Top 10 Hedge Funds Leading Hiring in Equity Research and Portfolio Management

By Edward Storm
December 22, 2025

As 2025 comes to a close, the hedge fund industry—particularly multi-strategy platforms—continues to aggressively recruit talent in equity research and portfolio management. These roles are critical for generating alpha in volatile markets, with firms prioritizing experienced analysts for sector-specific research and seasoned portfolio managers (PMs) to lead pods or strategies. While boutique funds offer niche opportunities, the volume of openings is dominated by larger platforms that provide scale, resources, and high-stakes P&L responsibility.

Based on job board activity (including eFinancialCareers.com), recruiter insights, and industry reports, the following 10 hedge funds stand out for the highest number of active or recently posted roles in equity research and portfolio management. Multi-strategy giants top the list due to their pod-based models, which require ongoing hiring to expand teams and replace underperformers. Note: Hiring is fluid; candidates should check platforms like eFinancialCareers for real-time listings.

1. Millennium Management (~$79bn AUM, Multi-Strategy)

• Largest overall headcount and frequent recruiter of PMs and analysts.
• Equity Research Analyst Roles: Multiple openings for sector specialists (e.g., consumer, tech, financials) supporting long/short equity pods.
• Portfolio Manager Roles: Ongoing recruitment for discretionary PMs across equities and macro; junior PM pathways via graduate programs in conjunction with partners like UBS.

2. Citadel (~$69bn AUM, Multi-Strategy)

• Known for high-efficiency teams and recent additions in equities.
• Equity Research Analyst Roles: Positions for fundamental analysts in centralized teams.
• Portfolio Manager Roles: Hiring experienced PMs for equity pods, including macro-integrated strategies; emphasis on proven track records.

3. Point72 Asset Management (Multi-Strategy)

• Strong focus on internal talent development through Academy program.
• Equity Research Analyst Roles: Academy graduates feeding into analyst positions; openings for long/short equity researchers.
• Portfolio Manager Roles: Incubator programs like LaunchPoint for aspiring PMs; recruiting external sector experts.

4. Balyasny Asset Management (~$23-25bn AUM, Multi-Strategy)

• Aggressive growth with training programs like Anthem.
• Equity Research Analyst Roles: Roles in semis/hardware, consumer discretionary, and general long/short.
• Portfolio Manager Roles: Pod builds for relative value and equity strategies; recent high-profile hires.

5. Schonfeld Strategic Advisors (Mid-Sized Multi-Strategy)

• Expanding discretionary teams.
• Equity Research Analyst Roles: Analyst positions supporting equity pods.
• Portfolio Manager Roles: Junior and senior PM opportunities in expanding strategies.

6. ExodusPoint Capital Management (Multi-Strategy)

• Steady additions despite outflows in prior years.
• Equity Research Analyst Roles: Support for multi-strategy equity integration.
• Portfolio Manager Roles: Recruiting for independent pods.

7. Verition Fund Management (Multi-Strategy)

• Dramatic headcount growth, including investment staff.
• Equity Research Analyst Roles: Expanding research teams.
• Portfolio Manager Roles: New pod opportunities.

8. Caxton Associates (Macro-Focused)

• Structured programs for development.
• Associate Portfolio Manager Program: Pathway roles involving equity/macro research and strategy execution.
• Equity Research Analyst Roles: Limited but targeted for macro support.

9. Qube Research & Technologies (QRT, Quantitative)

• Heavy hiring in research and portfolio implementation.
• Quantitative Equity Research Roles: Openings at Quanta Academy for researchers.
• Portfolio-Related Roles: Implementation and junior PM tracks.

10. Andurand Capital Management (Commodities Boutique, with Equity Overlap)

• Niche but active in research.
• Equity/Commodities Research Analyst: Fundamental roles supporting PM idea generation.
• Portfolio Support Roles: Analyst positions feeding into discretionary strategies.

These firms prioritize candidates with buyside experience, strong modeling, and sector expertise. Multi-strategy platforms offer pod autonomy and performance-based upside, while quant-heavy funds like QRT emphasize data-driven approaches. As markets evolve into 2026, expect continued demand for talent capable of navigating uncertainty.

For professionals in equity research or aspiring PMs, targeting these leaders provides access to cutting-edge strategies and substantial compensation potential.