2022's Worst Performing Hedge Fund Saw Negative 56% Returns, Has These Stocks To Blame

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Last year was one of the worst years for equities, with all three major indexes having their worst year since 2008, cutting a three-year winning streak.

The Dow experienced the smallest loss of the indexes in 2022, falling approximately 8.8%. The S&P 500 dropped by 19.4%, recovering slightly to start the new year, while the tech-heavy Nasdaq plummeted 33.1%.

These losses were compounded for some of the largest hedge funds, whose strategy in 2022 was based on trading equities.

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Who is the biggest loser? A firm focused on companies in the global internet, software, consumer, and financial technology industries — Tiger Global Management took the biggest hit.

Tiger Global, according to a Bloomberg report, lost 56% in the bear market of 2022.

What stocks were in Tiger Global’s portfolio?

By weight, here are the top 10 holdings in its latest 13F-HR filed on Nov. 14, 2022:

Company

Ticker

% of Portfolio

2022 Performance

JD.com, Inc

JD

14%

-18.24%

Microsoft Corporation

MSFT

13%

-25.74%

ServiceNow Inc

NOW

5.9%

-32.49%

Sea Ltd

SE

4.9%

-71.81%

Alphabet Inc Class C

GOOG

4.8%

-34.65%

Datadog Inc

DDOG

4.7%

-53.61%

Workday Inc

WDAY

4.4%

-36.03%

Snowflake Inc

SNOW

4.1%

-53.57%

Li Auto Inc

LI

3.6%

-25.24%

Atlassian Corp

TEAM

3.3%

-59.86%

Honorable mentions in Tiger Global’s portfolio that didn’t make its top 10 holdings by weight: 

Company

Ticker

% of Portfolio

2022 Performance

Kanzhun Ltd

BZ

2.8%

-43.95%

Amazon.com, Inc

AMZN

2.8%

-49.16%

Uber Technologies

UBER

2.4%

-43.31%

Nu Holdings Ltd

NU

1.9%

-54.89%

Block Inc

SQ

1.9%

-57.66%

Mastercard Inc

MA

1.9%

-5.33%

DoorDash Inc

DASH

1.7%

-65.29%

Toast Inc

TOST

1.5%

-35.44%

HubSpot Inc

HUBS

1.7%

-45.51%

Crowdstrike Holdings

CRWD

1.4%

-46.31%

According to Bloomberg, among the other hedge funds that experienced negative returns in 2022 were D1 Capital Partners (-30.5%), Viking Global Opportunities (-23.2%), and Coatue Management (-18.8%).

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Photo: courtesy of Shutterstock.