Multi-strategy hedge fund major Citadel's flagship Wellington fund delivered a 1.8% gain in October, extending its strong performance for the year, according to a report by Reuters citing an unnamed source familiar with the matter.

The fund, run by billionaire Ken Griffin, is now up roughly 13% year-to-date, outperforming many peers in a volatile macro environment.

The gains were driven by profitable trades across equities, fixed income, and commodities, reflecting Citadel’s continued strength in diversified, data-driven strategies. The firm’s global fixed income and equities businesses were reported to have been key contributors.

Citadel, which manages more than $60bn in assets, has been among the most consistent performers in the hedge fund industry, benefiting from its multi-strategy model and risk management discipline.

The performance adds to Citadel’s impressive track record following a record-setting 2022, when Wellington delivered more than 38% returns – one of the strongest years ever for a major hedge fund.