Coatue Management recently disclosed its portfolio updates for the first quarter of 2020, which ended on March 31.
Founded in 1999 and headquartered in New York, Coatue Management is an employee-owned private hedge fund sponsor. It launches and manages various hedge funds for clients and is perhaps best known for its tech-focused hedge fund. The firm mainly invests in U.S. and non-U.S. publicly traded equity securities, but it also has short positions and investments in private equity and hedging markets. Chief Investment Officer Philippe Laffont (Trades, Portfolio), who founded the firm after leaving Tiger Management, takes a top-down approach to stock picking and focuses on the information technology sector.
During the quarter, the firm established 66 new stock positions and sold out of 299 holdings. The biggest buys were JD.com Inc. (NASDAQ:JD) and Tesla Inc. (NASDAQ:TSLA), while the biggest sells were ServiceNow Inc. (NYSE:NOW) and Mastercard Inc.