Coatue

Q3 2025 13F · by Philippe Laffont, founder

As of: Sep 30, 2025
Filed: Nov 14, 2025
US stock: $40.8B · prev $35.9B
Positions: 74 · 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%

Moves54 since the prior filing

+14.8 pp in · −13.8 pp out

New 10 +6.74 pp
Added 18 +8.10 pp
Trimmed 20 −12.76 pp
Exited 6 −1.07 pp

The book

Focused · behaves like 27 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 39% a year, about 2.6 years per position

Low
Moderate
High

Top 5 positions29% of US stock

Positions74 in this filing · 6 exited


METAMeta Platforms, Inc. Class A	7.27%	4,035,717	$3.0B	added+10%	−0.30 pp	49 q
MSFTMicrosoft Corp	5.90%	4,643,050	$2.4B	added+18%	+0.45 pp	17 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	5.53%	8,072,536	$2.3B	added0%	+0.44 pp	11 q
GEVGE Vernova Inc.	5.48%	3,634,166	$2.2B	trimmed−3%	−0.06 pp	6 q
AMZNAmazon.Com Inc	4.71%	8,743,095	$1.9B	trimmed−14%	−1.50 pp	50 q
AVGOBroadcom Inc.	4.66%	5,767,559	$1.9B	added+2%	+0.32 pp	7 q
CEGConstellation Energy Corporation	4.62%	5,725,963	$1.9B	trimmed−3%	−0.71 pp	7 q
NVDANvidia Corp	4.52%	9,870,743	$1.8B	trimmed−14%	−0.54 pp	18 q
ETNEaton Corporation, plc	4.40%	4,794,777	$1.8B	added+2%	−0.26 pp	10 q
GOOGLAlphabet Inc. Class A	4.30%	7,221,115	$1.8B	added×3.6	+3.31 pp	12 q
APPApplovin Corporation Class A	4.00%	2,267,855	$1.6B	added+25%	+2.23 pp	12 q
RDDTReddit, Inc.	3.33%	5,897,540	$1.4B	trimmed−5%	+0.73 pp	4 q
ORCLOracle Corp	3.31%	4,796,157	$1.3B	added+24%	+0.96 pp	2 q
LRCXLam Research Corp	3.27%	9,954,492	$1.3B	trimmed−5%	+0.42 pp	13 q
SPOTSpotify Technology S.A.	3.09%	1,803,173	$1.3B	added+13%	−0.31 pp	5 q
CRWVCoreWeave, Inc. Class A	2.26%	6,724,615	$920M	trimmed−62%	−5.82 pp	3 q
SNPSSynopsys Inc	2.19%	1,809,127	$893M	new	+2.19 pp	new
TSLATesla, Inc.	1.89%	1,729,211	$769M	trimmed−15%	+0.09 pp	23 q
NUNu Holdings Ltd.	1.86%	47,298,775	$757M	trimmed−2%	+0.01 pp	10 q
CVNACarvana Co.	1.85%	2,003,208	$756M	added+11%	+0.16 pp	3 q
NFLXNetFlix Inc	1.82%	618,735	$742M	held	—	50 q
AMATApplied Materials Inc	1.68%	3,349,048	$686M	new	+1.68 pp	new
DASHDoorDash, Inc. Class A	1.64%	2,454,877	$668M	added+12%	+0.14 pp	5 q
INTUIntuit Inc	1.41%	839,460	$573M	trimmed−20%	−0.89 pp	13 q
GOOGAlphabet Inc. Class C	1.25%	2,091,574	$509M	new	+1.25 pp	new
SNOWSnowflake Inc.	1.08%	1,956,448	$441M	new	+1.08 pp	new
FCNCAFirst Citizens BancShares Inc	0.89%	202,258	$362M	trimmed−4%	−0.26 pp	11 q
BABAAlibaba Group Holding Limited	0.87%	1,996,593	$357M	added×2.3	+0.60 pp	16 q
PYPLPayPal Holdings, Inc.	0.86%	5,237,984	$351M	trimmed−25%	−0.58 pp	39 q
TEAMAtlassian Corporation Class A	0.81%	2,077,303	$332M	trimmed−10%	−0.50 pp	5 q
ARMArm Holdings plc	0.78%	2,259,826	$320M	trimmed−51%	−1.31 pp	2 q
ISRGIntuitive Surgical Inc.	0.78%	710,649	$318M	trimmed−4%	−0.34 pp	9 q
CAICaris Life Sciences, Inc.	0.75%	10,142,198	$307M	held	—	2 q
KKRKKR & Co. Inc.	0.71%	2,230,946	$290M	trimmed−41%	−0.68 pp	5 q
HNGEHinge Health, Inc.	0.57%	4,702,208	$231M	held	—	2 q
ADBEAdobe Inc.	0.53%	610,621	$215M	held	—	13 q
CHYMChime Financial, Inc. Class A	0.53%	10,716,284	$216M	trimmed−1%	−0.51 pp	2 q
AMDAdvanced Micro Devices	0.49%	1,239,043	$200M	trimmed−19%	−0.11 pp	13 q
MRVLMarvell Technology, Inc.	0.43%	2,079,046	$175M	added×3.5	+0.30 pp	2 q
BULLWebull Corporation Class A	0.42%	11,522,483	$170M	added+1%	+0.04 pp	2 q
CDNSCadence Design Systems	0.41%	472,212	$166M	trimmed−33%	−0.20 pp	5 q
FIGFigma, Inc.	0.41%	3,232,969	$168M	new	+0.41 pp	new
SESea Limited	0.29%	666,305	$119M	held	—	7 q
CHAChagee Holdings Limited	0.25%	6,174,115	$102M	held	—	2 q
VSTVistra Corp.	0.25%	512,811	$100M	added+8%	−0.01 pp	2 q
SWKSSkyworks Solutions Inc	0.24%	1,272,952	$98M	held	—	3 q
TTDThe Trade Desk, Inc.	0.17%	1,387,089	$68M	added+39%	−0.03 pp	2 q
ENPHEnphase Energy, Inc.	0.14%	1,647,893	$58M	added+95%	+0.05 pp	2 q
ZZillow Group, Inc. Class C	0.14%	739,700	$57M	held	—	21 q
PINSPinterest, Inc. Class A	0.13%	1,678,764	$54M	held	—	3 q
QSQuantumScape Corporation Class A	0.13%	4,294,995	$53M	held	—	3 q
MPTMedical Properties Trust, Inc.	0.11%	9,050,796	$46M	held	—	3 q
UPSTUpstart Holdings, Inc.	0.11%	870,947	$44M	held	—	14 q
NVAXNovavax Inc	0.08%	3,836,986	$33M	held	—	3 q
NTRANatera, Inc.	0.07%	170,326	$27M	new	+0.07 pp	new
PATHUiPath, Inc.	0.07%	2,269,557	$30M	held	—	14 q
PTONPeloton Interactive, Inc. Class A	0.06%	2,500,000	$23M	held	—	3 q
ZGZillow Group Inc Class A	0.06%	328,189	$24M	held	—	21 q
RNGRingcentral, Inc.	0.03%	411,351	$12M	held	—	3 q
KLARKlarna Group plc	0.03%	330,000	$12M	new	+0.03 pp	new
IBITiShares Bitcoin Trust ETF	0.02%	132,640	$9M	added×2.3	+0.01 pp	2 q
JOYYJOYY Inc.	0.02%	155,705	$9M	new	+0.02 pp	new
LCIDLucid Group, Inc.	0.02%	295,393	$7M	trimmed0%	0.00 pp	3 q
PLUGPlug Power Inc.	0.02%	4,098,713	$10M	held	—	3 q
FUTUFutu Holdings Limited	0.01%	24,105	$4M	new	+0.01 pp	new
MBLYMobileye Global Inc. Class A	0.01%	226,558	$3M	held	—	3 q
SFIXStitch Fix, Inc. Class A	0.01%	790,167	$3M	held	—	3 q
AMCAmc Entertainment Holdings, Inc.	0.00%	228,136	$661,594	held	—	3 q
APIAgora, Inc.	0.00%	93,700	$357,934	held	—	11 q
BYNDBeyond Meat, Inc.	0.00%	343,393	$649,013	held	—	3 q
CHPTChargePoint Holdings, Inc.	0.00%	154,086	$2M	new	0.00 pp	new
HTZWWHertz Global Holdings	0.00%	468,814	$2M	held	—	11 q
HTZHertz Global Holdings, Inc	0.00%	106,823	$726,396	held	—	3 q
OLPXOlaplex Hldgs Inc	0.00%	1,264,968	$2M	held	—	3 q
PMPhilip Morris International Inc.	—	−1,298,405	—	exited	−0.66 pp	—
LLYEli Lilly & Co.	—	−117,415	—	exited	−0.25 pp	—
GNRCGenerac Holdings Inc	—	−216,442	—	exited	−0.09 pp	—
LXLexinFintech Holdings Ltd.	—	−1,394,026	—	exited	−0.03 pp	—
YUMCYum China Holdings, Inc.	—	−231,346	—	exited	−0.03 pp	—
unresolvedChargePoint Holdings Inc	—	−3,081,752	—	exited	−0.01 pp	—