These were among the biggest hedge-fund winners and losers in January as GameStop mania upended markets

February 3, 2021

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Hedge funds started 2021 in the spotlight after a trading frenzy in GameStop led to severe losses for Melvin Capital.
These are among the winning and losing hedge funds in the month of January, according to Bloomberg.
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Hedge funds have been thrown into the spotlight this month after a Reddit forum called WallStreetBets sparked a massive short-squeeze rally in shares of GameStop and AMC Entertainment.

The move in GameStop upended hedge funds that were short shares of the video-game retailer. The short trade proved to be a popular bet given the high short position in the stock at the start of the year.

Melvin Capital was one hedge fund that suffered extreme losses stemming from a short bet on GameStop, with the fund losing 53% in the month of January. Melvin ultimately received a $2.8 billion emergency investment from hedge fund billionaires Steve Cohen of Point72 and Ken Griffin of Citadel.

Maplelane Capital, another hedge fund that was short shares of GameStop, fell 45% through January 27.

Here are the winning and losing hedge funds amid the GameStop mania in the month of January, according to Bloomberg.

Read More: Jefferies says to buy these 24 stocks that represent its analysts’ highest-conviction picks for 2021

Winners

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

4. ExodusPoint

January Gain: 1.2%
AUM: $13.3 billion

5. Verition

January Gain: 1.2%
AUM: $3 billion

6. Schonfeld Strategic Advisors

January Gain: 0.9%

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Losers

1. Citadel

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%

Read More: A chief investment strategist breaks down how the GameStop saga could upend long-standing practices on Wall Street – and shares her 4-part advice for navigating the frenzied trading environment

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