In 2020, many tech-heavy hedge funds, including Light Street Capital Management, posted record years. However, 2020 was the last time stock hedge funds saw record numbers.
Light Street, Whale Rock Capital Management, Tiger Global Management, and Perceptive Advisors are among the once-popular stock hedge funds reeling from another year of losses. Each of the funds reported a 40% decline during the last two years, according to AdvisorHub.
For example, Tiger Global hedge fund declined 57% over the past two years, erasing all of the gains it had made since the end of 2018. Whale Rock likewise saw a 47% decrease over the last two years. The fund now manages only $6 billion, down from the $12 billion it managed last year. Finally, Light Street suffered the most significant decline. The firm, which previously managed about $2 billion at the end of 2021, has lost nearly two-thirds of its value over two years.
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