- Philippe Laffont’s 13F portfolio increased from $8.15B to $8.44B this quarter.
- Coatue Management increased Nvidia & Alibaba while reducing Apple & Netflix.
- The largest three positions are Facebook, Liberty Broadband, and Alphabet and they add up to ~23% of the portfolio.
Philippe Laffont’s 13F portfolio increased marginally from $8.15B
to $8.44B. Recent 13F reports have shown a total of around 50 individual stock
positions in the portfolio. The largest five stakes are Facebook Inc. (FB), Liberty
Broadband (LBRDK), Alphabet Inc. (GOOG), Nvidia Inc. (NVDA), and Activision
Blizzard (ATVI) and they add up to over one-third of the entire portfolio.
Philippe Laffont is one of the most successful among the "tiger
cubs". To know more about Julian Robertson and his legendary Tiger
Management, check out Julian Robertson: A Tiger in the Land
of Bulls and Bears.
Below is a summary of the major moves this quarter:
Apple Inc. (AAPL): AAPL
is a fairly large 4.38% of the portfolio stake. It was established last quarter
at prices between $95 and $116. This quarter saw a ~50% selling at prices
between $106 and $118. The stock is now at $139.
Note: Apple in back in the portfolio after a quarter’s gap.
A large ~7% long-term stake was disposed of in Q1 2016 at prices between $93
and $110.
Facebook Inc. (FB):
FB is the largest position in the portfolio at ~8.3%. The original stake is
from Q3 2013 at prices between $24 and $51. The four quarters thru Q2 2016 had
seen a ~50% combined reduction at prices between $86 and $120. There was an
about turn last quarter: ~50% increase at prices between $114 and $131. The
stock currently trades at $138. There was minor trimming this quarter.
Alphabet Inc. (GOOG):
GOOG is a long-term top-three ~7% portfolio stake. Recent activity follow: Q4
2015 saw a whopping ~330% stake increase at prices between $625 and $767. The
following two quarters saw a reversal: ~45% reduction at prices between $668
and $767. The stock is now at $835. There was marginal selling this quarter.
Liberty Broadband
(LBRDK): LBRDK is a top-three ~7.5% portfolio stake established in Q2 2016
at prices between $55 and $60. The stock is now at $84.55.
PayPal Holdings
(PYPL): PYPL is a ~2.4% portfolio position established in Q1 2016 at prices
between $31.20 and $41.32 and more than doubled the following quarter at prices
between $34.20 and $40.31. Last quarter saw an about turn: almost one-third
selling at prices between $36 and $41 and that was followed with a ~15%
reduction this quarter at prices between $38 and $44. The stock is now at $42.79.
Below is a spreadsheet that shows the changes to Philippe
Laffont's Coatue Management US long portfolio holdings as of Q4 2016. For a
look at how the portfolio has progressed, see our previous update:
To learn more about how to profit from a strategy of
following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning
Strategies for the Little Guy .
No comments :
Post a Comment