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Melvin Capital lost 53% last month because of the hedge fund's massive short position in GameStop. Melvin Carter Jr. is a force in his own right, a son of a son of St. Paul, Navy sailor, boxer, musician and for decades, a well-known St. Paul cop. It may very well have saved GameStop from a short-induced death spiral. Hedge fund Melvin Capital weighs unwinding current fund to start - CNBC "[33], In May 2022, Bloomberg News reported that Melvin Capital planned to close its funds and return the cash to its investors by June 30. Melvin, which was down 21% in the first quarter, said he wouldn't try and make investors whole. Federal prosecutors alleged that he was the recipient of illegal insider information. L Brands also owns a stake in Victorias Secret. Melvin's CEO is trying to use the racist card in order to appeal to a more mainstream audience. Its holdings include more than 405,000 shares of Amazon (worth nearly $1.3 billion on Monday), and about 20 million shares in Bath & Body Works owner L Brands (worth $600 million), according to Yahoo Finance. [16] Notable investments included Chewy.com, Amazon.com, Las Vegas Sands, Alibaba, and shorting GameStop. But this tech giant's wife, Melinda Gates, is equally as impressive. Leaving his massive loss behind, lets take a closer look at his lovely wife in her top facts below. as well as other partner offers and accept our. [28] During the height of the squeeze, Melvin was reportedly losing more than a billion dollars a day. Originally built in 1935, the house, which sits on a 24,407-square-foot lot, was advertised as a teardown. They're going to be standing around holding the bag for everyone. Melvin still struggling to recover after a massive short squeeze on meme stock GameStop crushed his fund in January 2021 lost another 3.3% in April, taking the fund's year to date drop . [17], According to The Wall Street Journal, about one-third of the gains in 2019 from Steve Cohen's current hedge fund, Point72, came from Melvin Capital Management LP.[18]. In September 2020 the name of company showed up in the Polish Short Sale Registry (Rejestr Krtkiej Sprzeday) because of a short position in game developers CD Projekt, a net position of 0.55 percent through the Polish stock exchange (GPW). Gabe Plotkin, the founder of short-seller Melvin Capital, took home $846 million in 2020, netting him a spot among the top hedge fund earners last year, according to Bloomberg . This was a serious crime. Hedge fund Melvin Capital lost 49% on its investments in Q1 - Nasdaq Updated: 29 Jan 2022, 08:12 PM IST The Wall Street Journal. Hayes says he's keeping an eye on risk parity funds in particular for potentially rockier waters, while Cronk suggests there may be more pain ahead in the broader market (he says he's watching .