Here's how hedge funds like Citadel, Point72, and Balyasny performed in January

• The industry's biggest hedge funds posted gains last month.
• Point72 started the year strong, as did Asia-based funds.
• The S&P 500 index hit record highs in January, though it gave back some gains at the end of the month.

The biggest hedge funds in the $5 trillion industry started 2026 in the black, for the most part.

Steve Cohen's $45.7 billion Point72 started the year strong with a 2.9% gain, a person close to the firm said.

Ken Griffin's $65 billion Citadel returned 1% in its flagship Wellington fund in January, a person close to the Miami-based firm told Business Insider. Schonfeld also returned 1% in its flagship Partners fund last month, a person close to the firm said. Michael Gelband's ExodusPoint, which had its best year in 2025, was up 1.8% in January, a person close to the manager said.

Multistrategy funds place bets across a diversified set of strategies to generate strong returns for investors. However, a trend started in 2025 seems to be continuing for some big names: Citadel and Schonfeld's smaller funds outperformed their broader flagship offerings.

Citadel's Tactical Trading fund, which blends its fundamental stockpicking strategies with its computer-run ones, was up 2% in January, a strong showing given the choppy start to the year quant funds have faced. The firm's fixed-income-only fund was up 1.3%, the person close to the manager said.

Schonfeld's Fundamental Equity fund was up 2.4% in January, and LMR's convertibles-focused fund posted a 2.5% gain last month, people close to the two managers told Business Insider. Boothbay's high-octane offering made 1.5% in January, while its flagship returned 1.3%, a person close to the New York-based firm said.

The S&P 500 index was up 1.4% last month, hitting all-time highs in the middle of January, before dipping slightly before the month's end.

A bright spot in the industry was strategies focused on Asian markets. Two Asia-based multistrategy managers, $5 billion Dymon Asia and $3 billion Pinpoint Asset Management, had banner months, returning 5% and 4.8%, respectively.

For Pinpoint, it was the best monthly return since July 2020, a person close to the manager told Business Insider. Dymon Asia's returns were driven by Asian equities and FX strategies, a senior executive at the firm told Business Insider.

The firms mentioned declined to comment.

(Editor's note: This story was originally published on February 2 at 12:33 p.m. New figures have been added to the table below as they have been learned.)

Fund	January performance	2025 performance
Dymon Asia	5%	18%
Pinpoint Asset Management	4.8%	11.6%
Point72	2.9%	17.5%
ExodusPoint	1.8%	18%
Verition	1.5%	7.5%
Boothbay	1.3%	18.1%
Schonfeld Partners	1%	12.5%
Citadel Wellington	1%	10.2%
Balyasny	0.9%	16.7%
LMR	0.7%	12.7%