Largest Hedge Funds
The 100 largest hedge fund managers by the private fund gross assets they report to the SEC on Form ADV. Gross assets count what the funds borrow, so they run above the money investors put in. Citadel Advisors is the largest: $1,094.3 billion through Citadel Advisors LLC (filed ).
Millennium Management follows with $712.7 billion. The 100 managers counted report $10,374.7 billion together; the ten largest hold 48% of it, and half report less than $36.4 billion.
Updated . Rechecked quarterly; next check . Figures read , as filed to .
- $25BN and over94%63 managers
- $10BN to $25BN6%37 managers
Latest Form ADV of each, filed Mar 2026 to Oct 2026. Read ; sources at the end of the page.
- Hedge fund managers listedList of October 2026; 100 are hedge fund managers
- 100
- Combined fund assets100 counted; as filed to Oct 2026
- $10,374.7BN
- Median managerHalf of the 100 report less
- $36.4BN
- Held by the ten largestOf the $10,374.7BN combined
- 48%
Citadel Advisors, Millennium Management and Qube Research & Technologies lead the Worldwide hedge fund managers by fund assets
The ten largest by private fund gross assets on their latest Form ADV. Together they report $4,973.5BN, 48% of the $10,374.7BN the 100 counted report.
- 1
Citadel Advisors
Hedge fund manager, Miami, FL
- 2
Millennium Management
Hedge fund manager, New York, NY
- 3
Qube Research & Technologies
Hedge fund manager, London, United Kingdom
- 4
Capula Investment Management
Hedge fund manager, London, United Kingdom
- 5
Symmetry Investments
Hedge fund manager, St Helier, Jersey
- 6
LMR Partners
Hedge fund manager, New York, NY
- 7
Point72 Asset Management
Hedge fund manager, Stamford, CT
- 8
Marshall Wace
Hedge fund manager, London, United Kingdom
- 9
Two Sigma Investments
Hedge fund manager, New York, NY
- 10
Schonfeld Strategic Advisors
Hedge fund manager, New York, NY
Gross assets of the private funds each adviser reported in its latest Form ADV. Each pin opens the filing behind the figure; the ranking rule and sources are at the end of the page. Read .
The ten largest hold 48% of the fund assets
How the 100 managers counted spread by size: most are small, the dollars sit at the top.
One dot per manager counted. Read .
Fund assets each reported in its latest filing; shares are of the $10,374.7BN combined, one row per manager. Read .
11%
of the fund assets reported sits with one manager, Citadel Advisors. The five largest hold 32%; 0 of 100 report under $1 billion.
- Hedge fund managers100
Kind of each, from its own website and filings, checked October 2026.
- New York37
- London11
- Boston6
- Greenwich4
- St Helier4
- Chicago3
Main office on each firm's Form ADV.
Leaders beyond the ranking
Figures the main ranking does not compare: the largest holdings of US listed stocks, most active in private offerings, most private funds.
| Rank | Name | Figure |
|---|---|---|
| 1 | Citadel Advisors | $875.1BNQ2 2026 |
| 2 | AQR Capital Management | $286.8BNQ2 2026 |
| 3 | Millennium Management | $276.3BNQ2 2026 |
| 4 | Arrowstreet Capital, Limited Partnership | $225.4BNQ2 2026 |
| 5 | Two Sigma Investments | $138.1BNQ2 2026 |
| 6 | Marshall Wace | $126.7BNQ2 2026 |
| 7 | Qube Research & Technologies | $107.6BNQ2 2026 |
| 8 | Point72 Asset Management | $90.7BNQ2 2026 |
72 managers counted here report listed stocks for a 2026 quarter.
| Rank | Name | Figure |
|---|---|---|
| 1 | Marshall Wace | 7842 issuers |
| 2 | Voloridge | 156 issuers |
| 3 | Jain Global | 129 issuers |
| 4 | PDT Partners | 84 issuers |
| 5 | Egerton Capital (UK) | 42 issuers |
| 6 | Himalaya Capital | 42 issuers |
| 7 | Holocene Advisors | 42 issuers |
Counts notices, new and amended, filed by issuers whose name begins with the name; offering amounts are not shown.
| Rank | Name | Figure |
|---|---|---|
| 1 | AQR Capital Management | 304Aug 2026 |
| 2 | TPG Angelo Gordon | 237Aug 2026 |
| 3 | Lighthouse Investment Partners | 139Sep 2026 |
| 4 | Marshall Wace | 77May 2026 |
| 5 | King Street Capital Management | 63Mar 2026 |
| 6 | Two Sigma Investments | 62Mar 2026 |
| 7 | Magnetar Financial | 58Aug 2026 |
| 8 | Davidson Kempner Capital Management | 56Apr 2026 |
The list is public. The warm path is not. Schedule a conversation
All 100 on the list
Largest first, with each manager's private fund gross assets, private funds, listed stocks and fund offerings, each with a pin to its filing; managers with no figure show the interests they state on their own sites.
Showing all 100 managers
The first 30 are shown here; find, a kind or a size shows every match.
No row matches. Clear the find field or choose All.
Fund assets are the gross assets of the private funds in the adviser's latest Form ADV (solid bar; grey when the manager is not in the totals). Listed stocks are the US listed securities a firm reports each quarter; fund offerings count the private offering notices of funds named for the manager in two years. Each pin opens the filing behind the figure. The square beside a name opens every figure with its filing and notes.
A few large advisers hold most of the money
Six findings from the filings of the 100 managers counted.
- 11%
of the $10,374.7 billion the 100 managers counted report is one manager's: Citadel Advisors. Without it, the other 99 report $9,280.3 billion.
Fund assets, latest Form ADV of each; sums of filed figures
- $36.4BN
is the median: half of the 100 report less, and the smallest reports $13.4 billion.
Fund assets, latest Form ADV of each
- 1,916
private funds are advised by the managers counted; AQR Capital Management advises the most, 304.
Private funds on each Form ADV (Schedule D); sums of filed figures
- $3,324.9BN
of US listed stocks reported by 72 managers counted for a 2026 quarter; the largest, Citadel Advisors, reported $875.1 billion.
Quarterly listed stock reports (Form 13F), 2026
- 125
private offering notices in two years were filed by funds and vehicles named for 7 managers; Marshall Wace leads with 78.
Private offering notices, to
- 38
of the 100 have their main office in New York; the next place is the United Kingdom, with 11.
Main office on each Form ADV
Questions
How many hedge fund managers file with the SEC?
2,786 advisers whose private funds are half or more hedge funds report private fund gross assets on Form ADV (the SEC files of October 1, 2026), 2,232 of them with a main office in the United States. This list ranks the largest 100.
What are the largest hedge funds?
By the private fund gross assets they report: Citadel Advisors $1,094.3 billion, Millennium Management $712.7 billion, Qube Research & Technologies $580.4 billion, Capula Investment Management $568.9 billion, Symmetry Investments $394.9 billion.
How much do the largest hedge funds manage?
Of the 100 on this list, the median reports $36.4 billion in private fund gross assets; the largest reports $1,094.3 billion and the smallest $13.4 billion.
How do you start a relationship with hedge fund managers?
Each manager on this page links to its own website, and each figure carries a pin that opens the public filing it comes from. For fund managers and companies raising capital, Praxis Rock runs capital formation programs; see Raise Capital.
Sources and method
- Who is listed
- The 100 largest by private fund gross assets of the 2,786 advisers that file Form ADV with the SEC (files of October 1, 2026) where half or more of their private funds are hedge funds. 77 of the 100 have their main office in the United States. Left out: 49 whose own sites, filings or an earlier verdict of this site describe another business (traditional and diversified asset managers 13, credit managers 13, multi-strategy managers 6, fund of funds managers 3, wealth managers 3, consultants 3, infrastructure managers 2, real estate managers 2, private equity firms 1, family offices 1 and other businesses 2); 1495 exempt reporting advisers with no website on file. 5 sister advisers folded into the row of their business; 38 on the filing alone, their sites missing, unreachable or too thin to judge.
- Ranking rule
- The top 10, every total, share and median, the charts and the answers to the questions use one set: the 100 advisers that report private fund gross assets in their latest SEC Form ADV, that the filing itself ties to the row (the CRD the list cites, or the row's own website in Item 1.I), one figure per adviser. A name match with no such tie is shown in the row's detail only, never ranked or counted.
- Our arithmetic
- The $10,374.7BN, the median, shares, charts and boards are sums and medians of filed numbers over that one set; 0 managers with a figure outside it stay listed with the figure and the reason.
- Pins
- Each figure's pin opens the filing it comes from: the adviser's Form ADV as filed, or the SEC filing index of its 13F report or of the latest private offering notice (Form D). The pin's label names the source and its date.
- What we searched
- On we searched every manager by its website against the websites advisers list on Form ADV, by the CRD the list cites, by name for Form ADV, and by every CIK found for 13F reports, and searched private offering notices for funds named for it. Of the 100, 100 report on a current Form ADV, 77 file 13F reports (72 for a 2026 quarter with a value), 7 have funds named for them in private offering notices, and 0 more show a possible match by name only in their detail, not counted.
- Words
- Kinds and interests are each manager's own, from its website. No person names are shown.
| Figure | Source | Period, read |
|---|---|---|
| Assets, private funds, client types, main office, employees | SEC Form ADV adviser data, October 2026 report, and each adviser's Form ADV as filed, 100 advisers | Filings to 2026-10-01; read 2026-10-31 |
| Listed stocks | SEC EDGAR Form 13F, 77 filers | Latest quarter; read 2026-10-31 |
| Private offering notices of funds named for a firm | SEC EDGAR full text search, Form D and D/A | 2024-10-30 to 2026-10-30 |
| Kind, interests and website | Each manager's own website, as researched for this list | Checked 2026-10-31 |
| Logos | Each manager's own website; a monogram where none checks | Read 2026-10-31 |
Cite as: Praxis Rock Advisors, "Largest Hedge Funds," updated October 31, 2026, praxisrock.com/resources/investors/largest-hedge-funds