Coatue Management’s Latest Moves

Coatue Management is a New York City-based hedge fund that was launched back in 1999 by Philippe Laffont. The fund provides additional office in Menlo Park, California. At the end of 2016, it held around $10.25 billion in assets under management. Coatue Management looks for the stocks to invest in from the technology sector, utilizing long-short investment strategy. Prior to founding Coatue Management, Philippe Laffont honed his investment acumen at Julian Robertson’s Tiger Management. He graduated with MS in Computer Science from MIT in 1989.

Coatue Management’s Latest Moves

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On March 31st, Coatue Management’s portfolio was valued at $9.03 billion, and it counted 116 holdings. Out of 39 quarterly additions the most valuable ones were Mallinckrodt plc (NYSE:MNK), Okta, Inc. (NASDAQ:OKTA), and Fitbit, Inc. (NYSE:FIT). Whereas the top boosted stakes included ServiceNow, Inc. (NYSE:NOW), Adobe Inc. (NASDAQ:ADBE), and Mastercard Incorporated (NYSE:MA).

During the quarter, the fund lost faith in 33 stocks and sold its entire positions. Among those dumped holdings were Spotify Technology S.A. (NYSE:SPOT), QUALCOMM Incorporated (NASDAQ:QCOM), and Twitter, Inc. (NYSE:TWTR). Coatue Management also showed a drop in enthusiasm for some of its holdings, trimming its stakes in, Inc. (NASDAQ:AMZN), Facebook, Inc. (NASDAQ:FB), and Netflix, Inc. (NASDAQ:NFLX).

Disclosure: None.

This article is originally published at Insider Monkey.