- 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.
| Fund | May performance | 2026 performance |
| Pinpoint Asset Management | 2.4% | 11.9% |
| Dymon Asia | 2% | 11% |
| Point72 | 2% | 10.5% |
| Millennium | 2.4% | 6.1% |
| Schonfeld Partners | 2.6% | 5.7% |
| North Rock | -0.2% | 5.2% |
| LMR | 2.1% | 4.4% |
| ExodusPoint | 2.4% | 4.1% |
| Verition | 1% | 3.8% |
| Balyasny | 1.4% | 0.6% |
| Walleye | -0.9% | 0.5% |
The post May hedge fund returns: Steve Cohen's Point72 leads the way among the industry's biggest names appeared first on Business Insider
