Top 25 Largest Commodity Hedge Funds – 2021
The 25 largest commodity hedge funds manage $732 billion in assets as of early 2021. 88% of the top commodity hedge funds are based in the United States. 40% of the largest commodity funds are based in New York.
With $99 billion in AUM, Ares Management is the largest commodity hedge fund manager in 2021. Graham Capital Management and Lighthouse Investment Partners rank two and three, respectively, among the biggest commodity hedge funds.
Commodity hedge funds invest in a variety of different commodity products from food and agriculture to oil and gas as well as precious metals. Commodity funds use a number of financial instruments including futures, options, debt, and equity.
The below list of top commodity hedge funds includes hedge fund companies operating at least one hedge fund vehicle investing in commodities.
The top 25 commodity hedge fund companies have $732.1 billion USD in assets under management (AUM)
Top 25 Largest Commodity Hedge Funds – 2021
Ranked by assets under management (AUM). Click any column to sort. Fund names link to detailed profiles.
| Rank | Fund Name | City | Country | AUM | Strategy |
|---|---|---|---|---|---|
| 1.0 | Ares Management | Los Angeles | United States | 99,062.0 | Managed Futures, Fixed Income, Consumer Products |
| 2.0 | Elliott Management | New York | United States | 73,511.3 | Global Equity, Credit, Event Driven, Commodities |
| 3.0 | Brevan Howard Asset Management | London | United Kingdom | 58,630.0 | Global Macro, Commodities |
| 4.0 | Angelo Gordon & Co. | New York | United States | 56,276.9 | Real Estate, Fixed Income, Managed Futures, Multi Strategy |
| 5.0 | Lighthouse Investment Partners | Palm Beach Gardens | United States | 45,574.5 | Fund of Funds, Long/Short, Managed Futures |
| 6.0 | Bracebridge Capital | Boston | United States | 36,808.8 | Absolute Returns, Commodities, Credit |
| 7.0 | Graham Capital Management | Rowayton | United States | 34,619.0 | Global Macro, Commodities, Energy |
| 8.0 | BlackRock Alternative Advisors | New York | United States | 33,250.0 | Global Macro, Convertibles, Managed Futures |
| 9.0 | Apollo Capital | New York | United States | 32,680.0 | Managed Futures, Credit |
| 10.0 | Wellington Management Company LLP | Boston | United States | 27,210.0 | Multi Strategy, Commodities |
| 11.0 | Brigade Capital Management | New York | United States | 26,756.0 | Managed Futures, Distressed Assets, Long/Short, Credit |
| 12.0 | King Street Capital Management | New York | United States | 24,504.6 | Global Macro, FX, Long/Short, Distressed Assets |
| 13.0 | Magnetar Capital | Evanston | United States | 22,958.1 | Multi Strategy, Managed Futures, Event Driven, Credit |
| 14.0 | Centerbridge Partners LP | New York | United States | 21,711.4 | Multi Strategy, Distressed Assets, Managed Futures, Credit |
| 15.0 | Nephila Capital | Larkspur | United States | 19,793.2 | Insurance, Commodities |
| 16.0 | Grantham, Mayo, Van Otterloo & Co. | Boston | United States | 18,960.0 | Emerging Markets, Global Macro, Energy |
| 17.0 | KLS Diversified | New York | United States | 15,891.6 | Fixed Income, Commodities |
| 18.0 | Brummer and Partners | Stockholm | Sweden | 14,200.0 | Long/Short, Multi Strategy, Global Macro, Managed Futures |
| 19.0 | Alphadyne Asset Management | New York | United States | 11,313.3 | Equity, Managed Futures, Global Macro |
| 20.0 | Aquila Capital | Hamburg | Germany | 10,824.4 | Arbitrage, Energy |
| 21.0 | Paskewitz Asset Management | Edison | United States | 10,653.8 | Managed Futures |
| 22.0 | Abrams Capital | Boston | United States | 10,071.4 | Managed Futures, Opportunistic |
| 23.0 | Alyeska Investment Group | Chicago | United States | 9,751.2 | Managed Futures |
| 24.0 | BlueCrest Capital Management | London | United Kingdom | 9,000.0 | Multi Strategy, Managed Futures, Emerging Markets, Global Macro |
| 25.0 | PointState Capital | New York | United States | 8,128.3 | Energy, Global Macro |
Key Statistics
- The 25 largest commodity hedge funds manage $732 billion in assets as of early 2021. 88% of the top commodity hedge funds are based in the United States. 40% of the largest commodity funds are based in New York.
- With $99 billion in AUM, Ares Management is the largest commodity hedge fund manager in 2021. Graham Capital Management and Lighthouse Investment Partners rank two and three, respectively, among the biggest commodity hedge funds.
- The top 25 commodity hedge fund companies have $732.1 billion USD in assets under management (AUM)
- The average AUM of the top 25 commodity funds for 2021 is $29.3 billion USD
- The median AUM of the top 25 commodity hedge funds for 2021 is $22.9 billion USD
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