Ken Griffin, founder and CEO of Citadel, speaks during The New York Times’ annual DealBook Summit in New York City, Dec. 4, 2024.
Michael M. Santiago | Getty Images
Billionaire investor Ken Griffin’s handful of hedge funds at Citadel all posted double-digit returns in 2024, led by its tactical trading strategy.
Citadel’s multistrategy Wellington fund, its largest, finished the year up 15.1%, according to a person familiar with the returns. All five strategies used in the flagship fund — commodities, equities, fixed income, credit and quantitative — were positive for the year, the person said.
The Miami-based firm’s tactical trading fund was the standout performer, with a 22.3% return for 2024, the person said. Citadel’s equity fund returned about 18%, while its global fixed income strategy gained 9.7%.
Citadel declined to comment. The hedge-fund giant had $66 billion in assets under management as of December.
The stock market just 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 recently criticized the steep tariffs President-elect Donald Trump has vowed to implement, saying crony capitalism could be a consequence.
The CEO also said he’s not focused on taking Citadel Securities public in the foreseeable future. The securities firm is a Miami-based market maker founded by the 56-year-old Florida native in 2002.