Maplelane Capital, one of the hedge funds that lost much of its vitality during the retail air war earlier this year, is still struggling to get out of trouble like any other company.

According to people familiar with the matter, the fund rose 0.4% in July and is still down 38.5% so far this year.

Maplelane fell 45% in January alone because shorting GameStop Corp. was repulsed by the retail army. A person familiar with the matter said that although the fund rose 6.5% and 2.1% respectively in February and March, its performance in the second quarter was lackluster, rising only 1.1%.

Other hedge funds, which were defeated in the battle of retail investors to force the air, are also struggling to get through difficult times. A person familiar with the matter revealed that the performance of Melvin Capital Management under Gabe Plotkin improved in July, rising 5.4%, but it is still down about 43% so far this year. After a sharp drop of nearly 55% in January, Melvin rebounded 25% in the six months ending July 31.

Maplelane, run by Leon Shaurov and Rob Crespi, focuses on technology and consumer stocks. According to a person familiar with the matter, the hedge fund manages assets of about 3 billion US dollars, including 1 billion US dollars raised from investors after January. Maplelane rose about 35% in 2020.