Billionaire Philippe Laffont Dumped His Fund’s Stake in Nvidia-Backed CoreWeave and Boosted His Position in Wall Street’s Hottest Stock-Split Stock by 76%

There’s arguably nothing more exciting than the quarterly filing of Form 13Fs. While quarterly operating results provide investors with an under-the-hood look at how the stock market’s most influential businesses are performing, 13Fs offer a concise snapshot of the stocks Wall Street’s savviest money managers bought and sold in the latest quarter.

Feb. 17 marked the deadline for institutional investors with at least $100 million in assets under management to file a 13F with regulators. Billionaire Philippe Laffont’s 13F at Coatue Management is among the most anticipated. During the fourth quarter, Coatue’s billionaire boss dumped his entire stake in Nvidia-backed artificial intelligence (AI) juggernaut CoreWeave (NASDAQ: CRWV), and increased his position in Wall Street’s blockbuster stock-split stock by 76%.

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Coatue Management’s billionaire investor is active, with 35 stocks being cut completely during the fourth quarter and another two dozen existing holdings reduced in size. The largest individual stock sale was the 6,724,615 shares of CoreWeave that were given the boot, totaling over $920 million in market value, as of Sept. 30.

The most logical reason behind this sale is simple profit-taking….