Photographer: Alex Flynn / Bloomberg
Photographer: Alex Flynn / Bloomberg
Melvin Capital Management, the once-high-flying hedge fund that lost billions of dollars after its clumsy input was caught in a Reddit-fueled rally, pushed its decline to 49% in the first quarter.
According to people with knowledge of the matter, the fund decreased by 7% last month, which reversed a profit of almost 22% the previous month. In January, the fund fell by 53%.
The firm, founded by Gabe Plotkin, was among many who suffered huge losses after retailers teamed up to include shares GameStop Corp. to new heights. Plotkin, who was short of the company, then took a $ 2.75 billion investment from Citadel. Point72 Asset Management and others in January.
A spokesman for the firm declined to comment.
Read more: Melvin Capital drifts away from GameStop Fiasco with 22% profit
Another firm caught in the crosshairs of the GameStop saga, Maplelane Capital, which lost 45% in January, is starting to recover.
According to people familiar with the matter, the fund rose 6.5% in February and 2.1% in March, ending the first quarter with a loss of 39.5%. One of the people said that the fund has benefited from its long and short inputs on technology and consumer-oriented businesses.
One of the people has been earning money from Maplelane for 14 of the last 15 months.
The $ 3 billion New York-based company, led by Leon Shaulov and Rob Crespi, declined to comment.
Overall, the hedge fund industry struggled to make money last month amid volatility in the stock market. The average fund was around flat in March and, according to Hedge Fund Research Inc. increased by 2.2% in the first quarter. The S&P 500 index rose 4.2% in March and 6.2% for the quarter, with dividends reinvested.
Lone Pine Capital, Tiger Global Management and Whale Rock Capital Management, which often focuses on technology betting, delivered gloomy March returns.
Meanwhile, it Glenview Capital, which ended a 9.5% increase in 2020 despite heavy losses earlier in the year, rose 25% in its flagship fund until March 25 thanks to successful inputs to healthcare stocks, including DXC Technology Co., Cigna Corp., AmerisourceBergen Corp en McKesson Corp.
Here’s how other hedge funds, according to celebrities, performed in March and in the first quarter. Representatives of the firms declined to comment.
| Fund | Strategy | March | V1 |
|---|---|---|---|
| Glenview Offshore | Fairness | 7.8% | 25.4% |
| Hudson Bay International | Fairness | -0.2 | 9 |
| Citadel | Multistrategy | 0.3 | 6 |
| DE Shaw Compound | Multistrategy | 1.4 | 5 |
| Sculptor Master | Multistrategy | -0.2 | 3.5 |
| Millennium | Multistrategy | 0.2 | 3 |
| Balyasny Atlas improves | Multistrategy | -0.4 | 1.8 |
| DE Shaw Oculus | Multistrategy | 1 | 1.5 |
| Exodus point | Multistrategy | 0.3 | 1 |
| Tiger Global | Fairness | -5.3 | 0.8 |
| Renaissance RIDA | Fairness | 5 | -1 |
| Renaissance RIDGE | Fairness | 3.6 | -3.4 |
| Renaissance RIEF | Fairness | 3.7 | -4.7 |
| Lone Pine | Fairness | -7 | -10 |
| Walvisrots | Fairness | -6 | -14 |
| Maplelane Capital | Fairness | 2.1 | -39.5 |
| Melvin Capital | Fairness | -7 | -49 |
(Add the return card at the bottom of the story.)