Investors pummeled by tech in 2022 make new bets on sector in second quarter

NEW YORK: Several investment managers whose performance was pummeled when technology stocks skidded lower last year put fresh money into the handful of companies that are pulling the stock market higher this year, new regulatory filings show.

Glen Kacher’s Light Street Capital, one of a handful of hedge funds that posted double-digit losses last year, reported a new position in retailer Amazon.com in the second quarter and said it boosted its stake in technology company Meta Platforms by 27%, according to a new regulatory filing.