Citadel Founder and CEO Ken Griffin speaks at The New York Times’ Annual Dealbook Summit in New York City on December 4, 2024.
Michael M. Santiago | Getty Images
Citadel’s handful of hedge funds, led by billionaire investor Ken Griffin, all posted double-digit returns in 2024 thanks to their tactical trading strategies.
Citadel’s multi-strategy Wellington fund, the largest, ended the year up 15.1%, according to people familiar with the returns. All five strategies employed by the flagship fund – commodities, stocks, bonds, credit and quantitative – were positive this year, the person said.
The Miami-based firm’s tactical trading fund had an outstanding performance with a 22.3% return in 2024, the people said. Citadel’s equity fund returned about 18% last year, while its global bond strategy returned 9.7%.
Citadel declined to comment. The hedge fund giant managed $66 billion in assets as of December.
The stock market just came off a great year with the S&P 500 index soaring 23.3% and 2023 up 24.2%. The two-year 53% increase is the highest since 1997 and 1998, when prices rose about 66%.
Mr. Griffin recently criticized the high tariffs that President-elect Donald Trump has vowed to introduce, saying crony capitalism could lead to their consequences.
The CEO also said the company is not focused on taking Citadel Securities public for the time being. The brokerage is a Miami-based market maker founded in 2002 by the 56-year-old Florida native.
