The firm was pushed to the edge of implosion last month before offloading most of its public equities portfolio to Ken Griffin's $71 billion Citadel. Griffin's firm came out on the right side of things, instantly converting the deal into one of its best months in years. In less than 24 hours, Griffin's firm acquired the lion's share of Situational's $16 billion holdings in public companies at a 10% discount. Its flagship Wellington Fund was roughly flat in July before the deal but closed the month up 5.9%. On top of that, Citadel's tactical trading fund gained roughly 11% in July and its equities fund roughly 14%, a record advance for both.