Citadel founder and CEO Ken Griffin speaks at The New York Times’ annual DealBook Summit on December 4, 2024 in New York City.
Michael M. Santiago | Michael M. SantiagoGetty Images
Billionaire investor Ken Griffin’s handful of hedge funds at Citadel all posted double-digit returns in 2024, driven by his tactical trading strategies.
Citadel’s largest multi-strategy Wellington fund is up 15.1% this year, according to a person familiar with the matter. All five strategies used by the flagship fund — commodities, equities, fixed income, credit and quant — have performed positively this year, this person said.
The Miami-based firm’s tactical trading funds performed best, returning 22.3% in 2024, the person said. Last year, Citadel’s equity funds returned about 18%, while its global fixed-income strategy gained 9.7%.
Citadel declined to comment. As of December, the hedge fund giant had $66 billion in assets under management.
The stock market just ended a stellar year, with the S&P 500 soaring 23.3% on top of a 24.2% gain in 2023.
Griffin, who recently criticized the steep tariffs President-elect Donald Trump has vowed to impose, said Crony capitalism may be a consequence.
The CEO also said he was not focused on taking Citadel Securities public in the foreseeable future. The securities firm is a Miami-based market maker founded in 2002 by the 56-year-old Floridian.
