Whale Rock Capital Management's main hedge fund returned 72.5% in 2026, positioning the $19 billion, tech-focused investment firm among the year's top-performing allocators. June produced further momentum, with gains that contributed to a substantially higher year-to-date figure.
According to a person familiar with the matter, the hedge fund climbed 9.2% in June. The firm's long-only vehicle also performed strongly, advancing 9.4% last month and driving its own year-to-date return to 82%.
Drivers of the rally
The firm's performance was powered by concentrated positions in several semiconductor and hardware companies, the source said. Holdings in Sandisk Corp., SK Hynix Inc., and circuit-board manufacturer TTM Technologies Inc. were singled out as meaningful contributors to returns. Over the first half of the year, Sandisk surged by more than 850%, SK Hynix increased by over 300%, and TTM climbed roughly 170%.
Beyond hardware, Whale Rock also benefited from a stake in AI firm Anthropic PBC. In its most recent funding round Anthropic reached a $965 billion valuation, the source said, marking a first in surpassing rival OpenAI on that metric.
Market context
Tech-focused hedge funds broadly have experienced a strong start to the year, a trend the source attributed to a rally in AI-related stocks. Whale Rock’s concentrated technology bets illustrate how sector-specific moves can produce outsized returns for managers with focused exposures.
Key figures and outcomes
- Flagship hedge fund gain in 2026: 72.5%
- Firm assets under management: $19 billion
- Hedge fund gain in June: 9.2% (per a person familiar with the matter)
- Long-only fund gain in the most recent month: 9.4%, lifting its year-to-date returns to 82%
- Notable security moves in H1: Sandisk +850%+, SK Hynix +300%+, TTM +170%+
- Anthropic valuation in latest round: $965 billion