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.

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.

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

$1.69T
Total AUM
+16.9%
YoY Change
$33.7B
Average AUM
74%
Based in United States

Top 50 Commodity Hedge Funds 2026

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

RankΔFund NameCityCountryAUM ($M)
1—Ares ManagementLos AngelesUnited States318,747.7
2—Alphadyne Asset ManagementNew YorkUnited States147,366.2
3—Two Sigma InvestmentsNew YorkUnited States110,281.1
4—Angelo Gordon & Co.New YorkUnited States100,050.7
5▴4Lighthouse Investment PartnersPalm Beach GardensUnited States85,747.9
6—Bracebridge CapitalBostonUnited States84,739.2
7▾2AQR Capital ManagementGreenwichUnited States83,848.2
8▾1Tudor Investment CorporationStamfordUnited States83,565.5
9▾1Brevan Howard Asset ManagementLondonUnited Kingdom58,630.0
10—Och-Ziff Capital ManagementNew YorkUnited States44,025.8
11—Centerbridge Partners LPNew YorkUnited States37,035.7
12—BlackRock Alternative AdvisorsNew YorkUnited States33,250.0
13—Apollo CapitalNew YorkUnited States32,680.0
14▴1King Street Capital ManagementNew YorkUnited States32,316.1
15▾1Paskewitz Asset ManagementEdisonUnited States31,844.4
16▴1Alyeska Investment GroupChicagoUnited States31,652.2
17▴3Graham Capital ManagementRowaytonUnited States28,538.3
18▾2Wellington Management Company LLPBostonUnited States27,210.0
19▾1Magnetar CapitalEvanstonUnited States24,950.4
20▴10Pine River Capital ManagementMinnetonkaUnited States24,052.6
21—Brigade Capital ManagementNew YorkUnited States20,342.1
22▾3Grantham, Mayo, Van Otterloo & Co.BostonUnited States18,960.0
23▴2Systematica InvestmentsLondonUnited Kingdom15,125.2
24—Brummer and PartnersStockholmSweden14,200.0
25▴2MacquarieSydneyAustralia13,850.4
26—Canyon PartnersLos AngelesUnited States13,544.9
27▴2Abrams CapitalBostonUnited States12,962.8
28—Capital Fund ManagementNew YorkUnited States11,997.2
29▾6Nephila CapitalLarkspurUnited States11,416.8
30▴10Weiss Asset ManagementBostonUnited States10,675.4
31▴3ArcLight Capital PartnersBostonUnited States9,485.1
32▴4PointState CapitalNew YorkUnited States9,399.1
33▾2TranstrendRotterdamNetherlands9,040.0
34▾2BlueCrest Capital ManagementLondonUnited Kingdom9,000.0
35▴9Winton Capital ManagementLondonUnited Kingdom8,666.9
36▾3Taconic Capital AdvisorsNew YorkUnited States8,065.2
37▴2Harbert Management CorporationBirminghamUnited States7,840.9
38▾1Highbridge Capital ManagementNew YorkUnited States7,463.6
39▾1Blue Mountain Capital PartnersLondonUnited Kingdom7,100.0
40▾5Avenue Capital GroupNew YorkUnited States6,405.8
41—SPX CapitalRio de JaneiroBrazil6,150.0
42—Stone Milliner Asset ManagementLondonUnited Kingdom5,380.0
43—Dymon AsiaSingaporeSingapore5,200.0
44▴4Hancock Timber Resource GroupBostonUnited States3,669.0
45▴1Acadian Asset ManagementBostonUnited States3,600.0
46▾1Wimmer HorizonLondonUnited Kingdom3,480.6
47—Aspect CapitalLondonUnited Kingdom3,470.0
48▴2Electron Capital ManagementNew YorkUnited States3,412.0
49NEWAlder CapitalDel MarUnited States3,057.9
50NEWRimrock Capital ManagementIrvineUnited States3,057.8

Top 10 Funds — AUM Comparison ($B)

Movers and Shakers

🔺 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

RankFundAUM
#49Alder Capital$3,058M
#50Rimrock 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

Country202420252026YoY Δ
United States393637+1
United Kingdom588—
Australia011—
Brazil111—
Netherlands111—
Singapore011—
Sweden111—

Frequently Asked Questions

What is the largest Commodity Hedge Funds?
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.

Related Rankings

Top 250 Largest Hedge Funds 2026 Top 10 Energy Hedge Funds 2026 Top 50 Global Macro Hedge Funds 2026 Top 100 Hedge Funds in North America 2026
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