It has been an absolutely horrible year for IPO performance

Initial public offering performance has been horrible in 2015.

The majority of the big offerings this year are now trading lower than their IPO price.

That means that investors who bought into these deals in the hope of a rising share price are instead sitting on losses.

That’s not something investors want to see. If the deals aren’t working for them, they could hesitate to invest in IPOs in the future.

Dealogic compiled data on the top 10 IPOs of the year as of Tuesday’s close, and looked at the performance of each one to date. They found that 7 of the top 10 IPOs were trading lower than their offer price.

Those companies include Tallgrass Energy, Columbia Pipeline Partners, Ferrari, Univar, Blue Buffalo Pet Products, EQT Group, and Inovalon. They span the tech, energy, auto, chemicals, and food and beverage sectors.

Most drastically, energy asset company Tallgrass Energy was trading 48.4% below its offer price of $29. Tallgrass was the second-most valuable IPO of the year.

Payment technology company First Data closed Tuesday at its $16.00 offer price.

Interestingly, many of these deals enjoyed a strong first day of trading, with only one of the deals closing down on the first day.

Here’s a look at the data:

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