Ken Griffin’s hedge fund Citadel is up again in 2023 following a record year

Billionaire capitalist Ken Griffin's flagship hedge money matched the broader market's show successful the opening of 2023 pursuing a grounds year, according to a idiosyncratic acquainted with the returns.

Citadel's multi-strategy flagship Wellington money gained 0.7% past month, bringing its 2023 show to 2.8% done February, the idiosyncratic said. The S&P 500 mislaid 2.6% successful February, but is inactive up 3.4% this twelvemonth done the extremity of past month.

The banal marketplace staged a rebound successful 2023, led by beaten-down tech shares, arsenic investors stake that the worst of the Federal Reserve's tightening rhythm is over. But immoderate large sanction investors similar Greenlight's David Einhorn judge that stocks person much country to fall.

This year's summation comes aft a stellar twelvemonth for the hedge fund, which soared 38% successful 2022, marking the firm's champion twelvemonth ever and outperforming its largest competitor, Millennium, by much than 3 to 1. Citadel has besides racked up a astir 117% instrumentality implicit the three-year play from 2020 to 2022.

Hedge funds purpose to connection downside extortion during marketplace turmoil, and Citadel managed to shine during the worst chaos successful the marketplace successful years. The S&P 500 tumbled into a carnivore marketplace successful 2022 arsenic recession fears intensified connected the backmost of the Fed's assertive complaint hikes to tame the highest ostentation successful 40 years.

Macro hedge funds, those making bets astir governmental oregon economical events, person fared peculiarly good arsenic tighter monetary argumentation from planetary cardinal banks stoked chaotic moves successful antithetic plus classes, from bonds to stocks, and commodities to currencies.

Citadel's equities fund, which uses a long/short strategy, is up 2.4% this year, portion its planetary fixed income money is higher by 1.6% truthful acold successful 2023, the idiosyncratic said.

Citadel's assets nether absorption exceeded $54 cardinal arsenic of the commencement of 2023.