Bradley Saacks

Citadel and Millennium posted gains in a choppy February as Balyasny and Jain Global slipped

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Ken Griffin’s Citadel performed across the board in February.

The firm’s five strategies that feed into its flagship Wellington fund — fundamental equity, quant, commodities, fixed income and macro, and credit and convertibles — were all up last month, a person close to the Miami-based manager told Business Insider.

The fund was up 1.9% on the month, bringing its 2026 gains to 2.9%.

The firm, which managed $66 billion at the start of February, notched gains of 1.5% in February in its tactical trading fund, which blends the firm’s fundamental stockpickers with its computer-run equity portfolios.

Michael Gelband’s ExodusPoint, which had its best year on record in 2025, was up 0.9% last month, a person close to the New York-based firm said. The manager is now up 2.6% for 2026. Millennium is now up 2% on the year after a 0.6% gain in February.

It was another banner month for Asia-based multistrategy funds. $6 billion Dymon Asia made nearly 5% in February, bringing its 2026 gains to more than 10%, while Pinpoint Asset Management is up 6.6% for the year in its flagship fund.

The stock market was down on the month, as the S&P 500 index gave back some of the gains it had notched in January. The broad sell-off in software stocks, driven by AI releases, hurt blue-chip companies like Salesforce.

There were a few multistrategy managers that ended the month down. Balyasny lost 0.4% on the month, though is still positive for the year. Walleye had its second straight down month in February, and is now down 1.4% in 2026. Jain Global lost money again in February and is down 2.2% on the year.

This month has already been volatile thanks to the strikes against Iran by the US and Israel on Saturday. Oil prices have surged, and stocks tumbled on Monday.

Firms mentioned in the story and the table below declined to comment.

This story was originally published on March 2 at 10:22 a.m. New figures have been added to the table below as they have been learned.




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Bradley Saacks

Here’s how hedge funds like Citadel, Point72, and Balyasny performed in January

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The biggest hedge funds in the $5 trillion industry started 2026 in the black, for the most part.

Steve Cohen’s $45.7 billion Point72 started the year strong with a 2.9% gain, a person close to the firm said.

Ken Griffin’s $65 billion Citadel returned 1% in its flagship Wellington fund in January, a person close to the Miami-based firm told Business Insider. Schonfeld also returned 1% in its flagship Partners fund last month, a person close to the firm said. Michael Gelband’s ExodusPoint, which had its best year in 2025, was up 1.8% in January, a person close to the manager said.

Multistrategy funds place bets across a diversified set of strategies to generate strong returns for investors. However, a trend started in 2025 seems to be continuing for some big names: Citadel and Schonfeld’s smaller funds outperformed their broader flagship offerings.

Citadel’s Tactical Trading fund, which blends its fundamental stockpicking strategies with its computer-run ones, was up 2% in January, a strong showing given the choppy start to the year quant funds have faced. The firm’s fixed-income-only fund was up 1.3%, the person close to the manager said.

Schonfeld’s Fundamental Equity fund was up 2.4% in January, and LMR’s convertibles-focused fund posted a 2.5% gain last month, people close to the two managers told Business Insider. Boothbay’s high-octane offering made 1.5% in January, while its flagship returned 1.3%, a person close to the New York-based firm said.

The S&P 500 index was up 1.4% last month, hitting all-time highs in the middle of January, before dipping slightly before the month’s end.

A bright spot in the industry was strategies focused on Asian markets. Two Asia-based multistrategy managers, $5 billion Dymon Asia and $3 billion Pinpoint Asset Management, had banner months, returning 5% and 4.8%, respectively.

For Pinpoint, it was the best monthly return since July 2020, a person close to the manager told Business Insider. Dymon Asia’s returns were driven by Asian equities and FX strategies, a senior executive at the firm told Business Insider.

Bobby Jain’s firm, meanwhile, continues to trail peers. At the start of the firm’s second full year of trading, Jain Global lost 0.9% in January, a person close to the manager said.

The firms mentioned declined to comment.

(Editor’s note: This story was originally published on February 2 at 12:33 p.m. New figures have been added to the table below as they have been learned.)




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