Philippe Laffont
FOLLOWCoatue Management
MIT-trained technologist running a $40B concentrated tech fund with the strongest AGI awareness in this group and genuine technical understanding of AI, making him the best source for AGI-relevant investment ideas despite growth-over-value bias.
Tiger Cubs & Successors
Current Portfolio
2025-Q4 · 257 positions · Filed 2026-02-17
| # | Ticker | Value | Weight |
|---|---|---|---|
| 1 | META | $1.7B | 4.3% Est. ~3.6% of total |
| 2 | AMZN | $1.5B | 3.8% Est. ~3.2% of total |
| 3 | MSFT | $1.2B | 3.0% Est. ~2.6% of total |
| 4 | NVDA | $1.2B | 3.0% Est. ~2.6% of total |
| 5 | GEV | $1.1B | 2.8% Est. ~2.3% of total |
| 6 | TAIWAN SEMICONDUCTOR | $1.0B | 2.6% Est. ~2.2% of total |
| 7 | GOOGL | $1.0B | 2.6% Est. ~2.2% of total |
| 8 | BRK.B | $1.0B | 2.5% Est. ~2.2% of total |
| 9 | CEG | $926.6M | 2.3% Est. ~2.0% of total |
| 10 | SPOT | $831.4M | 2.1% Est. ~1.8% of total |
| 11 | RDDT | $825.7M | 2.1% Est. ~1.8% of total |
| 12 | LRCX | $821.8M | 2.1% Est. ~1.8% of total |
| 13 | APP | $777.2M | 1.9% Est. ~1.6% of total |
| 14 | ETN | $766.4M | 1.9% Est. ~1.6% of total |
| 15 | MSFT | $746.7M | 1.9% Est. ~1.6% of total |
| 16 | G6683N103 | $736.6M | 1.8% Est. ~1.6% of total |
| 17 | TAIWAN SEMICONDUCTOR | $732.8M | 1.8% Est. ~1.6% of total |
| 18 | GOOGL | $684.4M | 1.7% Est. ~1.5% of total |
| 19 | TSLA | $650.7M | 1.6% Est. ~1.4% of total |
| 20 | APPLIED MATLS | $590.0M | 1.5% Est. ~1.3% of total |
Allocation
Non-US Holdings
Estimated ~15% of total portfolio is outside US-listed securities
$50.0B
Est. Total AUM
$40.0B
US 13F Value
15%
Non-US Estimate
| Company | Country | Est. Value |
|---|---|---|
| Asian tech equities | Asia | $2.0B |
| European tech positions | Europe | $1.0B |
Coatue Management (Philippe Laffont) is a Tiger Cub tech-focused hedge fund with ~$50B AUM across public and private investments. The 13F captures the US public equity book. Coatue also has private/venture investments and some non-US public equity positions, especially in Asian tech. However, the public equity book is predominantly US-listed.
Sources: 13F filings, Form ADV, Media reports
Recent Changes
2025-Q4 vs 2025-Q3Portfolio -2.0%
| Action | Ticker | Shares Change | Value Change |
|---|---|---|---|
| NEW | MTZ | +678K | +$147.4M |
| NEW | VRT | +829K | +$134.3M |
| NEW | ROCKET COS | +6.7M | +$130.6M |
| NEW | AXON | +155K | +$88.2M |
| NEW | INFY | +4.6M | +$81.5M |
| NEW | CHRW | +341K | +$54.8M |
| NEW | EXPEDITORS INTL | +366K | +$54.5M |
| NEW | GENERAC HLDGS | +369K | +$50.3M |
| NEW | SPROUTS FMRS | +602K | +$48.0M |
| NEW | SPGI | +63K | +$33.2M Est. bought $472.05–$530.1 |
| NEW | MCO | +64K | +$32.8M Est. bought $468.56–$520.04 |
| NEW | NAVN | +599K | +$10.2M |
| NEW | MRNA | +200K | +$5.9M |
| SOLD | CRWV | -6.7M(-100%) | $-920.3M |
| SOLD | ISRG | -839K(-100%) | $-573.3M |
| SOLD | ALIBABA GROUP | -2.0M(-100%) | $-356.9M |
| SOLD | TEAM | -2.1M(-100%) | $-331.7M |
| SOLD | KKRT | -2.2M(-100%) | $-289.9M |
| SOLD | HNGE | -4.7M(-100%) | $-230.8M |
| SOLD | FIG | -3.2M(-100%) | $-167.7M |
| SOLD | CADENCE DESIGN | -472K(-100%) | $-165.9M |
| SOLD | SE | -666K(-100%) | $-119.1M |
| SOLD | VST | -513K(-100%) | $-100.5M |
| SOLD | SWKS | -1.3M(-100%) | $-98.0M |
| SOLD | THE TRADE | -1.4M(-100%) | $-68.0M |
| SOLD | ENPH | -1.6M(-100%) | $-58.3M |
| SOLD | Z | -740K(-100%) | $-57.0M |
| SOLD | PINS | -1.7M(-100%) | $-54.0M |
| SOLD | UPSTART HLDGS | -871K(-100%) | $-44.2M |
| SOLD | NVAX | -3.8M(-100%) | $-33.3M |
| SOLD | PATH | -2.3M(-100%) | $-30.4M |
| SOLD | Z | -328K(-100%) | $-24.4M |
| SOLD | PTON | -2.5M(-100%) | $-22.5M |
| SOLD | KLAR | -330K(-100%) | $-12.1M |
| SOLD | RNG | -411K(-100%) | $-11.7M |
| SOLD | PLUG | -4.1M(-100%) | $-9.6M |
| SOLD | JOYY | -156K(-100%) | $-9.1M |
| SOLD | LCID | -295K(-100%) | $-7.0M |
| SOLD | FUTU HLDGS | -24K(-100%) | $-4.2M |
| SOLD | SFIX | -790K(-100%) | $-3.4M |
| SOLD | MBLY | -227K(-100%) | $-3.2M |
| SOLD | HERTZ GLOBAL | -469K(-100%) | $-1.7M |
| SOLD | CHPT | -154K(-100%) | $-1.7M |
| SOLD | OLAPLEX HLDGS | -1.3M(-100%) | $-1.7M |
| SOLD | HERTZ GLOBAL | -107K(-100%) | $-726.4K |
| SOLD | AMC ENTMT | -228K(-100%) | $-661.6K |
| SOLD | BYND | -343K(-100%) | $-649.0K |
| SOLD | API | -94K(-100%) | $-357.9K |
| INCREASED | APPLIED MATLS | +2.6M(+79%) | +$852.2M |
| INCREASED | NTRA | +2.5M(+1446%) | +$575.9M |
| INCREASED | AMZN | +1.2M(+14%) | +$372.8M Est. bought $213.04–$254 |
| INCREASED | TAIWAN SEMICONDUCTOR | +557K(+7%) | +$367.8M |
| INCREASED | DASH | +1.9M(+78%) | +$321.0M Est. bought $187.73–$281.74 |
| INCREASED | NFLX | +10.2M(+1655%) | +$276.5M Est. bought $92.71–$124.14 |
| INCREASED | CEG | +181K(+3%) | +$202.6M Est. bought $335.74–$403.95 |
| INCREASED | SPOT | +648K(+36%) | +$164.6M Est. bought $557.17–$707.3 |
| INCREASED | ISRG | +97K(+14%) | +$139.4M Est. bought $429.59–$579.83 |
| INCREASED | SNOW | +525K(+27%) | +$102.9M Est. bought $215.28–$277.14 |
| INCREASED | MSFT | +529K(+11%) | +$96.4M Est. bought $472.12–$542.07 |
| INCREASED | ADBE | +264K(+43%) | +$90.5M |
| INCREASED | ARM | +40K(+2%) | $-68.3M |
| DECREASED | ORCL-PD | -356K(-7%) | $-483.5M |
| DECREASED | META | -254K(-6%) | $-467.3M |
| DECREASED | GOOGL | -380K(-5%) | +$385.9M |
| DECREASED | LRCX | -149K(-2%) | +$345.6M |
| DECREASED | ETN | -74K(-2%) | $-290.7M |
| DECREASED | PAYPAL HLDGS | -3.5M(-68%) | $-252.2M |
| DECREASED | BULLW | -11.4M(-99%) | $-169.8M |
| DECREASED | APP | -82K(-4%) | $-156.7M |
| DECREASED | NVDA | -667K(-7%) | $-125.3M |
| DECREASED | GOOG | -91K(-4%) | +$118.4M |
| DECREASED | SNPS | -153K(-8%) | $-114.5M |
| DECREASED | RDDT | -347K(-6%) | $-80.5M |
| DECREASED | CVNA | -45K(-2%) | +$70.7M |
| DECREASED | CHAGEE HLDGS | -3.0M(-49%) | $-65.3M |
| DECREASED | FIRST CTZNS | -63K(-31%) | $-62.5M |
| DECREASED | CAI | -322K(-3%) | $-41.9M |
| DECREASED | CHIME FINL | -644K(-6%) | +$37.4M |
| DECREASED | GEV | -264K(-7%) | $-32.0M |
| DECREASED | TSLA | -88K(-5%) | $-30.8M |
| DECREASED | MEDICAL PPTYS | -4.5M(-50%) | $-23.3M |
| DECREASED | QS | -600K(-14%) | $-14.4M |
| DECREASED | G6683N103 | -1.5M(-3%) | +$8.6M |
| DECREASED | IBIT | -65K(-49%) | $-5.3M |
| DECREASED | BRK.B | -257K(-4%) | +$4.3M |
Score Breakdown
Investment Philosophy & Portfolio Style
Philosophy
Technology-focused, research-intensive investing with a strong emphasis on understanding technological disruption. Laffont's approach: (1) Deep technology expertise -- his MIT engineering background gives him genuine technical understanding of the companies he invests in, (2) Technology sector focus -- Coatue is primarily a technology investor, which has been both its strength and risk, (3) High conviction -- top 10 holdings represent 83.4% of portfolio, (4) Disruption-forward -- Coatue specifically looks for companies driving or benefiting from technological disruption, (5) Both public and private investing -- significant venture capital activity alongside the hedge fund, (6) AI/AGI thesis -- Coatue has been one of the most vocal institutional investors on the AI theme, with Laffont frequently discussing AI's transformative potential. The approach combines deep tech understanding with aggressive position sizing in conviction ideas.
Portfolio Style
Highly concentrated technology-focused portfolio. 52 equity holdings with top 10 representing 83.4% of portfolio. AUM approximately $40.0B (13F), making it one of the largest tech-focused funds. Predominantly technology sector with some exposure to adjacent sectors (fintech, healthcare tech, consumer tech). Active in both public markets and private venture investing. Uses long and short strategies. Q4 2025 showed -0.81% return. The portfolio is essentially a concentrated bet on technology leadership and disruption themes.
Background
Philippe Laffont (born 1968 in France) founded Coatue Management in 1999 in New York City. He is the brother of Jean-Marie Eveillard (value investing legend) -- correction: Laffont worked at Tiger Management under Julian Robertson before starting Coatue. He graduated from MIT (BS in Electrical Engineering and Computer Science) and holds strong technical credentials unusual among hedge fund managers. This technical background has been central to Coatue's investment approach. Coatue has grown to manage approximately $40.0 billion in 13F-reported assets as of Q4 2025, making it one of the largest technology-focused hedge funds in the world. The firm has also built a significant venture capital arm, similar to Tiger Global. Net worth estimated at $5-7 billion.
Track Record
Strong long-term track record, particularly impressive given the technology sector focus. Coatue has delivered estimated 15-18% annualized returns since inception in 1999. Key aspects: (1) Navigated the 2000 tech bubble relatively well despite being tech-focused, (2) Strong performance through the 2010s tech bull market, (3) 2022 was likely challenging given heavy tech concentration, but Coatue's diversification within tech (not just high-growth) and shorting capability likely limited losses relative to Tiger Global, (4) Has maintained strong returns while scaling to $40B AUM, which is impressive, (5) The venture capital arm adds additional return potential (and risk). Laffont's technical background has given Coatue an edge in understanding technology companies that pure financial analysts lack.
Notable Holdings
As of Q4 2025 (13F), Coatue's $40B portfolio is concentrated in technology leaders. Historical and likely current top holdings include Meta Platforms (META), Nvidia (NVDA), Taiwan Semiconductor (TSM), Microsoft (MSFT), Amazon (AMZN), and other AI/technology leaders. Coatue has been one of the most prominent investors in the AI theme, with significant positions in semiconductor and AI infrastructure companies alongside platform companies. The portfolio reads as a concentrated bet on the AI/technology ecosystem.
Transparency & Integrity
Transparency(Score: 6/10)
Moderate transparency through 13F filings. Coatue has been more publicly vocal about investment themes than most hedge funds, particularly around AI/technology. Laffont gives presentations at conferences and has shared Coatue's AI thesis publicly. The 13F filings with 52 holdings provide good visibility into the public portfolio. However, private investments are not disclosed, and the short book is not visible. More transparent on themes/philosophy than most hedge funds, but standard on specific holdings.
Integrity(Score: 7/10)
Strong integrity record. No fraud, insider trading, or regulatory scandals. Laffont is known as a serious, technically-minded investor who avoids flashy behavior. The firm's growth from $0 to $40B has been steady and organic. Concerns: (1) Like Tiger Global, Coatue's venture arm deployed capital aggressively during 2020-2021, which raised questions about discipline, (2) The rapid growth of AUM could indicate fee-maximization over return-maximization, though performance has remained strong. Overall, a clean record with minor concerns about venture deployment pace.
Relevance to Us
High relevance -- the most AGI-aware investor in this group. Positives: (1) Laffont's MIT engineering background gives him genuine technical understanding of AI/AGI, not just financial analysis, (2) Coatue's portfolio is essentially an AGI beneficiary portfolio -- heavy in AI infrastructure, platforms, and semiconductors, (3) High concentration (83.4% in top 10) aligns with our conviction-based approach, (4) Laffont has publicly articulated an AI thesis that aligns with our AGI-by-2030 assumption, (5) The technical expertise means Coatue's technology picks are informed by real understanding, not just momentum. Negatives: (1) Growth/momentum bias rather than downside protection, (2) Uses shorts and venture investing unlike our approach, (3) $40B AUM means positions are in mega-cap tech (limited to companies we could analyze ourselves), (4) No visible concern for 'floor price' or downside protection. Coatue is the best source in this group for AGI-relevant investment ideas and technology thesis validation.