Citadel Heads for Lowest Gain Since 2018 as Gas Profits Fall

Ken Griffin’s Citadel is on track for its worst annual return since 2018 after wagers on natural gas — previously a major driver of the hedge fund’s profits — fizzled.

The flagship fund gained 9.3% through Dec. 18, according to a person familiar with the results. It made money in stocks, fixed income, credit and quantitative strategies, and even eked out a profit from commodities, including natural gas, after clawing back from losses earlier in the year. A representative for Citadel declined to comment.