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 |
Liberty Broadband Class C
LBRDK
|
+$518M |
| 2 |
PayPal
PYPL
|
+$178M |
| 3 |
Expedia Group
EXPE
|
+$54.4M |
| 4 |
LendingTree
TREE
|
+$48.3M |
| 5 |
Gen Digital
GEN
|
+$38.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Charter Communications
CHTR
|
+$378M |
| 2 |
Microsoft
MSFT
|
+$306M |
| 3 |
Adobe
ADBE
|
+$202M |
| 4 |
Amazon
AMZN
|
+$175M |
| 5 |
Meta Platforms (Facebook)
META
|
+$166M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 39.66% |
| 2 | Technology | 28.29% |
| 3 | Consumer Discretionary | 14.15% |
| 4 | Real Estate | 8.22% |
| 5 | Financials | 5.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
ATVI
1
DELISTED
Activision Blizzard
ATVI
| $551M | 7.85% |
13,891,397
-588,424
| -4% | -$21.6M |
2014 Q4
6 quarters
|
|
|
2
DELISTED
Liberty Broadband Class C
LBRDK
| $534M | 7.6% |
+8,892,050
| New | +$518M |
2016 Q2
0 quarters
|
|
|
3
Meta Platforms (Facebook)
META
$1.65T
| $483M | 6.89% |
4,228,886
-1,440,756
| -25% | -$166M |
2013 Q3
11 quarters
|
|
4
Netflix
NFLX
$279B
| $454M | 6.47% |
49,608,550
-6,608,920
| -12% | -$63.5M |
2013 Q2
12 quarters
|
|
5
JD.com
JD
$34.7B
| $418M | 5.96% |
19,695,976
-1,666,992
| -8% | -$40.3M |
2014 Q4
6 quarters
|
|
6
Alphabet (Google) Class C
GOOG
$3.92T
| $365M | 5.2% |
10,544,700
-4,085,300
| -28% | -$147M |
2013 Q2
12 quarters
|
|
7
Equinix
EQIX
$94B
| $359M | 5.12% |
926,191
-365,496
| -28% | -$128M |
2015 Q1
5 quarters
|
|
8
DELISTED
Electronic Arts
EA
| $358M | 5.11% |
4,728,849
-1,167,237
| -20% | -$82.2M |
2014 Q4
6 quarters
|
|
|
9
PayPal
PYPL
$49.2B
| $328M | 4.67% |
8,983,256
+4,645,171
| +107% | +$178M |
2016 Q1
1 quarter
|
|
10
Broadcom
AVGO
$1.54T
| $321M | 4.58% |
20,676,060
-1,464,090
| -7% | -$22.3M |
2014 Q1
9 quarters
|
|
|
11
Microsoft
MSFT
$3.87T
| $250M | 3.57% |
4,888,413
-5,883,581
| -55% | -$306M |
2014 Q2
8 quarters
|
|
|
12
Amazon
AMZN
$2.7T
| $221M | 3.14% |
6,162,680
-5,173,020
| -46% | -$175M |
2013 Q2
12 quarters
|
|
13
American Tower
AMT
$84.6B
| $217M | 3.1% |
1,914,143
-466,624
| -20% | -$49.7M |
2013 Q2
12 quarters
|
|
|
14
Expedia Group
EXPE
$35.8B
| $216M | 3.08% |
2,034,943
+500,674
| +33% | +$54.4M |
2015 Q2
4 quarters
|
|
15
Akamai
AKAM
$13.1B
| $188M | 2.67% |
3,354,436
+402,297
| +14% | +$21.2M |
2014 Q2
8 quarters
|
|
16
Liberty Global Class C
LBTYK
$2.74B
| $187M | 2.67% |
6,543,214
+862,555
| +15% | +$27.2M |
2014 Q1
9 quarters
|
|
17
Liberty Global Class A
LBTYA
$2.78B
| $186M | 2.64% |
6,385,880
+559,872
| +10% | +$18.2M |
2013 Q2
12 quarters
|
|
|
18
Adobe
ADBE
$105B
| $163M | 2.32% |
1,697,014
-2,101,735
| -55% | -$202M |
2015 Q2
4 quarters
|
|
19
Alphabet (Google) Class A
GOOGL
$3.97T
| $110M | 1.57% |
3,131,500
-137,840
| -4% | -$5.06M |
2015 Q4
2 quarters
|
|
20
F5
FFIV
$25.5B
| $107M | 1.53% |
943,848
| – | – |
2016 Q1
1 quarter
|
|
21
Illumina
ILMN
$40.7B
| $80.4M | 1.15% |
588,656
+90,660
| +18% | +$12.9M |
2014 Q4
6 quarters
|
|
22
Chipotle Mexican Grill
CMG
$35.6B
| $71M | 1.01% |
8,809,850
+30,000
| +0.3% | +$261K |
2016 Q1
1 quarter
|
|
23
DELISTED
Splunk Inc
SPLK
| $69.2M | 0.99% |
1,276,686
-934,989
| -42% | -$49.4M |
2016 Q1
1 quarter
|
|
24
DELISTED
Mobileye N.V.
MBLY
| $52.9M | 0.75% |
1,145,519
| – | – |
2016 Q1
1 quarter
|
|
25
Ambarella
AMBA
$2.79B
| $52.6M | 0.75% |
1,035,158
-276,198
| -21% | -$12.2M |
2015 Q1
5 quarters
|
|
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Philippe Laffont's Q2 2016 Portfolio in Review
As of Q2 2016, Philippe Laffont held 66 positions worth $7.02B, down 12% from $8.01B the previous quarter. Its ten largest holdings account for 59% of the portfolio.
Philippe Laffont withdrew a net $988M in Q2 2016, closing 10 positions and reducing 22 holdings. Its most notable exit was Charter Communications, an estimated $378M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 40% of assets, up from 38% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Philippe Laffont opened a new position in Liberty Broadband Class C worth $534M.
- Philippe Laffont's largest Q2 2016 buy was Liberty Broadband Class C: 8,892,050 shares worth $534M.
- Philippe Laffont added most to PayPal in Q2 2016, an estimated $178M increase.
- Philippe Laffont's biggest Q2 2016 reduction was Microsoft, cutting an estimated $306M.
- Philippe Laffont fully exited Charter Communications in Q2 2016, selling an estimated $378M.
- Philippe Laffont's ten largest holdings make up 59% of its $7.02B portfolio in Q2 2016.
- Philippe Laffont opened 10 new positions and closed 10 in Q2 2016.
- Philippe Laffont's portfolio value fell 12% quarter-over-quarter to $7.02B.
Based on Coatue Management's 13F filing for Q2 2016, filed 12 Aug 2016.