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COATURE MANAGEMENT revealed a REDDIT participation of $ 1 billion in the fourth quarter.
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The Reddit stock is in tears, almost tripled since October in the middle of solid income.
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The Hedge Fund has also revealed a reduction in Chinese actions and new positions in several technological names.
A cover fund followed closely Reddit last quarter stock.
COATURE Management, one Hedge Fund led by the former Tiger Management employee, Philippe Laffont, reported a 6.5 million participation in the social media company in his latest 13F.
The file, produced with the SEC last week and December 31, revealed that the participation of almost $ 1.1 billion Reddit represented approximately 3.6% of the $ 59 billion portfolio in Trees -publicly.
According to BloombergThe Hedge Fund returned 19% in 2024 compared to the gain of the S&P 500 of around 23%.
The recently established participation of the hedge fund in the social media company has already proven profitable if it has kept the actions so far this year.
On the basis of current prices, the participation of Reddit of Cleue is worth around $ 1.2 billion, which represents a gain of $ 141 million for the start of the year, assuming that the hedge fund still retains the action.
Although the exact price that the fund is paid for action is not known, Reddit shares have jumped 14% since 2025 and increased by 193% in the last five months. Meanwhile, the S&P 500 returned by 4% at the start of the year.
Reddit’s big gains in recent months have been motivated by a solid report on the third quarter results Released at the end of October. The company revealed a surprise profit, a growth in income from one year over the other of 68% and an increase of 47% of daily active users.
The action culminated at around $ 228 per share on February 10 and decreased by around 20% since then. Investors still digest the results of the profits of the fourth quarter of Reddit last week, which revealed an increase in expenses of 52% and a hiccup of traffic due to a change in the Google search engine.
“We expect Reddit to continue to progress through its complete diversification of combinations while offering strong income growth and better profitability,” JPMorgan analysts wrote in a recent note, adding that future changes to Google Search are a longer term risk.
The Reddit Reddit bank to “neutral” and estimates that it is negotiated at approximately the fair value with a price target of $ 185.
Other important movements made by coatum during the fourth quarter included a large sale of her Chinese actions and newly established positions in Charles Schwab,, Affirm,, OktaAnd Datadog.
The three largest assets of the hedge fund on December 31 were Amazon,, Meta-platformsAnd Taiwan Semiconductor Manufacturing Company.
