Great investors · Philippe Laffont · Q3 2025
What Philippe Laffont bought and sold in Q3 2025
Coatue Management 13F portfolio as of Sep 30, 2025: 74 positions worth $40.8 bn. Largest: META, MSFT, TSM, GEV. Filed with the SEC on Nov 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 Q3 2025
- IncreasedAlphabetGOOGL+4.4 pp
- NewSynopsysSNPS+2.2 pp
- NewApplied MaterialsAMAT+1.7 pp
- NewSnowflakeSNOW+1.1 pp
- IncreasedMicrosoftMSFT+0.9 pp
- IncreasedAppLovinAPP+0.8 pp
- IncreasedOracleORCL+0.6 pp
- IncreasedMeta PlatformsMETA+0.6 pp
Sells in Q3 2025
- ReducedCoreWeaveCRWV−3.7 pp
- ReducedARM HoldingsARM−0.8 pp
- ReducedAmazon.comAMZN−0.8 pp
- ReducedNVIDIANVDA−0.7 pp
- Sold outPhilip Morris InternationalPM−0.6 pp
14 companies with material moves, out of 47 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 2025 13F lists 74 lines of US-listed securities worth $40.8 bn; the largest is META at 7.27% of the portfolio. It was accepted by the SEC on Nov 14, 2025 at 3:23 PM ET.
Against the previous quarter, it opened 10 positions (SNPS, AMAT, GOOG and SNOW and 6 more), closed 5 (PM, LLY, GNRC and YUMC and 1 more), added to 16 (GOOGL, BABA, MSFT and MRVL and 12 more) and trimmed 18 (CRWV, AMZN, NVDA and ARM and 14 more). 30 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Meta Platforms META | 4.0 M | $3.0 bn | 7.27% | +9.6% |
| 2 | Microsoft MSFT | 4.6 M | $2.4 bn | 5.90% | +18% |
| 3 | Taiwan Semiconductor Manufacturing TSM | 8.1 M | $2.3 bn | 5.53% | no change |
| 4 | GE Vernova GEV | 3.6 M | $2.2 bn | 5.48% | −3.2% |
| 5 | Amazon.com AMZN | 8.7 M | $1.9 bn | 4.71% | −14% |
| 6 | Broadcom AVGO | 5.8 M | $1.9 bn | 4.67% | +2.1% |
| 7 | Constellation Energy CEG | 5.7 M | $1.9 bn | 4.62% | −3.3% |
| 8 | NVIDIA NVDA | 9.9 M | $1.8 bn | 4.52% | −14% |
| 9 | Eaton ETN | 4.8 M | $1.8 bn | 4.40% | +2.3% |
| 10 | Alphabet GOOGL | 7.2 M | $1.8 bn | 4.30% | +259% |
| 11 | AppLovin APP | 2.3 M | $1.6 bn | 4.00% | +25% |
| 12 | Reddit RDDT | 5.9 M | $1.4 bn | 3.33% | −5% |
| 13 | Oracle ORCL | 4.8 M | $1.3 bn | 3.31% | +24% |
| 14 | Lam Research LRCX | 10.0 M | $1.3 bn | 3.27% | −5.3% |
| 15 | Spotify Technology SPOT | 1.8 M | $1.3 bn | 3.09% | +13% |
| 16 | CoreWeave CRWV | 6.7 M | $920M | 2.26% | −62% |
| 17 | Synopsys SNPS | 1.8 M | $893M | 2.19% | new |
| 18 | Tesla TSLA | 1.7 M | $769M | 1.89% | −15% |
| 19 | Nu Holdings NU | 47.3 M | $757M | 1.86% | −2.4% |
| 20 | Carvana CVNA | 2.0 M | $756M | 1.85% | +11% |
| 21 | Netflix NFLX | 618,735 | $742M | 1.82% | no change |
| 22 | Applied Materials AMAT | 3.3 M | $686M | 1.68% | new |
| 23 | DoorDash DASH | 2.5 M | $668M | 1.64% | +12% |
| 24 | Intuit INTU | 839,460 | $573M | 1.41% | −20% |
| 25 | Alphabet GOOG | 2.1 M | $509M | 1.25% | new |
| 26 | Snowflake SNOW | 2.0 M | $441M | 1.08% | new |
| 27 | First Citizens Bancshares FCNCA | 202,258 | $362M | 0.89% | −4.1% |
| 28 | Alibaba Group Holding BABA | 2.0 M | $357M | 0.87% | +130% |
| 29 | PayPal Holdings PYPL | 5.2 M | $351M | 0.86% | −25% |
| 30 | Atlassian TEAM | 2.1 M | $332M | 0.81% | −10% |
| 31 | ARM Holdings ARM | 2.3 M | $320M | 0.78% | −51% |
| 32 | Intuitive Surgical ISRG | 710,649 | $318M | 0.78% | −3.7% |
| 33 | Caris Life Sciences CAI | 10.1 M | $307M | 0.75% | no change |
| 34 | KKR KKR | 2.2 M | $290M | 0.71% | −41% |
| 35 | Hinge Health HNGE | 4.7 M | $231M | 0.57% | no change |
| 36 | Chime Financial CHYM | 10.7 M | $216M | 0.53% | no change |
| 37 | Adobe ADBE | 610,621 | $215M | 0.53% | no change |
| 38 | Advanced Micro Devices AMD | 1.2 M | $200M | 0.49% | −19% |
| 39 | Marvell Technology MRVL | 2.1 M | $175M | 0.43% | +245% |
| 40 | Webull BULL | 11.5 M | $170M | 0.42% | no change |
| 41 | Figma FIG | 3.2 M | $168M | 0.41% | new |
| 42 | Cadence Design Systems CDNS | 472,212 | $166M | 0.41% | −33% |
| 43 | Sea SE | 666,305 | $119M | 0.29% | no change |
| 44 | Chagee Holdings CHA | 6.2 M | $102M | 0.25% | no change |
| 45 | Vistra Operations VST | 512,811 | $100M | 0.25% | +7.7% |
| 46 | Skyworks Solutions SWKS | 1.3 M | $98.0M | 0.24% | no change |
| 47 | Trade Desk TTD | 1.4 M | $68.0M | 0.17% | +39% |
| 48 | Enphase Energy ENPH | 1.6 M | $58.3M | 0.14% | +95% |
| 49 | Zillow Group Z | 739,700 | $57.0M | 0.14% | no change |
| 50 | Pinterest PINS | 1.7 M | $54.0M | 0.13% | no change |
| 51 | Quantumscape QS | 4.3 M | $52.9M | 0.13% | no change |
| 52 | Medical Properties Trust MPT | 9.1 M | $45.9M | 0.11% | no change |
| 53 | Upstart Holdings UPST | 870,947 | $44.2M | 0.11% | no change |
| 54 | Novavax NVAX | 3.8 M | $33.3M | 0.08% | no change |
| 55 | UiPath PATH | 2.3 M | $30.4M | 0.07% | no change |
| 56 | Natera NTRA | 170,326 | $27.4M | 0.07% | new |
| 57 | Zillow Group ZG | 328,189 | $24.4M | 0.06% | no change |
| 58 | Peloton Interactive PTON | 2.5 M | $22.5M | 0.06% | no change |
| 59 | Klarna Group KLAR | 330,000 | $12.1M | 0.03% | new |
| 60 | RingCentral RNG | 411,351 | $11.7M | 0.03% | no change |
| 61 | PLUG Power PLUG | 4.1 M | $9.6M | 0.02% | no change |
| 62 | JOYY JOYY | 155,705 | $9.1M | 0.02% | new |
| 63 | Ishares Bitcoin Trust ETF IBIT | 132,640 | $8.6M | 0.02% | +135% |
| 64 | Lucid Group LCID | 295,393 | $7.0M | 0.02% | no change |
| 65 | Futu Holdings FUTU | 24,105 | $4.2M | 0.01% | new |
| 66 | Stitch FIX SFIX | 790,167 | $3.4M | 0.01% | no change |
| 67 | Mobileye Global MBLY | 226,558 | $3.2M | 0.01% | no change |
| 68 | Hertz Global Holdings HTZWW | 468,814 | $1.7M | 0.00% | no change |
| 69 | ChargePoint Holdings CHPT | 154,086 | $1.7M | 0.00% | new |
| 70 | Olaplex Holdings | 1.3 M | $1.7M | 0.00% | no change |
| 71 | Hertz Global Holdings HTZ | 106,823 | $726K | 0.00% | no change |
| 72 | AMC Entertainment Holdings AMC | 228,136 | $662K | 0.00% | no change |
| 73 | Beyond Meat BYND | 343,393 | $649K | 0.00% | no change |
| 74 | Agora API | 93,700 | $358K | 0.00% | no change |
Positions it closed (5)
- Philip Morris International PMwas 0.66% · 1.3 M shares
- Eli Lilly LLYwas 0.26% · 117,415 shares
- Generac Holdings GNRCwas 0.09% · 216,442 shares
- Yum China Holdings YUMCwas 0.03% · 231,346 shares
- LexinFintech Holdings LXwas 0.03% · 1.4 M 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.