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Billionaire investor Philippe Laffont of Coatue Management has made significant changes to his portfolio, selling off shares of Nvidia, a leading AI stock, by 26%. This decision comes after a successful first half of 2024 with Nvidia, which was once a major holding valued at $1.2 billion. Laffont is now focusing on two pharmaceutical companies, Novo Nordisk and Eli Lilly, which are leading the anti-obesity market.
Laffont increased his stake in Novo Nordisk significantly, while also boosting his investment in Eli Lilly. Both companies are experiencing rapid growth in the anti-obesity drug market, projected to expand dramatically in the coming years. The competition between these two firms in the GLP-1 drug market is expected to intensify, with innovative treatments on the horizon.
• Philippe Laffont sold Nvidia shares to invest in anti-obesity drugmakers.
• Novo Nordisk and Eli Lilly are leading the growing GLP-1 drug market.
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