Citadel, AQR’s flagship portfolios far outpacing broader stock market

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FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange, in New York City

NEW YORK -Hedge funds AQR and Citadel posted rises in their flagship portfolios last month that outpaced the broader stock market’s double digit losses.

Citadel’s multi-strategy Wellington fund had a modest rise in May and now boasts gains of 13% for the year.

Ken Griffin’s Citadel told investors that the fund inched up 0.23% in May when the S&P 500 index ended flat. May’s small increase follows a more robust 7.45% gain in April when the S&P tumbled nearly 9%.

The S&P was off 13.3% in the first five months of 2022.

Citadel Equities is up 6.46% for the first five months of the year, while the firm’s Global Fixed Income fund is up 14.35% and its Tactical Trading portfolio has risen 9.85% since January, Griffin said.

A spokesman for the firm declined further comment.

Citadel manages $51 billion in assets and its gains place the firm’s portfolios in sharp contrast to those of many other hedge funds, including Tiger Global – one of the industry’s biggest firms.

AQR’s Absolute Return is up 43.3% in the year, inking a gain of 5.5% last month, as the fund has benefited from the current macro environment.

The firm’s Equity Market Neutral hedge fund has comfortably beaten the S&P in May, up 13.2% in the month. Its return in the year is positive 52.5%. AQR has $117 billion in assets under management.

The HFRX Equity Hedge Index fell 3.31% in the first five months of 2022, according to data provider Hedge Fund Research.

(Reporting by Svea Herbst-Bayliss and Carolina Mandl; Editing by Emelia Sithole-Matarise, Bernard Orr)