Great investors · Philippe Laffont · Q2 2025
What Philippe Laffont bought and sold in Q2 2025
Coatue Management 13F portfolio as of Jun 30, 2025: 70 positions worth $35.9 bn. Largest: CRWV, META, AMZN, GEV. Filed with the SEC on Aug 14, 2025.
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 Q2 2025
- NewOracleORCL+2.3 pp
- NewARM HoldingsARM+2.1 pp
- IncreasedBroadcomAVGO+1.6 pp
- IncreasedCoreWeaveCRWV+1.5 pp
- IncreasedNVIDIANVDA+1.3 pp
- IncreasedCarvanaCVNA+1.2 pp
- IncreasedMicrosoftMSFT+0.9 pp
- IncreasedIntuitINTU+0.8 pp
- IncreasedLam ResearchLRCX+0.6 pp
- IncreasedRedditRDDT+0.6 pp
Sells in Q2 2025
- ReducedAlibaba Group HoldingBABA−0.9 pp
- Sold outSuper Micro ComputerSMCI−0.8 pp
- ReducedAdvanced Micro DevicesAMD−0.7 pp
- ReducedAtlassianTEAM−0.5 pp
14 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 Q2 2025 13F lists 70 lines of US-listed securities worth $35.9 bn; the largest is CRWV at 8.08% of the portfolio. It was accepted by the SEC on Aug 14, 2025 at 12:37 PM ET.
Against the previous quarter, it opened 13 positions (ORCL, ARM, CHYM and CAI and 9 more), closed 13 (SMCI, MPWR, TTAN and TEM and 9 more), added to 19 (CVNA, AVGO, CRWV and NVDA and 15 more) and trimmed 18 (TEAM, AMZN, AMD and NU and 14 more). 20 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | CoreWeave CRWV | 17.8 M | $2.9 bn | 8.08% | +24% |
| 2 | Meta Platforms META | 3.7 M | $2.7 bn | 7.57% | −2% |
| 3 | Amazon.com AMZN | 10.2 M | $2.2 bn | 6.21% | −5.5% |
| 4 | GE Vernova GEV | 3.8 M | $2.0 bn | 5.54% | no change |
| 5 | Microsoft MSFT | 3.9 M | $2.0 bn | 5.45% | +20% |
| 6 | Constellation Energy CEG | 5.9 M | $1.9 bn | 5.33% | −4% |
| 7 | Taiwan Semiconductor Manufacturing TSM | 8.1 M | $1.8 bn | 5.09% | +1.4% |
| 8 | NVIDIA NVDA | 11.5 M | $1.8 bn | 5.06% | +34% |
| 9 | Eaton ETN | 4.7 M | $1.7 bn | 4.66% | +5% |
| 10 | Broadcom AVGO | 5.6 M | $1.6 bn | 4.34% | +58% |
| 11 | Spotify Technology SPOT | 1.6 M | $1.2 bn | 3.40% | +3.2% |
| 12 | Lam Research LRCX | 10.5 M | $1.0 bn | 2.85% | +28% |
| 13 | Reddit RDDT | 6.2 M | $935M | 2.60% | +31% |
| 14 | Oracle ORCL | 3.9 M | $843M | 2.35% | new |
| 15 | Netflix NFLX | 618,735 | $829M | 2.31% | no change |
| 16 | Intuit INTU | 1.0 M | $824M | 2.30% | +59% |
| 17 | ARM Holdings ARM | 4.6 M | $749M | 2.09% | new |
| 18 | Nu Holdings NU | 48.4 M | $665M | 1.85% | −13% |
| 19 | Tesla TSLA | 2.0 M | $647M | 1.80% | +24% |
| 20 | AppLovin APP | 1.8 M | $636M | 1.77% | −13% |
| 21 | Carvana CVNA | 1.8 M | $607M | 1.69% | +236% |
| 22 | DoorDash DASH | 2.2 M | $539M | 1.50% | +32% |
| 23 | PayPal Holdings PYPL | 7.0 M | $518M | 1.44% | +33% |
| 24 | KKR KKR | 3.8 M | $500M | 1.39% | +7.3% |
| 25 | Atlassian TEAM | 2.3 M | $469M | 1.31% | −29% |
| 26 | First Citizens Bancshares FCNCA | 211,007 | $413M | 1.15% | −4.6% |
| 27 | Intuitive Surgical ISRG | 737,579 | $401M | 1.12% | +5.7% |
| 28 | Chime Financial CHYM | 10.8 M | $373M | 1.04% | new |
| 29 | Alphabet GOOGL | 2.0 M | $354M | 0.99% | no change |
| 30 | Caris Life Sciences CAI | 10.1 M | $271M | 0.75% | new |
| 31 | Hinge Health HNGE | 4.7 M | $243M | 0.68% | new |
| 32 | Philip Morris International PM | 1.3 M | $236M | 0.66% | −17% |
| 33 | Adobe ADBE | 610,621 | $236M | 0.66% | −12% |
| 34 | Cadence Design Systems CDNS | 707,937 | $218M | 0.61% | −27% |
| 35 | Advanced Micro Devices AMD | 1.5 M | $217M | 0.60% | −53% |
| 36 | Chagee Holdings CHA | 6.2 M | $161M | 0.45% | new |
| 37 | Webull BULL | 11.4 M | $137M | 0.38% | new |
| 38 | Sea SE | 666,305 | $107M | 0.30% | −4.4% |
| 39 | Alibaba Group Holding BABA | 867,767 | $98.4M | 0.27% | −77% |
| 40 | Skyworks Solutions SWKS | 1.3 M | $94.9M | 0.26% | no change |
| 41 | Vistra Operations VST | 476,169 | $92.3M | 0.26% | new |
| 42 | Eli Lilly LLY | 117,415 | $91.5M | 0.26% | −36% |
| 43 | Trade Desk TTD | 998,989 | $71.9M | 0.20% | new |
| 44 | Pinterest PINS | 1.7 M | $60.2M | 0.17% | no change |
| 45 | Upstart Holdings UPST | 870,947 | $56.3M | 0.16% | no change |
| 46 | Zillow Group Z | 739,700 | $51.8M | 0.14% | no change |
| 47 | Marvell Technology MRVL | 602,389 | $46.6M | 0.13% | new |
| 48 | Medical Properties Trust MPT | 9.1 M | $39.0M | 0.11% | +173% |
| 49 | Enphase Energy ENPH | 843,948 | $33.5M | 0.09% | new |
| 50 | Generac Holdings GNRC | 216,442 | $31.0M | 0.09% | +81% |
| 51 | UiPath PATH | 2.3 M | $29.1M | 0.08% | −6.8% |
| 52 | Quantumscape QS | 4.3 M | $28.9M | 0.08% | no change |
| 53 | Novavax NVAX | 3.8 M | $24.2M | 0.07% | no change |
| 54 | Zillow Group ZG | 328,189 | $22.5M | 0.06% | −32% |
| 55 | Peloton Interactive PTON | 2.5 M | $17.4M | 0.05% | no change |
| 56 | RingCentral RNG | 411,351 | $11.7M | 0.03% | no change |
| 57 | Yum China Holdings YUMC | 231,346 | $10.3M | 0.03% | new |
| 58 | LexinFintech Holdings LX | 1.4 M | $10.1M | 0.03% | +309% |
| 59 | Lucid Group LCID | 3.0 M | $6.2M | 0.02% | no change |
| 60 | PLUG Power PLUG | 4.1 M | $6.1M | 0.02% | no change |
| 61 | Mobileye Global MBLY | 226,558 | $4.1M | 0.01% | no change |
| 62 | Ishares Bitcoin Trust ETF IBIT | 56,508 | $3.5M | 0.01% | new |
| 63 | Stitch FIX SFIX | 790,167 | $2.9M | 0.01% | no change |
| 64 | ChargePoint Holdings | 3.1 M | $2.2M | 0.01% | no change |
| 65 | Olaplex Holdings | 1.3 M | $1.8M | 0.00% | no change |
| 66 | Hertz Global Holdings HTZWW | 468,814 | $1.7M | 0.00% | −27% |
| 67 | Beyond Meat BYND | 343,393 | $1.2M | 0.00% | no change |
| 68 | Hertz Global Holdings HTZ | 106,823 | $730K | 0.00% | no change |
| 69 | AMC Entertainment Holdings AMC | 228,136 | $707K | 0.00% | no change |
| 70 | Agora API | 93,700 | $357K | 0.00% | −78% |
Positions it closed (13)
- Super Micro Computer SMCIwas 1.34% · 8.9 M shares
- Monolithic Power Systems MPWRwas 0.49% · 193,432 shares
- ServiceTitan TTANwas 0.26% · 631,258 shares
- Tempus AI TEMwas 0.20% · 935,562 shares
- Astera Labs ALABwas 0.18% · 676,586 shares
- Trip.com Group TCOMwas 0.06% · 222,892 shares
- NovoCure NVCRwas 0.05% · 608,672 shares
- KE Holdings BEKEwas 0.02% · 272,205 shares
- Futu Holdings FUTUwas 0.02% · 37,421 shares
- Coupang CPNGwas 0.02% · 171,553 shares
- JD.com JDwas 0.02% · 87,778 shares
- Qfin Holdings QFINwas 0.02% · 79,124 shares
- Solaredge Technologies SEDGwas 0.00% · 43,500 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.