Coatue Management's hedge fund has delivered another strong month, rising 4.7% in June as technology stocks tied to the artificial intelligence boom continued to gain momentum. According to a person familiar with the matter, the latest result lifted the fund's return this year to 24.5%, reflecting a sharp rebound for Philippe Laffont (Trades, Portfolio)'s tech-focused strategy after a difficult March.
The June performance followed a major 14.2% advance in May, which marked Coatue's best monthly gain in more than a quarter-century. The fund had previously lost almost 5% in March, when the war in the Middle East weighed on markets and hurt performance. Coatue's latest gains also come as many stock-picking hedge funds with large exposure to major technology companies are posting strong returns this year.
Coatue's positioning could remain important for investors watching the next phase of the AI trade. The tech-heavy Nasdaq 100 NASDAQ:QQQ climbed 20% in the first half of 2026, roughly twice the gain of the S&P 500 (SPY). 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.