Dan Sundheim and the Tiger Cubs dominate mid-year market returns

Sundheim’s strategy, which manages roughly $40 billion, pivoted away from a singular reliance on tech. Regulatory filings show the fund entered the second quarter with significant positions in James Hardie International and US Foods, both of which climbed more than 20% this year. Notably, the firm’s well-known stake in SpaceX remains siloed within its private markets fund, leaving the public equity book to capture gains from more traditional industrial and food service sectors.

The success extended across the Tiger Management family tree, where managers with roots under the late Julian Robertson posted double-digit monthly figures. Glen Kacher’s Light Street Capital surged 11.9% in June, bringing the $1.6 billion fund’s year-to-date performance to over 37%. Similarly, Philippe Laffont’s Coatue Management recovered from a difficult first quarter to finish the half up 24.5%, bolstered by a 4.7% gain in June. While the firms remain tight-lipped on specific drivers, recent filings confirm that Coatue and Light Street maintain heavy exposure to artificial intelligence leaders, including Broadcom and Taiwan Semiconductors.