Top 10 US Hedge Funds by Assets Under Management

Bridgewater Associates manages approximately $124 billion in assets, founded by Ray Dalio in 1975 from a two-bedroom New York apartment. Its "All Weather" portfolio strategy pioneered risk-parity investing and is now copied by pension funds managing trillions globally. Dalio's philosophical framework, encapsulated in his "Principles" book, has made Bridgewater as famous for its corporate culture as for its investment returns.

Bridgewater Associates

Millennium Management manages approximately $68 billion in assets under founder Izzy Englander, employing a multi-strategy model with 275+ independent investment teams globally. The firm is renowned for its rigorous risk management, cutting portfolio managers who breach drawdown limits almost without exception. Millennium has delivered positive returns in 27 of its 35 years of operation, a consistency that has made it one of the most sought-after funds for institutional capital.

Millennium Management

Elliott Management manages approximately $65 billion in assets under Paul Singer, one of the most feared activist investors in global finance. The fund famously spent 15 years fighting Argentina over sovereign debt default, ultimately collecting $2.4 billion in a 2016 settlement. Its campaigns against companies like AT&T, Twitter, and Samsung have generated billions in returns while reshaping corporate governance standards.

Elliott Management

Citadel manages approximately $63 billion in assets under Ken Griffin, who started trading from his Harvard dorm room in 1987. The firm's multi-strategy approach delivered a staggering 38% return in 2022 when most funds lost money, generating $16 billion in profits -- the largest single-year gain in hedge fund history. Griffin also runs Citadel Securities, the dominant US market-maker processing 25%+ of all US equity trades.

Citadel

Renaissance Technologies manages approximately $60 billion in assets, founded by mathematician Jim Simons in 1982. Its flagship Medallion Fund has averaged 66% annual returns before fees since 1988, the greatest track record in investment history -- available only to current and former employees. Renaissance pioneered the use of statistical models and machine learning in trading decades before these approaches became mainstream in finance.

Renaissance Technologies

D.E. Shaw manages approximately $60 billion in assets, founded in 1988 by David E. Shaw as one of the original quant funds on Wall Street. The firm employs computational and mathematical strategies across equities, fixed income, and derivatives globally. Amazon founder Jeff Bezos worked at D.E. Shaw as a senior vice president before leaving in 1994 to start Amazon from a garage, reportedly telling Shaw he would "regret it" if he did not pursue the internet opportunity.

D.E. Shaw

Two Sigma manages approximately $60 billion in assets, co-founded in 2001 by John Overdeck and David Siegel after they both worked at D.E. Shaw. The firm applies data science, artificial intelligence, and distributed computing to financial markets and employs over 1,800 people including hundreds of PhDs. Two Sigma is widely regarded as one of the most innovative quantitative investment firms in the world, filing over 200 technology patents.

Two Sigma

Point72 manages approximately $35 billion in assets under Steve Cohen, who was previously forced to convert SAC Capital to a family office in 2014 following a $1.8 billion insider trading settlement. Cohen reopened to outside capital in 2018 with Point72, which has since grown into a multi-strategy platform with offices in New York, London, Hong Kong, and Tokyo. Cohen also owns the New York Mets, having purchased the team for $2.4 billion in 2020.

Point72 Asset Management

Appaloosa Management manages approximately $15 billion in assets under David Tepper, who founded the firm in 1993 after being passed over for partner at Goldman Sachs. Tepper is famous for his prescient 2010 CNBC appearance predicting a market rally, a call so accurate it moved markets and earned him the nickname "the market mover." His distressed debt bet on Bank of America and Citigroup in 2009 earned Appaloosa $7 billion in a single year.

Appaloosa Management

Bridgewater Associates manages approximately $124 billion in assets, founded by Ray Dalio in 1975 from a two-bedroom New York apartment. Its "All Weather" portfolio strategy pioneered risk-parity investing and is now copied by pension funds managing trillions globally. Dalio's philosophical framework, encapsulated in his "Principles" book, has made Bridgewater as famous for its corporate culture as for its investment returns.

Bridgewater Associates

Millennium Management manages approximately $68 billion in assets under founder Izzy Englander, employing a multi-strategy model with 275+ independent investment teams globally. The firm is renowned for its rigorous risk management, cutting portfolio managers who breach drawdown limits almost without exception. Millennium has delivered positive returns in 27 of its 35 years of operation, a consistency that has made it one of the most sought-after funds for institutional capital.

Millennium Management

Elliott Management manages approximately $65 billion in assets under Paul Singer, one of the most feared activist investors in global finance. The fund famously spent 15 years fighting Argentina over sovereign debt default, ultimately collecting $2.4 billion in a 2016 settlement. Its campaigns against companies like AT&T, Twitter, and Samsung have generated billions in returns while reshaping corporate governance standards.

Elliott Management

Citadel manages approximately $63 billion in assets under Ken Griffin, who started trading from his Harvard dorm room in 1987. The firm's multi-strategy approach delivered a staggering 38% return in 2022 when most funds lost money, generating $16 billion in profits -- the largest single-year gain in hedge fund history. Griffin also runs Citadel Securities, the dominant US market-maker processing 25%+ of all US equity trades.

Citadel

Renaissance Technologies manages approximately $60 billion in assets, founded by mathematician Jim Simons in 1982. Its flagship Medallion Fund has averaged 66% annual returns before fees since 1988, the greatest track record in investment history -- available only to current and former employees. Renaissance pioneered the use of statistical models and machine learning in trading decades before these approaches became mainstream in finance.

Renaissance Technologies

D.E. Shaw manages approximately $60 billion in assets, founded in 1988 by David E. Shaw as one of the original quant funds on Wall Street. The firm employs computational and mathematical strategies across equities, fixed income, and derivatives globally. Amazon founder Jeff Bezos worked at D.E. Shaw as a senior vice president before leaving in 1994 to start Amazon from a garage, reportedly telling Shaw he would "regret it" if he did not pursue the internet opportunity.

D.E. Shaw

Two Sigma manages approximately $60 billion in assets, co-founded in 2001 by John Overdeck and David Siegel after they both worked at D.E. Shaw. The firm applies data science, artificial intelligence, and distributed computing to financial markets and employs over 1,800 people including hundreds of PhDs. Two Sigma is widely regarded as one of the most innovative quantitative investment firms in the world, filing over 200 technology patents.

Two Sigma

Point72 manages approximately $35 billion in assets under Steve Cohen, who was previously forced to convert SAC Capital to a family office in 2014 following a $1.8 billion insider trading settlement. Cohen reopened to outside capital in 2018 with Point72, which has since grown into a multi-strategy platform with offices in New York, London, Hong Kong, and Tokyo. Cohen also owns the New York Mets, having purchased the team for $2.4 billion in 2020.

Point72 Asset Management

Appaloosa Management manages approximately $15 billion in assets under David Tepper, who founded the firm in 1993 after being passed over for partner at Goldman Sachs. Tepper is famous for his prescient 2010 CNBC appearance predicting a market rally, a call so accurate it moved markets and earned him the nickname "the market mover." His distressed debt bet on Bank of America and Citigroup in 2009 earned Appaloosa $7 billion in a single year.

Appaloosa Management