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.
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.