• Steve Cohen’s $50.7 billion Point72 continued its strong 2026 in May.
• Big-name managers, including Millennium and Balyasny, mostly performed well in May.
• The S&P 500 index climbed more than 5% in May, pushing the year-to-date gains to 11%.

Steve Cohen’s $50.7 billion hedge fund has continued its strong run of returns with a 2% gain in May, a person close to the firm tells Business Insider.

That gain puts Cohen’s firm at 10.5% for the year, following a 17.5% gain in 2025, when the manager outperformed its main rivals in the multistrategy space, namely Millennium and Citadel.

May was generally good for big-name managers, people close to the firms told Business Insider. Millennium was up 2.4%, pushing its 2026 gains to 6.1%. Balyasny is now positive for the year thanks to a 1.4% gain last month. Citadel also gained 1.4% in May; Ken Griffin’s firm is now up 3.9% in 2026.

Still, funds struggled to keep pace with equity markets, which surged in May thanks to continued enthusiasm for tech and AI stocks. The S&P 500 index ended last month up 11% after a more than 5% gain in May.

A few managers lost money for the month. Walleye and North Rock both posted small losses — 0.9% and 0.2%, respectively — in May.

The funds listed below declined to comment.

Editor’s note: This story was originally published on June 3 at 12:16 p.m. New figures have been added to the table below as they have been learned.