He parlayed that into a hedge fund that had extraordinary returns, in excess of 1000% last year and 300% just over a month ago. Leverage cuts both ways and after growing his fund to $45 billion, it looks like this week was curtains. To put that into perspective, Citadel itself only manages $71 billion, Bridgewater manages $78 billion and Elliott manages $76 billion. So, in a way, Citadel pulled a J.P. Morgan here and saved the market. So this almost surely wasn't a total collapse but even halving the fund would rank it at the very top of hedge fund losses alongside Archegos.