Hedge Funds
Citadel's Wellington gains 1.7% in October as Millennium, ExodusPoint and Dymon slip
Only Citadel's flagship rose among the multistrategy funds tracked as tech and rates volatility hit pod shops.
HedgeWeekly Hedge Fund Desk ·
Citadel's Wellington fund rose 1.7% in October, lifting its 2026 gain to 15.3%, making it the only fund to advance in a group of multistrategy peers whose figures were reported this week.
Millennium Management's flagship fell 2.3% in the month, as did North Rock Capital. ExodusPoint Capital Management lost 2.4% and Dymon Asia's multistrategy fund lost 1.8%, according to the reports. TokenPost put Millennium's year-to-date return at 5.7% and ExodusPoint's at 1.6%, so each remains positive for 2026.
Hedgeweek, citing Bloomberg, linked the month's pressure to a technology sell-off, bond market volatility and election-related currency swings, including moves after Brazil's presidential result. JPMorgan's positioning team called October an exceptionally challenging period for hedge funds.
The spread between Wellington and its peers matters for allocators comparing platforms: with several large funds still holding year-to-date gains but trailing Citadel by a wide margin, October offers a reference point for how each manages risk when equity and rates shocks coincide.