Tech Was a Tailwind in 2020, but Finally StungKerrisdale in March

Big positions in Twitter and Sea Limited hurt the hedge fund during the tech drawdown.

Twitter is Kerrisdale Capital's biggest position. (David Paul Morris/Bloomberg)

Twitter is Kerrisdale Capital’s biggest position.

(David Paul Morris/Bloomberg)

Kerrisdale Capital’s love affair with technology stocks stung it in March, as the hedge fund founded by Sahm Adrangi fell 6 percent.

The fund was down 4.33 percent for the first quarter, according to a private database.

Kerrisdale, a long-short equity fund better known for its activist shorts, had piled into tech stocks, which was a winning strategy last year.

To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.

Related