Hedge Funds Navigate Market Shifts in November

Despite a rough start with tech stocks taking a hit, big names like Citadel, Balyasny, and Point72 still managed to make gains.

Key Performers

• Citadel
• Main Fund (Wellington): +1.4% in November, Yearly Gain: 8.3%

• Tactical Trading Fund: +2.6% in November, Yearly Gain: 16.3%

• Balyasny

• November Gain: 2.5%, Yearly Return: 15.3%

• ExodusPoint

• November Gain: 1.2%, Yearly Return: 15.6%

• Point72

• November Gain: 1.4%, Yearly Return: 15%

• Millennium
• November Gain: 0.5%, Yearly Return: 8.3%
• Note: Some teams focusing on index rebalancing had significant losses.

Market Context

• S&P 500: +0.1% in November, Yearly Gain: Over 16%
• Key Drivers: Early tech stock sell-offs, recovery driven by strong earnings from Nvidia and solid iPhone sales from Apple.

Conclusion

Despite the S&P 500's strong yearly performance, many hedge funds still haven't matched it, highlighting the market's challenges even for the biggest players.