- Coatue Management scored a 52% gain this year by betting on Tesla and against German fintech Wirecard, the Financial Times reported.
- The $11 billion tech-focused hedge fund is run by “Tiger cub” Philippe Laffont, who previously worked at billionaire Julian Robertson’s Tiger Management.
- Coatue held 3.1 million Tesla shares at the end of the third quarter that are now worth $1.3 billion, the FT said.
- The fund’s performance eclipses the average 17% return gained by tech-focused hedge funds this year.
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New York-based Coatue Management has been one of the best-performing big hedge funds in 2020, scoring a gain of 52% through November.
Coatue made its notable gain by betting on Elon Musk’s fast-rising automaker Tesla and against scandal-plagued German payments processor Wirecard, according to the Financial Times.
The tech-focused fund makes long-short investment strategies, meaning that it buys equities that