Citadel’s flagship Wellington fund is up about 9% for the year, after the firm run by billionaire Ken Griffin posted a record $16 billion profit in 2022.
(Bloomberg) — Citadel’s flagship Wellington fund is up about 9% for the year, after the firm run by billionaire Ken Griffin posted a record $16 billion profit in 2022.
The multi-strategy Wellington fund gained 1.3% in July, with all of its core investment strategies, including commodities, up for the year, according to a person familiar with the matter who asked not to be named discussing internal business.
The strong performance comes as the rest of the hedge fund industry posts mixed results amid whipsawing oil prices and recessionary fears that have weighed on markets. Famed oil bull Pierre Andurand’s main fund, for example, saw one of its worst monthly performances during the first quarter before notching one of the best months on record in July this year.
Citadel’s commodities business, led by Sebastian Barrack, has become an industry powerhouse in recent years. The company trades crude oil, refined products and natural gas and has recently added traders to boost its energy trading capabilities. A chunk of Citadel’s 38% gain last year came from commodity wagers, Business Insider reported earlier this year.
–With assistance from Hema Parmar.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.