These are the 10 stocks Melvin Capital is betting will help it recoup losses from the GameStop short squeeze that cost it billions
- Gabe Plotkin's Melvin Capital is still clawing back from the billions in losses it experienced earlier this year from the GameStop short squeeze.
- The hedge fund has initiated a number of new stock positions in the second quarter, according to its 13F filing.
- These are 10 of the biggest new stock positions Melvin Capital purchased in the second quarter.
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Melvin Capital is making moves as it continues to attempt to claw back the billions in losses it experienced during GameStop's short squeeze earlier this year.
The $17 billion hedge fund, founded by Gabe Plotkin in 2014, experienced a 53% loss in January and ended the first half down 46%, according to Bloomberg. According to Melvin's second-quarter 13f filing data compiled by WhaleWisdom, the hedge fund bought 36 new stocks in the quarter.
Melvin Capital's biggest bet remains Expedia, which represents 8% of the fund, followed by Amazon, Visa, and LabCorp. The hedge fund is likely expecting a strong economic reopening as the COVID-19 pandemic subsides.
Plotkin is also taking on new bets to help bolster performance. According to Melvin's second-quarter 13f filing data compiled by WhaleWisdom, the hedge fund bought 36 new stocks in the quarter.
These are 10 of the biggest new stock positions Melvin Capital initiated in the second quarter.
10. Amazon Call Options
Ticker: AMZN
Position Value: $172.0 million
Percent of fund: 0.99%
9. Target
Ticker: TGT
Position Value: $175.2 million
Percent of Fund: 1.01%
8. Align Technology Call Options
Ticker: ALGN
Position Value: $213.9 million
Percent of Fund: 1.23%
7. Laboratory Corp Call Options
Ticker: LH
Position Value: $220.7 million
Percent of Fund: 1.27%
6. Microsoft
Ticker: MSFT
Position Value: $243.8 million
Percent of Fund: 1.40%
5. Dominos Pizza
Ticker: DPZ
Position Value: $244.9 million
Percent of Fund: 1.41%
4. PayPal
Ticker: PYPL
Position Value: $291.5 million
Percent of Fund: 1.67%
3. DoorDash
Ticker: DASH
Position Value: $329.9 million
Percent of Fund: 1.90%
2. Expedia Call Options
Ticker: EXPE
Position Value: $376.5 million
Percent of Fund: 2.16%
1. JD.com Stock and Call Options
Ticker: JD
Combined Position Value: $578.6 million
Combined Percent of Fund: 3.33%
