Hedge Funds Score Record Gains in 2023

Top 20 Firms Triple Previous Year's Profits, Dominating a Third of Industry's Total Gains

The 20 best-performing hedge funds made $67 billion in gains in 2023, triple what they reported in 2022.
TCI Fund Management, run by British billionaire Chris Hohn, topped the list making $12.9 billion for clients.
Citadel, founded by US billionaire Ken Griffin, ranked second, making $8.1 billion.
The top 20 firms oversee less than one-fifth of the industry’s assets, but generated about one-third of the overall $218 billion gained for clients.
The strong performance of the stock market had carried into the new year with the S&P 500 index of leading shares hitting an all-time high.