Billionaire Philippe Laffont is known for investing in technology winners. The founder of Coatue Management oversees $39 billion in 13F securities, and tech stocks are consistently at the top of his investment list. His four biggest holdings are in this industry, led by Taiwan Semiconductor Manufacturing -- the chipmaker represents more than 6.5% of his portfolio.
That's why it may be surprising to learn that Laffont, in the fourth quarter of last year, sold his entire position in CoreWeave (CRWV +2.01%), one of today's most talked-about artificial intelligence (AI) stocks. CoreWeave rents out capacity for AI workloads to customers, and this business has fueled triple-digit revenue growth and stock price gains.
During the same quarter, Laffont bought a biotech stock that has struggled in recent years but soared nearly 50% in January. So Laffont locked in gains on CoreWeave and set himself up to potentially win from a new growth bet. Let's check out the details.
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Why listen to billionaires?
First, though, a quick note about why it's important to consider the latest moves of billionaires. These investors have proven their knowledge of the market over time, as it's helped them to build significant wealth. This doesn't mean that every move they make is right for us -- the billionaire we're watching might have a higher risk tolerance, for example, or an investment focus that's different from ours. But, from time to time, we might see a move that fits our investment strategy -- and follow that particular billionaire into an exciting investment story.
How do we learn about these investment moves? This is thanks to 13F filings, forms managers of more than $100 million in securities must file quarterly to reveal their latest transactions. These filings offer us a peek at their recent moves and may spark inspiration as we seek new opportunities in the stock market.
Laffont's latest moves
Now, let's consider the moves Laffont made in the latest quarter.
- Laffont sold his entire CoreWeave position, one that made up more than 2.2% of his portfolio. He initially bought CoreWeave, which launched an initial public offering in late March of last year, around that time.
- Laffont opened a position in Moderna (MRNA 1.76%), buying 200,000 shares. This is a very small position, accounting for 0.01% of his portfolio.
The billionaire clearly generated significant returns from his CoreWeave purchase since the stock climbed about 80% from its initial public offering through the end of 2025.
As for Moderna, Laffont's bet is a very small one, but it's interesting all the same. Moderna was once a highflier when it released its coronavirus vaccine in the early pandemic days. Once demand for the vaccine started declining, the stock struggled. It's lost more than 70% over the past three years.
NASDAQ: MRNA
Key Data Points
Favoring long-term success
But Moderna has cut costs and shifted the focus of its portfolio to favor long-term success. The company, which already sells coronavirus and respiratory syncytial virus (RSV) vaccines, aims to add a flu vaccine to that lineup and use sales from this respiratory franchise to fund the development of other programs -- those in oncology and rare diseases. Moderna already has an oncology candidate in phase 3 trials and many other investigational drugs in the pipeline. So, this struggling biotech may offer investors a bright turnaround story a few years down the road, as its clinical programs reach the finish line.
Moderna stock jumped nearly 50% in January, offering Laffont and other shareholders a reason to cheer. Its path may not be linear as it faces a difficult regulatory environment, but the company has what it takes to excel over the long term if even a handful of its candidates reach commercialization.
Laffont didn't explain the reasons for his recent moves, but it's clear that he appreciates Moderna's innovation -- the company is an mRNA specialist -- and likely sees potential for a new era of growth ahead. So Laffont, who already scored a win through his CoreWeave investment, may have been looking for a new growth opportunity.
Is Moderna right for you? Moderna may not recover overnight, but, as mentioned, the biotech has an interesting pipeline -- and candidates in late-stage development. So, if you're looking for a biotech that may bloom over the long term, you might follow Laffont and pick up a few shares of Moderna.
