Discovery Capital Management, the macro hedge fund founded by Rob Citrone, continues to delivered standout performance, with returns exceeding 33% year-to-date following a strong 6.6% gain in October, according to a report by Financial News London. The report cites unnamed people familiar with the matter as highlighting that the latest performance boost brings the firm’s assets under management to around $3bn, underscoring renewed investor confidence after a series of exceptional years. Discovery posted 48% gains in 2023 and 52% in 2024, cementing its reputation as one of the most consistent out-performers in the macro hedge fund space. Citrone’s fund has thrived amid volatile market conditions, capitalising on this year’s tariff-driven trading environment, with gains of 6% in April and 7% in May. The veteran investor — who reportedly earned $730 million in 2024, outpacing peers such as Bill Ackman and Paul Singer, according to Bloomberg — continues to demonstrate strong tactical agility across macro and emerging market trades. Discovery Capital’s 2025 performance far outstrips both major equity indices and the broader macro hedge fund industry, which has returned 4.7% on average through October, according to Hedge Fund Research (HFR). By comparison, the S&P 500 is up about 15%, while the Nasdaq has risen more than 20% this year. The strong run for Discovery follows a broader trend of selective outperformance among macro managers. Rokos Capital Management, led by Chris Rokos, has achieved 21% year-to-date gains, while Brevan Howard’s Alpha Strategies Fund is up 7.7% after a modest 1% rise in October.
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