Billionaire investor Ken Griffin’s hedge funds at Citadel all achieved double-digit returns in 2024, with the tactical trading strategy leading the way.
Citadel’s largest fund, the multistrategy Wellington fund, ended the year with a 15.1% gain. According to a source familiar with the returns, all five strategies employed in the flagship fund – commodities, equities, fixed income, credit, and quantitative – yielded positive results for the year.
The tactical trading fund based in Miami stood out as the top performer, delivering a return of 22.3% in 2024. Citadel’s equity fund saw a return of approximately 18%, while its global fixed income strategy recorded a gain of 9.7%.
Citadel chose not to provide a comment. The hedge-fund giant managed $66 billion in assets as of December.
The stock market concluded a successful year, with the S&P 500 rising by 23.3%, following a 24.2% increase in 2023. The cumulative two-year gain of 53% marks the best performance since the nearly 66% surge in 1997 and 1998.
Griffin recently expressed concerns about the significant tariffs proposed by President-elect Donald Trump, warning about potential consequences of crony capitalism.
The CEO also mentioned that there are no immediate plans to take Citadel Securities public. The Miami-based market maker was established by the 56-year-old Florida native in 2002.
