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Ken Griffin’s hedge fund Citadel is up again in 2023 following a record year

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Billionaire investor Ken Griffin's flagship hedge fund matched the broader market's performance in the beginning of 2023 following a record year, according to a person familiar with the returns.

Citadel's multi-strategy flagship Wellington fund gained 0.7% last month, bringing its 2023 performance to 2.8% through February, the person said.

The S&P 500 lost 2.6% in February, but is still up 3.4% this year through the end of last month. The stock market staged a rebound in 2023, led by beaten-down tech shares, as investors bet that the worst of the Federal Reserve's tightening cycle is over.

But some big name investors like Greenlight's David Einhorn believe that stocks have more room to fall. This year's gain comes after a stellar year for the hedge fund, which soared 38% in 2022, marking the firm's best year ever and outperforming its largest competitor, Millennium, by more than 3 to 1.

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