Hedge Funds Post Best First Half Since 2021, Led by AI and Tech Bets
- Hedge funds returned an average 7.2% in H1 2026 — their strongest six-month stretch since 2021 — according to PivotalPath data reported by Bloomberg.
- Performance was concentrated in tech and semiconductor longs; Whale Rock Capital is up 72.5% YTD and Appaloosa up 32%, underscoring how concentrated AI-themed exposure drove aggregate returns.
- The data point comes even as a brutal March selloff rattled the industry, and a handful of quant-style funds have been blamed for exacerbating volatility around AI names.