Coatue Management’s flagship hedge fund returned 4.7% in June, lifting its year-to-date gain to 24.5% as technology stocks continued to benefit from investor enthusiasm around artificial intelligence, according to a report by Bloomberg.
The latest gains mark a strong recovery for Philippe Laffont’s firm after a near-5% decline in March, when heightened geopolitical tensions weighed on global markets. June followed an exceptionally strong May, during which the flagship fund posted a 14.2% return—its best monthly performance in more than 25 years.
Coatue’s results reflect a broader trend among technology-focused hedge funds, many of which have outperformed this year as AI-related stocks continue to lead equity markets. The Nasdaq 100 gained around 20% in the first half of 2026, outpacing the broader S&P 500.
The firm’s portfolio remains heavily concentrated in technology, with the sector accounting for more than 40% of its US long equity exposure at the end of the first quarter. Coatue has maintained a constructive long-term view on AI, with Laffont arguing that the technology will drive investment opportunities across sectors including digital infrastructure and energy.
