DE Shaw & Co stood out as one of the few multi-strategy firms to post gains last week, as market turbulence, driven by the escalating conflict in Iran, hit many of the world’s largest hedge funds hard, according to a report by Bloomberg.

While Citadel’s Global Fixed Income fund and Taula Capital Management’s $7.6bn macro fund lost roughly 4.7–4.75%, DE Shaw’s flagship multi-strategy Composite fund rose 0.3%, bringing its year-to-date return to 2.8% through 6 March. Its Oculus fund, focused primarily on macro strategies, gained 2.2% last week, lifting annual gains to 5.1%.

Other hedge funds that recorded positive returns included Swiss-based ADAPT Investment Managers, up 1.9% for the week and 6% for the year, Pierre Andurand’s commodity-focused fund, Bobby Jain’s fund, and Tony Song’s China equities hedge fund at Alpine Investment Management.