COATUE LONG ONLY OFFSHORE FUND, LTD.

Coatue's absence from prior EDGAR filings paired with this long-only equity mandate signals the firm is formalizing or institutionalizing a strategy that may have previously operated as a separately managed account program or internal co-investment vehicle; this is a first formal fund filing from the manager, not a continuation of a numbered series.

A May 2026 amendment filing for a long-only offshore vehicle arrives into a market environment where allocators are rotating from opportunistic hedge strategies back into equities and where non-US capital (particularly Asia-Pacific and Middle Eastern LPs) is competing aggressively for access to differentiated equity managers; the timing reflects LP demand for clean long-only structures rather than hybrid or multi-strategy approaches.

Before committing, verify whether the four named GPs hold equal economic stakes or whether Eric Sacks functions as the sole portfolio manager with the others serving administrative or operational roles—this affects succession risk and whether the fund is truly a multi-founder partnership or a single PM vehicle with distributed governance; also confirm whether this filing supersedes any prior separately managed account agreements that may contain different fee or liquidity terms.