Philippe Laffont’s Coatue Management added new shares to major Chinese e-commerce companies and several anti-obesity pharmaceutical companies during the third quarter, according to its latest 13F filing with the U.S. Securities and Exchange Commission. Lafont, one of the managers of Tiger Cub’s “Tiger Cub” fund under the late Julian Robertson, added more than 2.4 million Alibaba shares in the three months to September 30, or 896 %. Laffont also added new positions in the iShares China Large Cap ETF and the KraneShares CSI China Internet ETF. Alibaba is set to report quarterly financial results on Friday, which could provide closely watched details about the health of Chinese consumers. Chinese stocks have been volatile recently, in part due to concerns about President-elect Trump’s stance on China and his threat of tariffs. Chinese stocks rose sharply in September after Chinese authorities stepped up stimulus measures and President Xi Jinping called for greater fiscal and monetary support for the economy and to stem a real estate plunge. Lafont also significantly increased the fund’s holdings in Eli Lilly and Company and Novo Nordisk. Eli Lilly shares are up nearly 35% year to date, while Novo Nordisk’s American depositary receipts (ADRs) are now up about 2% after surging 54% in 2023. Laffont increased its existing positions in Alphabet, Amazon, Broadcom and Microsoft during the quarter, but significantly reduced its holdings in Meta Platforms and Nvidia. He also reduced his holdings in chipmakers Qualcomm, AMD and TSMC. Facebook parent Meta remains the fund’s largest holding, while Amazon, Microsoft and Nvidia remain in the fund’s top 10. The boom in energy infrastructure related to artificial intelligence is closely related.
Philippe Laffont’s Coatue bets big on China and GLP-1 drugmakers in Q3 | Real Time Headlines
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