February hedge fund returns: Citadel, ExodusPoint churn out gains for the month

• Big-name funds such as Citadel, ExodusPoint, and more notched gains last month.
• It was another big month for Asia-based funds, including $6 billion Dymon Asia.
• Hedge funds were largely positive last month despite the S&P 500 index recording a loss in February.

Ken Griffin's Citadel performed across the board in February.

The firm's five strategies that feed into its flagship Wellington fund — fundamental equity, quant, commodities, fixed income and macro, and credit and convertibles — were all up last month, a person close to the Miami-based manager told Business Insider.

The fund was up 1.9% on the month, bringing its 2026 gains to 2.9%.

The firm, which managed $66 billion at the start of February, notched gains of 1.5% in February in its tactical trading fund, which blends the firm's fundamental stockpickers with its computer-run equity portfolios.

Michael Gelband's ExodusPoint, which had its best year on record in 2025, was up 0.9% last month, a person close to the New York-based firm said. The manager is now up 2.6% for 2026.

It was another banner month for Asia-based multistrategy funds. $6 billion Dymon Asia made nearly 5% in February, bringing its 2026 gains to more than 10%, while Pinpoint Asset Management is up 6.6% for the year in its flagship fund.

The stock market was down on the month, as the S&P 500 index gave back some of the gains it had notched in January. The broad sell-off in software stocks, driven by AI releases, hurt blue-chip companies like Salesforce.

This month has already been volatile thanks to the strikes against Iran by the US and Israel on Saturday. Oil prices have surged, and stocks tumbled on Monday.

Firms mentioned in the story and the table below declined to comment. Performance figures will be added to the article and table as they are learned.