Hedge fund returns halfway through 2025: How big names like Citadel, Balyasny, and more have managed this year's markets

Ken Griffin, founder of Citadel, has been critical of the administration's tariff policies.Jamel Toppin/ForbesAt 2025's halfway point, the biggest hedge funds are, for the most part, on par with the stock market.Several funds were stung by the volatility earlier this year.Stocks have since rebounded, and many firms had decent returns in June.Despite a rollercoaster start to 2025, the biggest hedge funds are positive for the year, tracking close to what stock markets have returned.Ken Griffin's Citadel, which lost money in a hectic March, returned 1.7% in June in its flagship Wellington fund, a person close to the Miami-based firm said. The fund's six-month return now stands at 2.5%, lower than many of its smaller multistrategy peers.For example, according to people close to the two firms, Michael Gelband's ExodusPoint and Dmitry Balyasny's eponymous firm are up 9.3% and 7.3%, respectively, through the first half of the year.Equity markets surged in June, with the S&P 500 index up 5%. This pushed the index's 2025 gain to more than 5.7%, a stark reversal from the dip experienced in global equities in March and early April, when President Donald Trump's tariff policies were rolled out.There are still plenty of macro worries that could roil markets, though. Tensions between Israel and Iran remain high after the ceasefire announced last week. Trump's budget proposal, the so-called "big, beautiful bill" that would add trillions in debt, passed the Senate Tuesday and is back in the House of Representatives.The firms below either declined to comment or did not immediately return requests for comment. Additional figures will be added as they are learned.FundJune performance2025 performanceAQR Apex0.9%11.4%Dymon Asia2%10.1%ExodusPoint1.8%9.3%Balyasny2.4%7.3%Man Group 17830.8%6.1%Schonfeld Partners1.1%6%LMR1.4%5.9%Citadel Wellington1.7%2.5%Verition0%1.2%Read the original article on Business Insider

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