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- Ken Griffin's $61 billion Citadel is leading multistrat funds in performance this year.
- The firm's flagship fund returned 2% in April, bringing 2024 gains to 7.8%.
- Firms such as Walleye, Millennium, and Schonfeld are also off to a strong start this year.
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Despite equity markets tumbling in April, Ken Griffin's teams of stockpickers helped lead his firm to a 2% return in its $61 billion flagship fund.
A person close to Griffin's Citadel told Business Insider that Wellington's year-to-date returns rose to 7.8% following April's gains. The Miami-based manager's equity performance was particularly strong, with the firm's Tactical Trading fund — which includes fundamental long-short strategies as well as quant — gaining 3.3% last month to bring its 2024 gains to 11.2%.
The strength in equities comes despite a sluggish month in the stock market that saw the S&P 500 fall 4.2%.
The five strategies that feed into Wellington — quant, commodities, equities, credit, and macro — are all positive for the year, the person said.
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One of Citadel's largest rivals, Izzy Englander's Millennium, gained 1.2% for the month. The New York-based firm is up 5% in 2024, a person close to the fund said. Dmitry Balyasny's eponymous manager was also positive last month despite the equity sell-off, gaining 0.9%. This pushed the Chicago-based manager's 2024 returns to 4%, a person close to the firm told Business Insider.
While Walleye recently underwent some changes at the top of its organization, the $5.7 billion manager is also seeing a strong start to 2024. A 0.8% gain in April has the firm posting returns of 6.6% for the year, a person close to Walleye said.
Verition is up 4.2% for the year following a 0.4% gain in April, while Steve Schonfeld's flagship fund is up 6.8% this year following a 0.5% return, according to people with knowledge of the results.
Fund | April performance | 2024 performance |
Citadel Wellington | 2% | 7.8% |
Schonfeld Strategic Partners | 0.5% | 6.8% |
Walleye | 0.8% | 6.6% |
Schonfeld Fundamental Equity | 0.2% | 6.2% |
Point72 | 0.6% | 5.9% |
Sculptor Master Fund | 0.5% | 5.6% |
Millennium | 1.2% | 5% |
Verition | 0.4% | 4.2% |
Balyasny | 0.9% | 4% |
ExodusPoint | (0.2%) | 2% |
Eisler | (0.5%) | (0.5%) |
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