Coatue

Q4 2025 13F · by Philippe Laffont, founder

As of: Dec 31, 2025
Filed: May 15, 2026
US stock: $40.0B · prev $40.8B
Positions: 52 · prev 74
Options notional: $0
Documents: 1· 1 amendment

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%

Moves85 since the prior filing

+11.6 pp in · −11.8 pp out

New 13 +2.19 pp
Added 13 +9.39 pp
Trimmed 24 −2.43 pp
Exited 35 −9.34 pp

The book

Focused · behaves like 24 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 44% a year, about 2.3 years per position

Low
Moderate
High

Top 5 positions30% of US stock

Revealed late, restated

restated 2 rows corrected by the filer · US stock −7.73%; later quarters recomputed 13F-HR/A · May 15, 2026 ↗

Positions52 in this filing · 35 exited


TSMTaiwan Semiconductor Manufacturing Company Ltd.	6.56%	8,629,524	$2.6B	added+7%	+1.03 pp	12 q
MSFTMicrosoft Corp	6.26%	5,171,976	$2.5B	added+11%	+0.36 pp	18 q
METAMeta Platforms, Inc. Class A	6.25%	3,781,949	$2.5B	trimmed−6%	−1.02 pp	50 q
AMZNAmazon.Com Inc	5.74%	9,932,265	$2.3B	added+14%	+1.03 pp	51 q
GEVGE Vernova Inc.	5.51%	3,370,174	$2.2B	trimmed−7%	+0.03 pp	7 q
GOOGLAlphabet Inc. Class A	5.36%	6,841,436	$2.1B	trimmed−5%	+1.06 pp	13 q
CEGConstellation Energy Corporation	5.22%	5,907,174	$2.1B	added+3%	+0.60 pp	8 q
AVGOBroadcom Inc.	4.77%	5,510,227	$1.9B	trimmed−4%	+0.11 pp	8 q
NVDANvidia Corp	4.30%	9,203,338	$1.7B	trimmed−7%	−0.22 pp	19 q
LRCXLam Research Corp	4.20%	9,805,565	$1.7B	trimmed−2%	+0.93 pp	14 q
AMATApplied Materials Inc	3.85%	5,984,332	$1.5B	added+79%	+2.17 pp	2 q
ETNEaton Corporation, plc	3.76%	4,721,223	$1.5B	trimmed−2%	−0.64 pp	11 q
APPApplovin Corporation Class A	3.69%	2,185,747	$1.5B	trimmed−4%	−0.31 pp	13 q
SPOTSpotify Technology S.A.	3.56%	2,450,881	$1.4B	added+36%	+0.47 pp	6 q
RDDTReddit, Inc.	3.19%	5,550,241	$1.3B	trimmed−6%	−0.14 pp	5 q
NFLXNetFlix Inc	2.55%	10,861,355	$1.0B	added+76%	+0.73 pp	51 q
DASHDoorDash, Inc. Class A	2.47%	4,365,365	$989M	added+78%	+0.83 pp	6 q
ORCLOracle Corp	2.17%	4,440,008	$865M	trimmed−7%	−1.14 pp	3 q
CVNACarvana Co.	2.07%	1,958,229	$826M	trimmed−2%	+0.22 pp	4 q
SNPSSynopsys Inc	1.95%	1,656,489	$778M	trimmed−8%	−0.24 pp	2 q
NUNu Holdings Ltd.	1.92%	45,750,363	$766M	trimmed−3%	+0.06 pp	11 q
TSLATesla, Inc.	1.85%	1,641,406	$738M	trimmed−5%	−0.04 pp	24 q
GOOGAlphabet Inc. Class C	1.57%	2,000,536	$628M	trimmed−4%	+0.32 pp	2 q
NTRANatera, Inc.	1.51%	2,633,334	$603M	added×15.5	+1.44 pp	2 q
SNOWSnowflake Inc.	1.36%	2,480,963	$544M	added+27%	+0.28 pp	2 q
ISRGIntuitive Surgical Inc.	1.14%	807,234	$457M	added+14%	+0.36 pp	10 q
ADBEAdobe Inc.	0.77%	874,150	$306M	added+43%	+0.24 pp	14 q
FCNCAFirst Citizens BancShares Inc	0.75%	139,498	$299M	trimmed−31%	−0.14 pp	12 q
AMDAdvanced Micro Devices	0.66%	1,239,043	$265M	held	—	14 q
CAICaris Life Sciences, Inc.	0.66%	9,819,992	$265M	trimmed−3%	−0.09 pp	3 q
ARMArm Holdings plc	0.63%	2,300,000	$251M	added+2%	−0.15 pp	3 q
CHYMChime Financial, Inc. Class A	0.63%	10,071,992	$254M	trimmed−6%	+0.10 pp	3 q
MRVLMarvell Technology, Inc.	0.44%	2,079,046	$177M	held	—	3 q
MTZMasTec, Inc.	0.37%	677,909	$147M	new	+0.37 pp	new
VRTVertiv Holdings Co Class A	0.34%	828,947	$134M	new	+0.34 pp	new
RKTRocket Companies, Inc.	0.33%	6,747,052	$131M	new	+0.33 pp	new
PYPLPayPal Holdings, Inc.	0.25%	1,697,505	$99M	trimmed−68%	−0.61 pp	40 q
AXONAxon Enterprise, Inc.	0.22%	155,387	$88M	new	+0.22 pp	new
INFYInfosys Limited	0.20%	4,574,706	$82M	new	+0.20 pp	new
CHRWC.H. Robinson Worldwide, Inc.	0.14%	341,024	$55M	new	+0.14 pp	new
EXPDExpeditors International of Washington, Inc.	0.14%	365,987	$55M	new	+0.14 pp	new
GNRCGenerac Holdings Inc	0.13%	369,210	$50M	new	+0.13 pp	new
SFMSprouts Farmers Market, Inc.	0.12%	601,886	$48M	new	+0.12 pp	new
QSQuantumScape Corporation Class A	0.10%	3,694,995	$39M	trimmed−14%	−0.03 pp	4 q
CHAChagee Holdings Limited	0.09%	3,174,115	$37M	trimmed−49%	−0.16 pp	3 q
MCOMoody's Corporation	0.08%	64,260	$33M	new	+0.08 pp	new
SPGIS&P Global Inc.	0.08%	63,451	$33M	new	+0.08 pp	new
MPTMedical Properties Trust, Inc.	0.06%	4,525,398	$23M	trimmed−50%	−0.05 pp	4 q
NAVNNavan, Inc. Class A	0.03%	599,280	$10M	new	+0.03 pp	new
IBITiShares Bitcoin Trust ETF	0.01%	67,226	$3M	trimmed−49%	−0.01 pp	3 q
MRNAModerna, Inc.	0.01%	200,000	$6M	new	+0.01 pp	new
BULLWebull Corporation Class A	0.00%	74,334	$577,575	trimmed−99%	−0.42 pp	3 q
CRWVCoreWeave, Inc. Class A	—	−6,724,615	—	exited	−2.26 pp	—
INTUIntuit Inc	—	−839,460	—	exited	−1.41 pp	—
BABAAlibaba Group Holding Limited	—	−1,996,593	—	exited	−0.87 pp	—
TEAMAtlassian Corporation Class A	—	−2,077,303	—	exited	−0.81 pp	—
KKRKKR & Co. Inc.	—	−2,230,946	—	exited	−0.71 pp	—
HNGEHinge Health, Inc.	—	−4,702,208	—	exited	−0.57 pp	—
CDNSCadence Design Systems	—	−472,212	—	exited	−0.41 pp	—
FIGFigma, Inc.	—	−3,232,969	—	exited	−0.41 pp	—
SESea Limited	—	−666,305	—	exited	−0.29 pp	—
VSTVistra Corp.	—	−512,811	—	exited	−0.25 pp	—
SWKSSkyworks Solutions Inc	—	−1,272,952	—	exited	−0.24 pp	—
TTDThe Trade Desk, Inc.	—	−1,387,089	—	exited	−0.17 pp	—
ENPHEnphase Energy, Inc.	—	−1,647,893	—	exited	−0.14 pp	—
ZZillow Group, Inc. Class C	—	−739,700	—	exited	−0.14 pp	—
PINSPinterest, Inc. Class A	—	−1,678,764	—	exited	−0.13 pp	—
UPSTUpstart Holdings, Inc.	—	−870,947	—	exited	−0.11 pp	—
NVAXNovavax Inc	—	−3,836,986	—	exited	−0.08 pp	—
PATHUiPath, Inc.	—	−2,269,557	—	exited	−0.07 pp	—
PTONPeloton Interactive, Inc. Class A	—	−2,500,000	—	exited	−0.06 pp	—
ZGZillow Group Inc Class A	—	−328,189	—	exited	−0.06 pp	—
RNGRingcentral, Inc.	—	−411,351	—	exited	−0.03 pp	—
KLARKlarna Group plc	—	−330,000	—	exited	−0.03 pp	—
JOYYJOYY Inc.	—	−155,705	—	exited	−0.02 pp	—
LCIDLucid Group, Inc.	—	−295,393	—	exited	−0.02 pp	—
PLUGPlug Power Inc.	—	−4,098,713	—	exited	−0.02 pp	—
FUTUFutu Holdings Limited	—	−24,105	—	exited	−0.01 pp	—
MBLYMobileye Global Inc. Class A	—	−226,558	—	exited	−0.01 pp	—
SFIXStitch Fix, Inc. Class A	—	−790,167	—	exited	−0.01 pp	—
AMCAmc Entertainment Holdings, Inc.	—	−228,136	—	exited	0.00 pp	—
APIAgora, Inc.	—	−93,700	—	exited	0.00 pp	—
BYNDBeyond Meat, Inc.	—	−343,393	—	exited	0.00 pp	—
CHPTChargePoint Holdings, Inc.	—	−154,086	—	exited	0.00 pp	—
HTZWWHertz Global Holdings	—	−468,814	—	exited	0.00 pp	—
HTZHertz Global Holdings, Inc	—	−106,823	—	exited	0.00 pp	—
OLPXOlaplex Hldgs Inc	—	−1,264,968	—	exited	0.00 pp	—