- Ken Griffin’s $63 billion Citadel lost 0.8% in May, several people told Business Insider.
- The firm’s rivals were nearly all positive last month.
- Schonfeld’s flagship fund is leading returns this year among the main multistrategy managers.
The Citadel machine malfunctioned — slightly — last month.
The $63 billion Miami-based hedge fund, crowned by LCH Investments as the most profitable hedge fund of all time, lost 0.8% last month in its flagship Wellington fund, several people told Business Insider.
The loss brought its 2024 returns to 7% through the end of May. By comparison, the S&P 500 is up more than 11% this year thanks to a nearly 5% surge in May on the back of megacap stocks like Nvidia.
Citadel rivals enjoyed a stronger month, particularly Schonfeld, the New York-based firm once at risk of being subsumed by Millennium. The firm’s flagship fund is up 8.2% through 2024’s first five months thanks to a 1.3% gain in May, several people said.
Point72 and Millennium, meanwhile, returned 1% and 0.8% last month, bringing their 2024 gains to 6.9% and 5.8%, respectively.
Michael Gelband’s ExodusPoint continues to trail its largest multi-strategy rivals for the year but bounced back from a tough April with a 0.9% return last month. The New York-based fund is up 2.9% this year through May.
The firms mentioned either declined to comment or did not respond to requests for comment. See more on top hedge-fund performance results here: