Author：Bloomberg

Some of the hedge fund industry’s most prolific stock-pickers incurred big losses in March as the US and Israeli war against Iran roiled markets.

Tiger Global Management’s main hedge fund tumbled 7.3% last month, while Maverick Capital’s dropped 5% and Viking Global Investors’ lost 4.1%, according to people with knowledge of the matter, who asked not to be identified discussing confidential details. Coatue Management declined 4.8% in March, Bloomberg reported previously.

Maverick’s other vehicle, the Long Enhanced fund — which uses leverage to turbocharge bullish bets — declined 8.1%.

The hedge funds are known as Tiger Cubs because their founders previously worked for legendary investor Julian Robertson at Tiger Management. Representatives for all of the firms declined to comment.

The war and Iran’s stranglehold on the Strait of Hormuz, a chokepoint for roughly 20% of the world’s oil, has upended markets. The S&P 500 and tech-heavy Nasdaq 100 both tumbled about 5% in March. Bloomberg’s Global Aggregate bond index posted its worst month in more than a year, sliding 3.1%, as traders scrapped wagers on Federal Reserve interest-rate cuts amid fears of higher inflation.

Read More: Hedge Funds Walloped by a Month of Turmoil Sparked by War