12.3% YTD growth for largest Technology, Media & Telecom hedge funds; Lone Pine and Coatue Capital claim top spots

September 14th, 2014
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The latest Top Technology, Media and Telecom Hedge Fund list has been released, revealing that the top TMT Funds currently manage nearly $146 billion in equity assets, up nearly 12.3% year-to-date. For the second straight quarter, The Top 50 TMT Hedge Fund List is once again led by Steve Mandel’s Lone Pine Capital.

Lone Pine Capital reported $13 billion in TMT equity holdings, allocating 41% of its overall assets to Tech & Telecom stocks and 13% to Media stocks. Lone Pine’s TMT assets are aggressively allocated to some of the largest tech companies, including investments of $1.7B in Baidu Inc (BIDU), $1.4B in Cognizant Technology (CTSH), and $1.1B in Microsoft (MSFT). The firm’s top media pick is McGraw-Hill Companies Inc (MHFI), receiving an allocation of $1B.

Philippe Laffont’s Coatue Capital is the second largest TMT investor on the list, having climbed up from last quarter’s three spot. Coatue Capital reported $8 billion in TMT assets, nearly 100% of the firm’s equity assets under management.

Laffont appears to be big believer in the iPhone 6 and Apple Watch, as the firm purchased 9,869,204 shares of Apple (AAPL) over the quarter. In total, Coatue reported a $940M position in AAPL, making the tech darling the firm’s largest position. Coatue’s other stock picks include $918M in Netflix (NFLX), $533M in Micron Technology (MU), $523M in Avago Technologies Ltd (AVGO), and $432M in Charter Communications (CHTR).

ValueAct Capital is the third largest TMT Hedge Fund on this quarter’s list, having fallen down one spot over the quarter. ValueAct, a San Francisco-based long/short equity investor, reported $6.8 billion in TMT assets. Like previous quarters, ValueAct concentrated its TMT portfolio holdings into three stocks: $3.1B in Microsoft Corp (MSFT), $1.9B in Motorola Inc (MSI) and $1.8B in Adobe Systems Inc (ADBE).

Ranking Methodology: The Top 50 TMT Hedge Fund rankings are compiled on a quarterly basis using hedge fund firms’ overall U.S. equity assets under management. The TMT list includes the top hedge funds that have more than 50% of their U.S. equity assets invested in U.S. listed Technology, Media and Telecom companies. To view the Top TMT Hedge Fund list in its entirety, please visit the Top Hedge Fund portal. .
For Detailed Investor Profiles on these Investors, click below:
Coatue Capital
Lone Pine Capital
ValueAct Capital Management
Related People: David Craver; David Scully (CMO); Jeffrey W. Ubben; Kerry Tyler; Mala Gaonkar; Marco Tablada; Philippe Laffont; Steve Mandel; Steve Mandel; Thomas Laffont
Related Entities: Blum Capital Partners*; Coatue Capital; Coatue Offshore funds; Coatue Qualified Partners LP; Lone Balsam LP; Lone Cascade; Lone Cypress Funds; Lone Dragon Pine; Lone Juniper; Lone Pine Capital (LPC); Lone Pine Sierra LP; Lone Sequoia LP; Lone Spruce LP; Tiger Management*; ValueAct AllCap International LP; ValueAct Capital International; ValueAct Capital LLC; ValueAct Holdings GP LLC
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Featured Reports

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