Market making firms have done really well due to wsb and the increase of retail volumes but it's unclear to me that hedge funds have benefited in any material way.
Not the OP, but check out the below examples. Beneficiaries across the range, from fundamental equity funds, quant funds, and distressed funds. The retail guys weren't just buying shares from themselves and market makers.
https://www.wsj.com/articles/this-hedge-fund-made-700-millio...
https://www.washingtonpost.com/business/2021/02/08/gamestop-...
https://www.reuters.com/article/us-amc-ent-holdg-silver-lake...