From CNBC:

The world’s top hedge funds had record profits in 2023, with the 20 leading funds making a total of $67 billion in investor profits. The top funds accounted for one-third of annual profits last year, despite managing less than a fifth of the industry’s assets. Among the best performers were TCI, Citadel, and Viking.

TCI, the top ranking fund, recorded investor profits of $12.9 billion and ended last year up 33%, beating the S&P 500’s 24% gain. Citadel, which ranked second in 2023, made $8.1 billion in profits after bringing in a record-breaking $16 billion in 2022.

The top 20 funds, including TCI and Citadel, have made a combined $755.4 billion in profits since inception, well above the $655.5 billion in total managed assets. The leading funds were buoyed by the stock market’s “fantastic run” in 2023, and had proven to showcase especially savvy stock selection strategies.

Hedge funds, which are typically known for investing in higher risk and more non-traditional assets compared to mutual funds, are a limited partnership of private investors whose money is managed by fund managers. These leading hedge funds were buoyed by the stock market’s “fantastic run” in 2023 and many also showcased savvy stock selection strategies. Experts argue that long-biased positions in high-quality stocks have been the way to go.

The research found that the top 20 funds managed by the likes of TCI and Citadel have made a combined $755.4 billion in profits since inception, well above the $655.5 billion in total managed assets. This represents a significant return on investment for investors involved with these top-performing funds.



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