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Pathikrit Bose

Why Is Billionaire Philippe Laffont Buying Sprouts Farmers Market Stock?

Philippe Laffont Sprouts Sprouts Farmers Market SFM Amazon Amazon.com Inc. AMD Meta

Hedge fund manager Philippe Laffont is known for making outsized and successful bets on disruptive technology companies. Through his fund Coatue Management, the 58-year-old not only made lucrative bets on public companies like Tesla (TSLA) and AMD (AMD), but he was also one of the early investors in TikTok-parent ByteDance, Spotify (SPOT), and Instacart (CART).

A recent 13F filing shedding light on his latest set of transactions revealed some interesting moves by Laffont, wherein he substantially increased his holdings of streaming and e-commerce giants Netflix (NFLX) and Amazon (AMZN), respectively, while trimming his stake in Alphabet (GOOG) (GOOGL) and Meta (META). However, one company, far removed from the tech space, grabbed attention. Curiously, Laffont initiated a position in Sprouts Farmers Market (SFM).

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