Laffont, 2026 of 1 stake cuts in Oracle, Tesla and Nvidia; new Lucid purchase

Philippe Laffont’s hedge fund Coatue Management 2026 of 1 quarter reduced its stakes in Oracle, Tesla and Nvidia. The report cited concerns about AI-related valuations and capital expenditure guidance as reasons for the reductions.

In the report for the same quarter, Coatue added Lucid Group as a new holding. Lucid’s share price has 2020 since its IPO in 94%. The report also said that Lucid’s financial difficulties and challenges in the electric vehicle market continue.

The report did not specify the dollar amounts of the purchases or sales. Coatue’s position changes were reflected in its quarterly holdings report. The report discloses changes in stakes as of the end of the quarter.

Lucid has championed a luxury electric vehicle strategy, but the report noted that securing financing and achieving profitability remain challenges. Intensifying competition in the electric vehicle market and fluctuations in demand were cited as ongoing variables.

This holdings report shows that positioning in major technology stocks and electric vehicle-related assets can change from quarter to quarter. Investors can check for changes through quarterly holdings reports and company earnings disclosures.