"Hedge Funds Soar to Record Profits in Global Markets"
The top 20 best-performing hedge funds made $67 billion in gains in 2023, triple the amount reported in 2022, as stock markets surged. This strong performance reflects the growing divide between the industry's top players and others, with the top 20 firms representing 46% of the sector's total lifetime gains despite overseeing just under 19% of the industry's assets under management. TCI, an activist hedge fund, led the pack with $12.9 billion in net gains, while big firms like Bridgewater Associates reported losses. The rally in stock markets has particularly benefited hedge funds making focused bets on individual stocks, with many heavily invested in tech giants like Alphabet, Amazon, and Apple.
- Rising Markets Lift Hedge Funds to Huge Gains The New York Times
- World's largest hedge funds record bumper year of profits, research shows CNBC
- Citadel Resumes Reign as Most-Profitable Hedge Fund Bloomberg Television
- Bill Ackman’s Pershing Square makes list of world’s top hedge funds after falling off 9 years ago New York Post
- Ken Griffin's Memo to Team About Citadel's All-Time Lead Over Peers Business Insider
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