- Philippe Laffont’s 13F portfolio value increased from $12.24B to $12.78B this quarter.
- Coatue Management increased Broadcom, Shopify, Amazon.com, and Twitter during the quarter.
- The largest three positions are Broadcom, Facebook, and Nvidia and they add up to ~21% of the portfolio.
Philippe Laffont’s 13F portfolio value increased ~4% from $12.24B
to $12.78B. Recent 13F reports have shown a total of around 50 individual stock
positions in the portfolio. The largest five stakes are Broadcom Ltd. (AVGO), Facebook
Inc. (FB), Nvidia (NVDA), Alibaba Group Holdings (BABA), and Liberty Broadband
(LBRDK), and they add up to around 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:
Broadcom Ltd. (AVGO):
AVGO is currently the largest position at 7.51% of the portfolio. The stake saw
a ~30% increase this quarter at prices between $240 and $285. The original
position was from Q2 2015 at prices between $120 and $148. The stock is now at
$255.
Note: Coatue also had a large position in Avago that was
established in H1 2014.
Apple Inc. (AAPL): AAPL
is a ~6% of the portfolio stake. It was established in Q3 2016 at prices
between $95 and $116. The following quarter saw a ~50% selling at prices
between $106 and $118. Last quarter saw another ~150% stake increase at prices
between $142 and $164. The stock is now at $178. There was a ~40% selling this
quarter at prices between $153 and $178.
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 second-largest position in the portfolio at ~7%. 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 $185. There was a ~25% reduction this quarter at prices
between $168 and $183.
Alphabet Inc. (GOOG):
GOOG is a long-term ~4% 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 in Q1 2017 at prices between $786 and $852. The
stock is now at $1136. The position saw a ~8% trimming this quarter.
Liberty Broadband
(LBRDK): LBRDK is a top-five ~6% portfolio stake established in Q2 2016 at
prices between $55 and $60. The stock is now at $89.
Symantec Corp.
(SYMC): SYMC was a ~2% portfolio stake established in Q4 2016 at prices
between $23 and $25 and increased by a whopping 280% in Q1 2017 at prices
between $24 and $31. Last quarter saw an about turn: ~55% selling at prices
between $27.50 and $34 and that was followed with the disposal this quarter at
prices between $27.50 and $34. The stock is now at $27.37.
Shopify (SHOP): Coatue
has a ~6% of the portfolio stake in Shopify (SHOP) established in Q2 2017 at
prices between $85 and $123. The stake saw a whopping 170% increase this
quarter at prices between $92 and $119. The stock is now at $147.
Below is a spreadsheet that shows the changes to Philippe
Laffont's Coatue Management US long portfolio holdings as of Q4 2017. For a
look at how the portfolio has progressed, see our previous update:
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