Key Takeaways
- • Millennium Management, the $97 billion firm led by Izzy Englander, was flat in September and is up 8.1% in 2026, according to a person close to the firm.
- • Citadel's flagship fund returned 1.1% in September, lifting its year-to-date gain to 13.4%, while its Tactical Trading fund is up 28% year to date.
- • ExodusPoint lost 0.7% in September and is up 4.1% for 2026, while Walleye is the only tracked fund negative year to date at -0.5%.
- • Stock-picking managers had an easier month than bond-heavy peers, as the S&P 500 fell roughly 0.5% in September and North Rock Capital and Dymon Asia both made money.
- • Fixed-income-heavy managers struggled as interest rates rose, and the firms named in the report declined to comment on their figures.
Summary
The largest hedge funds posted a muted September, with several managers flat or slightly negative as bond markets sold off on rising interest rates. Business Insider reported on October 1 that Millennium Management, the $97 billion firm run by Izzy Englander, was flat for the month and has gained 8.1% year to date, according to a person close to the New York-based manager.
At Ken Griffin's Citadel, the $76 billion Miami-based firm overcame the bond market turmoil to post a gain. Its flagship fund rose 1.1% in September, bringing year-to-date performance to 13.4%, according to a person close to the firm. The firm's equities-focused funds, which strengthened after Citadel bought Leopold Aschenbrenner's public portfolio at a discount at the end of July, continued their strong run. All four fundamental equities businesses were positive in September, and the Tactical Trading fund, which blends quantitative and traditional stock-picking strategies, is up 28% in 2026.
Other managers had mixed results. Michael Gelband's ExodusPoint Capital Management lost 0.7% in September and has returned 4.1% in 2026, according to a person close to the firm. Gelband previously led Millennium's fixed-income unit. Schonfeld Strategic Advisors' flagship fund was flat in September and is up 6.8% year to date.
Stock-focused managers fared better. The S&P 500 finished September down roughly 0.5%, but North Rock Capital and Dymon Asia both made money. The performance table shows Man Group 1783 up 1.9% for September and 10.9% year to date, and Point72 up 0.2% for the month and 10.9% for the year. Verition lost 1.3% in September, the steepest decline among the tracked funds, while Walleye was down 0.2% for the month and 0.5% year to date. The firms mentioned declined to comment, and figures will be updated as they are confirmed.
At Ken Griffin's Citadel, the $76 billion Miami-based firm overcame the bond market turmoil to post a gain. Its flagship fund rose 1.1% in September, bringing year-to-date performance to 13.4%, according to a person close to the firm. The firm's equities-focused funds, which strengthened after Citadel bought Leopold Aschenbrenner's public portfolio at a discount at the end of July, continued their strong run. All four fundamental equities businesses were positive in September, and the Tactical Trading fund, which blends quantitative and traditional stock-picking strategies, is up 28% in 2026.
Other managers had mixed results. Michael Gelband's ExodusPoint Capital Management lost 0.7% in September and has returned 4.1% in 2026, according to a person close to the firm. Gelband previously led Millennium's fixed-income unit. Schonfeld Strategic Advisors' flagship fund was flat in September and is up 6.8% year to date.
Stock-focused managers fared better. The S&P 500 finished September down roughly 0.5%, but North Rock Capital and Dymon Asia both made money. The performance table shows Man Group 1783 up 1.9% for September and 10.9% year to date, and Point72 up 0.2% for the month and 10.9% for the year. Verition lost 1.3% in September, the steepest decline among the tracked funds, while Walleye was down 0.2% for the month and 0.5% year to date. The firms mentioned declined to comment, and figures will be updated as they are confirmed.
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