CoreWeave and Circle Internet Group held blockbuster initial public offerings earlier this year.

CoreWeave ( CRWV -4.99% ) and Circle Internet Group ( CRCL 1.94% ) held initial public offerings (IPOs) earlier this year and both stocks have already posted monster returns. CoreWeave shares have tripled since March, and Circle shares have quadrupled since June.

A few hedge fund managers bought one of the stocks in the second quarter. The ones below, all billionaires, are particularly noteworthy because they outperformed the S&P 500 (SNPINDEX: ^GSPC) over the last three years, which makes their portfolios a good place to look for investment ideas.

Philippe Laffont of Coatue Management purchased 3.3 million shares of CoreWeave, now the largest position at 8% of his portf

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