- Philippe Laffont’s 13F portfolio value increased from $8.44B to $10.38B this quarter.
- Coatue Management added Snap and increased Brroadcom, Bank of America & Symantec.
- The largest three positions are Facebook, Liberty Broadband, and Broadcom and they add up to ~23% of the portfolio.
Philippe Laffont’s 13F portfolio value increased ~23% from $8.44B
to $10.38B. 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), Broadcom Ltd. (AVGO), Activision Blizzard (ATVI), and
Bank of America (BAC) 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:
Apple Inc. (AAPL): AAPL
is a fairly large ~4% of the portfolio stake. It was established in Q3 2016 at
prices between $95 and $116. Last quarter saw a ~50% selling at prices between
$106 and $118. The stock is now at $146. There was a ~8% trimming this quarter.
Note: Apple had a previous round-trip. 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 9.11%. 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 in Q3 2016: ~50% increase at prices between $114 and $131. The stock
currently trades at $155. There was a ~9% increase this quarter.
Alphabet Inc. (GOOG):
GOOG is a long-term 4.41% 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. There
was another ~25% selling this quarter at prices between $786 and $852. The
stock is now at $966.
Liberty Broadband
(LBRDK): LBRDK is a top-three 7.2% portfolio stake established in Q2 2016
at prices between $55 and $60. The stock is now at $85.72. There was a marginal
increase this quarter.
Symantec Corp. (SYMC):
SYMC is a 4.55% portfolio stake established last quarter at prices between $23
and $25 and increased by a whopping 280% this quarter at prices between $24 and
$31. The stock is now at $28.53.
Below is a spreadsheet that shows the changes to Philippe Laffont's
Coatue Management US long portfolio holdings as of Q1 2017. For a look at how the
portfolio has progressed, see our previous update:
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following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning
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