A pack of stock-picking firms known as Tiger Cubs — the hedge funds run by proteges of Tiger Management founder Julian Robertson — were among the industry’s best performers in the first half of the year, capped by solid gains in June.
It was a tumultuous start to 2025 for markets, which have been whipsawed by geopolitical uncertainty, including President Donald Trump’s tariffs and war in Ukraine and the Middle East. The S&P 500 plunged 19% from Feb. 19 through April 8, before rebounding to end June at a record high.
With increased market volatility, the PivotalPath Equity Sector TMT Index has also been buffeted by more turbulence, said Jon Caplis, head of hedge fund research firm PivotalPath.