Hedge funds Millennium Management, Balyasny Asset Management, and Point72 Asset Management experienced significant losses last week as the escalating conflict in Iran triggered substantial market volatility, according to reports confirmed Tuesday.
Millennium Management, which manages approximately $86.7 billion in assets, lost roughly $1.5 billion as of March 6, representing 1.7% of its assets under management. The losses erased the firm’s 2% gain from February, sources familiar with the matter stated. Balyasny Asset Management, with $32 billion in assets, suffered a 3.5% loss. Point72 Asset Management, managing $45.7 billion, saw a 1.1% decline during the week, reducing its year-to-date gains.
The declines come after a strong 2025 for the three firms. Millennium reported a 10.5% return for the year, although Balyasny and Point72 achieved returns of 16.7% and 17.5% respectively. Prior to the recent market turbulence, Balyasny had posted a 0.4% return in January and February, while Point72’s year-to-date return stood at 3.4% before the losses were factored in.
Point72 Asset Management was up 4.5% on the year after returning 1.7% in February, while Millennium was up 2% on the year after a 0.6% gain in the same month.
Representatives for all three firms declined to comment on the specific losses. The market downturn followed the outbreak of hostilities in Iran, creating a challenging environment for investors across multiple asset classes.
