Said Haidar’s macro trading hedge fund, Haidar Jupiter, delivered a 15.8% gain in January, marking its best performance since June 2023 and offering investors a moment of relief following an extended period of steep losses, according to a report by Bloomberg.
The fund’s recent surge follows a brutal two-year stretch during which it plummeted by 62%, its worst-ever run since launching more than two decades ago. Despite the January rally, the fund would need to generate an additional 126% in returns to recover those losses.
A spokesperson for Haidar Capital Management declined to comment on the fund’s recent performance.
Haidar Jupiter is known for its aggressive, highly leveraged bets that can lead to dramatic double-digit gains — or equally sharp losses. This high-risk, high-reward approach sets it apart in an industry increasingly focused on steady, lower-risk returns for institutional investors such as pension funds.
“This fund is not for the faint-hearted,” remarked one client following the January results, acknowledging the stress of receiving monthly updates over the past two years.
The hedge fund has seen wild swings in performance since 2020, with two years of record gains followed by two years of devastating losses. Its assets under management dropped to under $750m by the end of 2024, down from almost $5bn at its peak two years earlier.
While the specific drivers of the fund’s January gains remain unclear, investor letters revealed that equities, fixed income, and commodities were its largest allocations during the month — the same asset classes that accounted for most of its losses in 2024.
