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Tiger Cubs Report a Rough Q1

Market advances wreak havoc on hedge fund managers’ short portfolio holdings in the first quarter.

The first quarter was especially tough for long-short hedge fund managers — and the biggest, most prominent Tiger Cubs were not immune. According to previously unpublished data obtained by Institutional Investor’s Alpha , the period was especially rough on short portfolios, given the S&P 500’s 10 percent jump during the three-month

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