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- Ken Griffin’s $71 billion Citadel had a huge July.
- The firm’s outperformance was driven primarily by its purchase of Situational Awareness’s portfolio.
- It was the best single month for its stand-alone stock-picking fund.
Ken Griffin’s investment firm is the most profitable hedge fund in history, has been running for more than 35 years, and has invested in complex situations around the world.
So if the $71 billion firm is setting new records, it’s pretty notable.
Citadel had its best-ever month in its stand-alone stock-picking fund thanks primarily to its deal to purchase a bulk of Situational Awareness’s public portfolio last week. The deal, at a 10% discount, sent the holdings such as CoreWeave, SK Hynix, and Bloom Energy soaring, fueling Citadel’s gains.
In July, the firm’s stock-picking fund was up 14.2%, a record for Griffin’s firm, a person close to the Miami-based manager told Business Insider. On the year, that fund has gained 27%. The firm’s Tactical Trading fund — which blends quant strategies and human stockpickers — is also up 27% on the year through July after a gain of 11.1% last month, the person said.
It’s put Griffin’s fund at the top of the leaderboard amongst its multistrategy peers, many of which lost money in a chaotic July. The firm’s flagship Wellington fund — which includes commodities, macro, fixed income, and credit strategies along with equities and quant — was up 5.9% in July and 12% for the year.
The firm declined to comment.