Steve Cohen’s Point72, Ken Griffin’s Citadel and Izzy Englander’s Millennium Management emerged as the top performers in the first six months of 2024, marking a strong recovery for major Wall Street hedge funds after a sluggish 2023, according to a report by Business Insider.
Figures obtained by Business Insider reveal that Point72, the Connecticut-based hedge fund managed by Cohen, is up 8.7% year-to-date.
Citadel and Millennium have also posted significant gains, with the former’s Tactical Trading Fund led the pack with an impressive 13.7% return in the first six months, according to unnamed sources. The firm’s flagship Wellington fund meanwhile rose by 8.1%, while Millennium’s flagship fund increased by 6.9%.
Despite the gains, top-tier hedge funds still lagged the S&P 500 index, which rose more than 16% during the same period. Last year, Cohen, Griffin and Englander also struggled to keep pace with the S&P 500 and the Nasdaq.
Overall, hedge funds reported an average gain of 5.2% by the end of May, according to Hedge Fund Research.
