Steve Cohen’s $50.7 billion hedge fund has continued its strong run of returns with a 2% gain in May, a person close to the firm tells Business Insider.
That gain puts Cohen’s firm at 10.5% for the year, following a 17.5% gain in 2025, when the manager outperformed its main rivals in the multistrategy space, namely Millennium and Citadel.
May was generally good for big-name managers, people close to the firms told Business Insider. Millennium was up 2.4%, pushing its 2026 gains to 6.1%. Balyasny is now positive for the year thanks to a 1.4% gain last month.
Still, funds struggled to keep pace with equity markets, which surged in May thanks to continued enthusiasm for tech and AI stocks. The S&P 500 index ended last month up 11% after a more than 5% gain in May.
A few managers lost money for the month. Walleye and North Rock both posted small losses — 0.9% and 0.2%, respectively — in May.
The funds listed below declined to comment. More returns will be added as they are learned.