Citadel’s hedge funds each returned more than 10% in 2023, outpacing the industry average but trailing the broader stock market.
Wellington, Citadel’s flagship multistrategy fund, was up 15.3% last year, a person familiar with the firm’s performance said. Three other Citadel-managed funds—focused on fixed income, stocks and tactical trading—were up between about 11% and about 15%, the person said.
The average gain for hedge funds in the year through November was 4.35%, according to a fund-weighted index compiled by research firm HFR, while the S&P 500 rose about 24% in 2023. Citadel invests with a market-neutral approach designed to produce returns that aren’t correlated with other asset classes.