Ken Griffin, the founder and CEO of Citadel, made an appearance at The New York Times’ DealBook Summit in New York City on December 4, 2024. During this event, he shared some impressive results from Citadel’s hedge funds for the year.
In 2024, Griffin’s hedge funds at Citadel achieved remarkable double-digit returns, driven primarily by the firm’s tactical trading approach. The largest of Citadel’s funds, the multistrategy Wellington Fund, saw a 15.1% increase, as mentioned by someone familiar with the fund’s outcomes. Every single one of the five strategies within this flagship fund, which cover areas like commodities, equities, fixed income, credit, and quantitative investing, recorded gains throughout the year.
The top performer was Citadel’s tactical trading fund, delivering an impressive 22.3% return. The equity fund wasn’t far behind with an 18% gain, while the global fixed income strategy also had a solid year with a 9.7% increase.
Citadel chose not to comment on these figures. As of December, the powerhouse hedge fund managed assets totaling $66 billion.
On the broader market front, the S&P 500 experienced a standout year, climbing 23.3%, following a 24.2% increase in 2023. This two-year growth of 53% is the most significant since the nearly 66% surge seen back in 1997 and 1998.
Griffin has openly criticized the steep tariffs President-elect Donald Trump plans to impose, warning that such measures could lead to crony capitalism. However, he has also expressed that taking Citadel Securities public isn’t on his agenda for the near future. Citadel Securities, a prominent market maker, was founded in Miami by Griffin himself back in 2002.
