Strategies for a range
of market opportunities


Ideas are not enough in the pursuit of successful investments. Our team members share more than a quarter-century commitment to pursuing superior returns, applying their talents to fundamental research and advanced quantitative analysis to bring their insights to market. Operating in a culture of excellence, and leveraging long-term relationships with thousands of companies and institutions, we move swiftly and deliberately to capitalize on opportunities having the greatest potential.

Citadel’s investment strategies focus on all major asset classes across the world’s capital markets. Within a broad range of investment strategies, we deploy our capital with the objective of generating market-leading investment returns.


Recent awards

Hedge Fund of the Year
Institutional Hedge Fund Manager of the Year
Buy-Side Risk Manager of the Year


Who we are

Citadel’s equities teams employ their deep expertise to invest in the equity and equity-linked securities of companies across the globe. We seek to generate alpha by combining fundamental stock selection with proprietary analytical methodologies, grounded in rigorous risk management.

Partnering with Investor Relations

Citadel invests in companies in the Communications, Consumer, Energy, Financials, Healthcare, Industrials, Media and Entertainment, and Technology sectors. Participating in thousands of company meetings annually across the globe, we believe in engaging with the companies we analyze and invest with.

What we do

Our equities platform supports three different businesses:

Citadel Global Equities

Established in 2001, Citadel Global Equities (CGE) is Citadel’s founding fundamental equities business. CGE brings together the leading minds from across six primary investment sectors ranging from Consumer to Energy to Healthcare.

Within CGE, our Primary Strategies team supports corporate capital formation by investing in initial and follow-on issuances of stock.

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Surveyor Capital

Established in 2008, Surveyor Capital is a global, multi-manager equities strategy and is one of Citadel’s three fundamental equities businesses. At the core of the Surveyor investment process, sector-aligned investment teams focus on understanding each company’s strategy, management team, drivers of performance, and cyclical and secular industry trends over the medium and long term.

Within Surveyor, our Primary Strategies team invests globally in companies raising capital via initial public and follow-on equity offerings.

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Ashler Capital

Established in 2018, Ashler Capital is a value-oriented market-neutral equity business that combines a fundamental investment approach and strong relationships with management teams in an effort to achieve consistently high risk-adjusted returns through investments in undervalued public companies.

Sector Focus: Healthcare, Industrials, Energy, Technology, Media & Telecom, Consumer, Financials, and Risk Arbitrage.

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Fixed Income & Macro

Who we are

Citadel’s Fixed Income and Macro team seeks to generate alpha by investing in fixed income securities in global markets using macro and relative value strategies. As one of Citadel’s longest standing strategies, our team’s investment process blends quantitative analysis, fundamental research, and experienced judgment.

How we do it

Citadel’s Fixed Income and Macro team works collaboratively, integrating a disciplined investment process within a rigorous analytical framework. Leveraging its in-depth understanding of central banks and partnerships with leading economists, our expertise spans macro views, monetary policy, and the intersection of public and proprietary data. Our trading and research team constantly originates, analyzes, and evaluates new opportunities, using qualitative and quantitative methods. Areas of focus include rates, currencies, sovereign bonds, and inflation.


Edwin Lin
Head of Global Fixed Income

Edwin Lin is Head of Global Fixed Income at Citadel and is a member of Citadel’s Portfolio Committee. He first joined Citadel in 2011 as a Senior Portfolio Manager focused on global linear relative value strategies. Prior to joining Citadel, he was at Credit Suisse for 10 years where he most recently served as Head of USD Short-end and Basis Trading and as Head of Canadian Rates. Mr. Lin received a bachelor’s degree from Harvard College.


Who we are

Citadel’s commodities team seeks to generate alpha through directional and relative value strategies across both physical and financial commodities markets. We evaluate opportunities in natural gas, power, crude, and refined products, and agriculture, primarily in North America and Europe.

How we do it

Citadel uses fundamental research, proprietary analytical methodologies, and quantitative analysis to drive our views. We join these techniques with an intense focus on understanding each market we trade, reflected in our ability to generate supply and demand balances for each commodity or product. A key part of this process is our advanced technology platform that allows us to quickly and deeply understand patterns within a market or product, conduct scenario analysis and improve the overall accuracy of our views.


Sebastian Barrack
Head of Commodities

Sebastian Barrack is Head of Commodities at Citadel and is a member of Citadel’s Portfolio Committee. Mr. Barrack leads the investment teams trading natural gas, power, crude and refined products, agriculture and other commodity products.

Prior to joining Citadel, Mr. Barrack was at Macquarie Group Ltd. for more than 20 years, where he built and led the agriculture, energy and metals teams across the US, Europe and Asia, and most recently served as Global Head of Metals, Mining & Agriculture.

Mr. Barrack received a bachelor’s degree from Australian National University.


Who we are

Citadel’s credit team seeks to generate alpha by focusing on the relationships that connect corporate bonds, convertible bonds, bank debt, credit derivatives, credit indices, and equities.

How we do it

Operating primarily across the U.S. and European corporate universe, the group’s core strategies integrate structural, statistical, and fundamental approaches to investing across the corporate capital structure.


Pablo Salame
Head of Global Credit

Pablo Salame is Head of Global Credit at Citadel, responsible for leading the firm’s developed and emerging market credit strategies and convertible arbitrage activities. He also serves on Citadel’s Portfolio Committee.

Prior to joining Citadel in 2019, Pablo worked at Goldman Sachs for more than 22 years, most recently serving as Co-Head of the Securities Division for 10 years. His previous roles include Head of European Equities Trading, Co-Head of Global Credit, and Global Co-Head of Emerging Market Debt. He began his career working for Citicorp.

Pablo is a member of the Brown University Corporation Board of Trustees, the external advisory board of the Carney Institute for Brain Science, the Board of Directors of Signature Theatre, and of the Advisory Board of the Billie Jean King Leadership Initiative. He earned his Bachelor of Science degree in applied mathematics from Brown University.


Global Quantitative Strategies

Who we are

Global Quantitative Strategies (GQS) is the systematic investment business within Citadel.  The business trades Equities, FICC, Credit, and Volatility products globally in an automated fashion with varying investment horizons.  We apply leading-edge research techniques and technology to generate and monetize insights about the future.  The business has grown materially since its inception and has continued aggressive growth plans.

How we do it

GQS pairs world class Quantitative Research (QR) and Engineering talent in a culture that emphasizes teamwork, specialization, and unification.  We apply advanced statistical and quantitative modeling techniques to the petabytes of historical and current data we collect to identify and capture investment opportunities.  Our collaborative approach maximizes the potential of the diverse and talented individuals in GQS allowing us to innovatively solve the most complex problems in systematic investing.

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Navneet Arora
Head of Global Quantitative Strategies

Navneet Arora is Head of Global Quantitative Strategies (GQS) at Citadel and is a member of Citadel’s Portfolio Committee. He first joined Citadel as a Senior Quantitative Researcher in 2013. Prior to joining Citadel, Navneet served as Director of Quantitative Research at American Century Investments. Previously, he served as Managing Director and Global Head of Model-Based Credit Research at BlackRock and as Global Head of Credit Research at Barclays Global Investors.

His research has been published in academic and practitioner journals, including Journal of Financial Economics, Review of Accounting StudiesJournal of Investment Management, and Energy Risk.

Navneet received a Ph.D. in finance from University of North Carolina-Chapel Hill, a post-graduate degree from Indian Institute of Management-Kolkata, and a bachelor’s degree from Indian Institute of Technology-Kanpur.

Risk Management

Seeing over the market's horizon