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Jeremy Grantham, GMO bought GameStop inventory, missed $18 million windfall – Markets Insider

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Jeremy Grantham.



  • Jeremy Grantham’s fund probably misplaced out on $18 million by dumping its GameStop stake.
  • GMO held round 38,000 GameStop shares, however bought them just a few years in the past.
  • Even when it held on throughout the brief squeeze, its stake can be price $5 million as we speak.
  • See extra tales on Insider’s enterprise web page.

Legendary investor Jeremy Grantham’s fund missed out on a attainable $18 million windfall by promoting GameStop earlier than the inventory skyrocketed this yr.

Grantham, Mayo & Von Otterloo owned 37,700 shares within the video-games retailer within the fourth quarter of 2016, regulatory filings present. GameStop’s inventory was buying and selling round $25 on the time, valuing GMO’s stake at near $1 million.

Grantham and his group cashed out the next quarter. In the event that they hadn’t, their GameStop shares would have fetched over $18 million on the top of the brief squeeze in January. In the event that they did not promote in any respect, their stake can be price about $5 million as we speak.

GMO’s bosses will not be too involved about lacking out, nonetheless. That they had about $16 billion price of US shares of their portfolio on the finish of December, together with a $683 million stake in Microsoft and $578 million of Apple inventory, filings present.

Others have left far more cash on the desk. Veteran investor Invoice Miller’s fund, Miller Worth Companions, held practically 1.7 million GameStop shares on the finish of 2015. These shares would have fetched over $800 million on the peak in January, and greater than $200 million on the present inventory value.

Nonetheless, Miller and his group slashed their place by greater than 95%, ending 2020 with round 116,000 shares – price about $18 million as we speak.

Equally, Michael Burry of “The Large Quick” purchased a stake in GameStop in 2019, and wrote a number of letters to the corporate’s board that championed its potential. Nonetheless, the investor’s Scion Asset Administration fund bought its 1.7 million GameStop shares within the fourth quarter of 2020. These shares would have been price greater than $820 million in January.



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