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

By GmbH

Wall Street NYSE Bull
A man sits on the Wall street bull near the New York Stock Exchange (NYSE) on November 24, 2020 in New York City.

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


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%

Read More: Buy these 4 stocks poised benefit from a spike in silver prices, says RBC Capital Markets - including 2 set to soar 73%


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

Read the original article on Business Insider