CPNG
LONGSHORTINSIDER SELLCoupang Inc
Research: Finviz ↗·Perplexity ↗
🗄 Viewing archived Q1 2026 data — frozen, no longer refreshed.
News Summary
NegativeCoupang faces significant headwinds in H2 2026 with a $410M South Korean regulatory fine, margin compression of 300-400 bps expected through Q3, and full-year EPS guidance cut to -$0.175 per share. While Q2 EPS beat expectations and developing offerings revenue accelerated, persistent operational challenges from a prior data incident and elevated tax rates (75-80%) continue to pressure profitability, with margin recovery not expected until mid-2027.
Red flags
- •$410 million South Korean regulatory fine for data breach and privacy violations, included in Q2 results; additional securities class action lawsuits in US
- •Full-year EPS guidance revised down 23% to -$0.175 per share from -$0.142; consensus loss expectations worsening
- •Gross margin contracted 188 bps YoY in Q2 to 28.2%; operating margin deteriorated to -6.3% from +1.7% YoY
- •Q2 revenue missed analyst estimates by 2.2% at $8.86B vs $9.05B expected
- •Developing Offerings segment projected to lose $950M–$1.0B in FY2026 despite 24% constant currency growth
- •Elevated effective tax rate of 75-80% for FY2026 due to losses in Taiwan and Japan operations
- •Guidance calls for additional 300-400 bps adjusted EBITDA margin contraction in Q3; recovery delayed to mid-2027
- •Board member Kevin Warsh departure due to Federal Reserve appointment; leadership transition during operationally stressed period
Funds Buying (4)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Tiger Global | Chase Coleman | 34.6M | +8.3M | $653M | 2.9% | +32% | Existing |
| Dragoneer | Marc Stad | 27.9M | +6.3M | $526M | 17.5% | +29% | Existing |
| D1 Capital | Dan Sundheim | 11.6M | +11.6M | $219M | 2.0% | — | NEW |
| Point72 | Steve Cohen | 7.8M | +1.6M | $147M | 0.3% | +26% | Existing |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where CPNG ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
position #2 of this fund's book
- 1NVIDIA CORPORATION$650M
- 2COUPANG INC$526M
- 3META PLATFORMS INC$408M
- 4CARVANA CO$394M
- 5GLOBAL E ONLINE LTD$343M
position #12 of this fund's book
- 9GE VERNOVA INC$849M
- 10LAM RESEARCH CORP$833M
- 11SPOTIFY TECHNOLOGY S A$767M
- 12COUPANG INC$653M
- 13APPLIED MATLS INC$566M
- 14CORPAY INC$510M
- 15APPLOVIN CORP$398M
position #24 of this fund's book
- 21LINEAGE INC$242M
- 22DISNEY WALT CO$227M
- 23SCHWAB CHARLES CORP$222M
- 24COUPANG INC$219M
- 25DOORDASH INC$216M
- 26CARVANA CO$210M
- 27CAPITAL ONE FINL CORP$204M
Values are quarter-end position sizes. Shown only for funds where CPNG ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Funds Reducing / Exiting (3)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Duquesne Family Office | Stanley Druckenmiller | 2.7M | -4,106,220 | $50M | 3.8% | -61% | Existing |
| Altimeter Capital | Brad Gerstner | 0 | −15.7M | — | 5.6% | -100% | EXITED |
| Maverick Capital | Lee Ainslie | 0 | −1.4M | — | 0.3% | -100% | EXITED |
Shares Held reflects quarter-end positions for partial reductions. Funds that fully exited show 0 shares held. ∆ Shares is the change from the prior quarter. % of Fund is the prior-quarter position size — how much of the book was sold down.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | SHORT | 3 | 3.34 | -8.5% |
| Q1 2026 | SHORT | 3 | 3.62 | -34.3% |
| Q1 2026 | LONG | 4 | 5.26 | -34.3% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.