Philippe Laffont's Coatue Management significantly boosted its investment in Amazon (AMZN) during the second quarter of 2026. The technology-focused hedge fund purchased an additional 3.9 million shares, expanding its total position by 49.23% to 11.83 million shares. This increased the total reported value of its holding to $2.82 billion, representing a 5.80% weight in the fund's portfolio.
This trade was disclosed in an August 14 filing with the SEC, which reflects portfolio changes made during the quarter ending June 30, 2026. The purchase occurred during a period of strong performance for Amazon, which reported that its Q2 revenue grew 20% year-over-year to $200.6 billion, beating analyst expectations. The company cited its Prime Day event shifting into the second quarter and accelerating growth in its AWS cloud computing division as key drivers.