Hedge fund Senvest posts 85% return in 2021 riding GameStop meme, among Wall Street’s best

Pavlo Gonchar | LightRocket | Getty Images

There’s a famous market saying “As goes January, so goes the year.” The same can be said of last year’s January market mania and some of the 2021 hedge fund returns. 

In a year where the market lifted many funds higher, GameStop proved to still have an outsized impact on numbers for some of the funds on each side of the trade. 

Senvest Management – which famously made “one of the great fortunes of the January market mania,” as the Wall Street Journal described it, by being long GameStop ahead of the frenzy – generated full-year returns of 85 percent, according to an investor familiar with the numbers.

In the year through November, Senvest, with $3.2 billion in assets under management, stood as the best-performing hedge fund, according to figures tallied by HSBC. And it’s likely that the firm’s full-year performance allowed them to maintain that standing. 

Other side of the GameStop trade

Hedge fund performance for 2021

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