How hedge funds like Citadel, Balyasny, ExodusPoint, and more performed in November
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- Citadel, Balyasny, ExodusPoint, and more all made money in November.
- Big-name funds battled a choppy equities market, though stocks bounced in the second half of the month.
- Many hedge funds outperformed the modest 0.1% gain in November by the S&P 500 index.
Hedge funds’ biggest names had a solid November despite an early-month sell-off of hot tech stocks.
Citadel, Balyasny, and ExodusPoint all made money in the month, people close to the managers told Business Insider.
Miami-based Citadel, run by billionaire Ken Griffin, was up 1.4% in its flagship Wellington fund. The fund has made 8.3% for the year. The manager’s Tactical Trading fund, which combines the firm’s quant and flesh-and-blood stockpickers, is up 16.3% in 2025 after 2.6% gain last month.
The $30 billion Balyasny continued its strong year with a 2.5% gain in November. The manager is now up 15.3% in 2025. ExodusPoint pushed its year-to-date returns to 15.6% with a 1.2% bump in November.
These firms and many other multistrategy managers outperformed the S&P 500 last month; the index gained just 0.1% thanks to an early-month sell-off of tech stocks that was partially reversed by strong earnings from chipmaker Nvidia and solid iPhone sales by Apple.
The index for the year has still made more than 16% in 2025, which is greater than many funds’ year-to-date gains.
The firms below declined to comment. More performance figures will be added to the table and the article as they are learned.
| Fund | November performance | 2025 performance |
| Boothbay | 0.6% | 16.4% |
| AQR Apex | 0.4% | 16.2% |
| Dymon Asia | 1.1% | 16% |
| ExodusPoint | 1.2% | 15.6% |
| Balyasny | 2.5% | 15.3% |
| Walleye | 1.6% | 13.1% |
| Pinpoint Asset Management | -1% | 10.4% |
| Schonfeld Partners | 1.4% | 10% |
| LMR | 1.6% | 8.9% |
| Citadel Wellington | 1.4% | 8.3% |