Citadel portfolios gain in March despite banking crisis

NEW YORK (Reuters) -U.S. hedge fund Citadel, which earned a record $16 billion profit in 2022, reported gains in its four portfolios last month when the failure of Silicon Valley Bank and Signature Bank triggered a market selloff that left many rivals with losses. The Citadel Wellington fund, the firm’s flagship portfolio, ended the month with a 1.38% gain, leaving it up 4.19% for the first quarter, an investor in the fund said. A Citadel representative declined to comment. Most hedge funds are still compiling March and first-quarter numbers, but preliminary reports from research firm Hedge Fund Research show the…