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☆ Citadel's stock-pickers lead the way in April — here's how hedge fund competitors fared
▼ + stars: | 2024-05-02 | by ( Bradley Saacks | Alex Morrell | ) www.businessinsider.com time to read: +1 min

Ken Griffin's $61 billion Citadel is leading multistrat funds in performance this year. The firm's flagship fund returned 2% in April, bringing 2024 gains to 7.8%. Firms such as Walleye, Millennium, and Schonfeld are also off to a strong start this year. Despite equity markets tumbling in April, Ken Griffin's teams of stockpickers helped lead his firm to a 2% return in its $61 billion flagship fund. A person close to Griffin's Citadel told Business Insider that Wellington's year-to-date returns rose to 7.8% following April's gains.

Persons: Ken Griffin's, stockpickers Organizations: Citadel, Walleye, Griffin's Citadel, Business Locations: Miami

☆ Stocks enter 'belief' phase with most investors converted to bulls. What it means going forward
▼ + stars: | 2024-03-02 | by ( Michael Santoli | ) www.cnbc.com time to read: +9 min

The sheer persistence of the equity rally, with the S & P 500 up 16 of 18 weeks and refusing to succumb to supposed late-February seasonal weakness, has converted the cautious. Still, by some lights, stocks' valuation is one of the better sentiment indicators, and by that measure the investment community is pretty enthusiastic. More simply, we continue to see elevated but not alarming P/Es in the S & P 500 broadly while the median P/E of the top 10 names in the index remains close to past peaks." Coming at a time when the S & P 500 is more than 13% above its 200-day moving average — pretty stretched — and we haven't had even a 3% pullback since October. The "right" cyclical sectors are leading (industrials and consumer discretionary in addition to tech), and the equal-weight S & P 500 is nosing toward its old high.

Persons: Scott Rubner, maven, Goldman Sachs, there's, it's, hustled, gunning, BofA's Savita Subramanian, Citi's Scott Chronert, Barclays Venu Krishna, Lori Calvasina, haven't, I've, We've, Stocks, – Organizations: Micro, Dell Technologies, ARM Holdings, Bank of America, Barclays, Big Tech, Tech, Federal, Fed Locations: U.S

☆ Here are Wednesday's biggest analyst calls: Tesla, Nvidia, Arm, Citi, Walmart, First Solar, Ulta, GE & more
▼ + stars: | 2024-02-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

UBS downgrades Waste Management to neutral from buy UBS said the trash company has a "lofty" valuation. Citi reiterates Nvidia as buy Citi said its standing by its buy rating heading into earnings next week. " UBS upgrades HF Sinclair to buy from neutral UBS said the refiner is underappreciated. UBS upgrades Huntington Bancshares to buy from neutral UBS said it sees "strong strategic positioning" for the regional bank. Citi downgrades GlobalFoundries to neutral from buy Citi downgraded the semi company following earnings on Tuesday.

Persons: Wells, Redburn, Morgan Stanley, Tesla, it's, Piper Sandler, Piper, Jane Fraser's, Q, BRKRs, BRKR, DINO, D.A, Davidson downgrades Airbnb, Evercore, GlobalFoundries, Bernstein, Wingstop Organizations: Wells, RBC, Enphase Energy, Shoals Technologies, SolarEdge Technologies, UBS downgrades Waste Management, UBS, Citi, Nvidia, JPMorgan, Sinclair, diesel, Deutsche Bank, General, Deutsche, GE, ABNB, ABNB's, Walmart, ISI, Huntington, HSBC, Palantir, HP, Bank of America, of America, Design Systems, Rivals Locations: EBITDA

☆ Ken Griffin’s Citadel hedge fund rose 1.9% in January as volatility ramped up
▼ + stars: | 2024-02-05 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Billionaire investor Ken Griffin's flagship hedge fund rose last month as volatility made a return amid the debate about rate cuts, according to a person familiar with the returns. All five strategies used in the fund — commodities, equities, fixed income, credit and quantitative — were positive for the month, the person said. The Miami-based firm's tactical trading fund gained 2.6% for the month, while its equities fund, which uses a long/short strategy, returned 2.1%, said the person. Meanwhile, Citadel's global fixed income fund returned 1.7%. The hedge fund giant started 2024 with $56 billion in assets under management.

Persons: Ken Griffin's, Citadel's multistrategy, Jerome Powell, Griffin Organizations: Citadel, Federal, Federal Reserve Locations: Wellington, Miami, U.S

☆ Schonfeld's growing pains: Ryan Tolkin reckons with his greatest challenge yet as returns dry up at the $13 billion hedge fund
▼ + stars: | 2023-08-23 | by ( Alex Morrell | ) www.businessinsider.com time to read: +14 min

When it was raising fresh money from investors in 2020, one slide on the pitch deck for the hedge fund Schonfeld Strategic Advisors got to the heart of the issue: "Why Schonfeld?" A hedge fund recruiterAmid the weakness, the fund has begun to prune costs. Steve Schonfeld (class of 1977) and Brad Tolkin (class of 1976) attended Roslyn High School in Roslyn Heights, New York. Tolkin told Insider in 2019 that the firm's goal was no less than becoming "the premier equities hedge fund globally." While Steven Schonfeld's 20% annual-return goals would've been ambitious for any sizable hedge fund, returns have also lagged behind peers.

Persons: Israel Englander, Ryan Tolkin, Steve Schonfeld, hasn't, It's, Schonfeld, Quita Ramirez, Trina Geatz, who've, Tolkin, Goldman Sachs, Andrew Fishman, Goldman Sachs —, Steven Schonfeld's, Ryan Tolkin's, Brad Tolkin, Brad, Jeff, Alex Morrell Steve, CJ, Sean, Ryan, Brad Tolkin's, Steven Schonfeld, Ryan —, who's, Steve, Michael Gelband, Michael Englander, Izzy Englander's, Steven, Sharpe, Fishman, Michael Nagle, Colin Lancaster, would've, Brevan Howard, ExodusPoint Organizations: Citadel, Duke, Goldman, Long, Newsday, Schonfeld Securities, Roslyn High School, American Express, Cleveland Cavaliers, Jewish, —, Bloomberg, Strategic Partners, Equity, Schonfeld, Nasdaq, Management Locations: Israel, Miami, Stamford , Connecticut, Manhattan, Delta, Duke, Long Island, Roslyn Heights , New York

☆ Here are Monday's biggest analyst calls: Nvidia, Boeing, Alphabet, Okta, Costco, Dick's, Tesla & more
▼ + stars: | 2023-08-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Bank of America reiterates Morgan Stanley as buy Bank of America said the investment bank is "best-in-class." "Initiate at Buy with a Street-high target price of USD72; we like Monster for its market positioning and growth opportunity." "While we turned more optimistic on MOS ahead of this year's crop season, we now see minor downside from current share price levels." Bank of America adds Boeing to the US1 list Bank of America added the stock to its top picks list. Bank of America reiterates Alphabet as buy Bank of America said it remains "constructive" on Alphabet's AI-driven ad products.

Persons: Goldman Sachs, Goldman, Parsons, Tesla, Evercore, Morgan Stanley, it's, JPMorgan, Dick's, Bernstein, Marriott, Telsey, Ulta, Eli Lilly, Stifel Organizations: Teledyne, Bank of America, underperform Bank of America, PSN, U.S, Infrastructure, EU, " Bank of America, Nvidia, HSBC, Barclays, Target, JPMorgan, Hilton, Sports, UBS, Walmart, Base, Costco, Mosaic, Boeing, Boeing Co, Northrop Grumman Corp, Citi, Urban Outfitters Locations: U.S, LLY

☆ Collective embrace of soft landing economic scenario extends 2023 rally after welcome drop in CPI
▼ + stars: | 2023-07-15 | by ( Michael Santoli | ) www.cnbc.com time to read: +6 min

Now, especially after the sturdy June jobs report as week ago and the reassuringly cool CPI print on Wednesday, this is something closer to the prevailing view. The market all year has been acting as if inflation and the Fed's aggressive war against it were mostly 2022 problems. The wobble in early July after a blockbuster ADP employment report sent Treasury yields flying was over in a day. Passing these tests, and now having seen market strength broaden significantly since the end of May, belief is replacing doubt. And last quarter, the S & P went choppily sideways for the first month of reporting season.

Persons: it's, what's Organizations: Federal, Treasury, Investment, National Association of Active Investment, Deutsche, Nasdaq, Bulls, Wall, & $ Locations: what's

☆ How Citadel, Millennium, Point72 and other hedge fund giants stack up as they enter the second half of a challenging year
▼ + stars: | 2023-07-06 | by ( Alex Morrell | ) www.businessinsider.com time to read: +2 min

Hedge funds have reached the halfway point in a challenging year. The first half of 2023 was not how hedge fund managers drew it up. They invested heavily in global macro hiring late last year, expecting plenty more runway in the strategy's revival after a blockbuster 2022. Overall, the hedge fund industry lags far behind, gaining just 1.23% through May, according to the HFRI Fund Weighted Composite Index. Citadel's strength has been one of the few certainties in an otherwise uncertain year for hedge funds.

Persons: Ken Griffin's, Izzy Englander's, Here's, Steve Cohen's Point72 Organizations: Millennium, Suisse, HFRI, Ken Griffin's Citadel, Citadel Wellington, Carlson, Global Locations: Wellington

☆ How Citadel, Millennium, D.E. Shaw, and Other Hedge Funds Fared in May
▼ + stars: | 2023-06-07 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +2 min

This year, it remains the top-performing multistrategy fund, just ahead of Steve Cohen's Point72. Here's how multistrategy hedge fund giants fared in May, from Citadel to Millennium. Billionaire Ken Griffin's Citadel continues to lead the competitive multistrategy hedge fund performance race this year, despite being bested for the month of May by Izzy Englander's hedge fund. Returns are still rolling out, but the major hedge fund players did not see major movements within their flagship funds. In other hedge fund news: London-based hedge fund Marshall Wace's Eureka flagship fund, an equity fund managed by founder Paul Marshall, climbed 1.74% in May and is up 1.70% year to date.

Persons: Ken Griffin's, Steve Cohen's Point72, Ken Griffin's Citadel, Izzy Englander's, Marshall, Paul Marshall Organizations: Millennium, Point72, Wellington, Nvidia, Tactical Trading Locations: Citadel, Wellington, Miami, London

☆ Multi-strategy hedge funds had mixed results for a mad March. Here's how Citadel, Millennium, and Point72 did.
▼ + stars: | 2023-04-04 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +2 min

Multi-strategy hedge funds had a mixed March after the Silicon Valley Bank collapse put markets on edge. The Citadel Wellington fund ended the month up 1.38%, while Steve Cohen's Point72 was up 1.33%. Equities was up 2.16% in March, bringing year-to-date performance to 4.56%. Its global fixed income fund returned 0.12% in March, bringing year-to-date performance to 1.77%. Hedge fund performance figures are still trickling out, but data and reports suggest that trend-following and macro funds were caught out after the banking crisis rocked markets.

☆ Performance for top hedge funds including Citadel, Millennium, Point72 just dropped. An unlikely winner is at the top of the pile.
▼ + stars: | 2023-03-03 | by ( Alex Morrell | ) www.businessinsider.com time to read: +2 min

February performance figures show a mixed-bag at the top multi-strategy hedge funds. Citadel, continuing its winning streak, is up 2.8% so far, while Millennium is up just 0.5%. Some of the largest multi-strategy hedge funds had killer years in 2022 while much of the industry struggled. An unlikely winner is off to a torrid start after a challenging year in 2022: ExodusPoint is up 2.9% through February on the back of a 2% gain during the short month, according to people familiar with the matter. Citadel has continued its winning streak after record-breaking performance in 2022, up 2.8% this year, sources told Insider.

☆ Here are Friday's biggest analyst calls: Tesla, Nvidia, Roku, Coinbase, DraftKings, Disney & more
▼ + stars: | 2023-02-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are the biggest calls on Wall Street on Friday: Compass Point upgrades Coinbase to buy from neutral Compass said the "long-term opportunities outweigh near-term risks." Goldman Sachs reiterates Tesla as buy Goldman said it's bullish heading into the company's investor day on March 1. KeyBanc reiterates Nvidia as overweight KeyBanc raised its price target on the stock to $280 per share from $220. Daiwa reiterates Disney as buy Daiwa said it sees international growth for Disney which will further drive parks outperformance. Evercore ISI adds a positive tactical call on Walmart Evercore said it's bullish on Walmart heading into earnings next week.

☆ Hedge fund returns are rolling in. Here's how industry powerhouses like Citadel, Millennium, and Point72 performed in 2022.
▼ + stars: | 2023-01-06 | by ( Alex Morrell | ) www.businessinsider.com time to read: +2 min

Hedge funds had a dismal year in 2022, but some firms still produced exceptional returns. Ken Griffin's Citadel had record revenues of $28 billion, as well as a 38.1% return from its main fund. Cliff Asness' AQR had a 43.5% return in its oldest fund and record results in 12 other funds, too. 2022 was a dismal year for the hedge fund industry. A few industry stalwarts — AQR, Citadel, and Rokos Capital— had record years.

☆ Wells Fargo issues some top tactical investing ideas for the first quarter
▼ + stars: | 2023-01-04 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

As the first quarter of 2023 kicks off, Wells Fargo has its eye on what it calls stocks that offer tactical trading opportunities. Wells Fargo analyst Daniel Politzer upgraded Wynn to overweight from equal weight on Monday . Merck also made the Wells Fargo list, with the firm setting a price target of $125. And Wells Fargo has a $50 price target for Dynatrace , which implies 30% over Tuesday's close. Wells Fargo believes the software company has the "only enterprise-grade cloud platform capable of supporting modern workloads in a hybrid environment."

☆ Citadel celebrates banner year at Disney as Wall Street nurses losses
▼ + stars: | 2022-12-06 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

NEW YORK, Dec 6 (Reuters) - For much of Wall Street, trading this year has been like riding a wild roller coaster. For thousands of employees of Citadel and Citadel Securities, the hedge fund and trading business founded by Ken Griffin, last weekend was spent riding the real things. This year is shaping up to be a record for Citadel and Citadel Securities, Ahmed confirmed. Across Wall Street, firms are preparing for leaner times by cutting jobs and bonuses, while many Americans are struggling with rising prices for food, gasoline and rents. After the 2008 financial crisis, Wall Street firms that were criticized for their excesses have sometimes shied away from lavish gatherings or held them in private.

☆ Citadel celebrates banner year at Disney while Wall Street nurses losses
▼ + stars: | 2022-12-06 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

NEW YORK, Dec 6 (Reuters) - For much of Wall Street, trading this year has been akin to riding a wild roller coaster. This year is shaping up to be a record for Citadel and Citadel Securities, the spokesman confirmed. The Citadel Global Fixed Income Fund is up 28.1% for the year, while Citadel Tactical Trading is up 22.4% and Citadel Equities Fund is up 17.8%, an investor said. Across Wall Street, firms are preparing for leaner times by cutting jobs and bonuses. After the 2008 financial crisis, Wall Street firms that were criticized for their excesses have sometimes shied away from lavish gatherings or held them in private.

☆ Ken Griffin’s hedge fund Citadel rises again in November, bringing 2022 gains to 32%
▼ + stars: | 2022-12-06 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Billionaire investor Ken Griffin's hedge fund climbed again last month, lifting its year-to-date gain to almost 32%, according to a person familiar with the returns. Citadel's multi-strategy flagship fund Wellington rallied 0.9% last month, bringing its 2022 performance to 31.8%, the person said. All five core strategies in the fund — commodities, fixed income and macro, equities, quant and credit — were positive year to date, the person said. Other than the flagship fund, Citadel's global fixed income fund, tactical trading fund and equities fund are all up by double digits this year, the person said. The wider stock market suffered a tumultuous meltdown this year with the S & P 500 falling into a bear market.

☆ Here are Thursday's biggest analyst calls: Apple, Tesla, Meta, Alphabet, GM, Walmart, Coinbase & more
▼ + stars: | 2022-11-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Thursday's biggest calls on Wall Street: JPMorgan downgrades Roblox to neutral from overweight JPMorgan downgraded the stock after Roblox's earnings report, noting it now sees "modest" sales growth. Bank of America downgrades Silvergate to neutral from buy Bank of America said that Silvergate is losing it's first mover advantage. Bank of America downgrades Upstart to underperform from neutral Bank of America downgraded the consumer lending company and cited a tough macro environment. JPMorgan downgrades Vacasa to neutral from overweight JPMorgan said in its downgrade of the vacation booking company that trends appear soft. Bank of America reiterates Meta as neutral Bank of America said it's encouraged by the new "cost focus" at Meta as the company cuts jobs.

☆ Billionaire Ken Griffin's Citadel is surpassing other multi-strategy hedge funds with double-digit returns this year. Here's how these funds did in October.
▼ + stars: | 2022-11-03 | by ( Alyson Velati | ) www.businessinsider.com time to read: +2 min

Performance at rivals like Millennium, DE Shaw, and Balyasny fell behind. Billionaire Ken Griffin's Citadel outpaced its rivals with a 1.52% gain in October, increasing the year-to-date performance to 30.7% and topping returns at rivals like Millennium, DE Shaw, and Balyasny, according to investor figures seen by Insider. Citadel Equities was up 0.6% in October, bringing year-to-date performance to 17.4%. DE Shaw saw a 1.6% jump through the month ending October and was up 22.6% year-to-date. ExodusPoint slightly jumped 0.5% in October and was up 4.5% year-to-date, according to a source familiar with the firm's performance.

☆ $14 billion Schonfeld is launching a new credit unit as the hedge fund continues its growth tear
▼ + stars: | 2022-10-28 | by ( Alyson Velati | ) www.businessinsider.com time to read: +3 min

$14 billion Schonfeld Strategic Advisors has rolled out a credit unit within its new macro trading business that launched earlier this year. Silverman and Aubrey joined in July and August, respectively, following Anchorage shutting its $7.4 billion hedge fund last December. The expanding credit business is part of Schonfeld's recent growth tear. In January, the firm is rolling out long/short credit strategies across the credit quality spectrum in the US and plans to add APAC and EMEA strategies over time. The HFRI Asset Weighted Index gained 1.1% for September, increasing the year-to-date return to 3.8%, according to Hedge Fund Research data.

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