STOCKS | Jericho Capital Asset Management’s Flagship Hedge Fund Plunges 17% in October, Turns Negative for Year

Jericho Capital Asset Management’s flagship hedge fund plunged 17% in October, placing it among the industry’s worst performers. According to Sina Finance, citing people familiar with the matter, the decline erased all of the fund’s gains for the year and brought its year-to-date return to about -2%. Regulatory filings showed that, as of the end of June, Jericho held 29 stocks, with nearly half its exposure in technology stocks, followed by communications stocks. Its two largest holdings were application delivery company Fa5 Inc. and mobile advertising technology company AppLovin Corp.; shares of both companies fell more than 20% in October.