Melvin Capital serves as the management company with discretionary trading authority to private pooled investment vehicles, and separately managed accounts. Celebrity Net Worth reports Plotkin’s net worth is $400 million, suggesting a change in fortune for a man who enjoyed $850 million in earnings last year. MELVIN CAPITAL MANAGEMENT LP - Short Position History View Filer Details Current Active Short Positions. The current Mark Zuckerberg net worth in 2021 is $96.4 billion according to Forbes.His wealth is tied to the performance of Facebook stock as he continues to own 14% of the company he founded (400,468,705 shares) valued at $66,798,179,994 based on the public update in February 2020.. Zuckerberg had a long and interesting journey to becoming the fifth richest person in the world at the … Plotkin also worked at “North Sound Capital.” However, he decided to open Melvin Capital when SAC Capital was in the dissolution stage after insider trading. During the testimony, Plotkin explained that Melvin Capital shorted GameStop stock because the firm did and still does believe that the retail chain’s business model is being “overtaken” by video game downloads. On forbes lists #20. Indeed, ‘smart money’ may have a lower IQ than we thought. The fund, founded by Gabe Plotkin in 2014, began the year with $12.5 billion in assets but lost 53% in January as retail traders ganged up on hedge funds. In fact, Melvin was so aggressively short that they had actually borrowed money to get even more short than humanly possible. Positions held by Melvin Capital Management consolidated in one spreadsheet with up to 7 years of data . Plotkin mostly trades consumer stocks and in 2017 Melvin Capital posted returns of 41% net of fees. Melvin Capital accepted defeated yesterday, with boss Plotkin admitting to CNBC that the fund had closed its position in GameStop on Tuesday, suffering huge losses.Reports suggest that Melvin Capital required a huge bailout to stay afloat. Melvin Capital launched in 2014. On top of that, he holds shares in Amazon of an undisclosed amount and about $20 million in Bath and Body Works. Tip: Access up to 7 years of quarterly data. “The posts said things like, ’It’s very clear we need a second Holocaust. Melvin said on Monday it would receive a $2.75 billion investment from Citadel, the Chicago-based hedge fund led by Ken Griffin, and billionaire investor Steven … He also told the committee that he named Melvin Capital after his grandfather, the owner of a convenience store. u/rentisdueonthe1st. © Copyright 2021 Market Realist. Melvin Capital Management has $23B in assets under management (AUM), dropping by 12.91%. The CIO of Melvin Capital, Gabriel Plotkin, is married to a New York-raised woman named Yaara Bank-Plotkin. 1991 +39.4%. The Moutsanas family left after the end of World War II and emigrated to the United States in 1945, changing the family name to Marcus. 2017 was also a fantastic one for Melvin Capital Management, as it generated an impressive return of 41% net of fees. But, it took another six days (after the stock had gained another 250%) for the hedge fund to finally relinquish its mammoth position.” February 21, 2021. Melvin Capital is also exiting GameStop, with manager Gabe Plotkin telling CNBC that the hedge fund was taking a significant loss. Bezos is not leaving Amazon. All Rights Reserved. At the end of June of this year, the fund’s 13F portfolio was valued at $11.06 billion. Melvin Capital is largely admirable for its relative returns. In 2015 Melvin Capital Management generated a remarkable return of 47%, placing it among Bloomberg News’ top-performing hedge funds with $1 billion in assets under management. Melvin had returned 47 percent through November, according to a hedge fund industry professional. Current Cathie Wood Portfolio 2021: Ark Invest Holdings. The mission of Children of Fallen Patriots Foundation... LONDON (Reuters) - American hedge fund firm Glenview Capital Partners lost 7.1% in February, bring year to date losses to 13.7%, showed data compiled by HSBC and seen by Reuters. Current Bill Ackman Net Worth 2021. Its clients are generally institutions, pension plans, high net worth individuals, and other sophisticated investors. Prior to founding Melvin Capital Management, Mr. Plotkin worked as an equities... All text and design is copyright ©2021 Koala Guide LLC. During the GameStop short squeeze of 2021, they sustained losses of 53%. But, it took another six days (after the stock had gained another 250%) for the hedge fund to finally relinquish its mammoth position.” In the hedging end of the financial industry, fortunes are made and lost with frequency. However, members of the Reddit group WallStreetBets put the “short squeeze” on hedge funds, which saw them squander more than $5 billion. The two firms are investing a combined $2.75 billion in Melvin Capital, as The Wall Street Journal reported in January. Buy PSTH SPAC Stock Now Before Ackman Finds a Merger Target, Mark Cuban's Advice for Retail Investors as GameStop Stock Plunges, Why You Shouldn’t Take Warren Buffett’s Advice on Gold. He earned his Bachelor of Arts in Economics from Northwestern University. Indeed, ‘smart money’ may have a lower IQ than we thought. In fact, Bloomberg reports that Plotkin went from making about $850 million in 2020—and ranking among the top 15 hedge fund managers —to losing an estimated $460 million … However, members of the Reddit group WallStreetBets put the “short squeeze” on hedge funds, which saw them squander more than $5 billion. Quick Facts: Gabriel Plotkin Net Worth 2021: Is He Jewish? And he told the committee that when Reddit users targeted Melvin’s short positions, some shared offensive posts. Melvin started his company Melvin Capital with seed money of $900 million and now he is managing about 20 billion dollars. Their last reported 13F filing for Q4 2020 included $22,639,690,000 in managed 13F securities and a top 10 holdings concentration of 41.8%. Of course, averages can be skewed by extremes on both ends of the net … It invests primarily in tech and consumer stocks and is reported to have $8 billion in assets under management as of January 2021. No wonder he told a congressional committee the experience “humbled” him. Melvin Capital Management is based out of New York. Insiders are officers, directors, or significant investors in a company. 1989 -4%. During its relatively short existence, the fund, which focuses on the Consumer Discretionary sector, has seen some amazing returns. Offers may be subject to change without notice. Not only did Gabriel Plotkin receive the blessing of his former boss, billionaire Steve Cohen, but also a $200 million seed capital to help launch Melvin Capital. At the end of January Melvin received commitments of $2.75 billion in fresh cash from investors, signaling their confidence in Plotkin’s abilities. “It is now our job to earn it back,” he said. Yeung pointed out that in fact, “Melvin Capital…lost 30% of its net worth in the first three weeks of January. Most recent portfolio value is … Melvin Capital Management LP is listed as an insider in the following companies: CVNA / Carvana Co. But The Real Deal reports that Plotkin is forging ahead on the renovation of the two Miami Beach, Fla., properties that he bought in 2020 for $44 million, with his attorney going before the Miami Beach Design Review Board to discuss the Melvin Capital founder’s plans to demolish one of the two properties to make room for a 1,316-square-foot cabana, a playground, and amenity courts. ... Current Melvin Capital Holdings 2021. “No, I think... Ken Griffin’s Citadel has once again found itself at the center of a WallStreetBets drama, this time over the firm’s holdings of silver. 1992 +33.6%. $400 Million Gabe Plotkin Net Worth: Gabriel "Gabe" Plotkin is an American hedge fund manager who has a net worth of $400 million. Plotkin discussed the GameStop drama before the U.S. House of Representatives’ Committee of Finance Services on Thursday, Feb. 18. In this article, we discussed Melvin Capital Management’s short bets that resulted in big losses along with its top 10 stock holdings. CNBC - The average American has $90,460 of debt, but the average net worth is $748,800. It is illegal for insiders to make trades in their companies based on specific, non-public information. The Highest-Earning Hedge Fund Managers 2018 Dropped off in 2019. In other words, Melvin Capital was betting the farm that Gamestop stock prices would go down in the near future. Melvin Capital Management LP is listed as an insider in the following companies: CVNA / Carvana Co. Florian Homm’s trial on charges of fraud, criminal mismanagement... NEW YORK, Oct. 5, 2020 /PRNewswire/ -- The Board of Advisors of Children of Fallen Patriots Foundation names Gabriel Plotkin as its newest member. As per Forbes, Gabriel Plotkin maintains a net worth of $300 million, but the details of his current financial condition are under review. The deal is estimated to be worth $1.4 billion within 24 months, thus making SchollyME the largest recruiting app in the country. Melvin Capital Management was a net seller of stock by $-295M. Gabriel Plotkin was born and raised in Portland, Maine, the USA, by his parents. Since founding the firm in 2014, Plotkin has been considered one of the industry’s most gifted stock pickers, posting an average 30% a year through the end of 2020. Net Worth and Insider Trades. Melvin Capital Management is a hedge fund with 7 clients and discretionary assets under management (AUM) of $13,101,469,954 (Form ADV from 2021-02-01). Melvin surged 47% in 2015, putting it at No. Melvin Capital is largely admirable for its relative returns. February 25, 2021. All rights reserved. Gabriel Plotkin sharpened his investment philosophy as a portfolio manager at Sigma Capital, which was SAC Capital’s (now known as Point72 Asset Management) subsidiary, where he managed a $1.3 billion portfolio centered on stocks from the Consumer Products industry. Suneil Setiya, the co-founder of quant investing firm Quadrature Capital, is in talks to purchase a penthouse in London’s luxury One Hyde Park development for about 110 million pounds ($153 million),... Ken Griffin, the billionaire CEO of hedge fund Citadel, defended his $2 billion investment in short seller Gabe Plotkin’s Melvin Capital last month amid the height of the GameStop mania. Hedge Fund Melvin Capital Has Closed GameStop Position: Spokesman By Reuters , Wire Service Content Jan. 27, 2021 By Reuters , Wire Service Content Jan. 27, 2021, at 11:11 p.m. Portfolio manager(s) are listed as Gabriel Plotkin. Last year was also a fantastic one for Melvin Capital Management, as it generated an impressive return of 41% net of fees. Not only that, in its first year it managed to outperform Point72 Asset Management, which returned 15.5% in 2015. Holder Issuer Net Short Position Position Date Origin; Melvin Capital Management LP Cimpress Deutschland GmbH: 2.28%: 2020-03-02: GERMANY: Melvin Capital Management LP Evotec SE: The net worth of Gabriel Plotkin reportedly took a beating earlier in January as Reddit users took aim as his Melvin Capital Management in a headline-making short squeeze of GameStop stock (NYSE: GME). In his testimony—published online by The Washington Post—Plotkin admitted that he was “far removed” from his background growing up in a middle-class family in Portland, Maine, and going to public high school. Big earnings came fast for Gabriel Plotkin, who found himself among Forbes’ list of the Highest Earning Hedge Fund Managers 2018. 1990 +55%. Verified net worth. 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