New York (HedgeCo.net) – While a number of well-known hedge funds have struggled throughout 2015, one fund that isn’t struggling is Melvin Capital. Through the end of October, the fund is up almost 40 percent according to a recent article from CNBC.

The fund focuses on consumer stocks and has approximately $1.5 billion in assets under management. Melvin is managed by Gabriel Plotkin, a former trader and investment manager at SAC Capital. The fund started trading in 2014 and was backed partially by former SAC founder and owner Steve Cohen.

CNBC used data from Symmetric, an industry data provider, and it stated the main reasons for the fund’s performance were holdings in Amazon (Nasdaq: AMZN), Constellation Brands (NYSE: STZ), Alphabet (Nasdaq: GOOGL) and Expedia (Nasdaq: EXPE). Amazon is up over 115 percent and it is the largest holding for Melvin. Constellation and Alphabet are both up approximately 45 percent and Expedia is up 43 percent.

The return has more than tripled the return of Point72, the family office that took the place of SAC Capital, which is up a respectable 12 percent this year.

Rick Pendergraft
Research Analyst
HedgeCoVest