Hedge Fund Coatue Management Doubles Down On Meta, Nvidia, And Microsoft As Tech Stocks Regain Momentum

Coatue Management, led by Tiger Cub Philippe Laffont, significantly ramped up its investments in Big Tech, particularly Meta Platforms Inc META, while making sizeable investments in semiconductor stocks.

What Happened: In Q1, the hedge fund more than doubled its stake in Meta to 8,061,803 shares, valued at $1.7 billion, making it the fund’s largest holding, according to its 13F filing issued Monday.

Laffont’s bullish stance on Meta reflects investor sentiment towards the company’s potential in artificial intelligence and its cost-cutting strategies.

Coatue also augmented its positions in Nvidia Corporation NVDA, Microsoft Corporation MSFT, and Netflix Inc NFLX by 7%, 99%, and 104% respectively.

Read also: Microsoft’s $69B Bid To Acquire Activision Blizzard Receives European Union Approval

Nvidia, a key player in AI technologies, is Coatue’s second-largest holding, reflecting its continued faith in the chipmaker’s growth prospects.

The fund also significantly increased its stake in Advanced Micro Devices, Inc AMD, a move indicative of its confidence in the semiconductor industry’s rebound.

A new stake was initiated in Taiwan Semiconductor Mfg TSM, amounting to $548.9 million, further underlining the fund’s bullishness on chip stocks. Other notable tech holdings include Block Inc SQ and Adobe Inc ADBE.

The moves coincide with a renewed interest in the semiconductor industry on Wall Street, as part of a broader shift back into technology stocks. Coatue's strategic decisions signify a confident outlook on the tech and semiconductor sectors for the upcoming quarters.

Read next: US Stocks Mixed, Treasuries Drop As Optimism Over Debt Ceiling Increase Collides With Hawkish Fed Remarks

Photo: Unsplash