Viking Global Investors is down 7% for the first six months of 2022 but has still outperformed many of its Tiger Cub stock-picking peers, according to report by BNN Bloomberg.

The report cites an investor letter as revealing that the fund's recent efforts to reduce risk, by concentrating long bets while maintaining its short positions helped it chalk up a 2% gain last month, reducing its YTD loss to 7.4%.

While Andreas Halvorsen’s $19 billion flagship fund is still on course to record its worst annual loss in 22 years, its performance is ahead of other Tiger Cub funds, some of which are down over 30% so far this year.