Philippe Laffont’s $33 billion hedge fund reduced eight of its top 10 positions while increasing exposure to AI infrastructure suppliers.
Coatue Management, overseeing a $33 billion public equity portfolio, trimmed eight of its top 10 holdings last quarter. The fund added to only two positions: Taiwan Semiconductor Manufacturing (TSM) and Lam Research (LRCX), both critical suppliers in the AI computing supply chain.
At the start of the year, Coatue’s top holdings included Microsoft, Amazon, Alphabet, and Nvidia. The shift reflects a strategic pivot toward companies benefiting from hyperscaler spending on AI infrastructure, rather than cloud computing firms.
The move underscores growing investor focus on semiconductor manufacturers and equipment suppliers as demand for AI-driven hardware accelerates.