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Tiger Cubs Among Equity Hedge Funds Crushed by 2022 Tech Wipeout

  • Coatue tumbled 15% so far this year and Viking Global fell 9%
  • Einhorn’s Greenlight, other value-oriented funds have gained
Chase Coleman
Chase ColemanPhotographer: Amanda L. Gordon/Bloomberg

The biggest stock hedge funds are delivering some of the worst returns in years with the collapse of technology shares -- a sector that created riches over the past decade.

Clients are voicing frustration over the managers’ recent losses, and the funds’ failure to generate enough short-selling gains on market declines driven by inflation, rising rates and the war in Ukraine. Some firms have even underperformed the tech-heavy Nasdaq 100, which cratered 21% this year through April.