In 2023, Citadel, the hedge fund founded by Ken Griffin, achieves double-digit returns, but falls short of the S&P 500's performance.

• Despite posting double-digit returns for 2023, Ken Griffin's hedge fund strategies at Citadel did not outperform the broader market.
• According to a source, the Citadel's multistrategy Wellington fund experienced a 15.3% increase in returns last year.
• According to research firm HFR, hedge funds on average gained approximately 4.4% through November in 2023.

Despite posting double-digit returns for 2023, Ken Griffin's hedge fund strategies at Citadel failed to surpass the S&P 500.

The Wellington fund managed by Citadel gained 15.3% in returns last year, according to a source. In 2022, the flagship fund experienced a remarkable 38% increase, marking its best year ever.

In 2023, Citadel's tactical trading fund gained 14.8%, while its equities fund, which employs a long/short strategy, returned 11.6%, according to an anonymous source. Meanwhile, the global fixed income fund of Citadel returned 10.9% last year, as stated by the same source.

Despite facing challenges such as a regional banking crisis, wars in Ukraine and the Middle East, the stock market experienced a 24% climb in 2023. The market was boosted by a relief rally as the economy remained resilient and inflation cooled, while the Federal Reserve signaled an end to rate hikes and forecast rate cuts later this year.

Despite the challenging macro environment, hedge funds on average gained 4.4% through November 2023, according to HFR research.

The financial giant, with $58 billion in assets under management, is returning all of 2023's $7 billion in profits to investors and has handed back about $25 billion to investors since 2018.

Citadel declined to comment.