Nine investors, including large fund-running institutions like Fidelity FMR and BlackRock (BLK) plus some well-positioned individuals like Chewy (CHWY) co-founder Ryan Cohen watched the value of their GameStop holdings soar more than $1 billion. That’s based on an Investor’s Business Daily analysis of the most current holdings reported to S&P Global Market Intelligence. It’s possible some of these investors may have boosted or cut their stakes since the rally.
All told, these nine investors made a total of $16 billion on their GameStop stakes, just this year.
The rally in GameStop is breathtaking. Shares of the struggling mall-based video game seller are up more than 1,600% — just this year. GameStop, by far, is the top stock in the S&P 1500 index this month. The stock is rallying as individual investors pour into the stock. Big investors heavily shorting the stock are now forced to buy it to close out their positions.
Who’s winning on the trade?
Big Index Funds Big Holders Of GameStop GME Stock
GameStop’s financial future isn’t all that bright. But it’s still a member of the S&P Small Cap 600 index and Russell 2000. As a result, large index small-cap funds and ETFs are forced to own it. That’s looking smart now.
Fidelity FMR is the top holder of GameStop shares. It owns 9.5 million shares, through September, or nearly 14% of shares outstanding. Adding that up and Fidelity hauled in a $3 billion gain just this year for its investors.
Similarly, BlackRock scored $2.7 billion and Vanguard $1.7 billion, as they own 12.3% and 7.6% of GameStop, respectively.
Chewy co-founder Ryan Cohen keeps finding himself in the right place at the right time. He is the single-largest individual owner of GameStop shares after a Jan. 10, 2021 transaction. He now owns 9 million shares, or nearly 13% of shares outstanding. That translates into a practically overnight gain of $2.9 billion this year. Cohen is also on GameStop’s board of directors, as well as Chewy and PetSmart.
But right now, it’s the GameStop position that matters most.
Largest GameStop Investors
All are up a $1 billion or more this year based on most recently disclosed positions.
|Holder||Common Shares Held (Millions)||% Of CSO||Gain ($ Billions)||Position Date Update|
|FMR (Fidelity Investments)||9.5||13.7%||$3.0||Sep-30-2020|
|Susquehanna International Group||4.4||6.3||1.4||Sep-30-2020|
|Dimensional Fund Advisors||3.9||5.7||1.3||Sep-30-2020|
|Donald A. Foss||3.5||5.0||1.1||Feb-28-2020|
|MUST Asset Management||3.3||4.7||1.1||Mar-18-2020|
Sources: IBD, S&P Global Market Intelligence
Follow Matt Krantz on Twitter @mattkrantz
This content was originally published here.