Coatue Management invests nearly 23% of portfolio in 3 AI stocks

Philippe Laffont is not hedging his bets on artificial intelligence. The founder of Coatue Management has parked close to 23% of the firm’s public equity portfolio into a handful of AI-related stocks. Coatue’s 13F portfolio value hit $48.6 billion as of Q2 2026, a staggering jump from roughly $29 billion just one quarter earlier. The semiconductor supply chain thesis Laffont’s playbook isn’t about chasing the flashiest AI software names. Instead, he’s been loading up on what he calls “semi-cap” stocks, the semiconductor capital equipment and materials companies that build the picks and shovels for the AI gold rush. The major holdings tell the story. Taiwan Semiconductor Manufacturing (TSM), the company that fabricates the vast majority of the world’s most advanced processors, sits prominently in Coatue’s portfolio. Lam Research (LRCX) and Applied Materials (AMAT), both critical suppliers of equipment used in chip fabrication, round out the industrial side of the bet. Micron Technology (MU), a memory chip giant benefiting from insatiable AI data center demand, and ASML, the Dutch company with a near-monopoly on extreme ultraviolet lithography machines, complete the picture. Earlier ...