Post by Cortex Partners Inc.

The chart plots some of the largest hedge funds (by AUM) that disclosed a comparable 2025 flagship-fund return. Bridgewater — Pure Alpha (global macro): +34% in 2025, the firm’s highest annual return on record (Reuters). Under CEO Nir Bar Dea, the firm has reduced assets and capped inflows into Pure Alpha. TCI — activist/long-term equity: master fund +27.8%; ~$18.9B of net client gains, the largest single-year profit recorded by a hedge fund (LCH Investments). D.E. Shaw — Composite (multi-strategy/quant): +18.5%; its macro-focused Oculus fund returned ~28%. Millennium — multi-manager multi-strategy: +10.5%. Citadel — Wellington multi-strategy: +10.2%. The three highest-returning funds run directional or concentrated strategies (macro, activist equity); the two lowest are multi-manager platforms that operate hedged, low-volatility-target books. Conclusion: In 2025, return tracked strategy type rather than firm size — the funds running directional macro and activist strategies (Bridgewater, TCI) outperformed the larger multi-manager platforms (Millennium, Citadel). #HedgeFunds #CortexPartners #Bridgewater #MacroInvesting #FundPerformance The content shared on this page by Cortex Partners Inc. is for informational and educational purposes only. Cortex Partners Inc. is not a registered investment advisor, portfolio manager, or exempt market dealer in any jurisdiction. Nothing here constitutes a recommendation to buy, sell, or hold any security. Independent market insights are not tailored to any individual’s financial situation.