Great investors · Philippe Laffont · Q3 2024
What Philippe Laffont bought and sold in Q3 2024
Coatue Management 13F portfolio as of Sep 30, 2024: 81 positions worth $26.9 bn. Largest: META, AMZN, CEG, MSFT. Filed with the SEC on Nov 14, 2024.
The 13F is filed by Coatue Management, not by Philippe Laffont personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q3 2024
- IncreasedConstellation EnergyCEG+2.7 pp
- NewCadence Design SystemsCDNS+1.3 pp
- NewKKRKKR+1.3 pp
- IncreasedJD.comJD+1.2 pp
- IncreasedPDD HoldingsPDD+1.1 pp
- NewSpotify TechnologySPOT+1.0 pp
- NewDoorDashDASH+1.0 pp
- NewChipotle Mexican GrillCMG+1.0 pp
- IncreasedAlibaba Group HoldingBABA+1.0 pp
- IncreasedBroadcomAVGO+1.0 pp
- NewKranesh CSI China Internet ETFKWEB+0.9 pp
- IncreasedPayPal HoldingsPYPL+0.6 pp
Sells in Q3 2024
- ReducedDell TechnologiesDELL−2.9 pp
- ReducedQualcommQCOM−2.5 pp
- Sold outSalesforceCRM−1.8 pp
- ReducedNVIDIANVDA−1.6 pp
- Sold outAmphenolAPH−1.6 pp
- ReducedTaiwan Semiconductor ManufacturingTSM−1.3 pp
- ReducedAdvanced Micro DevicesAMD−1.2 pp
- ReducedMeta PlatformsMETA−1.0 pp
- Sold outEquinixEQIX−1.0 pp
- Sold outCrowdStrike HoldingsCRWD−0.7 pp
- ReducedVistra OperationsVST−0.5 pp
27 companies with material moves, out of 58 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Coatue Management's Q3 2024 13F lists 81 lines of US-listed securities worth $26.9 bn; the largest is META at 7.86% of the portfolio. It was accepted by the SEC on Nov 14, 2024 at 2:49 PM ET.
Against the previous quarter, it opened 14 positions (CDNS, KKR, SPOT and DASH and 10 more), closed 7 (CRM, APH, EQIX and CRWD and 3 more), added to 20 (JD, PDD, BABA and CEG and 16 more) and trimmed 17 (NVDA, TSM, META and AMD and 13 more). 30 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Meta Platforms META | 3.7 M | $2.1 bn | 7.86% | −12% |
| 2 | Amazon.com AMZN | 11.3 M | $2.1 bn | 7.80% | +4.6% |
| 3 | Constellation Energy CEG | 7.7 M | $2.0 bn | 7.46% | +57% |
| 4 | Microsoft MSFT | 3.9 M | $1.7 bn | 6.16% | +4.1% |
| 5 | Taiwan Semiconductor Manufacturing TSM | 9.4 M | $1.6 bn | 6.04% | −18% |
| 6 | Eaton ETN | 4.6 M | $1.5 bn | 5.71% | +8.5% |
| 7 | NVIDIA NVDA | 10.1 M | $1.2 bn | 4.57% | −26% |
| 8 | GE Vernova GEV | 3.9 M | $1.0 bn | 3.74% | +18% |
| 9 | Adobe ADBE | 1.7 M | $872M | 3.24% | −8.7% |
| 10 | Nu Holdings NU | 62.8 M | $857M | 3.18% | +6.2% |
| 11 | Vertiv Holdings VRT | 7.7 M | $768M | 2.85% | −15% |
| 12 | Broadcom AVGO | 4.3 M | $746M | 2.77% | +53% |
| 13 | Advanced Micro Devices AMD | 4.2 M | $697M | 2.59% | −32% |
| 14 | PayPal Holdings PYPL | 8.3 M | $644M | 2.39% | +36% |
| 15 | Alphabet GOOGL | 3.7 M | $611M | 2.27% | +33% |
| 16 | Tesla TSLA | 2.2 M | $585M | 2.17% | +36% |
| 17 | Intuitive Surgical ISRG | 1.1 M | $538M | 2.00% | +6.5% |
| 18 | Netflix NFLX | 612,323 | $434M | 1.61% | no change |
| 19 | Cadence Design Systems CDNS | 1.3 M | $359M | 1.34% | new |
| 20 | KKR KKR | 2.7 M | $355M | 1.32% | new |
| 21 | PDD Holdings PDD | 2.6 M | $349M | 1.30% | +741% |
| 22 | First Citizens Bancshares FCNCA | 185,752 | $342M | 1.27% | −11% |
| 23 | Vistra Operations VST | 2.8 M | $335M | 1.25% | −29% |
| 24 | Lam Research LRCX | 404,637 | $330M | 1.23% | −12% |
| 25 | JD.com JD | 8.2 M | $330M | 1.23% | ×336 |
| 26 | Intuit INTU | 500,389 | $311M | 1.15% | no change |
| 27 | Alibaba Group Holding BABA | 2.7 M | $288M | 1.07% | +895% |
| 28 | Spotify Technology SPOT | 760,249 | $280M | 1.04% | new |
| 29 | DoorDash DASH | 2.0 M | $280M | 1.04% | new |
| 30 | Chipotle Mexican Grill CMG | 4.6 M | $264M | 0.98% | new |
| 31 | AppLovin APP | 2.0 M | $260M | 0.97% | −13% |
| 32 | Kranesh CSI China Internet ETF KWEB | 7.3 M | $247M | 0.92% | new |
| 33 | Eli Lilly LLY | 247,950 | $220M | 0.82% | +20% |
| 34 | UBER Technologies UBER | 2.9 M | $219M | 0.81% | −28% |
| 35 | Qualcomm QCOM | 1.2 M | $209M | 0.78% | −77% |
| 36 | Shopify SHOP | 2.5 M | $204M | 0.76% | −31% |
| 37 | iShares China Large-cap ETF FXI | 4.9 M | $157M | 0.58% | new |
| 38 | Domino’s Pizza DPZ | 322,621 | $139M | 0.52% | −9.5% |
| 39 | ResMed RMD | 473,179 | $116M | 0.43% | new |
| 40 | Alphabet GOOG | 663,296 | $111M | 0.41% | +7.5% |
| 41 | Enphase Energy ENPH | 960,700 | $109M | 0.40% | no change |
| 42 | Nextera Energy NEE | 1.1 M | $96.5M | 0.36% | +7.1% |
| 43 | Dell Technologies DELL | 767,896 | $91.0M | 0.34% | −89% |
| 44 | Generac Holdings GNRC | 559,911 | $89.0M | 0.33% | no change |
| 45 | Docusign DOCU | 1.4 M | $88.3M | 0.33% | no change |
| 46 | Atlassian TEAM | 496,131 | $78.8M | 0.29% | new |
| 47 | Sea SE | 678,308 | $64.0M | 0.24% | no change |
| 48 | Pinterest PINS | 1.7 M | $54.3M | 0.20% | no change |
| 49 | Zillow Group Z | 739,700 | $47.2M | 0.18% | no change |
| 50 | Quanta Services PWR | 134,911 | $40.2M | 0.15% | +8.7% |
| 51 | Paramount Skydance | 3.7 M | $39.1M | 0.15% | no change |
| 52 | Novo Nordisk A/s NVO | 326,363 | $38.9M | 0.14% | +892% |
| 53 | Upstart Holdings UPST | 870,947 | $34.8M | 0.13% | no change |
| 54 | UiPath PATH | 2.4 M | $31.2M | 0.12% | no change |
| 55 | KE Holdings BEKE | 1.6 M | $31.0M | 0.11% | −17% |
| 56 | Blackstone BX | 195,969 | $30.0M | 0.11% | new |
| 57 | Zillow Group ZG | 482,271 | $29.9M | 0.11% | no change |
| 58 | Novavax NVAX | 2.2 M | $28.1M | 0.10% | −15% |
| 59 | Quantumscape QS | 4.6 M | $26.2M | 0.10% | no change |
| 60 | HashiCorp HCP | 511,741 | $17.3M | 0.06% | no change |
| 61 | Medical Properties Trust MPT | 2.5 M | $14.8M | 0.05% | no change |
| 62 | RingCentral RNG | 411,351 | $13.0M | 0.05% | no change |
| 63 | Peloton Interactive PTON | 2.5 M | $11.7M | 0.04% | no change |
| 64 | Lucid Group LCID | 3.0 M | $10.4M | 0.04% | no change |
| 65 | Super Micro Computer SMCI | 24,161 | $10.1M | 0.04% | new |
| 66 | NovoCure NVCR | 608,672 | $9.5M | 0.04% | no change |
| 67 | Netease NTES | 94,336 | $8.8M | 0.03% | new |
| 68 | PLUG Power PLUG | 2.6 M | $5.9M | 0.02% | no change |
| 69 | TAL Education Group TAL | 434,673 | $5.1M | 0.02% | new |
| 70 | New Oriental Education & Technology Group EDU | 59,316 | $4.5M | 0.02% | new |
| 71 | Kanzhun BZ | 253,957 | $4.4M | 0.02% | +53% |
| 72 | ChargePoint Holdings | 3.1 M | $4.2M | 0.02% | no change |
| 73 | Olaplex Holdings | 1.3 M | $3.0M | 0.01% | no change |
| 74 | Beyond Meat BYND | 343,393 | $2.3M | 0.01% | no change |
| 75 | Stitch FIX SFIX | 790,167 | $2.2M | 0.01% | no change |
| 76 | Hertz Global Holdings HTZWW | 644,294 | $1.4M | 0.01% | no change |
| 77 | Agora API | 435,510 | $1.0M | 0.00% | no change |
| 78 | AMC Entertainment Holdings AMC | 228,136 | $1.0M | 0.00% | no change |
| 79 | Solaredge Technologies SEDG | 43,500 | $997K | 0.00% | no change |
| 80 | Nikola | 173,915 | $797K | 0.00% | no change |
| 81 | Hertz Global Holdings HTZ | 106,823 | $353K | 0.00% | no change |
Positions it closed (7)
- Salesforce CRMwas 1.91% · 1.9 M shares
- Amphenol APHwas 1.63% · 6.2 M shares
- Equinix EQIXwas 1.05% · 357,031 shares
- CrowdStrike Holdings CRWDwas 0.71% · 477,265 shares
- ASML Holding ASMLwas 0.45% · 113,431 shares
- UnitedHealth Group UNHwas 0.19% · 97,435 shares
- First Solar FSLRwas 0.03% · 34,984 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Coatue Management's 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.