A Wall Street sign outside the New York Stock Exchange in New York, New York, U.S., October 2, 2020. REUTERS/Carlo Allegri

NEW YORK, June 6 (Reuters) – Hedge funds AQR and Citadel posted gains in their flagship portfolios last month that outpaced double-digit losses in the broader stock market.

Citadel’s Wellington multi-strategy fund rose slightly in May and is now posting 13% gains for the year.

Ken Griffin’s Citadel told investors the fund edged up 0.23% in May when the S&P 500 Index (.SPX) stabilized. May’s slight increase follows a more robust gain of 7.45% in April, when the S&P fell almost 9%.

The S&P was down 13.3% in the first five months of 2022.

Citadel Equities is up 6.46% for the first five months of the year, while the firm’s Global Fixed Income fund is up 14.35% and its Tactical Trading portfolio is up 9.85% since January, Griffin said.

A spokesperson for the firm declined to comment further.

Citadel manages $51 billion in assets and its earnings put the company’s portfolios in stark contrast to those of many other hedge funds, including Tiger Global – one of the biggest companies in the industry. Read more

AQR’s absolute return is up 43.3% on the year, posting a 5.5% gain last month, as the fund benefited from the current macro environment.

The company’s Equity Market Neutral hedge fund comfortably beat the S&P in May, up 13.2% in the month. Its return over the year is positive at 52.5%. AQR has $117 billion in assets under management.

The HFRX Equity Hedge Index fell 3.31% in the first five months of 2022, according to data provider Hedge Fund Research.

Reporting by Svea Herbst-Bayliss and Carolina Mandl; Editing by Emelia Sithole-Matarise, Bernard Orr

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