Will Citadel defy a sluggish year for commodities trading?

Citadel defies commodities slump to rack up $4 billion in gains Sridhar Natarajan Mon, Dec 2, 2024, 12:55 PM2 min read (Bloomberg) — Ken Griffin’s Citadel is on track to defy a sluggish year for commodities trading across Wall Street, burnishing the hedge fund’s image as a dominant force in the asset class.

What's going on with Citadel?

The slowdown is taking a toll on firms such as Glencore Plc and Gunvor Group, as well as hedge fund boss Pierre Andurand, who ditched oil trades earlier this year for bets on copper and cocoa. The profits at Citadel’s commodities unit extend its positive run. It generated more than $4 billion last year and roughly double that amount in 2022.

How much money does Citadel make a year?

Citadel’s commodities business generated about $4 billion of profit this year, driven by natural gas trading, according to people familiar with the matter. That puts it on track to rival last year’s performance. The firm’s flagship Wellington fund gained about 13.2% this year through November.