Well-known hedge fund managers Lee Ainslie and Steve Mandel's hedge funds have fallen about 1/3 so far this year, in the same boat as other "Tiger Cubs" hit by sharp falls in technology stocks.

These "little tigers" started under the leadership of Julian Robertson, legendary fund manager and founder of Tiger Management, and then founded their own hedge fund companies, and eventually became world-famous hedge fund managers. It has been a spectacular bull market in US technology stocks for more than a decade.

The "little tigers" who love technology stocks have suffered heavy losses.

However, as US inflation remains high, the Fed's interest rate hike cycle begins, market risk appetite falls sharply, technology stocks bear the brunt of a massive sell-off, and then the US stock market is mired in a correction zone. This year is a start for tech-loving tigers. The Nasdaq 100, the benchmark technology index, has fallen more than 24% so far this year, while the S & P 500 is down more than 15% so far this year.

Maverick Capital, Ainslie's main hedge fund, fell 32.5% in the year to may, according to people familiar with the matter, according to Zitong financial APP. The company's biggest investments in the first quarter included the purchase of South Korean e-commerce giant Coupang (CPNG.US) and US e-commerce giant Amazon.Com Inc (AMZN.US). Analysts said that if the hedge fund had continued to hold the two stocks last month, both investments would have been one of the targets for stocks with larger losses.

Lone Pine, Mandel's hedge fund, fell about 30 per cent during that period. The company's two stocks held in the first quarter, Workday (WDAY.US) and Shopify Inc (SHOP.US), were among the worst declines in the portfolio, falling 43 per cent and a staggering 73 per cent respectively as of May 31. However, the 66-year-old Mandel retired from the management of hedge fund companies in 2019, but he remains involved in investment research and serves on the management committee.

With US tech stocks plummeting this year and billions of dollars of investor capital evaporated from these hedge funds, this year can be described as a "technology stock disaster" for the star fund managers nurtured by Julian Robertson, the founder of Tiger Management.

The most beautiful tiger fell the hardest around the world.

Chase Coleman (Chase Coleman) is arguably one of Robertson's most successful students, but the investment performance of Tiger Global Management (Tiger Global Management), the world-famous hedge fund he founded, has plummeted 52 per cent so far this year, ranking first among the "little tigers". The loss also means that Tiger Global Fund's 48 per cent investment gains in 2020 have been completely erased.

It is reported that Tiger Global, which hit hard on technology stocks, suffered a huge loss of about $17 billion in this year's technology stock sell-off as of April, one of the biggest losses in the hedge fund's history.

Viking Global Investors, founded by Andreas Halvorsen, another favourite student of Julian Robertson, managed to avoid the tech holocaust by optimizing its portfolio, and his hedge fund's investment returns fell only about 9 per cent in the year to May, far better than other "little tigers".