OpenQuant Newsletter - Edition #176
Quant News, Jobs & Internships, Upcoming Events, Puzzles and More!
Hello, fellow Quants!
Welcome to the OpenQuant newsletter - a publication dedicated to democratizing quantitative finance by sharing the latest news, jobs & internships, educational opportunities, and upcoming events in the industry.
Here’s what we have in this week’s edition:
Quant News - catch up on what’s happening around the quant industry.
Quant Jobs - discover the latest internships/jobs to land your next quant role.
Upcoming Events - find community events to meet fellow quants.
Educational Resources - latest research papers & courses to learn quant concepts.
Quant Puzzle - keep your interview skills sharp with a weekly brainteaser.
News Headlines
📰 Hedge Fund Whale Rock Soars Nearly 73% in 2026 as Tech Bets Jump | Whale Rock Capital Management’s flagship hedge fund gained 72.5% this year, making the $19 billion tech-focused firm one of the industry’s top performers.
📰 Millennium to Back Citadel Alum’s Hong Kong Quant Hedge Fund Startup | Millennium Management will back a new quantitative hedge fund firm led by former Citadel researcher Paul Dou, which may oversee more than $1 billion.
Our Top Internships
✨ Virtu Financial - 2027 Internship - Quant Research (Undergrad) | a leading global high-frequency trading firm and electronic market maker.
✨ Blackstone - 2027 Quant and Portfolio Analytics Summer Analyst (London) | the world’s largest alternative asset manager, overseeing over $1.3 trillion in assets.
✨ Citadel - Quantitative Research Engineer – PhD Intern (US) | a massive multinational hedge fund founded in 1990 by Kenneth Griffin.
✨ Citadel - Machine Learning Researcher – PhD Intern (US) | a massive multinational hedge fund founded in 1990 by Kenneth Griffin.
Our Top Full-Time Positions
✨ Kalshi - Quantitative Developer | a federally regulated financial exchange that allows users to trade on the outcome of real-world events.
✨ Geneva Trading - Equity Delta-One & TRF Trader | a premier proprietary principal trading firm headquartered in Chicago.
✨ Pimco - Quantitative Research Analyst, Mortgages | a global leader in active fixed income with deep expertise across public and private markets.
✨ Wintermute - Options Trader | a leading global algorithmic trading firm and liquidity provider in the digital asset ecosystem.
Upcoming Events
📆 IMC Trading - Launchpad (Sydney) | IMC’s 3 day discovery program for students graduating in ‘28/29 who are curious about a career in quant trading or research.
📆 Equities – Citadel Associate Program | the Citadel Associate Program teaches foundational equities investing skills to aspiring early career talent.
Educational Resources
🚀 [Quant Trader] Portable Alpha: Solving the Funding Problem of Alternatives | a discussion on portable alpha strategies, focusing on managing risks and tracking error.
🚀 [Quant Researcher] Scaling Laws, Carefully | an article about how AI scaling laws predict performance improvements as models, data, and compute grow.
🚀 [Quant Developer] Efficient Algorithms and Intractable Problems | UC Berkeley’s open-sourced algorithm design and analysis course.
Weekly Quant Puzzles
Question #1 - Probability
A quilt shop sells three different colored quilts: blue, red, and green. Of the first 1000 quilts sold, 400 were green. Calculate the appropriate test statistic to determine if customers have a preference for green quilts. Assume random sampling, variance homogeneity, and that preference is approximately normally distributed.
Quote of the Week
“We are at what is widely viewed as a real inflection point in the evolution of technology, with the rise of large language models. Some are convinced that within three years almost everything we do as humans will be done in one form or another by LLMs and other AI tools. For a number of reasons, I am not convinced that these models will achieve that type of breakthrough in the near future.” - Ken Griffin