Pierre Andurand’s riskiest hedge fund surged last month, reviving the fortunes of his investment firm that has swung between big gains and losses this year.

A number of multi-billion dollar hedge funds gained in November, numbers obtained by Reuters show, riding the volatility of the U.S. presidential election despite tight polling making positioning more difficult for portfolio managers.

Investors are using over-the-counter binary contracts to manage risks related to events like elections, central bank decisions, and geopolitical conflicts. These contracts offer a pre-determined payoff with an all-or-nothing outcome.

Millennium Management is allocating nearly $3.3 billion to two new teams as Izzy Englander’s hedge fund juggernaut continues to hoover up talent in its push to expand internal and external investments.