Hedge fund manager Philippe Laffont recently trimmed his stake in Meta Platforms and bought stock in The Trade Desk.

Billionaire Philippe Laffont is the founder and portfolio manager at Coatue Management, a hedge fund that nearly tripled the returns of the S&P 500 ( ^GSPC -0.05% ) in the last three years. That makes him a good role model for individual investors.

Laffont made some interesting trades during the second quarter. He sold 76,900 shares of Meta Platforms ( META 0.70% ) , a popular artificial intelligence stock that has beat the S&P 500 by 16 percentage points this year. He also added 998,900 shares of The Trade Desk ( TTD -0.19% ) , the worst-performing stock in the S&P 500 year to date.

Does Laffont know something Wall Street doesn't?

Meta Platforms:

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