Hedge Fund Maplelane Is Clawing Way Back From GameStop Losses

(Bloomberg) -- Maplelane Capital, the hedge fund that lost 45% in January in part by shorting GameStop Corp., is starting to recover.

The fund rose 6.5% in February and 2.1% in March, according to people familiar with the matter, and ended the first quarter with a loss of 39.5%. The fund benefited from its long and short wagers on technology and consumer-focused companies, one of the people said.

In January, Maplelane’s short on GameStop and American Airlines Group Inc. backfired as Reddit-fueled retail investors drove up the price of the companies. The fund has since closed out those positions.

Maplelane has made money in 14 of the past 15 months, one of the people said.

The $3 billion New York-based firm, run by Leon Shaulov and Rob Crespi, declined to comment.

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