Coatue

Q2 2025 13F · by Philippe Laffont, founder

As of: Jun 30, 2025
Filed: Aug 14, 2025
US stock: $35.9B · prev $22.7B
Positions: 70 · prev 70
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%

Moves64 since the prior filing

+16.8 pp in · −15.8 pp out

New 13 +8.46 pp
Added 19 +8.32 pp
Trimmed 19 −13.11 pp
Exited 13 −2.68 pp

The book

Focused · behaves like 24 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 23% a year, about 4.3 years per position

Low
Moderate
High

Top 5 positions33% of US stock

CRWV CoreWeave, Inc. Class A added+5.73 pp added+5.738.1%
META Meta Platforms, Inc. Class A trimmed−1.98 pp trimmed−1.987.6%
AMZN Amazon.Com Inc trimmed−2.81 pp trimmed−2.816.2%
GEV GE Vernova Inc. trimmed+0.48 pp trimmed+0.485.5%
MSFT Microsoft Corp added+0.04 pp added+0.045.5%

Positions70 in this filing · 13 exited


CRWVCoreWeave, Inc. Class A	8.08%	17,797,573	$2.9B	added+24%	+5.73 pp	2 q
METAMeta Platforms, Inc. Class A	7.57%	3,680,627	$2.7B	trimmed−2%	−1.98 pp	48 q
AMZNAmazon.Com Inc	6.21%	10,157,624	$2.2B	trimmed−6%	−2.81 pp	49 q
GEVGE Vernova Inc.	5.54%	3,755,260	$2.0B	trimmed−0%	+0.48 pp	5 q
MSFTMicrosoft Corp	5.45%	3,932,397	$2.0B	added+20%	+0.04 pp	16 q
CEGConstellation Energy Corporation	5.33%	5,924,294	$1.9B	trimmed−4%	−0.15 pp	6 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	5.09%	8,068,201	$1.8B	added+1%	−0.74 pp	10 q
NVDANvidia Corp	5.06%	11,488,529	$1.8B	added+34%	+0.98 pp	17 q
ETNEaton Corporation, plc	4.66%	4,687,780	$1.7B	added+5%	−0.69 pp	9 q
AVGOBroadcom Inc.	4.34%	5,647,507	$1.6B	added+58%	+1.70 pp	6 q
SPOTSpotify Technology S.A.	3.40%	1,591,167	$1.2B	added+3%	−0.34 pp	4 q
LRCXLam Research Corp	2.85%	10,507,492	$1.0B	added+28%	+0.22 pp	12 q
RDDTReddit, Inc.	2.60%	6,208,994	$935M	added+31%	+0.41 pp	3 q
ORCLOracle Corp	2.35%	3,857,262	$843M	new	+2.35 pp	new
NFLXNetFlix Inc	2.31%	618,735	$829M	held	—	49 q
INTUIntuit Inc	2.30%	1,046,096	$824M	added+59%	+0.52 pp	12 q
ARMArm Holdings plc	2.09%	4,633,454	$749M	new	+2.09 pp	new
NUNu Holdings Ltd.	1.85%	48,442,699	$665M	trimmed−13%	−0.67 pp	9 q
TSLATesla, Inc.	1.80%	2,036,991	$647M	added+24%	−0.07 pp	22 q
APPApplovin Corporation Class A	1.77%	1,815,815	$636M	trimmed−13%	−0.68 pp	11 q
CVNACarvana Co.	1.69%	1,800,055	$607M	added×3.4	+1.20 pp	2 q
DASHDoorDash, Inc. Class A	1.50%	2,186,808	$539M	added+32%	+0.17 pp	4 q
PYPLPayPal Holdings, Inc.	1.44%	6,970,822	$518M	added+33%	−0.07 pp	38 q
KKRKKR & Co. Inc.	1.39%	3,755,032	$500M	added+7%	−0.39 pp	4 q
TEAMAtlassian Corporation Class A	1.31%	2,307,886	$469M	trimmed−29%	−1.75 pp	4 q
FCNCAFirst Citizens BancShares Inc	1.15%	211,007	$413M	trimmed−5%	−0.66 pp	10 q
ISRGIntuitive Surgical Inc.	1.12%	737,579	$401M	added+6%	−0.40 pp	8 q
CHYMChime Financial, Inc. Class A	1.04%	10,821,992	$373M	new	+1.04 pp	new
GOOGLAlphabet Inc. Class A	0.99%	2,010,681	$354M	held	—	11 q
CAICaris Life Sciences, Inc.	0.75%	10,142,198	$271M	new	+0.75 pp	new
HNGEHinge Health, Inc.	0.68%	4,702,208	$243M	new	+0.68 pp	new
ADBEAdobe Inc.	0.66%	610,621	$236M	trimmed−12%	−0.51 pp	12 q
PMPhilip Morris International Inc.	0.66%	1,298,405	$236M	trimmed−17%	−0.43 pp	2 q
CDNSCadence Design Systems	0.61%	707,937	$218M	trimmed−27%	−0.48 pp	4 q
AMDAdvanced Micro Devices	0.60%	1,530,241	$217M	trimmed−53%	−0.87 pp	12 q
CHAChagee Holdings Limited	0.45%	6,174,115	$161M	new	+0.45 pp	new
BULLWebull Corporation Class A	0.38%	11,448,149	$137M	new	+0.38 pp	new
SESea Limited	0.30%	666,305	$107M	trimmed−4%	−0.10 pp	6 q
BABAAlibaba Group Holding Limited	0.27%	867,767	$98M	trimmed−77%	−1.95 pp	15 q
SWKSSkyworks Solutions Inc	0.26%	1,272,952	$95M	held	—	2 q
VSTVistra Corp.	0.26%	476,169	$92M	new	+0.26 pp	new
LLYEli Lilly & Co.	0.25%	117,415	$92M	trimmed−36%	−0.42 pp	9 q
TTDThe Trade Desk, Inc.	0.20%	998,989	$72M	new	+0.20 pp	new
PINSPinterest, Inc. Class A	0.17%	1,678,764	$60M	held	—	2 q
UPSTUpstart Holdings, Inc.	0.16%	870,947	$56M	held	—	13 q
ZZillow Group, Inc. Class C	0.14%	739,700	$52M	held	—	20 q
MRVLMarvell Technology, Inc.	0.13%	602,389	$47M	new	+0.13 pp	new
MPTMedical Properties Trust, Inc.	0.11%	9,050,796	$39M	added×2.7	+0.02 pp	2 q
ENPHEnphase Energy, Inc.	0.09%	843,948	$33M	new	+0.09 pp	new
GNRCGenerac Holdings Inc	0.09%	216,442	$31M	added+81%	+0.02 pp	2 q
QSQuantumScape Corporation Class A	0.08%	4,294,995	$29M	held	—	2 q
PATHUiPath, Inc.	0.08%	2,269,557	$29M	trimmed−7%	−0.03 pp	13 q
NVAXNovavax Inc	0.07%	3,836,986	$24M	held	—	2 q
ZGZillow Group Inc Class A	0.06%	328,189	$22M	trimmed−32%	−0.08 pp	20 q
PTONPeloton Interactive, Inc. Class A	0.05%	2,500,000	$17M	held	—	2 q
LXLexinFintech Holdings Ltd.	0.03%	1,394,026	$10M	added×4.1	+0.01 pp	3 q
RNGRingcentral, Inc.	0.03%	411,351	$12M	held	—	2 q
YUMCYum China Holdings, Inc.	0.03%	231,346	$10M	new	+0.03 pp	new
CCIVLucid Group, Inc.	0.02%	2,953,931	$6M	held	—	2 q
PLUGPlug Power Inc.	0.02%	4,098,713	$6M	held	—	2 q
unresolvedChargePoint Holdings Inc	0.01%	3,081,752	$2M	held	—	2 q
IBITiShares Bitcoin Trust ETF	0.01%	56,508	$3M	new	+0.01 pp	new
MBLYMobileye Global Inc. Class A	0.01%	226,558	$4M	held	—	2 q
SFIXStitch Fix, Inc. Class A	0.01%	790,167	$3M	held	—	2 q
AMCAmc Entertainment Holdings, Inc.	0.00%	228,136	$707,222	held	—	2 q
APIAgora, Inc.	0.00%	93,700	$356,997	trimmed−78%	−0.01 pp	10 q
BYNDBeyond Meat, Inc.	0.00%	343,393	$1M	held	—	2 q
HTZWWHertz Global Holdings	0.00%	468,814	$2M	trimmed−27%	−0.01 pp	10 q
HTZHertz Global Holdings, Inc	0.00%	106,823	$729,601	held	—	2 q
OLPXOlaplex Hldgs Inc	0.00%	1,264,968	$2M	held	—	2 q
SMCISuper Micro Computer, Inc.	—	−8,866,735	—	exited	−1.34 pp	—
MPWRMonolithic Power Systems, Inc.	—	−193,432	—	exited	−0.49 pp	—
TTANServiceTitan, Inc. Class A	—	−631,258	—	exited	−0.26 pp	—
TEMTempus AI, Inc. Class A	—	−935,562	—	exited	−0.20 pp	—
ALABAstera Labs, Inc.	—	−676,586	—	exited	−0.18 pp	—
TCOMTrip.com Group Limited	—	−222,892	—	exited	−0.06 pp	—
NVCRNovoCure Limited	—	−608,672	—	exited	−0.05 pp	—
CPNGCoupang, Inc.	—	−171,553	—	exited	−0.02 pp	—
FUTUFutu Holdings Limited	—	−37,421	—	exited	−0.02 pp	—
JDJD.com, Inc.	—	−87,778	—	exited	−0.02 pp	—
BEKEKE Holdings Inc.	—	−272,205	—	exited	−0.02 pp	—
QFINQfin Holdings, Inc.	—	−79,124	—	exited	−0.02 pp	—
SEDGSolarEdge Technologies, Inc.	—	−43,500	—	exited	0.00 pp	—