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Walleye and Balyasny lead January hedge fund gains

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Despite a turbulent start to the year marked by geopolitical uncertainty and market volatility, major hedge funds posted positive returns in January, with multi-strategy firms including Walleye Capital and Balyasny Asset Management proving particularly resilient, according to a report by Bloomberg.

The report cites unnamed sources familiar with the matter as revealing that Walleye, which manages $5.8bn in its multi-strategy fund, led the pack with a 3.6% gain. Larger competitors also delivered solid returns, with Balyasny Asset Management climbing 2.5% and Schonfeld Strategic Advisors rising 2.2% for the month.

The S&P 500 ended January up 2.7%, but markets were choppy amid concerns over President Donald Trump’s trade and immigration policies and a major breakthrough in Chinese artificial intelligence by DeepSeek. The month also saw a mid-January sell-off in tech stocks, with Nvidia plunging more than 10% for the year despite its blockbuster 2024 performance. However, other tech giants, including Meta and Amazon, remained in positive territory.

Multistrategy hedge funds largely weathered the turbulence, with ExodusPoint Capital posting a 2% gain, while Millennium Management ended the month up 0.5%, sources said.

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