Nvidia is 188% higher this year, but has fallen recently amid fears the stock has run up too far, too fast.
Coatue Management's Philippe Laffont trimmed his exposure to top holding Nvidia in the second quarter, while raising his bet on Microsoft, according to the firm's latest 13F regulatory filing to the U.S. Securities and Exchange Commission. Laffont, a so-called Tiger Cub for previously working under Julian Robertson at Tiger Management, showed in a Monday filing that Coatue trimmed its stake in Nvidia 6.7%.
Instead, Coatue raised the size of its position in its No. 2 holding, Microsoft, another key AI beneficiary. The hedge fund raised its exposure to the mega-cap roughly 67%. Microsoft is up 34% this year but has dropped about 4% this quarter. Additionally, Laffont more than doubled his stake in Amazon, another one of his top 10 holdings. Electric vehicle play Separately, Laffont raised his bets on the future of electric vehicles.
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