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Steve Cohen’s Point72 Lagged Behind Multistrategy Peers With 1.3% January Drop

Steve Cohen’s Point72 Asset Management lost money in January, making it an outlier as several multistrategy hedge funds posted gains during a volatile start of the year for stocks.

Point72 fell 1.3% last month, according to people familiar with the matter. A spokesman for the $24.2 billion hedge fund firm declined to comment. Gabe Plotkin’s Melvin Capital Management, in which Point72 has invested, tumbled 15% in January.