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Coatue Management

// KEY PEOPLE

Philippe Laffont
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// PORTFOLIO INTELLIGENCE

// COMPANIES TRACKED

64

// PORTFOLIO VALUATION (TRACKED)

$1,338.7B

Combined current valuation of portfolio companies in WOWLS database — not fund AUM or capital deployed

// SECTORS COVERED

83

WOWL HIT RATE: 8%WOWL MISS RATE: 22%

// THREAT LEVEL DISTRIBUTION

  • ARMED
    26 · 40.6%
  • BLOATED
    15 · 23.4%
  • TERMINAL HYPE
    10 · 15.6%
  • DANGEROUS
    5 · 7.8%
  • HUNTED
    2 · 3.1%
  • AI ALCHEMY
    2 · 3.1%
  • ZOMBIECORN
    2 · 3.1%
  • PAPER TIGER
    1 · 1.6%
  • NARRATIVE ENGINE
    1 · 1.6%

Based on 64 enriched portfolio companies

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// 5 TIERS · PAYPAL SECURED

// NOTABLE INVESTMENTS

// PORTFOLIO COMPANIES

64 companies · $1,338.7B combined valuation

COMPANYSECTORVALUATIONROUNDYEARTHREAT
OpenAIai$852BVENTURE_ROUND2025NARRATIVE ENGINE
DoorDashecommerce$45BSERIES_E2018HUNTED
Coreweaveai$35BSERIES_C2024DANGEROUS
UiPathsoftware$35BSERIES_C2019AI ALCHEMY
Rampcorporate cards$32BSERIES_B2021ARMED
Chimefinancial services$25BSERIES_D2019ARMED
Cerebrasai$23BSERIES_D2021ARMED
Snap Incadtech$18BSERIES_C2014TERMINAL HYPE
Deelfintech$17.3BSERIES_C2021ARMED
Grabdeliveries$17BSERIES_D2015ARMED
Discordcommunication software$15BSERIES_H2021ARMED
Skild AIai$14BSERIES_A2024PAPER TIGER
OpenSeablockchain$13.3BSERIES_B2021TERMINAL HYPE
Bitmainblockchain$12BSERIES_A2018TERMINAL HYPE
Checkout.comecommerce$12BSERIES_C2020DANGEROUS
Airtabledata management$11BSERIES_C2018TERMINAL HYPE
Notionproductivity$10BSERIES_C2021ARMED
Instacartfood delivery$9BSERIES_D2017TERMINAL HYPE
Rapydfintech$8.7BSERIES_C2019DANGEROUS
Fireblocksblockchain$8BSERIES_C2021ARMED

// RECENT ACTIVITY

// WOWL ASSESSMENT

Coatue deployed $486.7B across 63 companies in the 2019-2022 bubble — a peak-cycle crossover fund that wrote checks at terminal valuations with minimal selectivity. The portfolio is a museum of 2021 pricing: UiPath at $35B, Snap at $18B, a graveyard of AI infrastructure bets marked down 60-80% from entry. With an 8% hit rate and 22% miss rate, Coatue represents the archetypal tourist fund — venture capital as asset gathering, not company building.

DoorDash remains the flagship win — a legitimate $45B outcome that validates nothing about the rest of the portfolio. UiPath deployed at $35B and is now worth a fraction of that after the RPA bubble collapsed. Snap at $18B — a public company trading 70% below Coatue's entry — exemplifies the fund's timing disaster. The AI infrastructure cluster (Coreweave, Cerebras) represents post-bubble pivot into the next narrative without evidence of conviction or edge.

// THREAT LEVEL: BLOATED

VERDICT: Peak-cycle tourist fund — bought the top, held the bag, rebranded as AI investors.

// WHY WOWLS WATCHES

Coatue is the control group for what happens when capital formation replaces capital allocation. Every markdown, every down-round, every zombie exit teaches the same lesson: size is the enemy of returns when deployed without discipline.

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// LOADING INTEL…

// INTELLIGENCE PENDING

// INTELLIGENCE DISCLAIMER: Fund assessments represent editorial opinion based on publicly available data. Portfolio coverage reflects companies tracked in the WOWLS database and may not represent complete investment history. Hit and miss rates are calculated from tracked portfolio companies only. Not financial or investment advice.

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