Dan Sundheim’s $ 20 billion D1 capital loses around 20% this month



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Dan Sundheim’s D1 Capital Partners, one of last year’s best-performing hedge funds, lost around 20% this month to Wednesday, making it one of the biggest casualties yet to emerge as retail investors target the preferred positions of hedge funds.

The fund was managing around $ 20 billion at the start of this year – far more than competitors such as Melvin Capital and Maplelane Capital, who also hit their portfolios amid the attacks. The loss of D1, described by people familiar with the situation, contrasts with a 60% gain during last year’s pandemic crisis.

A growing number of hedge funds, including Steve Cohen’s Point72 Asset Management, recorded rapid damage to holdings amid wild market swings this month. Cohen’s $ 19 billion business is down about 10% to 15% year-to-date, according to people familiar with the matter. He was among Melvin’s investors and invested an additional $ 750 million in the company after traders targeted his short positions.

Read more: Cohen’s Point72 loses 10-15% amid monthly hedge fund carnage

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