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 |
PayPal
PYPL
|
+$157M |
| 2 |
Splunk Inc
SPLK
|
+$100M |
| 3 |
F5
FFIV
|
+$90.4M |
| 4 |
Chipotle Mexican Grill
CMG
|
+$83.5M |
| 5 |
Electronic Arts
EA
|
+$75.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$717M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$262M |
| 3 |
AGN
Allergan plc
AGN
|
+$257M |
| 4 |
TWX
Time Warner Inc
TWX
|
+$201M |
| 5 |
Paramount Global Class B
PARA
|
+$182M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 38.04% |
| 2 | Technology | 31.05% |
| 3 | Consumer Discretionary | 15.44% |
| 4 | Real Estate | 8.37% |
| 5 | Financials | 2.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Meta Platforms (Facebook)
META
$1.56T
| $647M | 8.07% |
5,669,642
-941,544
| -14% | -$99.3M |
2013 Q3
10 quarters
|
|
2
Microsoft
MSFT
$3.94T
| $595M | 7.42% |
10,771,994
-2,573,417
| -19% | -$135M |
2014 Q2
7 quarters
|
|
3
Netflix
NFLX
$260B
| $575M | 7.17% |
56,217,470
-8,073,730
| -13% | -$79.3M |
2013 Q2
11 quarters
|
|
4
JD.com
JD
$39.3B
| $566M | 7.06% |
21,362,968
+1,829,187
| +9% | +$48M |
2014 Q4
5 quarters
|
|
|
5
Alphabet (Google) Class C
GOOG
$3.49T
| $545M | 6.8% |
14,630,000
-7,307,900
| -33% | -$262M |
2013 Q2
11 quarters
|
|
|
ATVI
6
DELISTED
Activision Blizzard
ATVI
| $490M | 6.11% |
14,479,821
+1,698,656
| +13% | +$55.7M |
2014 Q4
5 quarters
|
|
7
Equinix
EQIX
$100B
| $427M | 5.33% |
1,291,687
-243,596
| -16% | -$74.1M |
2015 Q1
4 quarters
|
|
|
8
DELISTED
Electronic Arts
EA
| $390M | 4.86% |
5,896,086
+1,179,489
| +25% | +$75.3M |
2014 Q4
5 quarters
|
|
9
Charter Communications
CHTR
$13.5B
| $378M | 4.72% |
1,869,375
-740,348
| -28% | -$133M |
2013 Q2
11 quarters
|
|
10
Adobe
ADBE
$93.1B
| $356M | 4.45% |
3,798,749
-54,164
| -1% | -$4.7M |
2015 Q2
3 quarters
|
|
11
Broadcom
AVGO
$1.4T
| $342M | 4.27% |
22,140,150
+2,172,690
| +11% | +$29.4M |
2014 Q1
8 quarters
|
|
12
Amazon
AMZN
$2.8T
| $336M | 4.2% |
11,335,700
-1,409,700
| -11% | -$40M |
2013 Q2
11 quarters
|
|
13
American Tower
AMT
$87.6B
| $244M | 3.04% |
2,380,767
-247,102
| -9% | -$23.1M |
2013 Q2
11 quarters
|
|
14
Liberty Global Class A
LBTYA
$3.29B
| $196M | 2.44% |
5,826,008
+1,128,516
| +24% | +$35.5M |
2013 Q2
11 quarters
|
|
15
Liberty Global Class C
LBTYK
$3.23B
| $185M | 2.31% |
5,680,659
+1,100,715
| +24% | +$33.5M |
2014 Q1
8 quarters
|
|
|
16
PayPal
PYPL
$49.2B
| $167M | 2.09% |
+4,338,085
| New | +$157M |
2016 Q1
0 quarters
|
|
17
Expedia Group
EXPE
$30.7B
| $165M | 2.06% |
1,534,269
-615,676
| -29% | -$65.7M |
2015 Q2
3 quarters
|
|
18
Akamai
AKAM
$11.9B
| $164M | 2.05% |
2,952,139
+741,485
| +34% | +$37.7M |
2014 Q2
7 quarters
|
|
19
Alphabet (Google) Class A
GOOGL
$3.5T
| $125M | 1.56% |
3,269,340
+413,100
| +14% | +$15.2M |
2015 Q4
1 quarter
|
|
|
20
DELISTED
Splunk Inc
SPLK
| $108M | 1.35% |
+2,211,675
| New | +$100M |
2016 Q1
0 quarters
|
|
|
21
F5
FFIV
$17.7B
| $100M | 1.25% |
+943,848
| New | +$90.4M |
2016 Q1
0 quarters
|
|
|
22
Chipotle Mexican Grill
CMG
$43.6B
| $82.7M | 1.03% |
+8,779,850
| New | +$83.5M |
2016 Q1
0 quarters
|
|
23
Illumina
ILMN
$32.2B
| $78.5M | 0.98% |
497,996
+2,020
| +0.4% | +$309K |
2014 Q4
5 quarters
|
|
24
Ambarella
AMBA
$2.58B
| $58.6M | 0.73% |
1,311,356
+421,092
| +47% | +$17.4M |
2015 Q1
4 quarters
|
|
25
Herc Holdings
HRI
$5.08B
| $54.5M | 0.68% |
+1,726,386
| New | +$50.7M |
2016 Q1
0 quarters
|
|
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Philippe Laffont's Q1 2016 Portfolio in Review
As of Q1 2016, Philippe Laffont held 78 positions worth $8.01B, down 21% from $10.1B the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Philippe Laffont withdrew a net $1.8B in Q1 2016, closing 22 positions and reducing 15 holdings. Its most notable exit was Apple, an estimated $717M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 38% of assets, down from 41% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Philippe Laffont opened a new position in PayPal worth $167M.
- Philippe Laffont's largest Q1 2016 buy was PayPal: 4,338,085 shares worth $167M.
- Philippe Laffont added most to Electronic Arts in Q1 2016, an estimated $75.3M increase.
- Philippe Laffont's biggest Q1 2016 reduction was Alphabet (Google) Class C, cutting an estimated $262M.
- Philippe Laffont fully exited Apple in Q1 2016, selling an estimated $717M.
- Philippe Laffont's ten largest holdings make up 62% of its $8.01B portfolio in Q1 2016.
- Philippe Laffont opened 22 new positions and closed 22 in Q1 2016.
- Philippe Laffont's portfolio value fell 21% quarter-over-quarter to $8.01B.
Based on Coatue Management's 13F filing for Q1 2016, filed 16 May 2016.