Top Technology, Media & Telecom Hedge Funds Report $130B; Philippe Laffont’s Coatue Capital maintains top spot

March 23rd, 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 almost $130 billion in equity assets, allocating $84 billion, or 65% of their equity assets to TMT stocks. Philippe Laffont’s Coatue Capital retains the top spot once again on The Top 50 TMT Hedge Fund List with $8.9 billion devoted to TMT, or more than 87% of equity assets under management. The vast majority of Coatue’s TMT assets fall within Tech and Telecom, including CBS Corp (CBS), Apple Inc (AAPL) and Time Warner Inc (TWX). Over the last quarter, Coatue liquidated its entire stake in Equinix (EQIX), previously its top holding, worth more than $820 million.

There was a new entrant in the top 5 this quarter with the addition of Discovery Capital Management at the 2nd spot. Discovery has $6.6B invested in TMT stocks, amounting to 50% of its total equity assets. Discovery significantly increased its share in Apple, its top holding, over the quarter, adding more than 600k shares to reach 1.5M shares.

ValueAct, which fell one spot to third, rounds out the top 3 TMT investors. ValueAct, a GARP investor based out of San Francisco, reported $6.4 billion in TMT assets, amounting to more than half of its total equity assets. ValueAct’s TMT investments are up 8% over the quarter and entirely dedicated to Tech and Telecom. ValueAct maintained its high concentration in three very large portfolio holdings, including equity stakes in Microsoft Corp (MSFT), Motorola Inc (MSI) and Adobe Systems Inc (ADBE).

Alkeon Capital Management, previously #3 on the list, fell six spots to #9 after recording a slight drop in TMT assets over the quarter. Takis Sparaggis’s hedge fund still allocates 51% of its equity assets to TMT stocks. Sparaggis, who now has more than twenty years of investment experience, joined the investment community in 1993 and launched Alkeon Capital in 2002, when he spun the firm off from CIBC Oppenheimer.

Once again, the Top 50 TMT Hedge Funds list experienced a fair amount of turnover, as 18 hedge funds on this quarter’s list were not among the top 50 during the last ranking. Incredibly, there were four more newcomers in addition to Discovery succeeding in breaking into the top 10, including Tiger Global Management (#4), SPO Advisory Corp (#5), Greenlight Capital (#6) and Egerton Capital LP (#7).

Ranking Methodology: The Top 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 Hedge Tracker’s Hedge Fund Portal.
For Detailed Investor Profiles on these Investors, click below:
Alkeon Capital Management
Coatue Capital
Discovery Capital Management
ValueAct Capital Management
SPO Advisory Corp
Related People: Charly Cui; David Scully (CMO); Edward H. McDermott; Eli Weinberg; Harry Krensky; Jeffrey W. Ubben; John Harold Scully; Marcos Amino; Michael Liu; Mike Yuen(retired)*; Panayotis Takis Sparaggis; Philippe Laffont; Robert Citrone; Thomas Laffont; William Oberndorf
Related Entities: Atlas Capital Management; Discovery Global Citizen’s Fund (DGCF); Discovery Global Opportunity Master Fund Ltd; Advantage Advisers Technology Partners; Alkeon Asia Growth Fund; Alkeon Global Alpha Fund; Alkeon Growth Partners; Alpro Technology Fund; Blum Capital Partners*; Coatue Capital; Coatue Offshore funds; Coatue Qualified Partners LP; Discovery Americas I; Discovery Global Opportunity Fund; Main Street Partners; SF Advisory Partners; SPO Advisory Co; SPO Partners & Co; ValueAct AllCap International LP; ValueAct Capital International; ValueAct Capital LLC; ValueAct Holdings GP LLC
Related Article Tags: Investment Management, Fund Manager and General Financial News


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