Melvin Capital Management, the hedge fund that bought crushed on its guess against GameStop last 12 months, a lot more than doubled its stake in Amazon in the 1st quarter of 2022, whilst slicing positions in several treavel and leisure shares. The hedge fund, led by Gabe Plotkin, greater its stake in Amazon by 1practically 168%, bringing its keeping to $436.5 million. Melvin also raised its place in Microsoft by 18.4%, and now owns $365.1 million truly worth of inventory. In the meantime, Melvin lowered positions in numerous vacation and leisure stocks, which account for some of its major holdings, like Dwell Nation Entertainment, Hilton Resorts, Marriott Worldwide and Expedia. Melvin did, having said that, open a stake in MGM Resorts International, which analysts have referred to as an beautiful chance as the Las Vegas proceeds to get better and the convention company bounces again. A new $331 million position in Visa put the payments business in Melvin’s best 10 holdings. It also opened a position in components firm Martin Marietta and additional to a stake in actual estate agency CoStar Team. Its CoStar place was worthy of $147 million at the finish of the initially quarter. Plotkin has reportedly been thinking about unwinding the present-day fund to commence a new a single , CNBC documented earlier this month. The fund was down 21% at the close of the 1st quarter.