Valiant Capital Management has emerged as the standout performer among Tiger Cub hedge funds in 2025, fuelled by aggressive positioning across power markets, semiconductors, and digital infrastructure, according to a report by Institutional Investor.
The San Francisco-based long-short equity firm, led by Chris Hansen, gained 6.2% in September and is now up 30.8% year-to-date, according to investor correspondence. A dedicated side pocket vehicle focused on power assets surged 9.4% last month and 44.7% for the year.
Valiant’s performance has been driven by a major bet on Core Scientific, the crypto miner turned data-centre operator, which rose 25% in September amid its $9bn acquisition by CoreWeave. The fund also benefited from strong gains in Taiwan Semiconductor (+21%) and Broadcom (+11%), reflecting a continued hedge fund rotation into AI and chipmakers.
Among other Tiger-affiliated managers, Lone Pine Capital advanced 23% year-to-date in its long-short fund and 26% in its long-only vehicle, supported by exposure to TSMC and Carvana. Discovery Capital, led by Robert Citrone, climbed 5.5% in September and 25% for the year, with AI, digital assets, and rare earths driving returns.
Light Street Capital rose 5.6% in September (+11.5% YTD), Coatue Partners gained 5.7% (+14.7% YTD), and D1 Capital Partners remains up 23.5% despite a marginal monthly dip.
Maverick Capital added modestly (+1.2% in September; +19% YTD), while Tiger Global Management advanced 2% in its long/short fund and 22.6% in its crossover vehicle.
Viking Global Investors continues to trail the group, up 5.6% for the year, reflecting its lower exposure to high-beta tech and AI names — a stance that has kept volatility subdued but returns comparatively muted.
