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Hedge funds begun 2021 in the spotlight after a trading frenzy in GameStop resulted in extreme losses for Melvin Capital.
These are amongst the winning and losing hedge funds in the month of January, according to Bloomberg.
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Hedge funds have been tossed into the spotlight this month after a Reddit online forum called WallStreetBets stimulated an enormous short-squeeze rally in shares of GameStop and AMC Entertainment.
The move in GameStop upended hedge funds that were brief shares of the video-game retailer. The short trade showed to be a popular bet offered the high brief position in the stock at the start of the year.
Melvin Capital was one hedge fund that suffered extreme losses coming from a brief bet on GameStop, with the fund losing 53%in the month of January. Melvin ultimately got a $2.8 billion emergency financial investment from hedge fund billionaires Steve Cohen of Point72 and Ken Griffin of Castle..
Maplelane Capital, another hedge fund that was brief shares of GameStop, fell 45%through January27
Here are the winning and losing hedge funds amidst the GameStop mania in the month of January, according to Bloomberg.
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1. Glenview Capital Management.
January Gain: 6.4%AUM: $3.5 billion.
2. Falcon Edge Capital.
January Gain: 4.2%AUM: $4 billion.
3. Heard Capital.
January Gain: 3.2%AUM: $325 million.
January Gain: 1.2%AUM: $133 billion.
January Gain: 1.2%AUM: $3 billion.
6. Schonfeld Strategic Advisors.
January Gain: 0.9%.
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January Loss: 3%.
2. Greenlight Capital.
January Loss: 11.1%.
3. Honeycomb Asset Management.
January Loss: 4%AUM: $1.2 billion.
4. Renaissance Quant Fund.
January Loss: 9.5%.
5. Maplelane Capital.
January Loss (through January 27): 45%.
6. Melvin Capital.
January Loss: 53%.
Learn more: A chief investment strategist breaks down how the GameStop saga could upend long-standing practices on Wall Street – and shares her 4-part suggestions for navigating the crazy trading environmentJoin the discussion about this story” NOW SEE: How waste is dealt with on the world’s biggest cruise ship