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A Billionaire Just Bought One of My Favorite Stocks. Should You Jump in Too?
During the first quarter, billionaire investor Philippe Laffont of Coatue Management added one of my favorite stocks to his portfolio: Philip Morris International (NYSE: PM). The tobacco company has the rare combination of being a growth stock in a defensive industry.Laffont is best known for being a tech investor, and this can be seen in the makeup of his portfolio. Among his top-10 holdings are Meta Platforms, Amazon, Taiwan Semiconductor, Microsoft, Nvidia, Spotify, and Atlassian. However, he will venture into other industries and has large positions in utility Constellation Energy and industrial giant Eaton. So, while Philip Morris International is a departure from his typical technology investment, it's not completely out of his wheelhouse. During the first quarter, he bought just over $220 million worth of the stock. It was his fourth-largest purchase and second-largest new addition, behind a $555 million investment in data center developer CoreWeave.Continue reading
During the first quarter, billionaire investor Philippe Laffont of Coatue Management added one of my favorite stocks to his portfolio: Philip Morris International (NYSE: PM). The tobacco company has the rare combination of being a growth stock in a defensive industry.
Laffont is best known for being a tech investor, and this can be seen in the makeup of his portfolio. Among his top-10 holdings are Meta Platforms, Amazon, Taiwan Semiconductor, Microsoft, Nvidia, Spotify, and Atlassian. However, he will venture into other industries and has large positions in utility Constellation Energy and industrial giant Eaton.
So, while Philip Morris International is a departure from his typical technology investment, it's not completely out of his wheelhouse. During the first quarter, he bought just over $220 million worth of the stock. It was his fourth-largest purchase and second-largest new addition, behind a $555 million investment in data center developer CoreWeave.
