What smart money is saying about Coupang, Inc.
2 funds in our archive have pitched Coupang, Inc., most recently Oakmark International Fund in March 2026.
Coupang, Inc. owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It operates through two segments, Product Commerce and Growth Initiatives. The company sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services. It also performs operations and support services in China, Singapore, Japan, Taiwan, and the United States. Coupang, Inc. was incorporated in 2010 and is headquartered in Seoul, South Korea.
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Position history
Between Q2 2025 and Q2 2026, 9 fund letters reported a position in Coupang, Inc., with no move described.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 4 | 0 | 0 | 0 |
| Q1 2026 | 1 | 0 | 0 | 1 |
| Q4 2025 | 3 | 0 | 0 | 1 |
| Q2 2025 | 1 | 0 | 0 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 9 positions
- HoldsACATIS InvestmentJune 2026
Listed in ACATIS Investment’s reported holdings.
Coupang, Inc. - June 2026
Listed in ACATIS Investment Report’s reported holdings.
Coupang, Inc. - June 2026
“Coupang, Inc., Korea's largest e-commerce platform, detracted from performance with shares down 7.7%. The stock came under pressure following first-quarter results, where in-line revenue was overshadowed by softer second-quarter guidance as capacity and supply chain investments made ahead of Coupang’s 2025 data breach weighed on margins while customer volumes recovered. Sentiment was further weighed down by a record KRW 624.7 billion (about US $430 million) privacy fine stemming from an investigation into the breach, while a rotation of fast money into AI and semiconductor names added to the weakness. Despite these headwinds, our conviction remains intact.”
Coupang, Inc. - June 2026
“Other stocks where the markets seem to be taking a view that they could be long-term losers in an AI world are the ecommerce companies like MercadoLibre (6.6% of Strategy), Sea Limited (6.2%), and Coupang (4.1%). These are all very profitable businesses trading at low-teens multiples barely 2 years out, despite having a decade or more of well-above-normal growth ahead of them.”
Coupang, Inc. - HoldsMiller Value FundsMarch 2026
“Coupang Inc. (CPNG)”
Coupang, Inc. - December 2025
“The top absolute detractors to investment results during the quarter were Axon Enterprise, Ajinomoto, Coupang, ServiceNow, and Ferrari. Axon Enterprise is a leading provider of public-safety technology, including body cameras, software, and the TASER electroshock device. Shares declined following third-quarter 2025 results, weighed down by a GAAP net loss and a 50-basis-point drop in adjusted gross margins due to tariffs and product mix. Investor skepticism toward Axon’s $1.4 billion push into emergency dispatch, through 1 5 · S A N D S CA P I TA L · G LO B A L L E A D E R S · D E C E M B E R 2 0 2 5 the Prepared and Carbyne acquisitions, also pressured the stock. The market remains cautious about Axon’s return to a category where previous industry efforts have struggled. We believe this overlooks the strategic shift toward a cloud-native, AI-enabled platform integrated into Axon’s broader public-safety ecosystem. Despite the selloff, Axon delivered its seventh consecutive quarter of revenue growth above 30 percent, raised full-year guidance, and maintained 124 percent net revenue retention. Annual recurring revenue rose 41 percent year over year. In our view, the stock’s decline, which was amplified by a broader pullback in high-growth stocks during November, presents a compelling valuation opportunity for this public-safety technology leader. Ajinomoto is the world’s largest producer of amino acids by market share. Shares declined after second-quarter results, as investors focused on persistent challenges in the Frozen Foods segment and near-term earnings risk. While sales and business profit were flat and full-year guidance was reaffirmed, significantly lower sales and profit in Frozen Foods raised concerns about the company’s ability to turn around its largest underperforming division. This segment remains the biggest source of uncertainty in meeting full-year targets. Although Functional Materials and Healthcare delivered solid growth and operating cash flow improved, these positives were not enough to offset disappointment in Foods. The market reaction also reflected skepticism around the timing and strength of the expected second-half recovery. Questions remain about whether pricing actions, portfolio changes, and improved execution will be sufficient to drive a meaningful rebound. As a result, investor sentiment weakened, despite intact long-term fundamentals in Ajinomoto’s higher-growth businesses. Coupang is South Korea’s largest ecommerce platform by market share.”
Coupang, Inc. - December 2025
“Coupang is South Korea’s largest ecommerce platform by market share.”
Coupang, Inc. - HoldsOctahedron CapitalDecember 2025
“Any investment examples contained in this presentation have been included to demonstrate Octahedron’s investment strategy and investment process, and represent investments that Octahedron currently is following, including the four largest positions that are currently in the Funds’ portfolio (i.e., Snowflake, Amazon, Uber and Coupang).”
Coupang, Inc. - June 2025
“Long-term investments and top ten holdings MercadoLibre (MELI), Coupang, and Eternal (formerly known as Zomato) led the way with an average quarterly gain of 34% compared to the 9% gain for the Index.”
Coupang, Inc.
Fund coverage · 2 theses
- Oakmark International FundMarch 2026
Coupang, Inc. is South Korea's leading e-commerce platform with a vertically integrated logistics moat enabling share gains and margin expansion, now available at an attractive valuation post-cyber incident.
Read the full thesis - Sands Capital Global LeadersDecember 2025
Coupang is Korea’s leading ecommerce platform investing for long-term growth in Taiwan with attractive valuation versus strong expected EBITDA growth.
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