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Tiger-cub hedge fund Coatue slashes big Tesla bet, doubles down on chip stocks

November 15, 2022
Source: cnbc.com cnbc.com
News Snapshot:
Coatue Management's Philippe Laffont trimmed his big Tesla holding in the third quarter, while ramping up his exposure to semiconductor stocks. The so-called Tiger Cub reduced his stake in Elon Musk's EV company by 16% to $940 million bet at the end of September, according to a regulatory filing. Tesla was still Coatue's biggest holding at the time of filing. The stock has shed 27% in the fourth quarter partly because Musk has been selling billions of dollars worth of Tesla shares to fund his acquisition of Twitter. The hedge fund significantly added to its Nvidia holding, making it the...
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