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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