May hedge fund returns: Steve Cohen's Point72 leads the way among the industry's biggest names
Big-name hedge funds mostly did well in May when equity markets surged.
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- Steve Cohen's $50.7 billion Point72 continued its strong 2026 in May.
- Big-name managers, including Millennium and Balyasny, mostly performed well in May.
- The S&P 500 index climbed more than 5% in May, pushing the year-to-date gains to 11%.
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.
FundMay performance2026 performancePinpoint Asset Management2.4%11.9%Dymon Asia2%11%Point722%10.5%Millennium2.4%6.1%Schonfeld Partners2.6%5.7%North Rock-0.2%5.2%LMR2.1%4.4%ExodusPoint2.4%4.1%Verition1%3.8%Balyasny1.4%0.6%Walleye-0.9%0.5%Read the original article on Business Insider