Light Street Capital Management’s hedge fund racked up one of the industry's biggest declines in 2022, falling 54% over the year, just shy of Tiger Global Management's 56% decline, according to a report by Bloomberg.

Light Street Capital Management’s hedge fund racked up one of the industry's biggest declines in 2022, falling 54% over the year, just shy of Tiger Global Management's 56% decline, according to a report by Bloomberg.

Light Street's fall put it ahead of other big-name hedge fund losers in 2022 including Whale Rock Capital Management and Lone Pine Capital, who lost 45% and 36% respectively.

All four firms suffered due to failed bets in tech stocks with Light Street’s six largest equity holdings as of 30 September all falling by more than 41% last year.