Top 50 Commodity Hedge Funds 2026
The 50 largest Commodity Hedge Funds manage approximately $1.69 trillion in combined assets as of 2026, up 16.9% from 2025. The ten largest funds alone account for approximately $1.07 trillion of that total.
Ares Management leads the rankings at $319B in AUM, based in Los Angeles. Alphadyne Asset Management ranks second at $147B, followed by Two Sigma Investments at $110B.
United States is the most represented location with 74% of the top 50 funds and 96% of total assets under management.
There are 2 new entrants to the top 50 in 2026 and 2 funds that dropped off compared to 2025.
Total AUM — Top 50 Commodity Hedge Funds 2026
Country Distribution
This ranking shows the top managers by AUM. The complete Commodity Hedge Fund List covers every fund with verified emails, AUM, and 40 data fields — Excel/CSV, one-time purchase with 12 months of updates.
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Ranked by assets under management (AUM). Click any column to sort. Fund names link to detailed profiles.
| Rank | Δ | Fund Name | City | Country | AUM ($M) |
|---|---|---|---|---|---|
| 1 | — | Ares Management | Los Angeles | United States | 318,747.7 |
| 2 | — | Alphadyne Asset Management | New York | United States | 147,366.2 |
| 3 | — | Two Sigma Investments | New York | United States | 110,281.1 |
| 4 | — | Angelo Gordon & Co. | New York | United States | 100,050.7 |
| 5 | ▴4 | Lighthouse Investment Partners | Palm Beach Gardens | United States | 85,747.9 |
| 6 | — | Bracebridge Capital | Boston | United States | 84,739.2 |
| 7 | ▾2 | AQR Capital Management | Greenwich | United States | 83,848.2 |
| 8 | ▾1 | Tudor Investment Corporation | Stamford | United States | 83,565.5 |
| 9 | ▾1 | Brevan Howard Asset Management | London | United Kingdom | 58,630.0 |
| 10 | — | Och-Ziff Capital Management | New York | United States | 44,025.8 |
| 11 | — | Centerbridge Partners LP | New York | United States | 37,035.7 |
| 12 | — | BlackRock Alternative Advisors | New York | United States | 33,250.0 |
| 13 | — | Apollo Capital | New York | United States | 32,680.0 |
| 14 | ▴1 | King Street Capital Management | New York | United States | 32,316.1 |
| 15 | ▾1 | Paskewitz Asset Management | Edison | United States | 31,844.4 |
| 16 | ▴1 | Alyeska Investment Group | Chicago | United States | 31,652.2 |
| 17 | ▴3 | Graham Capital Management | Rowayton | United States | 28,538.3 |
| 18 | ▾2 | Wellington Management Company LLP | Boston | United States | 27,210.0 |
| 19 | ▾1 | Magnetar Capital | Evanston | United States | 24,950.4 |
| 20 | ▴10 | Pine River Capital Management | Minnetonka | United States | 24,052.6 |
| 21 | — | Brigade Capital Management | New York | United States | 20,342.1 |
| 22 | ▾3 | Grantham, Mayo, Van Otterloo & Co. | Boston | United States | 18,960.0 |
| 23 | ▴2 | Systematica Investments | London | United Kingdom | 15,125.2 |
| 24 | — | Brummer and Partners | Stockholm | Sweden | 14,200.0 |
| 25 | ▴2 | Macquarie | Sydney | Australia | 13,850.4 |
| 26 | — | Canyon Partners | Los Angeles | United States | 13,544.9 |
| 27 | ▴2 | Abrams Capital | Boston | United States | 12,962.8 |
| 28 | — | Capital Fund Management | New York | United States | 11,997.2 |
| 29 | ▾6 | Nephila Capital | Larkspur | United States | 11,416.8 |
| 30 | ▴10 | Weiss Asset Management | Boston | United States | 10,675.4 |
| 31 | ▴3 | ArcLight Capital Partners | Boston | United States | 9,485.1 |
| 32 | ▴4 | PointState Capital | New York | United States | 9,399.1 |
| 33 | ▾2 | Transtrend | Rotterdam | Netherlands | 9,040.0 |
| 34 | ▾2 | BlueCrest Capital Management | London | United Kingdom | 9,000.0 |
| 35 | ▴9 | Winton Capital Management | London | United Kingdom | 8,666.9 |
| 36 | ▾3 | Taconic Capital Advisors | New York | United States | 8,065.2 |
| 37 | ▴2 | Harbert Management Corporation | Birmingham | United States | 7,840.9 |
| 38 | ▾1 | Highbridge Capital Management | New York | United States | 7,463.6 |
| 39 | ▾1 | Blue Mountain Capital Partners | London | United Kingdom | 7,100.0 |
| 40 | ▾5 | Avenue Capital Group | New York | United States | 6,405.8 |
| 41 | — | SPX Capital | Rio de Janeiro | Brazil | 6,150.0 |
| 42 | — | Stone Milliner Asset Management | London | United Kingdom | 5,380.0 |
| 43 | — | Dymon Asia | Singapore | Singapore | 5,200.0 |
| 44 | ▴4 | Hancock Timber Resource Group | Boston | United States | 3,669.0 |
| 45 | ▴1 | Acadian Asset Management | Boston | United States | 3,600.0 |
| 46 | ▾1 | Wimmer Horizon | London | United Kingdom | 3,480.6 |
| 47 | — | Aspect Capital | London | United Kingdom | 3,470.0 |
| 48 | ▴2 | Electron Capital Management | New York | United States | 3,412.0 |
| 49 | NEW | Alder Capital | Del Mar | United States | 3,057.9 |
| 50 | NEW | Rimrock Capital Management | Irvine | United States | 3,057.8 |
Top 10 Funds — AUM Comparison ($B)
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🔺 Biggest AUM Gainers
| Fund | $ Change | % Change |
| Ares Management | +$37.3B | +13.3% |
| Alphadyne Asset Management | +$32.1B | +27.8% |
| Lighthouse Investment Partners | +$31.7B | +58.6% |
| Two Sigma Investments | +$26.3B | +31.4% |
| Tudor Investment Corporation | +$20.0B | +31.4% |
🆕 New Entrants
| Rank | Fund | AUM |
| #49 | Alder Capital | $3,058M |
| #50 | Rimrock Capital Management | $3,058M |
📉 Dropped from List
| Gladius Capital Management LLC |
| Sprott Asset Management |
📊 Fastest Growing (%)
| Pine River Capital Management | +147.5% |
| Winton Capital Management | +94.4% |
| Weiss Asset Management | +60.3% |
| Lighthouse Investment Partners | +58.6% |
| Graham Capital Management | +53.1% |
Key Statistics
- 37 of the top 50 are based in United States (74%)
- 8 of the top 50 are based in United Kingdom (16%)
- 1 of the top 50 are based in Sweden (2%)
- 1 of the top 50 are based in Australia (2%)
- 1 of the top 50 are based in Netherlands (2%)
- The top 50 funds manage $1.69 trillion in combined AUM
- The top 10 funds alone manage $1.12 trillion — 66% of the total
- Average AUM of the top 50 is $33.7 billion
- Median AUM is $13.5 billion
- Combined AUM increased 16.9% from 2025
Geographic Distribution Trends
| Country | 2024 | 2025 | 2026 | YoY Δ |
|---|---|---|---|---|
| United States | 39 | 36 | 37 | +1 |
| United Kingdom | 5 | 8 | 8 | — |
| Australia | 0 | 1 | 1 | — |
| Brazil | 1 | 1 | 1 | — |
| Netherlands | 1 | 1 | 1 | — |
| Singapore | 0 | 1 | 1 | — |
| Sweden | 1 | 1 | 1 | — |
Frequently Asked Questions
What is the largest Commodity Hedge Fund?
As of 2026, Ares Management is the largest with approximately $319B in assets under management, based in Los Angeles.
How much do the top 50 Commodity Hedge Funds manage?
The 50 largest collectively manage approximately $1.69 trillion in AUM as of 2026, an increase of 16.9% from the prior year.
Which location has the most Commodity Hedge Funds?
United States is home to 74% of the top 50 Commodity Hedge Funds, making it the most represented location.
