Hedge Funds

Question 1

TGS

Answer 1

Intraday to multiday stat-arb, scalable, 2+ sharpe, ML, Caltech

Question 2

PDT

Answer 2

3 funds: master fund (HFT - MFT), Mosaic (LT fund), Chinese EQ fund, $11B AUM, ML stat arb, Research is split, 2024: ~$4.8B (45%)

Question 3

DE Shaw

Answer 3

GUAS (global unified arb system), originally designed for equities - now for all. Split basis asset, trading style/ freq. 2024: ~$6B

Question 4

Voleon

Answer 4

ML only, Caltech! – founder still professor here, academic approach, Equity and Futures, intraday – multiday

Question 5

G-Research

Answer 5

ML, academia, Equities focused, across frequencies. Research split. % years differed comp. Seniors have a 3+ yr NC

Question 6

Two Sigma

Answer 6

Research split, long duration (5 days EQ, strong), TSS HFT - ~70bn AUM total, ML great, hire lots from tech. Highly academic. WFH ok. 2024: ~$7B

Question 7

Squarepoint

Answer 7

6 funds: Master (intraday-multiday, EQ&Futures); Core (mid-low freq); Focus (intraday-low, EQ); Atlas (Non-EQ); Moebius (Discretionary); Arinini (Credit). 2024: $2.6B.

Question 8

GQS

Answer 8

PnL: $2.4bn (~$380m in non-US equities)