Coatue

Q1 2025 13F · by Philippe Laffont, founder

As of: Mar 31, 2025
Filed: May 15, 2025
US stock: $22.7B · prev $29.7B
Positions: 70 · prev 68
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves86 since the prior filing

+17.4 pp in · −17.9 pp out

New 24 +6.00 pp
Added 18 +11.40 pp
Trimmed 22 −5.33 pp
Exited 22 −12.54 pp

The book

Focused · behaves like 23 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 47% a year, about 2.1 years per position

Low
Moderate
High

Top 5 positions35% of US stock

Positions70 in this filing · 22 exited


METAMeta Platforms, Inc. Class A	9.55%	3,757,611	$2.2B	added+2%	+2.28 pp	47 q
AMZNAmazon.Com Inc	9.02%	10,753,808	$2.0B	added+1%	+1.13 pp	48 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	5.83%	7,960,037	$1.3B	trimmed−20%	−0.80 pp	9 q
CEGConstellation Energy Corporation	5.48%	6,168,714	$1.2B	trimmed−7%	+0.48 pp	5 q
MSFTMicrosoft Corp	5.41%	3,269,324	$1.2B	trimmed−7%	+0.40 pp	15 q
ETNEaton Corporation, plc	5.35%	4,466,442	$1.2B	added0%	+0.37 pp	8 q
GEVGE Vernova Inc.	5.06%	3,759,960	$1.1B	trimmed−3%	+0.78 pp	4 q
NVDANvidia Corp	4.08%	8,545,835	$926M	trimmed−15%	−0.45 pp	16 q
SPOTSpotify Technology S.A.	3.74%	1,541,982	$848M	added+22%	+1.83 pp	3 q
TEAMAtlassian Corporation Class A	3.06%	3,270,085	$694M	trimmed−8%	+0.16 pp	3 q
AVGOBroadcom Inc.	2.64%	3,572,240	$598M	added+1%	−0.11 pp	5 q
LRCXLam Research Corp	2.63%	8,209,569	$597M	added×2.0	+1.65 pp	11 q
NFLXNetFlix Inc	2.54%	618,735	$577M	trimmed−11%	+0.45 pp	48 q
NUNu Holdings Ltd.	2.52%	55,791,997	$571M	trimmed−30%	−0.26 pp	8 q
APPApplovin Corporation Class A	2.45%	2,096,154	$555M	trimmed−9%	−0.06 pp	10 q
CRWVCoreWeave, Inc. Class A	2.35%	14,402,999	$534M	new	+2.35 pp	new
BABAAlibaba Group Holding Limited	2.22%	3,801,703	$503M	added×19.7	+2.16 pp	14 q
RDDTReddit, Inc.	2.19%	4,745,900	$498M	trimmed−27%	−1.41 pp	2 q
TSLATesla, Inc.	1.87%	1,639,969	$425M	trimmed−24%	−1.08 pp	21 q
FCNCAFirst Citizens BancShares Inc	1.81%	221,219	$410M	added+1%	+0.25 pp	9 q
INTUIntuit Inc	1.78%	658,864	$405M	added+20%	+0.62 pp	11 q
KKRKKR & Co. Inc.	1.78%	3,498,217	$404M	added+31%	+0.45 pp	3 q
ISRGIntuitive Surgical Inc.	1.52%	698,067	$346M	trimmed−28%	−0.19 pp	7 q
PYPLPayPal Holdings, Inc.	1.51%	5,237,984	$342M	trimmed−34%	−0.78 pp	37 q
AMDAdvanced Micro Devices	1.47%	3,240,171	$333M	trimmed−24%	−0.26 pp	11 q
GOOGLAlphabet Inc. Class A	1.37%	2,010,681	$311M	trimmed−38%	−0.69 pp	10 q
SMCISuper Micro Computer, Inc.	1.34%	8,866,735	$304M	held	—	3 q
DASHDoorDash, Inc. Class A	1.33%	1,652,193	$302M	trimmed−36%	−0.14 pp	3 q
ADBEAdobe Inc.	1.17%	694,032	$266M	trimmed−61%	−1.47 pp	11 q
CDNSCadence Design Systems	1.09%	970,777	$247M	added+21%	+0.28 pp	3 q
PMPhilip Morris International Inc.	1.09%	1,555,900	$247M	new	+1.09 pp	new
LLYEli Lilly & Co.	0.67%	183,721	$152M	trimmed−14%	+0.11 pp	8 q
CVNACarvana Co.	0.49%	535,333	$112M	new	+0.49 pp	new
MPWRMonolithic Power Systems, Inc.	0.49%	193,432	$112M	new	+0.49 pp	new
SESea Limited	0.40%	696,609	$91M	added+3%	+0.16 pp	5 q
SWKSSkyworks Solutions Inc	0.36%	1,272,952	$82M	new	+0.36 pp	new
TTANServiceTitan, Inc. Class A	0.26%	631,258	$60M	held	—	2 q
PINSPinterest, Inc. Class A	0.23%	1,678,764	$52M	new	+0.23 pp	new
ZZillow Group, Inc. Class C	0.22%	739,700	$51M	added×2.0	+0.13 pp	19 q
TEMTempus AI, Inc. Class A	0.20%	935,562	$45M	new	+0.20 pp	new
ALABAstera Labs, Inc.	0.18%	676,586	$40M	new	+0.18 pp	new
UPSTUpstart Holdings, Inc.	0.18%	870,947	$40M	added×2.5	+0.11 pp	12 q
ZGZillow Group Inc Class A	0.14%	482,271	$32M	added+52%	+0.06 pp	19 q
NVAXNovavax Inc	0.11%	3,836,986	$25M	new	+0.11 pp	new
PATHUiPath, Inc.	0.11%	2,436,400	$25M	held	—	12 q
MPTMedical Properties Trust, Inc.	0.09%	3,318,885	$20M	new	+0.09 pp	new
QSQuantumScape Corporation Class A	0.08%	4,294,995	$18M	new	+0.08 pp	new
GNRCGenerac Holdings Inc	0.07%	119,628	$15M	new	+0.07 pp	new
PTONPeloton Interactive, Inc. Class A	0.07%	2,500,000	$16M	new	+0.07 pp	new
TCOMTrip.com Group Limited	0.06%	222,892	$14M	new	+0.06 pp	new
NVCRNovoCure Limited	0.05%	608,672	$11M	held	—	8 q
RNGRingcentral, Inc.	0.04%	411,351	$10M	new	+0.04 pp	new
CCIVLucid Group, Inc.	0.03%	2,953,931	$7M	new	+0.03 pp	new
CPNGCoupang, Inc.	0.02%	171,553	$4M	added+14%	+0.01 pp	2 q
FUTUFutu Holdings Limited	0.02%	37,421	$4M	trimmed−71%	−0.01 pp	2 q
JDJD.com, Inc.	0.02%	87,778	$4M	trimmed−86%	−0.05 pp	16 q
BEKEKE Holdings Inc.	0.02%	272,205	$5M	trimmed−78%	−0.06 pp	15 q
LXLexinFintech Holdings Ltd.	0.02%	340,639	$3M	trimmed−73%	0.00 pp	2 q
PLUGPlug Power Inc.	0.02%	4,098,713	$6M	new	+0.02 pp	new
QFINQfin Holdings, Inc.	0.02%	79,124	$4M	added+74%	+0.01 pp	2 q
APIAgora, Inc.	0.01%	435,510	$2M	held	—	9 q
unresolvedChargePoint Holdings Inc	0.01%	3,081,752	$2M	new	+0.01 pp	new
HTZWWHertz Global Holdings	0.01%	644,294	$1M	added×3.7	+0.01 pp	9 q
MBLYMobileye Global Inc. Class A	0.01%	226,558	$3M	new	+0.01 pp	new
OLPXOlaplex Hldgs Inc	0.01%	1,264,968	$2M	new	+0.01 pp	new
SFIXStitch Fix, Inc. Class A	0.01%	790,167	$3M	new	+0.01 pp	new
AMCAmc Entertainment Holdings, Inc.	0.00%	228,136	$654,750	new	0.00 pp	new
BYNDBeyond Meat, Inc.	0.00%	343,393	$1M	new	0.00 pp	new
HTZHertz Global Holdings, Inc	0.00%	106,823	$420,883	new	0.00 pp	new
SEDGSolarEdge Technologies, Inc.	0.00%	43,500	$703,830	held	—	4 q
VRTVertiv Holdings Co Class A	—	−6,375,917	—	exited	−2.44 pp	—
VSTVistra Corp.	—	−2,967,631	—	exited	−1.38 pp	—
NOWServicenow, Inc.	—	−369,342	—	exited	−1.32 pp	—
SCHWThe Charles Schwab Corporation	—	−4,510,020	—	exited	−1.12 pp	—
SHOPShopify Inc. Class A subordinate voting shares	—	−2,547,675	—	exited	−0.91 pp	—
HUBSHubspot, Inc.	—	−373,280	—	exited	−0.88 pp	—
QCOMQualcomm Inc	—	−1,230,343	—	exited	−0.64 pp	—
UBERUber Technologies, Inc.	—	−2,910,927	—	exited	−0.59 pp	—
AFRMAffirm Holdings, Inc. Class A	—	−2,633,442	—	exited	−0.54 pp	—
DPZDomino's Pizza Inc.	—	−322,621	—	exited	−0.46 pp	—
DOCUDocuSign, Inc.	—	−1,343,053	—	exited	−0.41 pp	—
OKTAOkta, Inc. Class A	—	−1,254,080	—	exited	−0.33 pp	—
DDOGDatadog, Inc. Class A	—	−669,972	—	exited	−0.32 pp	—
DELLDell Technologies Inc.	—	−767,896	—	exited	−0.30 pp	—
GOOGAlphabet Inc. Class C	—	−403,298	—	exited	−0.26 pp	—
MNDYmonday.com Ltd.	—	−293,474	—	exited	−0.23 pp	—
PWRQuanta Services, Inc.	—	−134,911	—	exited	−0.14 pp	—
PARAParamount Global-class B	—	−2,678,629	—	exited	−0.09 pp	—
HCPHashiCorp, Inc. Class A	—	−511,741	—	exited	−0.06 pp	—
PDDPDD Holdings Inc.	—	−184,628	—	exited	−0.06 pp	—
KWEBKraneShares CSI China Internet ETF	—	−301,743	—	exited	−0.03 pp	—
MRNAModerna, Inc.	—	−191,074	—	exited	−0.03 pp	—