Hedge fund giants Millennium Management and Citadel saw their first quarter 2025 losses extend in March as market turbulence and trade tensions weighed on performance, even as several other hedge fund rivals posted gains, according to a report by Bloomberg.
Millennium’s flagship fund declined 1.2% in March, bringing its Q1 losses to 2%, while Citadel’s main fund fell 0.5% last month, extending its year-to-date drawdown to 0.85%.
Balyasny Asset Management also struggled, losing 1% in March, though it remains up 2.6% for the year.
In contrast, quantitative and value-driven strategies outperformed. Renaissance Technologies’ Institutional Equity Fund (RIEF) climbed 12.6% in Q1, and David Einhorn’s Greenlight Capital gained 8.2%, capitalizing on weakness in the high-profile “Magnificent Seven” tech stocks, including Nvidia and Apple.
