The doldrums of summer are approaching, but the stock market has continued its hot streak.
The S&P 500 gained another 3.1% in July, amid buoyant earnings and economic expectations and pushed its year-to-date return to nearly 20%.
The world's largest hedge funds, meanwhile, posted more muted gains.
Among its multi-strategy hedge fund peers, Ken Griffin's $59 billion Citadel remains second to none, gaining 1.3% in July in its flagship Wellington fund. It's now up about 8.6% for 2023, according to a person familiar with the matter.
Verition, which is now managing more than $7 billion in assets, had one of the strongest months among multi-strategy funds, returning 1.2% and increasing its full-year performance to 4.1%, according to people familiar with the figures. Multi-strats are named for their expertise in a wide variety of investing strategies.
Here's how other top multi-strategy players stacked up after July:
| Fund | July performance | Year-to-date performance |
| Citadel Wellington | 1.3% | 8.6% |
| Point72 | -0.37% | 5.8% |
| D.E. Shaw Composite Fund | 0.9% | 5.1% |
| Verition | 1.2% | 4.1% |
| Millennium | 0.8% | 3.5% |
| ExodusPoint | 0.8% | 3.0% |
| Boothbay | 0.13% | 2.8% |
| Hudson Bay International Fund | 0.3% | 2.5% |
| Marshall Wace Eureka | 0.3% | 2.2% |
| Balyasny (Atlas Enhanced) | 0.01% | 1.3% |
| Schonfeld Fundamental Equity | 0.40% | Flat |
Representatives for the funds declined to comment.
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