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 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$284M |
| 2 |
Bank of America
BAC
|
+$283M |
| 3 |
NVIDIA
NVDA
|
+$193M |
| 4 |
JPMorgan Chase
JPM
|
+$143M |
| 5 |
Walt Disney
DIS
|
+$142M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$375M |
| 2 |
Netflix
NFLX
|
+$214M |
| 3 |
Intel
INTC
|
+$165M |
| 4 |
Thermo Fisher Scientific
TMO
|
+$78M |
| 5 |
Illumina
ILMN
|
+$68.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 41.54% |
| 2 | Technology | 25.98% |
| 3 | Consumer Discretionary | 11.46% |
| 4 | Financials | 8.76% |
| 5 | Real Estate | 5.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Meta Platforms (Facebook)
META
$1.55T
| $700M | 8.3% |
6,086,200
-201,825
| -3% | -$24.8M |
2013 Q3
13 quarters
|
|
2
DELISTED
Liberty Broadband Class C
LBRDK
| $641M | 7.59% |
8,648,889
| – | – |
2016 Q2
2 quarters
|
|
|
3
NVIDIA
NVDA
$4.39T
| $459M | 5.44% |
172,159,560
+92,261,440
| +115% | +$193M |
2016 Q3
1 quarter
|
|
4
Alphabet (Google) Class C
GOOG
$3.46T
| $434M | 5.15% |
11,255,940
-458,240
| -4% | -$17.9M |
2013 Q2
14 quarters
|
|
|
ATVI
5
DELISTED
Activision Blizzard
ATVI
| $424M | 5.02% |
11,736,204
+136,542
| +1% | +$5.46M |
2014 Q4
8 quarters
|
|
6
Alibaba
BABA
$269B
| $374M | 4.43% |
4,259,322
+1,474,976
| +53% | +$142M |
2016 Q3
1 quarter
|
|
|
7
Apple
AAPL
$5.02T
| $370M | 4.38% |
12,776,720
-13,231,176
| -51% | -$375M |
2016 Q3
1 quarter
|
|
|
8
Netflix
NFLX
$273B
| $364M | 4.31% |
29,397,890
-18,054,210
| -38% | -$214M |
2013 Q2
14 quarters
|
|
9
Broadcom
AVGO
$1.39T
| $351M | 4.15% |
19,829,500
+418,910
| +2% | +$7.26M |
2014 Q1
11 quarters
|
|
10
DELISTED
Electronic Arts
EA
| $343M | 4.06% |
4,348,918
-268,029
| -6% | -$21.6M |
2014 Q4
8 quarters
|
|
|
11
Bank of America
BAC
$343B
| $324M | 3.84% |
+14,682,934
| New | +$283M |
2016 Q4
0 quarters
|
|
12
JD.com
JD
$38.7B
| $323M | 3.83% |
12,700,181
+590,262
| +5% | +$15.4M |
2014 Q4
8 quarters
|
|
13
Equinix
EQIX
$98.7B
| $319M | 3.78% |
891,795
+150
| +0% | +$52.4K |
2015 Q1
7 quarters
|
|
|
14
State Street Financial Select Sector SPDR ETF
XLF
$53.6B
| $308M | 3.65% |
+13,257,244
| New | +$284M |
2016 Q4
0 quarters
|
|
|
TWX
15
DELISTED
Time Warner Inc
TWX
| $274M | 3.25% |
2,839,859
-114,846
| -4% | -$10.2M |
2016 Q3
1 quarter
|
|
16
PayPal
PYPL
$49B
| $205M | 2.43% |
5,204,285
-985,807
| -16% | -$39.6M |
2016 Q1
3 quarters
|
|
17
Amazon
AMZN
$2.81T
| $205M | 2.43% |
5,465,960
-475,840
| -8% | -$18.6M |
2013 Q2
14 quarters
|
|
18
Liberty Global Class C
LBTYK
$3.25B
| $183M | 2.17% |
6,156,759
-1,543,999
| -20% | -$47.4M |
2014 Q1
11 quarters
|
|
19
Liberty Global Class A
LBTYA
$3.31B
| $176M | 2.08% |
5,742,150
-1,691,232
| -23% | -$53.4M |
2013 Q2
14 quarters
|
|
|
20
JPMorgan Chase
JPM
$896B
| $162M | 1.92% |
+1,877,494
| New | +$143M |
2016 Q4
0 quarters
|
|
|
21
Walt Disney
DIS
$202B
| $152M | 1.8% |
+1,457,400
| New | +$142M |
2016 Q4
0 quarters
|
|
22
American Tower
AMT
$90B
| $138M | 1.64% |
1,309,632
-264,930
| -17% | -$28.8M |
2013 Q2
14 quarters
|
|
23
Alphabet (Google) Class A
GOOGL
$3.47T
| $134M | 1.59% |
3,377,860
+293,240
| +10% | +$11.7M |
2015 Q4
4 quarters
|
|
24
F5
FFIV
$17.7B
| $119M | 1.41% |
820,915
| – | – |
2016 Q1
3 quarters
|
|
25
Gen Digital
GEN
$18.2B
| $108M | 1.28% |
+4,512,167
| New | +$111M |
2016 Q4
0 quarters
|
|
Similar funds
Philippe Laffont's Q4 2016 Portfolio in Review
As of Q4 2016, Philippe Laffont held 60 positions worth $8.44B, up 3.5% from $8.15B the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Philippe Laffont deployed $364M of net new capital in Q4 2016, opening 10 new positions and adding to 13 existing holdings. Its largest new stake was State Street Financial Select Sector SPDR ETF: 13,257,244 shares worth $308M.
By sector, the portfolio is most concentrated in Communication Services at 42% of assets, down from 45% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Apple, an estimated $375M trimmed.
- Philippe Laffont's largest Q4 2016 buy was State Street Financial Select Sector SPDR ETF: 13,257,244 shares worth $308M.
- Philippe Laffont added most to NVIDIA in Q4 2016, an estimated $193M increase.
- Philippe Laffont's biggest Q4 2016 reduction was Apple, cutting an estimated $375M.
- Philippe Laffont fully exited Intel in Q4 2016, selling an estimated $165M.
- Philippe Laffont's ten largest holdings make up 53% of its $8.44B portfolio in Q4 2016.
- Philippe Laffont opened 10 new positions and closed 4 in Q4 2016.
- Philippe Laffont's portfolio value rose 3.5% quarter-over-quarter to $8.44B.
Based on Coatue Management's 13F filing for Q4 2016, filed 13 Feb 2017.