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Philippe Laffont's Coatue Buys Facebook, Pandora Media


Philippe Laffont’s Coatue Managment cut its position in Apple Inc. (AAPL) to 442k shares, down from 1.59 million shares.

The tiger cub has launched multiple long-only funds this year and has also been investing in tech startups. Coatue Long-Only Offshore Fund was launched in October with $18 million under management whereasaCoatue Long-Only Partnersawas launched in May with $45 million.

Coatue adds to Baidu

The fund boosted its position in Baidu Inc (BIDU), the Chinese search engine, in a major way. Coatue bought 1.95 million shares of Baidu Inc (BIDU), a nearly 9x increase of the previous holding. Shares of Baidu are up 55% YTD.

Other major additions to existing stakes were executed in Michael Kors Holdings Ltd (KORS), American Tower Corp (AMT) and Yandex NV (YNDX).

Coatue’s top five public long holdings are as follows: Equinix Inc (EQIX), CBS Corporation (CBS), Time Warner Inc (TWX), Facebook Inc (FB) and LIBERTY GLOBAL PLC (LBTYA)

Coatue buys Facebook, Pandora Media

Coatue bought into Facebook Inc (FB) once again; the fund bought 9.24 million shares of the company, making it its fourth-largest position. Laffont bought 1.13 million shares of Pandora Media Inc (P) in the last quarter, matching its stake with the other tiger cub, Patrick McCormack, who also initiated a position in Pandora with 2.9 million shares. Shares of the radio company are up 200% YTD. While Pandora faces rising competition from iTunes Radio, shares of the company have been marking new highs.

Coatue Management bought new positions in Sprint Corporation (S) and News Corp (NWSA) (NWS) as well.

Coatue sold out of ADT Corp (ADT), Broadcom Corporation (BRCM) and The Gap Inc. (GPS) in the third quarter.

-By Tabinda Hussain


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