking.com
BKNG
$119B
| $152M | 1.55% |
3,273,900
-43,425
| -1% | -$2.14M |
2013 Q2
5 quarters
|
|
20
American Tower
AMT
$88.9B
| $144M | 1.47% |
1,533,348
-391,040
| -20% | -$37.2M |
2013 Q2
5 quarters
|
|
|
LVLT
21
DELISTED
Level 3 Communications Inc
LVLT
| $143M | 1.46% |
+3,122,406
| New | +$139M |
2014 Q3
0 quarters
|
|
|
22
Alibaba
BABA
$235B
| $129M | 1.32% |
+1,450,000
| New | +$130M |
2014 Q3
0 quarters
|
|
23
Alphabet (Google) Class C
GOOG
$3.6T
| $121M | 1.24% |
4,170,639
| – | – |
2013 Q2
5 quarters
|
|
|
SCTY
24
DELISTED
SolarCity Corporation
SCTY
| $108M | 1.11% |
1,813,713
+402,753
| +29% | +$27.7M |
2014 Q2
1 quarter
|
|
25
Microsoft
MSFT
$3.89T
| $101M | 1.03% |
2,171,009
+223,346
| +11% | +$10M |
2014 Q2
1 quarter
|
|
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Philippe Laffont's Q3 2014 Portfolio in Review
As of Q3 2014, Philippe Laffont held 54 positions worth $9.8B, up 22% from $8.03B the previous quarter. Its ten largest holdings account for 65% of the portfolio.
Philippe Laffont deployed $1.41B of net new capital in Q3 2014, opening 11 new positions and adding to 13 existing holdings. Its largest new stake was Level 3 Communications Inc: 3,122,406 shares worth $143M.
By sector, the portfolio is most concentrated in Communication Services at 50% of assets, up from 49% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Charter Communications, an estimated $166M trimmed.
- Philippe Laffont's largest Q3 2014 buy was Level 3 Communications Inc: 3,122,406 shares worth $143M.
- Philippe Laffont added most to LinkedIn Corporation in Q3 2014, an estimated $584M increase.
- Philippe Laffont's biggest Q3 2014 reduction was Charter Communications, cutting an estimated $166M.
- Philippe Laffont fully exited Salesforce in Q3 2014, selling an estimated $212M.
- Philippe Laffont's ten largest holdings make up 65% of its $9.8B portfolio in Q3 2014.
- Philippe Laffont opened 11 new positions and closed 6 in Q3 2014.
- Philippe Laffont's portfolio value rose 22% quarter-over-quarter to $9.8B.
Based on Coatue Management's 13F filing for Q3 2014, filed 14 Nov 2014.