Introducing Valuation Models! 
Coatue Management is a technology-focused investment firm founded in 1999 by Philippe Laffont. Before launching Coatue, Laffont worked as a research analyst at Julian Robertson’s Tiger Management, which makes him part of the group often called “Tiger Cubs,” who are former Tiger employees who went on to start their own successful funds.
The Tiger Cubs are known for combining deep fundamental research with a strong focus on growth and secular trends. Coatue follows a similar blueprint, with a heavy focus on sectors like software, semiconductors, cloud infrastructure, artificial intelligence, and e-commerce.
As of March 2025, the firm held over $22 billion in equities in its public stock portfolio. These holdings offer a snapshot of Coatue’s highest-conviction ideas in the tech space.
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Coatue Management has a total of 72 holdings in its public equity portfolio as of March 31st of 2025. While Coatue is active across both public and private markets, its equity book leans heavily into large-cap tech and innovation-driven names.
The firm’s top five holdings (Meta, Amazon, Taiwan Semiconductor, Constellation Energy, and Microsoft) make up nearly 35% of the total portfolio, which shows that they have decent concentration in their highest conviction picks. The firm recently trimmed several positions like TSMC and NVIDIA but added meaningfully to others including Lam Research and Spotify.
Below, we take a closer look at the five largest holdings and what they reveal about Coatue’s current outlook.
Meta Platforms (META)
9.5% of portfolio
Value: $2.17 billion
Shares: 3,757,611
Change: +71,233 shares (+1.93%)
Meta Platforms is Coatue’s biggest public equity position, and it’s easy to see why. Between Facebook, Instagram, and WhatsApp, Meta still controls a massive share of the attention economy. The company’s been leaning hard into AI lately, both to boost engagement and drive better ad performance, which is a big part of what keeps investors interested.
Coatue slightly increased its stake in Q1, suggesting they’re still confident in Meta’s long-term growth story. With strong cash generation, a big buyback program, and leadership in digital advertising, Meta lines up well with Coatue’s focus on scalable, high-margin tech platforms.
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Amazon (AMZN)
9.0% of portfolio
Value: $2.05 billion
Shares: 10,753,808
Change: +83,599 shares (+0.78%)
Amazon is Coatue’s second-largest holding and another name that fits well with the firm’s tech-heavy approach. Whether it’s AWS dominating cloud infrastructure or the core e-commerce business bouncing back from a slower 2022, Amazon remains one of the most powerful platforms in the world.
The firm modestly added to its position in Q1, possibly reflecting growing confidence in margin improvement and cost discipline under CEO Andy Jassy. With AI investments ramping up inside AWS and advertising revenue climbing, Coatue seems to like Amazon’s mix of durable growth, scale, and optionality.
Taiwan Semiconductor Manufacturing (TSM)
5.8% of portfolio
Value: $1.32 billion
Shares: 7,960,037
Change: -2,002,065 shares (-20.1%)
Coatue has long favored companies that are foundational to modern tech infrastructure, and TSMC fits that mold. As the world’s leading semiconductor foundry, TSMC sits at the center of the chip supply chain, producing advanced processors for companies like Apple, AMD, and NVIDIA.
Even though Coatue trimmed its position by 20% in Q1, it remains one of the fund’s largest holdings. For a firm that invests with an eye on long-term technological shifts, TSM’s exposure to the backbone of technology and AI is hard to replace.
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Constellation Energy Group (CEG)
5.4% of portfolio
Value: $1.24 billion
Shares: 6,168,714
Change: -469,904 shares (-7.08%)
Constellation Energy is the largest producer of carbon-free energy in the U.S., with a strong footprint in nuclear, wind, and solar. It plays a vital role in supporting the data centers, AI infrastructure, and electrification trends that Coatue is heavily exposed to through its tech investments.
This holding shows how Coatue thinks beyond traditional tech. They look for companies positioned to benefit from long-term structural shifts, even in sectors like energy.
Coatue slightly trimmed its position last quarter, but it still remains a high-conviction bet on the future of clean, reliable power.
Microsoft (MSFT)
5.4% of portfolio
Value: $1.23 billion
Shares: 3,269,324
Change: -256,853 shares (-7.28%)
Microsoft sits at the center of Coatue’s strategy. It’s not just about recurring revenue or sticky software. It’s the scale, the infrastructure, and the fact that Microsoft quietly powers a huge part of the modern digital economy. From Azure to Office to GitHub, its tools are deeply woven into how the world works.
What makes it even more interesting is its aggressive push into AI. The partnership with OpenAI and the rollout of AI across its products show that it’s thinking long-term. Even though Coatue trimmed its position a bit last quarter, it’s still clear they view Microsoft as one of the most durable and important tech platforms out there.
Growth-Focused with a Tech Edge
Coatue Management stands out for its deep focus on innovation-driven growth. The firm concentrates its capital in a relatively small number of high-conviction positions where long-term trends like cloud, AI, and digitization are reshaping the economy.
Coatue blends traditional fundamental research with data science and technology-driven insights. This allows it to move quickly on emerging opportunities while staying disciplined on valuation and market structure. Its portfolio includes dominant platforms with strong network effects and recurring revenue models, like Meta, Microsoft, and Amazon.
Coatue’s concentrated, research-driven approach works well in industries where things move quickly and long-term advantages can create meaningful upside.
