Ken Griffin’s Hedge Funds Post Double-Digit Returns in 2024
Ken Griffin, the founder and CEO of Citadel, announced that his handful of hedge funds all posted double-digit returns in 2024. The firm’s multistrategy Wellington fund, its largest, finished the year up 15.1%. All five strategies used in the flagship fund, including commodities, equities, fixed income, credit, and quantitative, were positive for the year.
The firm’s tactical trading fund was the standout performer, with a 22.3% return for 2024. Citadel’s equity fund returned about 18%, while its global fixed income strategy gained 9.7%.
As of December, Citadel had $66 billion in assets under management. The stock market closed out a banner year, with the S&P 500 surging 23.3%, building on a gain of 24.2% in 2023. The two-year gain of 53% is the best since the nearly 66% rally in 1997 and 1998.
Griffin has criticized the steep tariffs President-elect Donald Trump has vowed to implement, saying crony capitalism could be a consequence. He has also stated that he is not focused on taking Citadel Securities public in the foreseeable future. The securities firm was founded by Griffin in 2002 and is based in Miami.