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 |
Spotify
SPOT
|
+$347M |
| 2 |
Intel
INTC
|
+$319M |
| 3 |
Adobe
ADBE
|
+$257M |
| 4 |
Microsoft
MSFT
|
+$252M |
| 5 |
ServiceNow
NOW
|
+$196M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Micron Technology
MU
|
+$499M |
| 2 |
TWTR
Twitter, Inc.
TWTR
|
+$341M |
| 3 |
Apple
AAPL
|
+$324M |
| 4 |
Snap
SNAP
|
+$323M |
| 5 |
Broadcom
AVGO
|
+$297M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 42.05% |
| 2 | Technology | 36.22% |
| 3 | Consumer Discretionary | 13.9% |
| 4 | Financials | 4.58% |
| 5 | Consumer Staples | 2.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Meta Platforms (Facebook)
META
$1.63T
| $1.23B | 10.3% |
6,304,795
+607,510
| +11% | +$110M |
2013 Q3
19 quarters
|
|
|
TWTR
2
DELISTED
Twitter, Inc.
TWTR
| $1.11B | 9.3% |
25,349,738
-9,719,906
| -28% | -$341M |
2017 Q3
3 quarters
|
|
3
DELISTED
Electronic Arts
EA
| $924M | 7.76% |
6,549,876
-141,065
| -2% | -$18.3M |
2014 Q4
14 quarters
|
|
|
ATVI
4
DELISTED
Activision Blizzard
ATVI
| $874M | 7.34% |
11,448,439
+1,961,378
| +21% | +$139M |
2014 Q4
14 quarters
|
|
5
Shopify
SHOP
$189B
| $734M | 6.17% |
50,325,180
-19,748,870
| -28% | -$280M |
2017 Q2
4 quarters
|
|
|
6
Microsoft
MSFT
$3.89T
| $705M | 5.93% |
7,148,458
+2,604,025
| +57% | +$252M |
2017 Q4
2 quarters
|
|
7
Netflix
NFLX
$256B
| $670M | 5.63% |
17,121,930
-6,203,150
| -27% | -$211M |
2013 Q2
20 quarters
|
|
8
DELISTED
Liberty Broadband Class C
LBRDK
| $655M | 5.51% |
8,654,352
| – | – |
2016 Q2
8 quarters
|
|
9
Amazon
AMZN
$2.87T
| $583M | 4.9% |
6,860,680
-3,086,880
| -31% | -$245M |
2013 Q2
20 quarters
|
|
10
Alibaba
BABA
$234B
| $553M | 4.64% |
2,978,544
-1,101,236
| -27% | -$210M |
2016 Q3
7 quarters
|
|
11
PayPal
PYPL
$49.2B
| $533M | 4.48% |
6,404,849
+2,313,773
| +57% | +$184M |
2016 Q1
9 quarters
|
|
|
12
Broadcom
AVGO
$1.64T
| $494M | 4.15% |
20,372,500
-12,094,320
| -37% | -$297M |
2014 Q1
17 quarters
|
|
13
JD.com
JD
$37.5B
| $492M | 4.14% |
12,640,721
| – | – |
2014 Q4
14 quarters
|
|
|
14
Adobe
ADBE
$94B
| $403M | 3.39% |
1,654,074
+1,087,925
| +192% | +$257M |
2017 Q3
3 quarters
|
|
|
15
Spotify
SPOT
$126B
| $365M | 3.06% |
+2,166,977
| New | +$347M |
2018 Q2
0 quarters
|
|
|
16
Intel
INTC
$312B
| $299M | 2.51% |
+6,014,056
| New | +$319M |
2018 Q2
0 quarters
|
|
|
17
Micron Technology
MU
$862B
| $276M | 2.32% |
5,259,950
-9,219,082
| -64% | -$499M |
2018 Q1
1 quarter
|
|
18
TAL Education Group
TAL
$5.68B
| $271M | 2.28% |
7,365,502
+2,808,767
| +62% | +$110M |
2018 Q1
1 quarter
|
|
19
NVIDIA
NVDA
$3.88T
| $263M | 2.21% |
44,413,200
-11,801,720
| -21% | -$71.7M |
2016 Q3
7 quarters
|
|
|
20
ServiceNow
NOW
$105B
| $196M | 1.64% |
+5,669,410
| New | +$196M |
2018 Q2
0 quarters
|
|
21
Axon Enterprise
AXON
$25.1B
| $78.4M | 0.66% |
+1,241,636
| New | +$67.2M |
2018 Q2
0 quarters
|
|
22
DELISTED
Hertz Global Holdings, Inc.
HTZ
| $30.3M | 0.25% |
+2,273,021
| New | +$36.8M |
2018 Q2
0 quarters
|
|
23
Huya Inc
HUYA
$500M
| $28M | 0.24% |
+850,000
| New | +$25.5M |
2018 Q2
0 quarters
|
|
|
FIT
24
DELISTED
Fitbit, Inc. Class A common stock
FIT
| $20.8M | 0.17% |
3,178,570
-12,439
| -0.4% | -$71.1K |
2015 Q4
10 quarters
|
|
25
Liberty Media Corporation Series C Common Stock
FWONK
$27.6B
| $16.7M | 0.14% |
466,051
-5,739,683
| -92% | -$175M |
2017 Q1
5 quarters
|
|
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Philippe Laffont's Q2 2018 Portfolio in Review
As of Q2 2018, Philippe Laffont held 165 positions worth $11.9B, down 1.7% from $12.1B the previous quarter. Its ten largest holdings account for 67% of the portfolio.
Philippe Laffont withdrew a net $1.59B in Q2 2018, closing 58 positions and reducing 30 holdings. Its most notable exit was Snap, an estimated $323M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 42% of assets, up from 40% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Philippe Laffont opened a new position in Spotify worth $365M.
- Philippe Laffont's largest Q2 2018 buy was Spotify: 2,166,977 shares worth $365M.
- Philippe Laffont added most to Adobe in Q2 2018, an estimated $257M increase.
- Philippe Laffont's biggest Q2 2018 reduction was Micron Technology, cutting an estimated $499M.
- Philippe Laffont fully exited Snap in Q2 2018, selling an estimated $323M.
- Philippe Laffont's ten largest holdings make up 67% of its $11.9B portfolio in Q2 2018.
- Philippe Laffont opened 40 new positions and closed 58 in Q2 2018.
- Philippe Laffont's portfolio value fell 1.7% quarter-over-quarter to $11.9B.
Based on Coatue Management's 13F filing for Q2 2018, filed 14 Aug 2018.