Coatue Management's hedge fund has returned 24.5% this year after a 4.7% gain in June, riding a rally in AI-linked technology stocks. The result marks a sharp rebound for Philippe Laffont's tech-focused strategy following a loss in March.
Coatue Management's hedge fund rose 4.7% in June as technology stocks tied to the artificial intelligence boom kept gaining. According to a person familiar with the matter, that result lifted the fund's return this year to 24.5%, a rebound for Philippe Laffont's strategy after a difficult March.
A rebound after a March loss
The June gain followed a 14.2% advance in May, which marked its best monthly gain in more than a quarter-century. The fund had earlier lost almost 5% in March, when the war in the Middle East weighed on markets and hurt performance.
Coatue is not alone. Many stock-picking hedge funds with large exposure to major technology companies are posting strong returns this year.
Betting on the next phase of the AI trade
The tech-heavy Nasdaq 100 climbed 20% in the first half of 2026, roughly twice the gain of the S&P 500. Filings show that technology represented more than 40% of Coatue's total US long stock wagers as of March 31.
The firm appears to be betting that this exposure could help it benefit from a possible AI supercycle in the coming years, with Laffont arguing that artificial intelligence may also support demand across related industries such as energy and infrastructure.
Source: GuruFocus
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