Summary List PlacementBillionaire Philippe Laffont's Coatue Management is underperforming for the year so far despite a solid June. The $48 billion manager posted returns of 4.2% in June, boosting its performance for the first half of 2021 to 5.8%, sources familiar with the Tiger Cub tell Insider. The firm declined to comment. The figures trail the S&P 500, which was up more than 14% through the first half of the year. The average hedge fund, according to Hedge Fund Research, was up nearly 10% through the end of the May. The research firm has not yet released its mid-year averages.