Coatue shuffles tech bets in second quarter, buys Amazon and JD.com
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Hedge fund manager Philippe Laffont’s Coatue Management shifted hundreds of millions of dollars between major tech stocks in the second quarter, according to securities filings. Laffont, one of the so-called Tiger Cub hedge fund managers who previously worked under famed hedge fund manager Julian Robertson, trimmed his holdings in several major positions — including top holding Tesla — while making large additional buys in Amazon and JD.com . The chart below shows Coatue’s top holdings as of the end of June and the change in shares held by the fund during the second quarter. *Total Amazon position reflects new purchases and 20-for-1 stock split. Other significant sales from Coatue included Microsoft and Facebook-parent Meta Platforms , though both remain among Coatue’s top 10 holdings. The fund also sold more than 80% of its shares in DoorDash and more than 90% of its stake in Roblox . In keeping with Coatue’s larger positions in Amazon and JD.com, the fund also initiated a small position in South American e-commerce company Mercadolibre and grew its stake in Alibaba to roughly $188 million. Coatue created many new positions, all worth under $100 million. Some of the notable additions include Monday.com , Upstart Holdings , UiPath and SoFi . Outside of traditional tech, Coatue also slashed its holdings in Visa and Peloton . The quarterly hedge fund filings do not show short sales or many other options positions, so it is unclear what Coatue’s full exposure is to tech stocks. The filings do not say when and at what price trades were made.
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