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Coatue Hedge Fund Gains 4.7% in June on AI Stock Rally, 24.5% Year to Date

July 2, 2026 at 10:43 EDT

Funding & M&A
Infra & Chips
Foundation Models

Coatue Management's hedge fund, led by Philippe Laffont, rose 4.7% in June 2026, lifting its year-to-date return to 24.5%. A rally in technology stocks benefiting from the artificial intelligence boom drove the gains.

June 2026 · Coatue Management

AI Rally Powers Coatue's Flagship Fund to +24.5% for 2026

Philippe Laffont's tech-focused hedge fund gained 4.7% in June, riding an AI-driven surge in semiconductor equipment and infrastructure stocks — its "picks-and-shovels" bet on the boom.

+4.7%

Flagship hedge fund return, June 2026

+24.5%

Year-to-date return, 2026

~$70B

Total assets under management

Two Coatue funds, two return tracks

Year-to-date % return (scaled to size) — distinct products

+24.5%

Flagship
hedge fund

+30.26%

CTEK Class I
(May 2026)

The "Picks-and-Shovels" Bet

Rather than chasing single chipmakers, Coatue backs the suppliers that arm the whole AI build-out.

TSMC — top position Broadcom — high conviction Applied Materials

Plus private stakes in OpenAI, Anthropic, Databricks and SpaceX — with future IPOs part of the thesis.

The bull case

Supplier focus gives valuable, diversified exposure to AI demand across chips, equipment and materials.

The caveats

Monthly figures aren't officially disclosed; past AI calls were sometimes underestimated. Don't overstate a fund's edge.

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