Coatue Management’s Philippe Laffont significantly hiked his bets on Big Tech in the first quarter while doubling down on a slew of chipmakers, according to a new regulatory filing. Laffont, one of the so-called Tiger Cubs who previously worked under the late Julian Robertson at Tiger Management, revealed in a filing on Tuesday that Coatue Management more than doubled its stake in Meta , Netflix , Microsoft and Alphabet last quarter. Meta became Coatue’s biggest holding at the end of March, with a stake worth $1.7 billion, the filing showed. The Facebook parent has been one of the biggest winners in the tech sector this year, rising nearly 100%. Investors have been focused on its artificial intelligence potential and Meta’s cost-cutting story. Chip giant Nvidia was Coatue’s second-biggest holding at the end of March after the hedge fund raised the stake slightly. Nvidia, viewed by many as the biggest AI enabler, is up 97% year to date. The New York-based fund also upped its AMD stake dramatically last quarter, making it its seventh-largest holding. The hedge fund also picked up Taiwan Semiconductor , building a new stake worth more than $500 million. The semiconductor sector enjoyed its best quarter since 2020 in Q1 as investors rotated back into the beaten-down industry. The iShares Semiconductor ETF has gained about 20% this year amid the AI craze on Wall Street. The fund also owned sizeable stakes in Lam Research , Applied Materials and NXP Semiconductors .
