Billionaire Phillipe Laffont Recently Sold Oracle, Tesla, and Nvidia and Purchased a Stock Down 94% Since Its IPO in 2020

Philippe Laffont is portion of an elite radical of investors who chopped their teeth astatine Julian Robertson's legendary fund, Tiger Management, successful the 1990s, wide viewed arsenic 1 of the trailblazers of the hedge money manufacture and 1 that besides delivered unthinkable returns.

Many of Robertson's protege's, specified arsenic Laffont, are known arsenic Tiger cubs and went connected to motorboat their ain funds to large success, which is wherefore galore are present billionaires. Laffont's fund, Coatue Management, had implicit $29 cardinal successful assets astatine the extremity of the archetypal quarter. Due to its occurrence and dense tech focus, galore investors are ever funny to spot what Laffont and his squad are buying and selling each quarter.

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Recent filings showed that Coatue was selling stocks specified arsenic Oracle, Tesla, and Nvidia but buying different banal down 94% since its archetypal nationalist offering (IPO) successful 2020. Let's reappraisal immoderate of these latest moves.

Selling immoderate of the tech giants

Coatue apt wasn't the lone money selling immoderate of the tech giants successful the archetypal 4th of the year, arsenic galore investors began questioning the valuations of artificial quality (AI) companies.

The money dumped its full Oracle involvement successful the quarter, which had a pugnacious Q1. As astir investors know, Oracle is heavy babelike connected contracts with OpenAI, which has $1.4 trillion successful information halfway commitments implicit the adjacent 7 to 8 years, starring galore investors to wonderment whether it tin conscionable each those obligations.

Media outlets reported successful April that OpenAI had missed cardinal gross targets. Oracle besides accrued its fiscal 2026 superior expenditure (capex) guidance to $50 cardinal earlier this year.

Coatue besides trimmed its Tesla involvement by 96% successful the quarter. The electrical conveyance (EV) and autonomous driving institution sold disconnected aft CEO Elon Musk seemed to follow a much cautious code astir however rapidly Tesla would rotation retired its robotaxi fleet nationwide. Tesla besides raised its capex guidance for its AI initiatives, starring analysts to judge escaped currency travel volition beryllium challenged this year.

Finally, Coatue slashed its Nvidia involvement by 31% successful Q1. I really thought Nvidia performed good successful Q1 connected net and guardant guidance, but since Nvidia is the person successful AI, immoderate doubts astir the manufacture are apt to impact the spot giant.

Buying a beaten-down EV banal

In Q1, Coatue initiated a caller presumption successful the EV institution Lucid Group (NASDAQ: LCID), snapping up implicit 295,300 shares valued astatine $2.8 million. The carmaker has struggled mightily since going nationalist and is down 94% from its September 2020 IPO. Lucid is besides down astir 48% this twelvemonth alone.