Major multistrategy hedge funds generated gains in November despite an early-month tech sell-off. Citadel's flagship Wellington fund rose 1.4% in November and is up 8.3% year-to-date; its Tactical Trading fund gained 2.6% in November and is up 16.3% in 2025. The $30 billion Balyasny gained 2.5% in November and is up 15.3% in 2025. ExodusPoint rose 1.2% in November, pushing year-to-date returns to 15.6%. Many multistrategy managers outperformed the S&P 500, which gained just 0.1% in November as tech weakness was partially reversed by Nvidia earnings and strong iPhone sales.
"Hedge funds' biggest names had a solid November despite an early-month sell-off of hot tech stocks. Citadel, Balyasny, and ExodusPoint all made money in the month, people close to the managers told Business Insider. Miami-based Citadel, run by billionaire Ken Griffin, was up 1.4% in its flagship Wellington fund. The fund has made 8.3% for the year. The manager's Tactical Trading fund, which combines the firm's quant and flesh-and-blood stockpickers, is up 16.3% in 2025 after 2.6% gain last month."
"The $30 billion Balyasny continued its strong year with a 2.5% gain in November. The manager is now up 15.3% in 2025. ExodusPoint pushed its year-to-date returns to 15.6% with a 1.2% bump in November. These firms and many other multistrategy managers outperformed the S&P 500 last month; the index gained just 0.1% thanks to an early-month sell-off of tech stocks that was partially reversed by strong earnings from chipmaker Nvidia and solid iPhone sales by Apple."
Read at Business Insider
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