5 Most Profitable Hedge Funds in the World

4. Millennium Management

Net Gains Since Inception: $50.4 billion

Israel Englander founded Millennium Management in 1989. The hedge fund has a portfolio worth about $174.4 billion, and it is made up mostly of technology, services, materials, and financial companies, among others.

Through 2022, Millennium Management generated net gains of $8 billion and a return of 12.4%. Relative to the S&P 500’s 18.11% decline, the fund outperformed in 2022. As of December, the fund had $60 billion in assets under management.