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.
The company has significantly changed its portfolio in recent weeks, adjusting the risk, said one of the people, asking not to be identified because the information is not public. These changes have helped protect against subsequent losses, and the company has no liquidity or margin issues.
The New York company, led by Leon Shaulov and Rob Crespi, declined to comment.
Maplelane put – or bet on declining shares – several companies at the end of the third quarter, including American Airlines Group Inc., GameStop, IRobot Corp. and National Beverage Corp., according to the latest regulation deposit. The company was founded in 2010.
Read more: Reddit Crowd Bludgeons Melvin Capital in Industry Warning
Melvin Capital, Gabe Plotkin’s $ 12.5 billion hedge fund, has fallen more than 30 percent this month on similar short bets. Amid the danger, hedge fund titans Ken Griffin and Steve Cohen injected a total of $ 2.75 billion into the company. It has also recently changed its portfolio.