Major Hedge Fund Strategies Overview | Generated by AI
Overview of Hedge Fund Strategies
Below is a summary of the key investment strategies, focuses, and approximate assets under management (AUM) for the hedge funds mentioned in the prior lists. These are multi-billion-dollar firms specializing in alternative investments, often using sophisticated models to generate returns uncorrelated with traditional markets. Strategies range from quantitative and multi-strategy approaches to macro bets and activist equity plays. Data is drawn from mid-2025 figures where available.
| Hedge Fund | Key Strategies & Focus | Approx. AUM (2025) | Notes |
|---|---|---|---|
| Citadel (Ken Griffin) | Multi-strategy across commodities, equities, fixed income, credit, and quantitative; flagship Wellington fund targets broad opportunities with lower-risk profiles. | $68B (hedge) / $339B (total) | Consistent double-digit returns; 15.1% in 2024; tech-driven with global teams. |
| Appaloosa Management (David Tepper) | Opportunistic equity bets, event-driven, and macro; heavy exposure to China (e.g., Alibaba, JD.com) and “Magnificent Seven” tech stocks like Amazon, Meta. | $17B | Eclectic style with concentrated positions; 8.25% return in 2024. |
| Point72 (Steve Cohen) | Multi-manager platform with long-short equities (core), systematic/quant trading, global macro, and venture capital; emphasizes consistent gains via large analyst teams. | $40B / $140B (total) | 19% return in 2024; expanding into AI and private markets. |
| Millennium Management (Israel Englander) | Multi-strategy with 330+ teams in relative-value equity, arbitrage, fixed income, and quant; strict risk management and pod structure for steady returns. | $78B / $391B (total) | Only one down year since 1989; 15% return in 2024. |
| Bridgewater Associates (Ray Dalio) | Global macro and risk-parity; focuses on uncorrelated returns across economic regimes using systematic portfolio construction. | $92B / $197B (total) | Pure Alpha fund up 11.3% in 2024; leadership transition ongoing. |
| Pershing Square (Bill Ackman) | Concentrated long equity with activist campaigns; targets undervalued companies for transformation (e.g., Uber, Alphabet, Chipotle). | $20B | 10.2% return in 2024; high-conviction, low-turnover portfolio. |
| Caxton Associates (Bruce Kovner) | Originally macro-focused on currencies and rates; now family office emphasizing biotech/life sciences investments (e.g., Kriya Therapeutics). | Not specified (family office) | Caxton Macro fund gained 13.5% in H1 2025 on European defense exposure. |
| D.E. Shaw (David Shaw) | Quant and multi-strategy blending computational models with fundamental/macro; funds like Oculus (macro) and Composite (broad quant). | $70B / $109B (total) | 18-36% returns in 2024; tech-heavy with executive committee oversight. |
| Tudor Investment Corp. (Paul Tudor Jones) | Global macro with bets on rates, currencies, and themes like AI risks/unemployment; cautious on overheated markets. | $17B | 6.5% gain in 2024; trend-following roots. |
| Two Sigma (John Overdeck & David Siegel) | Quantitative multi-strategy using machine learning and data science for equities, macro, and alternatives. | $60B / $71B (total) | Tech-powered; co-founder tensions but strong industry position. |
| Coatue Management (Philippe Laffont) | Long-short equity focused on tech/AI innovators (e.g., Meta, Nvidia); growing private markets and VC with 43 new deals in 2024. | Not specified | 18.7% return in 2024; 9% YTD 2025. |
| Rokos Capital Management (Chris Rokos) | Macro with leveraged bets on rates, currencies, commodities (e.g., copper), and themes like Trump trade (USD, bitcoin longs). | $17B | 30.7% return in 2024; up 0.57% early 2025. |
| Tiger Global (Chase Coleman) | Long-short and long-only equity with buy-and-hold on tech (Magnificent Seven ~50% of longs); plus private equity/VC. | Not specified | 23.8% in long-short fund (2024); lagging some peers in 2025. |
| TCI Fund Management (Chris Hohn) | Concentrated long equity (10-15 holdings) with activist pushes; focuses on industrial/financials like GE, Moody’s. | $44B (U.S. equities) | 15% return in 2024; low-turnover. |
| Lone Pine Capital (Stephen Mandel Jr.) | Tech-driven long-short and long-only; heavy Magnificent Seven exposure (Meta, Amazon, TSMC). | $17B | 36% return in 2024; 16% H1 2025. |
| Elliott Management (Paul Singer) | Activist investing, distressed debt, and event-driven across equities and credit; targets corporate governance changes. | $76B / $93B (total) | Known for high-profile campaigns; steady growth. |
| Man Group (Luke Ellis) | Systematic/quant equity with long-short, machine learning, and alternatives; expanding into private markets and lending. | $78B / $152B (total) | Long history; focuses on data-driven alpha. |
| AQR Capital Management (Cliff Asness) | Systematic quant strategies based on factors, behavioral finance, and risk premia; multi-asset including equities and alternatives. | ~$100B+ (total) / $120B | Research-heavy; applies disciplined models across styles. |
These firms often overlap in multi-strategy elements but differentiate via scale, tech, or niche expertise. Performance varies with market conditions, like AI/tech rallies boosting equity-focused funds in 2024-2025.
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