Point72’s 2% – Steve Cohen’s Point72 recorded a 2% gain in May, bringing its 2026 performance to 10.5% for the year. The broader multistrategy field saw mixed results, with Millennium up 2.4% and Citadel also strong, while some managers—like Walleye and North Rock—posted sma
Steve Cohen’s $50.7 billion hedge fund didn’t roar in May. It climbed—by 2%—and that steady progress is keeping Point72 near the front of the pack.
A person close to the firm said the 2% gain in May puts Cohen’s operation at 10.5% for the year. The momentum matters because it follows an unusually strong 2025: Point72 finished that year with a 17.5% gain. outperforming its main multistrategy rivals in that period. including Millennium and Citadel.
May was broadly kind to the industry’s biggest names, with Millennium up 2.4%. That move takes Millennium’s 2026 gains to 6.1%. Balyasny is also in positive territory for the year after posting a 1.4% gain last month.
Even with these green numbers, the story turns when you look at the benchmark stocks. Equity markets surged in May as investors remained enthusiastic about tech and AI stocks. The S&P 500 ended the month up 11% after posting a more than 5% gain in May. For hedge funds that have to balance risk across strategies. the question many investors are weighing is whether their gains can keep pace when markets run that hard.
Not every manager managed to stay firmly in the black. Walleye posted a small loss in May, down 0.9%, while North Rock declined 0.2% for the month.
The funds listed below declined to comment, and more returns will be added as they are learned.
For this group of top multistrategy managers, the month’s headline is clear: big names posted gains, but the market’s jump—reflected in an S&P 500 that rose 11% for the month—kept pressure on hedge funds to prove they can match momentum when equity enthusiasm is at its peak.
Steve Cohen Point72 hedge fund returns multistrategy May gain S&P 500 Millennium Citadel Balyasny Walleye North Rock
So Cohen up 10.5%?? Meanwhile my 401k is still stuck in 2019 lol.
I don’t get how 2% in May is “near the front” when the S&P was up like 11%. Sounds like they’re barely keeping up? Or am I reading that wrong.
Wait so Point72 is up 10.5% for the year but it says Cohen’s operation didn’t roar in May? That wording is weird. Also I saw something about AI stocks so is this just tech doing the work for them?
Millennium up 2.4% and Citadel strong… but then Walleye down 0.9% and North Rock down 0.2% like ok so why even mention the losses if the headline is wins. Makes me think hedge funds are just copying the S&P when it rips, then acting surprised when it doesn’t.