"Hedge Fund Giants Reap Record Profits Amid Share Price Surge"

The world's top 20 hedge funds saw record profits of $67 billion in 2023, surpassing the pandemic-era rally of 2021, with the industry as a whole recording gains of $218 billion after fees. The leading funds, including TCI, Citadel, and Viking, accounted for one-third of the annual profits despite managing less than a fifth of the industry's assets. Buoyed by the stock market's strong performance, these funds showcased savvy stock selection strategies, with TCI leading the pack with $12.9 billion in profits and a 33% gain in 2023, while Citadel made $8.1 billion in profits and holds the title of the most successful hedge fund in history with $74 billion in gains since inception.