Big hedge funds saw gains in November, outperforming the average with technology stocks driving growth.

From Investing.com: 2024-12-02 17:36:31

Several multibillion-dollar hedge funds saw gains in November, benefiting from the volatility around the U.S. presidential election. Global hedge funds posted a 1.46% gain last month, with some outperforming the average. Technology-focused SoMa Equity Partners soared 9.5%, while macro hedge fund Discovery Capital jumped 14.5%. Cinctive Capital gained 5.1% driven by various sectors.

Notable contributors to SoMa’s performance were WIX, up 32%, and Datadog and Shopify, up 22% and 44.5% respectively. Discovery Capital, founded by Rob Citrone, is known for its macro bets. Citrone, a “Tiger cub” from Tiger Management, is up 46.5% this year. Cinctive Capital with $3 billion in assets jumped 5.1% last month.

Ken Griffin’s Citadel and Schonfeld both gained 1.8% in their flagship multi-strategy funds Wellington and Strategic Partners. The Winton Fund gained 0.3% in November. Overall, hedge funds posted gains despite election uncertainty, with some outperforming by a significant margin.



Read more at Investing.com: Big hedge funds score November gains with Trump election By Reuters