Investor: Philippe Laffont
Number of Assets: 74
Reporting Period: Q3 - 2025
Holdings at Report: $40,788,469,402
Return Since Report: -$1,247,031,062
Return Since Report: -3.06%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Alphabet Inc. (GOOG) | Equity | +100% | 2,091,574 | 1.25% | $243.55 | $310.80 | $509,402,849 | $650,061,199 | +$140,658,350 | +27.61% |
| Arm Holdings PLC (ARM) | Equity | -51.23% | 2,259,826 | 0.78% | $141.49 | $131.52 | $319,742,781 | $297,212,316 | -$22,530,465 | -7.05% |
| Figma INC | Equity | +100% | 3,232,969 | 0.41% | $51.87 | N/A | $167,694,102 | N/A | N/A | N/A |
| First Citizens Bancshares Inc. (FCNCA) | Equity | -4.15% | 202,258 | 0.89% | $1,789.16 | $2,047.76 | $361,871,923 | $414,175,842 | +$52,303,919 | +14.45% |
| Marvell Technology Inc. (MRVL) | Equity | +245.13% | 2,079,046 | 0.43% | $84.07 | $85.45 | $174,785,397 | $177,654,481 | +$2,869,084 | +1.64% |
| Paypal Holdings Inc. (PYPL) | Equity | -24.86% | 5,237,984 | 0.86% | $67.06 | $61.89 | $351,259,207 | $324,178,830 | -$27,080,377 | -7.71% |
| Plug Power Inc. (PLUG) | Equity | 0% | 4,098,713 | 0.02% | $2.33 | $2.41 | $9,550,001 | $9,877,898 | +$327,897 | +3.43% |
| Alphabet Inc. (GOOGL) | Equity | +259.14% | 7,221,115 | 4.30% | $243.10 | $309.47 | $1,755,453,057 | $2,234,718,459 | +$479,265,402 | +27.30% |
| Chargepoint Holdings INC | Equity | +100% | 154,086 | 0.00% | $10.92 | N/A | $1,682,619 | N/A | N/A | N/A |
| Applovin Corp. (APP) | Equity | +24.89% | 2,267,855 | 4.00% | $718.54 | $681.46 | $1,629,544,531 | $1,545,452,468 | -$84,092,063 | -5.16% |
| Futu Holdings Limited (FUTU) | Equity | +100% | 24,105 | 0.01% | $173.91 | $170.51 | $4,192,101 | $4,110,144 | -$81,957 | -1.96% |
| Enphase Energy Inc. (ENPH) | Equity | +95.26% | 1,647,893 | 0.14% | $35.39 | $37.42 | $58,318,933 | $61,664,156 | +$3,345,223 | +5.74% |
| Adobe Inc. (ADBE) | Equity | 0% | 610,621 | 0.53% | $352.75 | $356.04 | $215,396,558 | $217,405,501 | +$2,008,943 | +0.93% |
| Broadcom Inc. (AVGO) | Equity | +2.13% | 5,767,559 | 4.67% | $329.91 | $360.35 | $1,902,775,389 | $2,078,351,421 | +$175,576,032 | +9.23% |
| Carvana Co. (CVNA) | Equity | +11.29% | 2,003,208 | 1.85% | $377.24 | $464.78 | $755,690,186 | $931,051,014 | +$175,360,828 | +23.21% |
| Hertz Global Holdings Inc. (HTZ) | Equity | 0% | 106,823 | 0.00% | $6.80 | $5.15 | $726,396 | $549,604 | -$176,792 | -24.34% |
| Joyy Inc. (YY) | Equity | +100% | 155,705 | 0.02% | $58.61 | $63.43 | $9,125,870 | $9,876,368 | +$750,498 | +8.22% |
| Mobileye Global Inc. (MBLY) | Equity | 0% | 226,558 | 0.01% | $14.12 | $11.24 | $3,198,999 | $2,545,379 | -$653,620 | -20.43% |
| Novavax Inc. (NVAX) | Equity | 0% | 3,836,986 | 0.08% | $8.67 | $6.57 | $33,266,669 | $25,189,813 | -$8,076,856 | -24.28% |
| Upstart Holdings Inc. (UPST) | Equity | 0% | 870,947 | 0.11% | $50.80 | $48.66 | $44,244,108 | $42,380,281 | -$1,863,827 | -4.21% |
| Advanced Micro Devices Inc. (AMD) | Equity | -19.03% | 1,239,043 | 0.49% | $161.79 | $210.93 | $200,464,767 | $261,353,818 | +$60,889,051 | +30.37% |
| Amc Entertainment Holdings Inc. (AMC) | Equity | 0% | 228,136 | 0.00% | $2.90 | $2.12 | $661,594 | $482,508 | -$179,086 | -27.07% |
| Eaton Corp. PLC (ETN) | Equity | +2.28% | 4,794,777 | 4.40% | $374.25 | $334.46 | $1,794,445,294 | $1,603,661,115 | -$190,784,179 | -10.63% |
| Intuitive Surgical Inc. (ISRG) | Equity | -3.65% | 710,649 | 0.78% | $447.23 | $542.38 | $317,823,553 | $385,441,805 | +$67,618,252 | +21.28% |
| Nu Holdings Ltd. (NU) | Equity | -2.36% | 47,298,775 | 1.86% | $16.01 | $17.00 | $757,253,388 | $803,842,681 | +$46,589,293 | +6.15% |
| Reddit Inc. (RDDT) | Equity | -5.02% | 5,897,540 | 3.33% | $229.99 | $229.45 | $1,356,375,225 | $1,353,190,553 | -$3,184,672 | -0.23% |
| Skyworks Solutions Inc. (SWKS) | Equity | 0% | 1,272,952 | 0.24% | $76.98 | $66.79 | $97,991,845 | $85,020,464 | -$12,971,381 | -13.24% |
| Vistra Corp. (VST) | Equity | +7.70% | 512,811 | 0.25% | $195.92 | $171.15 | $100,469,931 | $87,767,090 | -$12,702,841 | -12.64% |
| Zillow Group Inc. (ZG) | Equity | 0% | 328,189 | 0.06% | $74.44 | $72.41 | $24,430,389 | $23,764,165 | -$666,224 | -2.73% |
| Agora Inc. (API) | Equity | 0% | 93,700 | 0.00% | $3.82 | $3.93 | $357,934 | $367,773 | +$9,839 | +2.75% |
| Applied Materials Inc. (AMAT) | Equity | +100% | 3,349,048 | 1.68% | $204.74 | $259.38 | $685,684,087 | $868,676,070 | +$182,991,983 | +26.69% |
| Atlassian Corp. (TEAM) | Equity | -9.99% | 2,077,303 | 0.81% | $159.70 | $161.68 | $331,745,289 | $335,858,349 | +$4,113,060 | +1.24% |
| Caris Life Sciences INC | Equity | 0% | 10,142,198 | 0.75% | $30.25 | $0.00 | $306,801,490 | $0 | -$306,801,490 | -100% |
| Chagee Hldgs LTD | Equity | 0% | 6,174,115 | 0.25% | $16.55 | $0.00 | $102,181,603 | $0 | -$102,181,603 | -100% |
| Chime Financial Inc. (CHYM) | Equity | -0.98% | 10,716,284 | 0.53% | $20.17 | $26.24 | $216,147,449 | $281,195,292 | +$65,047,843 | +30.09% |
| Constellation Energy Corp. (CEG) | Equity | -3.35% | 5,725,963 | 4.62% | $329.07 | $355.70 | $1,884,242,645 | $2,036,725,039 | +$152,482,394 | +8.09% |
| Doordash Inc. (DASH) | Equity | +12.26% | 2,454,877 | 1.64% | $271.99 | $228.93 | $667,701,995 | $561,994,992 | -$105,707,003 | -15.83% |
| Hinge Health Inc. (HNGE) | Equity | 0% | 4,702,208 | 0.57% | $49.08 | $49.78 | $230,784,369 | $234,075,914 | +$3,291,545 | +1.43% |
| Klarna Group PLC | Equity | +100% | 330,000 | 0.03% | $36.65 | N/A | $12,094,501 | N/A | N/A | N/A |
| Microsoft Corp. (MSFT) | Equity | +18.07% | 4,643,050 | 5.90% | $517.95 | $478.84 | $2,404,867,748 | $2,223,278,062 | -$181,589,686 | -7.55% |
| Tesla Inc. (TSLA) | Equity | -15.11% | 1,729,211 | 1.89% | $444.72 | $451.57 | $769,014,716 | $780,859,811 | +$11,845,095 | +1.54% |
| The Trade Desk Inc. (TTD) | Equity | +38.85% | 1,387,089 | 0.17% | $49.01 | $39.57 | $67,981,232 | $54,880,176 | -$13,101,056 | -19.27% |
| Beyond Meat Inc. (BYND) | Equity | 0% | 343,393 | 0.00% | $1.89 | $1.13 | $649,013 | $386,661 | -$262,352 | -40.42% |
| Cadence Design Systems Inc. (CDNS) | Equity | -33.30% | 472,212 | 0.41% | $351.26 | $324.44 | $165,869,187 | $153,204,461 | -$12,664,726 | -7.64% |
| Nvidia Corp. (NVDA) | Equity | -14.08% | 9,870,743 | 4.52% | $186.58 | $176.35 | $1,841,683,229 | $1,740,705,528 | -$100,977,701 | -5.48% |
| Snowflake Inc. (SNOW) | Equity | +100% | 1,956,448 | 1.08% | $225.55 | $218.42 | $441,276,848 | $427,327,372 | -$13,949,476 | -3.16% |
| Spotify Technology S.A. (SPOT) | Equity | +13.32% | 1,803,173 | 3.09% | $698.00 | $603.50 | $1,258,614,754 | $1,088,214,906 | -$170,399,849 | -13.54% |
| Alibaba Group Holding Limited (BABA) | Equity | +130.08% | 1,996,593 | 0.87% | $178.73 | $155.21 | $356,851,067 | $309,891,200 | -$46,959,867 | -13.16% |
| Amazon.com Inc. (AMZN) | Equity | -13.93% | 8,743,095 | 4.71% | $219.57 | $226.83 | $1,919,721,370 | $1,983,196,239 | +$63,474,869 | +3.31% |
| CoreWeave Inc. (CRWV) | Equity | -62.22% | 6,724,615 | 2.26% | $136.85 | $80.03 | $920,263,564 | $538,170,938 | -$382,092,626 | -41.52% |
| Intuit Inc. (INTU) | Equity | -19.75% | 839,460 | 1.41% | $682.91 | $669.19 | $573,275,629 | $561,758,237 | -$11,517,392 | -2.01% |
| Ishares Bitcoin Trust ETF (IBIT) | Equity | +134.73% | 132,640 | 0.02% | $65.00 | $51.16 | $8,621,600 | $6,785,862 | -$1,835,738 | -21.29% |
| Lam Research Corp. (LRCX) | Equity | -5.26% | 9,954,492 | 3.27% | $133.90 | $160.31 | $1,332,906,480 | $1,595,754,840 | +$262,848,360 | +19.72% |
| Netflix Inc. (NFLX) | Equity | 0% | 618,735 | 1.82% | $1,198.92 | $95.63 | $741,813,766 | $59,169,628 | -$682,644,138 | -92.02% |
| Ringcentral Inc. (RNG) | Equity | 0% | 411,351 | 0.03% | $28.34 | $31.05 | $11,657,687 | $12,772,449 | +$1,114,762 | +9.56% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | +0.05% | 8,072,536 | 5.53% | $279.29 | $294.28 | $2,254,578,579 | $2,375,585,894 | +$121,007,315 | +5.37% |
| Uipath Inc. (PATH) | Equity | 0% | 2,269,557 | 0.07% | $13.38 | $17.52 | $30,366,673 | $39,751,291 | +$9,384,618 | +30.90% |
| Webull corp | Equity | +0.65% | 11,522,483 | 0.42% | $14.79 | $0.00 | $170,417,524 | $0 | -$170,417,524 | -100% |
| GE Vernova Inc. (GEV) | Equity | -3.22% | 3,634,166 | 5.48% | $614.90 | $676.52 | $2,234,648,675 | $2,458,585,982 | +$223,937,307 | +10.02% |
| Meta Platforms Inc. (META) | Equity | +9.65% | 4,035,717 | 7.27% | $734.38 | $646.63 | $2,963,749,850 | $2,609,615,684 | -$354,134,166 | -11.95% |
| Oracle Corp. (ORCL) | Equity | +24.34% | 4,796,157 | 3.31% | $281.24 | $189.67 | $1,348,871,196 | $909,687,098 | -$439,184,098 | -32.56% |
| Peloton Interactive Inc. (PTON) | Equity | 0% | 2,500,000 | 0.06% | $9.00 | $6.67 | $22,500,000 | $16,662,500 | -$5,837,500 | -25.94% |
| Stitch Fix Inc. (SFIX) | Equity | 0% | 790,167 | 0.01% | $4.35 | $5.52 | $3,437,226 | $4,361,722 | +$924,496 | +26.90% |
| Hertz Global Holdings Inc. (HTZWW) | Warrant | +100% | 468,814 | N/A | $3.72 | N/A | $1,743,988 | N/A | N/A | N/A |
| KKR & Co. Inc. (KKR) | Equity | -40.59% | 2,230,946 | 0.71% | $129.95 | $136.61 | $289,911,433 | $304,769,533 | +$14,858,100 | +5.13% |
| Lucid Group INC | Equity | +100% | 295,393 | 0.02% | $23.79 | N/A | $7,027,399 | N/A | N/A | N/A |
| Natera Inc. (NTRA) | Equity | +100% | 170,326 | 0.07% | $160.97 | $229.76 | $27,417,376 | $39,134,102 | +$11,716,726 | +42.73% |
| Pinterest Inc. (PINS) | Equity | 0% | 1,678,764 | 0.13% | $32.17 | $26.15 | $54,005,838 | $43,891,285 | -$10,114,553 | -18.73% |
| Synopsys Inc. (SNPS) | Equity | +100% | 1,809,127 | 2.19% | $493.39 | $456.26 | $892,605,171 | $825,435,903 | -$67,169,268 | -7.53% |
| Medical Properties Trust Inc. (MPW) | Equity | 0% | 9,050,796 | 0.11% | $5.07 | $5.08 | $45,887,536 | $45,996,145 | +$108,609 | +0.24% |
| Olaplex Holdings Inc. (OLPX) | Equity | 0% | 1,264,968 | 0.00% | $1.31 | $1.25 | $1,657,108 | $1,581,210 | -$75,898 | -4.58% |
| Quantumscape Corp. (QS) | Equity | 0% | 4,294,995 | 0.13% | $12.32 | $12.10 | $52,914,338 | $51,947,965 | -$966,373 | -1.83% |
| Sea Limited (SE) | Equity | 0% | 666,305 | 0.29% | $178.73 | $123.98 | $119,088,693 | $82,608,494 | -$36,480,199 | -30.63% |
| Zillow Group Inc. (Z) | Equity | 0% | 739,700 | 0.14% | $77.05 | $74.83 | $56,993,885 | $55,351,751 | -$1,642,134 | -2.88% |