Top 100 US Hedge Funds 2026

The 100 largest US Hedge Funds manage approximately $5.48 trillion in combined assets as of 2026, up 13.8% from 2025.

Citadel Investment Group leads the rankings at $446B in AUM, based in Chicago. Ares Management ranks second at $319B, followed by Balyasny Asset Management at $265B.

New York is the most represented location with 51% of the top 100 funds.

There are 8 new entrants to the top 100 in 2026 and 8 funds that dropped off compared to 2025.

Total AUM — Top 100 US Hedge Funds 2026

City Distribution

$5.48T

Total AUM

+13.8%

YoY Change

$54.8B

Average AUM

51%

Based in New York

Top 100 US Hedge Funds 2026

Ranked by assets under management (AUM). Click any column to sort. Fund names link to detailed profiles.

Rank	Δ	Fund Name	City	AUM ($M)	Strategy
1	—	Citadel Investment Group	Chicago	445,959.0	Convertibles
2	—	Ares Management	Los Angeles	318,747.7	Commodities
3	—	Balyasny Asset Management	Chicago	265,152.4	Multi Strategy
4	NEW	Oracle Investment Management	Greenwich	265,152.4	Long/Short
5	—	Point72 Asset Management	Stamford	220,930.3
6	▾2	Millennium Capital Partners	New York	218,000.0	Multi Strategy
7	▴2	DE Shaw	New York	154,586.9	Absolute Return
8	▴2	Alphadyne Asset Management	New York	147,366.2	Commodities
9	▴4	Exoduspoint Capital Management, LP	New York	119,722.3	Multi Strategy
10	▴5	Two Sigma Investments	New York	110,281.1	Commodities
11	▾5	Garda Capital	Minneapolis	106,636.6	Distressed
12	▾1	Goldman Sachs Asset Management	New York	106,240.0	Fund of Funds
13	▾6	Mariner Investment Group LLC	New York	103,600.9
14	▴2	Angelo Gordon & Co.	New York	100,050.7	Commodities
15	▾7	Bridgewater Associates	Westport	97,886.6	Global Macro
16	▾2	Renaissance Technologies	East Setauket	91,958.3	Multi Strategy
17	▴8	Lighthouse Investment Partners	Palm Beach Gardens	85,747.9	Commodities
18	▴2	Bracebridge Capital	Boston	84,739.2	Absolute Return
19	▾7	Cerberus Capital Management	New York	84,094.6	Distressed
20	▾1	AQR Capital Management	Greenwich	83,848.2	Commodities
21	▴1	Tudor Investment Corporation	Stamford	83,565.5	Commodities
22	▾4	Fortress Investment Group	New York	71,327.4	Distressed
23	▾2	Viking Global Investors	Greenwich	69,789.5	Global Macro
24	—	Tiger Global Management LLC	New York	69,561.6
25	▾2	Coatue Management	New York	69,416.4
26	—	Adage Capital Management	Boston	59,994.0
27	—	Stone Point Capital	Greenwich	56,767.3	Long/Short
28	▴16	III Capital	Boca Raton	55,300.5	Fixed Income
29	▴2	Farallon Capital Management	San Francisco	48,181.1	Multi Strategy
30	▾1	Och-Ziff Capital Management	New York	44,025.8	Commodities
31	▾1	Sculptor Capital Management	New York	44,025.8
32	—	GoldenTree Asset Management	New York	43,734.3	Absolute Return
33	▾5	Davidson Kempner Capital Management	New York	41,633.1	Distressed
34	▴3	Tenaron Capital Management	New York	40,039.4	Global Macro
35	▾18	Element Capital Management	New York	40,030.5	Fixed Income
36	▾3	Oaktree Capital Management	Los Angeles	38,350.0	Distressed
37	▾3	Holocene Advisors	New York	38,045.8	Long/Short
38	▴10	Silver Point Capital	Greenwich	37,087.2	Distressed
39	▾3	Centerbridge Partners LP	New York	37,035.7	Commodities
40	▾2	Voloridge Investment Management	Jupiter	36,273.7
41	▴9	Field Street Capital Management	New York	36,005.8	Fixed Income
42	—	Hudson Bay Capital Management	New York	33,891.9	Multi Strategy
43	▾4	BlackRock Alternative Advisors	New York	33,250.0	Commodities
44	▾3	Apollo Capital	New York	32,680.0	Commodities
45	▴2	King Street Capital Management	New York	32,316.1	Commodities
46	▾3	Paskewitz Asset Management	Edison	31,844.4	Commodities
47	▴9	Alyeska Investment Group	Chicago	31,652.2	Commodities
48	▾13	Select Equity	New York	31,573.7	Long/Short
49	▴20	Graham Capital Management	Rowayton	28,538.3	Commodities
50	▾5	Kayne Anderson Capital Advisors	Los Angeles	28,444.3	Multi Strategy
51	▴10	HBK Capital Management	Dallas	28,013.1	Multi Strategy
52	▾12	Moore Capital Management	New York	27,984.0	Emerging Markets
53	▾2	Wellington Management Company LLP	Boston	27,210.0	Commodities
54	▾2	Capstone Investment Advisors LLC	New York	26,990.0
55	▾6	Benefit Street Partners	New York	26,070.2	Fixed Income
56	▴2	Magnetar Capital	Evanston	24,950.4	Commodities
57	NEW	Pine River Capital Management	Minnetonka	24,052.6	Commodities
58	▾3	Baupost Group	Boston	23,584.8	Long/Short
59	—	Strategic Value Partners	Greenwich	23,424.1	Distressed
60	▴22	Woodline Partners	San Francisco	22,743.7	Long/Short
61	▾4	Horsley Bridge Partners	San Francisco	22,290.4	Fund of Funds
62	▾8	Haidar Capital Management	New York	21,921.1	Global Macro
63	▴8	Diameter Capital Partners	New York	21,577.7	Fixed Income
64	▾1	Wafra Investment Group	New York	20,813.4	Multi Strategy
65	▾19	Paloma Partners	Greenwich	20,803.3	Multi Strategy
66	▴6	Brigade Capital Management	New York	20,342.1	Commodities
67	▾7	Marathon Asset Management	New York	20,320.7	Distressed
68	▴8	Lone Pine Capital	Greenwich	19,846.2	Emerging Markets
69	▴15	Beach Point Capital Management	Santa Monica	19,735.6	Fixed Income
70	▾6	Arrowstreet Capital	Boston	19,600.0	Emerging Markets
71	▾6	Stockbridge	San Francisco	19,538.1	Real Estate
72	▴15	Third Point LLC	New York	19,323.9	Distressed
73	▾7	Guggenheim Capital Markets	New York	19,206.2	Fixed Income
74	▾7	Appaloosa Management	Short Hills	19,100.0	Distressed
75	—	Alpha Wave Global, LP	New York	19,033.7	Distressed
76	▾8	Grantham, Mayo, Van Otterloo & Co.	Boston	18,960.0	Commodities
77	▾7	Pershing Square Capital Management	New York	18,251.2	Long/Short
78	▾5	OrbiMed Advisors	New York	17,339.3
79	—	Universa Investments	Miami	17,206.7
80	▾3	Varde Partners	Minneapolis	16,669.2	Distressed
81	▴8	Monarch Alternative Capital	New York	16,474.6	Distressed
82	▾2	Neuberger Berman	New York	15,900.0	Fund of Funds
83	▾9	MSD Capital	New York	15,673.7
84	▴1	Bayview Asset Management	Coral Gables	14,700.0	Fixed Income
85	▴14	Saba Capital	New York	14,474.5	Fixed Income
86	▴7	Alkeon Capital Management	New York	14,157.2
87	▴3	Lazard Alternatives	New York	14,120.0	Long/Short
88	NEW	PDT Partners	New York	14,019.3
89	▴7	Commonfund Capital	Wilton	13,964.0	Fixed Income
90	▾28	CarVal Investors	Minneapolis	13,945.1	Fixed Income
91	NEW	Engineers Gate Manager	New York	13,570.9
92	—	Canyon Partners	Los Angeles	13,544.9	Commodities
93	▾15	MJX Asset Management	New York	13,120.1	Fixed Income
94	NEW	LibreMax Capital	New York	12,999.1	Distressed
95	NEW	Abrams Capital	Boston	12,962.8	Commodities
96	NEW	26 North	New York	12,831.6	Fixed Income
97	▾3	JHL Capital Group	Chicago	12,776.0	Convertibles
98	▾3	Rockpoint Group	Boston	12,776.0	Real Estate
99	NEW	Altimeter Capital	Boston	12,692.5	Long/Short
100	▾14	Pharo Management	New York	12,421.0	Emerging Markets

Top 10 Funds — AUM Comparison ($B)

Movers and Shakers

🔺 Biggest AUM Gainers

Fund	$ Change	% Change
Citadel Investment Group	+$48.9B	+12.3%
Point72 Asset Management	+$48.8B	+28.4%
Ares Management	+$37.3B	+13.3%
DE Shaw	+$34.1B	+28.3%
Exoduspoint Capital Management, LP	+$34.0B	+39.6%

🆕 New Entrants

Rank	Fund	AUM
#4	Oracle Investment Management	$265,152M
#57	Pine River Capital Management	$24,053M
#88	PDT Partners	$14,019M
#91	Engineers Gate Manager	$13,571M
#94	LibreMax Capital	$12,999M
#95	Abrams Capital	$12,963M
#96	26 North	$12,832M
#99	Altimeter Capital	$12,693M

📉 Dropped from List

BlueMountain Capital

Caxton Associates

Crestline Investors

Knighthead Capital Management, LLC

Laurion Capital Management

Nephila Capital

Soroban Capital Partners

Waterfall Asset Management

📊 Fastest Growing (%)

III Capital	+84.7%
Lighthouse Investment Partners	+58.6%
Graham Capital Management	+53.1%
Woodline Partners	+51.5%
Alyeska Investment Group	+43.7%

Key Statistics

51 of the top 100 are based in New York (51%)
9 of the top 100 are based in Boston (9%)
8 of the top 100 are based in Greenwich (8%)
4 of the top 100 are based in Chicago (4%)
4 of the top 100 are based in Los Angeles (4%)
The top 100 funds manage $5.48 trillion in combined AUM
The top 10 funds alone manage $2.27 trillion — 41% of the total
Average AUM of the top 100 is $54.8 billion
Median AUM is $28.0 billion
Combined AUM increased 13.8% from 2025

Strategy Distribution Trends

Strategy	2024	2025	2026	YoY Δ
Fixed Income	35	36	36	—
Multi Strategy	26	27	27	—
Commodities	21	22	23	+1
Distressed	25	21	20	-1
Global Macro	15	18	17	-1
Long/Short	20	18	17	-1
Real Estate	9	10	10	—
Emerging Markets	6	6	6	—
Convertibles	6	5	5	—
Fund of Funds	9	6	5	-1
Absolute Return	5	3	3	—
Energy	3	3	3	—