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    • Walleye leads the way in August. Here’s how the biggest funds fared.
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    Walleye leads the way in August. Here’s how the biggest funds fared.

    Vaseline Posted on

    Walleye, with its stock pickers and algorithms, had the best month of the year in a turbulent August.

    A person close to the manager said the firm rose 3.4% in its $4.8 billion multi-strategy fund last month, bringing its gain through 2024 to 11.3%. All four strategies in the fund — fundamental equity, quantitative, volatility and tactical, which includes some macro-like strategies — rose last month, the person said.

    The firm’s volatility strategies, which date back to the company’s roots as a proprietary options market-making operation in Minnesota, played a key role in the fund’s weathering the tough markets in early August, the source added.

    The S&P 500 closed out August up 2.3%, but it was a rollercoaster of a month for stock pickers. The index fell sharply in early August amid turmoil in Japanese markets and investor unease over U.S. economic data; at one point, the index was down more than 7% before closing the month near its all-time high.

    Walleye’s fund was the driving force behind the multi-strategy universe last month, though the firm is much smaller than its biggest rivals. The manager is now closed to new capital commitments and expects to be on $5 billion in the fourth quarter, according to the person close to the firm.

    Schonfeld’s flagship fund continues to outperform other hedge funds in 2024, returning 11.9% so far this year, a person close to the firm told Business Insider. The firm’s smaller Fundamental Equity fund, meanwhile, is up 11.7% for the year after gaining 0.7% in August.

    Meanwhile, Ken Griffin’s flagship fund, Wellington, $63 billion Citadel, rose 1% in August. The gains took the Miami-based firm’s returns to 9.9% for the year, and all five of its main strategies — equities, quant, commodities, credit and macro — are positive for the year.

    The firm’s smaller funds also had strong months. The Tactical Trading fund, which includes strategies from the firm’s stock-picking and quant businesses, returned 1.5% last month, pushing its 2024 return to 14.5%.

    Meanwhile, Citadel’s fund, which combines strategies from its four human-run stock-picking units — Global Equities, Ashler, Surveyor and International Equities — is up 9.3% in the first eight months of 2024, after gaining 0.8% in August.

    Izzy Englander’s Millennium rose 0.7% last month, taking the company’s return for the year to 8.1%.

    ExodusPoint lags the pack, but had a solid August with gains of 0.9% in August. The company is up 4.6% for 2024.

    Managers declined to comment or did not immediately respond to requests for comment.

    See below for performance figures. It will be updated with additional operating figures as they become available.