Top equities that billionaire money manager Philippe Laffont has been impressed by include Rivian Automotive, Inc., Tesla, Inc., and Uber Technologies, Inc. Philippe and Thomas Laffont, brothers, launched Coatue Management in 1999. There are offices in New York, Hong Kong, San Francisco, Shanghai, and one is currently being opened in London. About $25 billion worth of assets is managed by the tech-focused investment company. At the conclusion of Q1, Coatue Management’s 13F portfolio had a value of $13.7 billion. During the first quarter, Laffont sold dozens of equities from his portfolio while buying only twelve new ones. As a result, Coatue’s portfolio only had 58 long holdings in it.
Insider Monkey takes a look at 10 consumer discretionary stocks. High-end electric sports car manufacturer Lucid Group, Inc. announced a price increase of up to $15,000 for all of its vehicles in May. Only 360 automobiles were delivered by the California company during the first quarter, but it nevertheless generated $57.7 million in revenue and only lost $0.05 per share. Chinese EV manufacturer XPeng Inc. is a stockholder of Coatue Management. As of March 31, Coatue owned 2.82 million shares in XPeng. In January, XPend delivered 13,000 less electric vehicles than in the same month last year, an increase of 115%. With nearly 36% of BBWI’s common stock owned by hedge funds, the business is overweighted. The niche retailer’s stock has taken a beating in 2022, shedding more than 60% of its worth. The Victoria’s Secret spinoff has necessitated continual investments for the corporation. During Q1, Coatue Management reduced its holdings in JD.com, Inc. by 49% to 3.71 million shares. The top 20 long holdings held by Laffont’s fund as of March 31 include the Chinese e-commerce giant. During the first quarter, Philippe Laffont increased his fund’s holding in Peloton, Inc. by more than 1,800%. Due to weak sales and management errors, the company’s shares have decreased by 94% in the past year. For more details, click Tesla Inc and 9 Other Consumer Discretionary Stocks That Have Wowed Billionaire Philippe Laffont.
