Hedge Fund Coatue Management Files 13G on Silicon Motion Technology (SIMO) ~ market folly

Thursday, September 17, 2009

Hedge Fund Coatue Management Files 13G on Silicon Motion Technology (SIMO)

In keeping with the theme of tracking Coatue Management's portfolio, we wanted to also post up their most recent portfolio activity as indicated by SEC filings. Since we hadn't been tracking them in-depth, we need to play a little bit for catch-up here. Philippe Laffont's hedge fund filed a 13G on Silicon Motion Technology (SIMO). They disclosed a 7.4% ownership stake in the company with 2,067,014 shares. This is an increase from their previous 795,514 shares reported on their most recent 13F filing (which shows holdings as of June 30th, 2009). As such, in the past 3 months Coatue has significantly boosted their SIMO stake. Just yesterday, we disclosed some of Coatue's positions in UK markets.

Coatue is a long/short equity hedge fund in the true sense of the definition. They specialize in technology, media and telecom. Fund manager Philippe Laffont is a 'Tiger Cub' and worked for Julian Robertson at Tiger Management. Now running his own fund, Laffont focuses on in-depth proprietary research of individual companies and sectors. Head over to our background post on Laffont and Coatue for more information on them.

Taken from Google Finance, Silicon Motion Technology is "a fabless semiconductor company that designs, develops and markets, high-performance, low-power semiconductor solutions for the multimedia consumer electronics market. It has three product lines: mobile storage business, multimedia systems-on-a-chip (SoC) business, and mobile communications business."

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