Tech-focused hedge fund Whale Rock Capital significantly trimmed losses in May, with its flagship hybrid fund gaining 8.7%, halving its year-to-date decline to 8.7%, according to a report by Institutional Investor citing sources familiar with the matter.
A public-equity-only share class surged 12% in May, reducing its 2025 loss to 12%. Meanwhile, Whale Rock’s long-only strategies outperformed, with its public-and-private fund up 15.2% for the month and 2% year-to-date, and its public-only long fund gaining 17.6% in May, pushing it to a 2.2% year-to-date return.
The rebound was driven by strong performance across core holdings including Celestica (+35%), Applovin (+46%), and Duolingo (+33%), alongside gains in Amazon, Meta, and other tech names. The firm’s US stock portfolio stood at $5.76bn at the end of March, down from $8.44bn at year-end due to earlier losses.
