Renowned investor Philippe Laffont recently disclosed his firm's portfolio updates for the second quarter of 2023, which ended on June 30, 2023. Laffont is known for his strategic investment approach, focusing on long-term growth opportunities, particularly in the technology sector. His firm's portfolio for Q2 2023 comprised 91 stocks, with a total value of $20.41 billion.
The top holdings in Laffont's portfolio were NVDA (9.63%), MSFT (8.83%), and META (7.98%).
Top Three Trades of the Quarter
Among the most significant transactions of the quarter were trades involving Amazon.com Inc (NAS:AMZN), Microsoft Corp (NAS:MSFT), and Meta Platforms Inc (NAS:META).
Amazon.com Inc (NAS:AMZN)
During the quarter, Laffont purchased 6,918,217 shares of Amazon, bringing his total holding to 12,448,010 shares. This trade had a 4.42% impact on the equity portfolio. The stock traded for an average price of $114.02 during the quarter. As of August 14, 2023, Amazon's stock price was $139.3942, with a market cap of $1,441.58 billion. Over the past year, the stock has returned -2.65%. GuruFocus rates Amazon's financial strength and profitability 6 out of 10 and 8 out of 10, respectively. The company's valuation ratios include a P/E ratio of 110.01, a P/B ratio of 8.55, a PEG ratio of 4.74, an EV/Ebitda ratio of 23.97, and a P/S ratio of 2.71.
Microsoft Corp (NAS:MSFT)
Laffont also increased his stake in Microsoft by purchasing an additional 2,135,750 shares, bringing his total holding to 5,291,784 shares. This trade had a 3.56% impact on the equity portfolio. The stock traded for an average price of $313.01 during the quarter. As of August 14, 2023, Microsoft's stock price was $321.72, with a market cap of $2,396.92 billion. The stock has returned 11.35% over the past year. GuruFocus rates Microsoft's financial strength and profitability 8 out of 10 and 10 out of 10, respectively. The company's valuation ratios include a P/E ratio of 33.29, a P/B ratio of 11.63, a PEG ratio of 1.80, an EV/Ebitda ratio of 22.24, and a P/S ratio of 11.35.
Meta Platforms Inc (NAS:META)
Conversely, Laffont reduced his investment in Meta Platforms by 2,386,010 shares, which had a 3.36% impact on the equity portfolio. The stock traded for an average price of $246.21 during the quarter. As of August 14, 2023, Meta's stock price was $303.02, with a market cap of $783.15 billion. The stock has returned 68.45% over the past year. GuruFocus rates Meta's financial strength and profitability 8 out of 10 and 10 out of 10, respectively. The company's valuation ratios include a P/E ratio of 35.47, a P/B ratio of 5.82, a PEG ratio of 2.30, an EV/Ebitda ratio of 19.71, and a P/S ratio of 6.64.
In conclusion, Philippe Laffont (Trades, Portfolio)'s Q2 2023 portfolio update reveals a continued focus on technology giants, with significant transactions involving Amazon, Microsoft, and Meta Platforms. These trades reflect Laffont's investment philosophy of capitalizing on long-term growth opportunities in the tech sector.
