Coatue’s tech frenzy: Laffont’s funds ride Q4 rally with style.

TLDR: Philippe Laffont’s hedge fund, Coatue, made several changes to its portfolio in the fourth quarter of 2023, including reducing its holdings in Nvidia and Meta Platforms. Despite the profit taking, both companies remain the fund’s largest holdings. Laffont also cut his positions in Taiwan Semiconductor, Alphabet, Intuit, and Uber, but opened new positions in Salesforce, Apple, and ServiceNow. Technology continues to be the dominant sector in Coatue’s portfolio, accounting for over 59% of its holdings. Laffont also made moves outside of the technology sector, opening stakes in Domino’s Pizza and Ford Motor. Overall, technology stocks have continued to rally in 2024, with the Nasdaq Composite outperforming other major indexes.