CEO of Citadel Ken Griffin is interviewed Chairman of the Milken Institute Michael Milken (not pictured) during the Milken Institute Global Conference 2025 in Beverly Hills, California, U.S., May 7, 2025.
Mike Blake | Reuters
Ken Griffin’s Citadel posted positive returns across its various hedge fund strategies in the first half of 2026, led by double-digit gains in its tactical trading and equities funds.
The hedge fund firm’s tactical trading fund, which combines discretionary equity investing with quantitative strategies, climbed 14.3% through the end of June after gaining 3.1% in June alone, according to a person familiar Citadel’s returns who asked not to be identified because the information is private.
Citadel’s tactical trading fund also weathered a late-June shakeout in quantitative investing. Quantitative investing relies on mathematical models, statistical analysis, machine learning and algorithms to identify investment opportunities, build portfolios and manage risk.
Earlier this week, Goldman Sachs’ prime brokerage unit told clients that between June 23 and Monday, systematic long-short strategies had just suffered their worst five-day stretch since December 2023, hurt largely by the unwinding of crowded trades and momentum positions on the short side.
Citadel’s tactical trading strategy avoided that latest sell-off, the person familiar said.
Citadel’s equities fund returned 11.2% in the first half after rising 3.5% in June, while its flagship multistrategy Wellington fund, the firm’s largest, gained 5.7% through the end of June following a 1.8% advance in June, the person said.
The firm’s global fixed income fund rose 1.7% in June, leaving it little changed for the year.
Citadel’s gains came during a volatile first half for financial markets. The S&P 500 climbed 9.6% through June, with the benchmark rebounding to fresh record highs after sliding for five straight weeks in February and March.
Investors first grappled with spikes in oil prices during the Iran conflict, questions over whether massive artificial intelligence spending will be sustained and shifting expectations for Federal Reserve policy, before the rally recently broadened out beyond just the largest technology stocks.
Citadel managed about $69 billion in assets as of June 1.
Citadel declined to comment.
