Skip to content
Market Spectator

Market Spectator

Primary Menu
  • Business
  • Domestic
  • Economy
  • Politics
  • Top News
  • Newsletters
Live
  • Home
  • 2024
  • December
  • 2
  • Big hedge funds score November gains with Trump election

Big hedge funds score November gains with Trump election

Market Spectator December 2, 2024
2024-12-02T181310Z_1_LYNXNPEKB10UR_RTROPTP_4_USA-TRUMP-BOULOS

By Carolina Mandl

NEW YORK (Reuters) -Several multibillion-dollar hedge funds gained in November, numbers seen by Reuters show, riding the volatility of the U.S. presidential election despite tight polling that made positioning more difficult for portfolio managers.

Following the election of Donald Trump on Nov. 5, U.S. stocks, the dollar and bitcoin rallied, while the euro and Mexico’s peso struggled. U.S. treasuries did well in November, with the 10-year Treasury yield down by about 10 basis points over the course of the month, as a rally at the end of the month offset yield gains around the election.

Overall, global hedge funds posted gains of 1.46% last month through Nov. 27, and are up 10.6% year-to-date, according to a Morgan Stanley prime brokerage note published on Nov 29.

Multi-strategy hedge fund Cinctive Capital, with roughly $3 billion in assets at the end of 2023, jumped 5.1% last month, driven by returns in sectors such as technology, consumer, energy, utilities and financials. 

Ken Griffin’s Citadel and Schonfeld both gained 1.8% in their flagship multi-strategy funds Wellington and Strategic Partners, according to sources. The Winton Fund gained 0.3%, a separate source said. 

Macro hedge fund Discovery Capital, founded by Rob Citrone, jumped 14.5% last month, another person said. His fund is up 46.5% on the year.

Discovery is known as a “Tiger cub” as its founder worked for legendary investor Julian Robertson at Tiger Management. Citrone bets on macro trends as well as equities, both long and short positions. All the asset classes were positive contributors to performance, this source added.

See below hedge funds’ performances in November*:

Fund Performance in

November

Citadel 1.8%

Wellington

Citadel 1.6%

Tactical

Trading

Schonfeld 1.8%

Strategic

Partners

Schonfeld 1.6%

Fundamenta

l Equity

Discovery 14.5%

Capital

The Winton 0.3%

Fund

Winton 0.2%

Diversifie

d Macro

Cinctive 5.1%

*Through Nov. 28th

(Reporting by Carolina Mandl, in New York; additional reporting by Nell Mackenzie, in London, and Davide Barbuscia, in New York; Editing by Bill Berkrot)

About the Author

Market Spectator

Administrator

View All Posts

Post navigation

Previous: JPMorgan’s investment banking chair departs, memo says
Next: Apple accused of silencing workers, spying on personal devices

Live Market Pulse

The charting technology is provided by TradingView. Learn how to use theTradingView Stock Screener.

Categories

  • Business
  • Domestic
  • Economy
  • Politics
  • Top News
  • Uncategorized

Recent Posts

  • European drinks group skid after US surgeon general calls for cancer warnings
  • AI a productivity boost to banks but making money from it is a challenge
  • Adobe forecasts fiscal 2025 revenue below estimates on slower subscription spending
  • Microsoft expects $800 million impairment charge in Q2 2025 over General Motors’ Cruise exit
  • Stunning rally in Big Tech drives Nasdaq to 20,000

You may have missed

2025-01-03T141432Z_1_LYNXMPEL020G8_RTROPTP_4_PERNOD-RICARD-INDIA-RAJASTHAN
  • Business

European drinks group skid after US surgeon general calls for cancer warnings

Market Spectator January 3, 2025
2024-12-11T214504Z_1_LYNXMPEKBA10D_RTROPTP_4_REUTERS-NEXT-GOLDMAN-SACHS-CEO
  • Business

AI a productivity boost to banks but making money from it is a challenge

Market Spectator December 11, 2024
2024-12-11T212535Z_1_LYNXMPEKBA102_RTROPTP_4_ADOBE-RESULTS
  • Business

Adobe forecasts fiscal 2025 revenue below estimates on slower subscription spending

Market Spectator December 11, 2024
2024-12-11T213952Z_1_LYNXMPEKBA109_RTROPTP_4_TECH-ANTIRUST-MICROSOFT
  • Business

Microsoft expects $800 million impairment charge in Q2 2025 over General Motors’ Cruise exit

Market Spectator December 11, 2024
  • Home
  • Terms of Service
  • Privacy Policy
  • Disclaimer
  • Contact Us
Copyright 2025 © All rights reserved | Market Spectator | marketspectator.com