Billionaire investor Ken Griffin had a stellar year in 2024, with his hedge funds at Citadel all posting impressive double-digit returns. The firm’s multistrategy Wellington fund, its largest fund, ended the year up 15.1%. This flagship fund utilizes five different strategies – commodities, equities, fixed income, credit, and quantitative – all of which contributed to its positive performance.
One of the standout performers for Citadel was its tactical trading fund, which boasted a remarkable 22.3% return for the year. Additionally, the firm’s equity fund saw a return of approximately 18%, while its global fixed income strategy gained 9.7%. Citadel, headquartered in Miami, currently manages $66 billion in assets as of December.
The strong performance of Citadel’s hedge funds comes amidst a booming stock market, with the S&P 500 surging 23.3% in 2024. This marks a two-year gain of 53%, the best since 1997 and 1998. Despite the positive market environment, Griffin expressed concerns about President-elect Donald Trump’s proposed tariffs, warning of potential consequences of crony capitalism.
In addition to his hedge fund success, Griffin also leads Citadel Securities, a Miami-based market maker he founded in 2002. Despite speculation about the firm going public, Griffin stated that he is not currently focused on taking Citadel Securities public in the near future.
Overall, Ken Griffin’s Citadel had a standout year in 2024, with strong returns across its hedge funds and a cautious eye on potential market risks. As one of the most prominent figures in the financial industry, Griffin’s investment strategies continue to drive success for Citadel and its investors.
