Billionaire tech investor and Coatue Management founder Philippe Laffont believes the elite Magnificent 7 tech index is obsolete. Instead, he argues the market has evolved into a new “Mag 11” or “Mag 12” that now includes traditional, non-tech titans like Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK) and Eli Lilly & Co. (NYSE:LLY), fundamentally shifting the trillion-dollar landscape.
Redefining The Trillion-Dollar Club
Speaking about the future of global markets with CNBC, Laffont detailed his strategy of hunting for the next multi-trillion-dollar companies. He noted that the previously exclusive group of high-growth tech firms dominating the market—often called the Mag 7—is expanding rapidly right in front of investors.
“The Mag Seven is sort of changing in front of our eyes,” Laffont explained. “It’s really no longer quite the same. First, I think it’s more like Mag 11. Mag 12.”
By redefining the index based purely on market capitalization rather than industry sector, the tech-focused hedge fund manager surprised listeners by highlighting companies far removed from Silicon Valley.
“If you think that the Mag is every company over a trillion… you’ve got 11 or 12,” he noted. “I think Berkshire, Eli Lilly, there’s a couple non-tech ones,” mapping out the broadened club.
The Tech Giants Still In Play
Despite broadening the list to include legacy conglomerates and pharmaceutical giants, Laffont remains focused on the core tech engines driving massive valuations.
He quickly added that hardware and semiconductor manufacturers like Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM) and Broadcom Inc. (NASDAQ:AVGO) have firmly cemented their place in this newly minted “Mag 12.”
Looking out ten to fifteen years, Laffont is playing the long game to uncover which companies will capture up to 5% of the total global market capitalization—a threshold that could birth a $10 trillion company.
Spotting The Future Index
Laffont also highlighted private companies as serious contenders to join this elite public group in the near future. He predicted that AI and aerospace disruptors like OpenAI and Anthropic, apart from Space Exploration Technologies Corp. (NASDAQ:SPCX), are poised to enter the trillion-dollar fray.
Meanwhile, lately, retail investors and market commentators have also been popularizing MANGOS: Meta Platforms Inc. (NASDAQ:META), Anthropic, Nvidia Corp. (NASDAQ:NVDA), Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), OpenAI, and SpaceX.
“What’s fun for me and what keeps me going is to imagine sort of this index of the future and who’s going to be in that index of the future,” Laffont said.
How Have AVGO And LLY Performed In 2026?
AVGO shares have gained 9.84% year-to-date, declined by 8.21% over the last month, and advanced 49.80% over the year. Benzinga’s Edge Stock Rankings indicate that AVGO maintains a weak price trend in the short term but a strong trend in the long and medium terms, with a solid quality score.
Meanwhile, LLY was p 3.01% YTD, 3.95% over the month, and 43.66% over the year. Benzinga’s Edge Stock Rankings indicate that LLY maintains a strong price trend in the short, long, and medium terms, with a good growth score.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: MMD Creative on Shutterstock.com
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