Insights into Coatue Management's Latest 13F Filing
Philippe Laffont (Trades, Portfolio), the founder of Coatue Management, has made notable adjustments to his investment portfolio in the first quarter of 2024. A former protégé of Julian Robertson at Tiger Management (Trades, Portfolio), Laffont established Coatue in 1999, focusing primarily on technology-driven investments. The firm, known for its rigorous fundamental analysis and a blend of long and short strategies, continues to shape its portfolio with a strong emphasis on the tech sector, which constitutes over half of its investments.
Summary of New Buys
Philippe Laffont (Trades, Portfolio)'s Coatue Management has expanded its portfolio by adding 21 new stocks. Key acquisitions include:
- Qualcomm Inc (QCOM, Financial), purchasing 3,663,166 shares, which now represent 2.43% of the portfolio, valued at approximately $620.17 million.
- Broadcom Inc (AVGO, Financial), with 416,460 shares, making up about 2.17% of the portfolio, valued at roughly $551.98 million.
- Dell Technologies Inc (DELL, Financial), acquiring 4,220,918 shares, accounting for 1.89% of the portfolio, with a total value of $481.65 million.
Key Position Increases
Laffont also significantly increased positions in several stocks, notably:
- Taiwan Semiconductor Manufacturing Co Ltd (TSM, Financial), adding 10,027,552 shares, resulting in a 3,209.17% increase, now holding a total of 10,340,018 shares, impacting the portfolio by 5.35%, valued at $1.41 billion.
- Salesforce Inc (CRM, Financial), with an additional 2,556,774 shares, increasing the total to 4,700,836 shares, marking a 119.25% rise, valued at $1.42 billion.
Summary of Sold Out Positions
In a significant portfolio adjustment, Laffont exited positions in 30 stocks, including:
- Apple Inc (AAPL, Financial), selling all 2,444,368 shares, impacting the portfolio by -1.97%.
- Moderna Inc (MRNA, Financial), liquidating all 3,273,052 shares, with a -1.37% portfolio impact.
Key Position Reductions
Reductions were also prominent in Laffont's strategy, particularly:
- NVIDIA Corp (NVDA, Financial), reducing holdings by 2,937,060 shares, a -67.95% decrease, impacting the portfolio by -6.1%. NVIDIA's stock price averaged $724.8 during the quarter, with a 29.38% return over the past three months and an 89.82% year-to-date increase.
- Advanced Micro Devices Inc (AMD, Financial), cutting back by 5,704,052 shares, a -45.68% reduction, impacting the portfolio by -3.53%. AMD's average stock price was $174.81 this quarter, with a -11.06% return over the past three months and a 6.65% year-to-date increase.
Portfolio Overview
As of the first quarter of 2024, Philippe Laffont (Trades, Portfolio)'s portfolio comprises 91 stocks. The top holdings include 8.22% in Meta Platforms Inc (META, Financial), 7.12% in Amazon.com Inc (AMZN, Financial), 6.07% in Microsoft Corp (MSFT, Financial), 5.55% in Salesforce Inc (CRM, Financial), and 5.52% in Taiwan Semiconductor Manufacturing Co Ltd (TSM, Financial). The investments are predominantly concentrated in nine industries, with technology leading the focus.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
