Philippe Laffont’s Coatue Management Doubles Down on STEC (STEC)

Philippe Laffont’s Coatue Management Doubles Down on STEC (STEC)
In an amended 13G filing with the SEC, Philippe Laffont’s hedge fund Coatue Management has disclosed a 7.5% ownership stake in STEC (STEC) with 3,763,221 shares. The filing was made due to activity on February 23rd, 2010 and represents a massive increase in their position. As we previously detailed in Coatue’s portfolio, the hedge fund owned 1,864,941 shares of STEC back on December 31st, 2009. So, in the past three months, they’ve increased their position 101.8% by adding 1,898,280 more shares.