Top Technology, Media & Telecom Hedge Funds Report $73B; Philippe Laffont’s Coatue Capital retains Top Spot

September 23rd, 2013
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The latest Top Technology, Media and Telecom Hedge Fund list has been released, revealing that the top TMT Funds now manage $73 billion in equity assets, allocating $48 billion, or 66% of their equity assets to TMT stocks. The Top 50 TMT Hedge Fund List is once again led by Philippe Laffont’s Coatue Capital. Coatue Capital reported $6.8 billion in TMT equity holdings, allocating 47% of its overall assets to Tech & Telecom stocks and 29% to media stocks. Coatue’s top TMT holdings include Equinix Inc (EQIX), CBS Corp (CBS), Time Warner Inc (TWX) and Apple Inc (AAPL).

Number 2 on this quarter’s list is ValueAct Capital Management with $5.4 billion in TMT assets, up from the $4.5 billion in TMT assets that ValueAct reported at the end of the last quarter. 55% of the San Francisco-based firm’s equity assets are now allocated to the TMT sector, as compared to 51% last quarter. ValueAct Capital’s top TMT holdings are for the most part concentrated in three very large portfolio holdings, including equity stakes in Microsoft Corp (MSFT), Motorola Inc (MSI) and Adobe Systems Inc (ADBE).

Moving up a spot to Number 3 on this list is Alkeon Capital Management with $3.1 billion in TMT assets. Takis Sparaggis’ hedge fund allocated nearly 70% 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. Alkeon’s top TMT holdings include QUALCOMM Inc (QCOM), Google Inc (GOOG) and Synopsys (SNPS). Like Coatue Capital, Alkeon also likes CBS Corp (CBS), allocating $141 million to the media giant.

Once again, the Top 50 TMT Hedge Funds list experienced a fair amount of turnover, as 15 hedge funds on this quarter’s list were not among the top 50 during the last ranking. Among the notable newcomers is William C. Martin’s Raging Capital Management. Martin’s Princeton, NJ-based firm is a small- to mid-cap public equity focused hedge fund manager that has been known to employ shareholder activist tactics.

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
Raging Capital Management
ValueAct Capital Management
Related People: David Scully (CMO); Jeffrey W. Ubben; Panayotis Takis Sparaggis; Philippe Laffont; Thomas Laffont; William Martin
Related Entities: Bankrate, Inc; Indie Research, LLC*; Princeton Ventures; Raging Bull, Inc*; Raging Management; 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; Raging Capital Fund LP; 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; Top Hedge Fund Portfolio Reports


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