Customers shop at a GameStop store.
Photographer: Patrick T. Fallon / Bloomberg
Photographer: Patrick T. Fallon / Bloomberg
Maplelane Capital, a $ 3.5 billion hedge fund, lost about 33% this month through Tuesday, in part due to a short position in GameStop Corp., according to investors.
One person said the firm significantly modified its portfolio in recent weeks and adjusted the risk, asking that it not be identified because the information is not public. These changes helped protect themselves from additional losses and the company has no liquidity or margin issues.
The New York-based company, led by Leon Shaulov and Rob Crespi, declined to comment.
At the end of the third quarter, Maplelane introduced or bet on the fall in shares in several companies, including American Airlines Group Inc., GameStop, IRobot Corp i National Beverage Corp., according to its latest regulations presentation. The company was founded in 2010.
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Melvin Capital, the $ 12.5 billion hedge fund managed by Gabe Plotkin, fell more than 30% so far this month on similar short bets. Amid the anguish, hedge fund titans Ken Griffin and Steve Cohen injected a total of $ 2.752 billion into the company. It has also recently modified its portfolio.