Our investment strategies focus on the major asset classes in the world’s largest financial markets. Within these areas, we adapt and adjust to position our portfolios most favorably for what we deem to be the best opportunities.

Our strategies are grounded in thoughtful research and developed by experienced, diverse teams. We understand how to bring multiple perspectives to the toughest challenges, engage in vigorous debate and arrive at the best solution.

Our Strategies

Across strategies, our investment approach remains the same: fundamental research and quantitative analysis coupled with rigorous portfolio construction and a sound risk management framework.

Fixed Income and Macro

Global Fixed Income capitalizes on Global Macro and Fixed Income Relative Value opportunities across the world’s liquid interest rate and foreign exchange markets. The core product set is primarily comprised of sovereign government debt, vanilla OTC interest rate derivatives, listed interest rate futures and options, foreign exchange, agency mortgage backed securities, and equity indices.

The team seeks to achieve consistently high risk-adjusted rates of return by applying a collaborative, disciplined investment process within a rigorous analytical framework:

  • The investment process is a blend of quantitative analysis, fundamental research and experienced judgment
  • The culture is collaborative, commercial and intellectually curious
  • Strong emphasis on proprietary analytics, models and technology to grow and maintain a sustainable competitive advantage
  • Robust end-to-end infrastructure to support active trading across a broad variety of products and markets

Each portfolio manager in Global Fixed Income has a disciplined approach towards capitalizing on opportunities given their mandate across a combination of strategy style, domain and region. The team jointly identifies potential investments across the various portfolio managers through a collaborative investment process.

 

Equities

Global Equities combines detailed, fundamental stock selection with a rigorous portfolio construction and risk management framework, focusing on liquid equity markets. The investment process is driven by detailed, bottom-up company analysis. Equities seeks to generate alpha by identifying out- and under-performing stocks in each sector group’s universe within a beta-neutral construct.

Surveyor Capital

Surveyor Capital is a global equity, long/short multi-manager strategy. Surveyor Capital portfolio managers use a fundamental, bottom-up research process, primary due diligence and intensive modeling to construct portfolios that focus on alpha generation while remaining beta-neutral. The Surveyor Capital platform provides portfolio managers with trading infrastructure, committed capital, risk and investment frameworks, and assistance with the hiring of investment analysts and building of an effective team.

Investment portfolios across Equities and Surveyor Capital are organized into seven industry sector groups: Communications, Media and Entertainment; Consumer; Energy; Financials; Healthcare; Industrials; and Technology.

Commodities

Commodities encompasses Citadel’s activities in the North American natural gas market and European gas and power markets, as well as its activities in the crude oil, refined products and agricultural commodities markets. The Commodities team combines fundamental market expertise with quantitative analytics to identify directional and relative value investment opportunities.

Credit

Credit invests across the U.S. and European corporate universe, focusing on the relationships between corporate debt, credit derivatives, credit indices and equities.

The group’s core strategies include Convertible Bond Arbitrage, Relative Value Credit Trading, Credit Index Arbitrage and Capital Structure Arbitrage. The implementation of these strategies integrates structural, statistical and fundamental approaches to investing across the corporate capital structure.

Quantitative Strategies

Quantitative Strategies applies mathematical and statistical models to the financial markets, combining rigorous research and advanced technology to identify and execute on investment opportunities.

The team operates globally, seeking to generate alpha by applying systematic strategies across a diverse set of asset classes including equities, sovereign bonds, fixed income, credit, commodities and currencies.