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The once high-flying Tiger Seed is down by double digits this year.
It's dog days for Jonathan Auerbach's Hound Partners.
While several funds with roots in Julian Robertson Jr.'s Tiger Management have been battling back from earlier-year losses, Hound, the New York hedge fund firm headed by Auerbach, continues to dig a deeper hole.
The once high-flying Tiger Seed (so-called because the firm received an early investment from Robertson) tumbled 1.3 percent in May. As a result, it is off by 12.5 percent for the year. It has lost money in four of the first five months of 2016 and nine of the past 12 months.
Last year Hound posted its first loss in its long-short fund since 2008, dropping 1.3 percent -- only the fund's second full-year loss since its...