Bridgewater, D.E. Shaw Among Top Hedge Fund Gainers of 2025

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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};ge("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat($n)),notifLabel:document.querySelector(".".concat(Xn))};t.notifDropdown&&so(e,t)}))}()}};]]>Nishant KumarFri, January 2, 2026 at 8:26 PM GMT+1 2 min readPhotographer: Michael Nagle/Bloomberg(Bloomberg) -- Bridgewater Associates’ flagship money pool posted record gains, while D.E. Shaw & Co.’s strategies soared as much as 28% to rank among the biggest hedge fund winners of 2025 when tariff-fueled market uncertainty presented a fertile hunting ground for traders.Bridgewater’s Pure Alpha II macro fund returned 34% last year, its best ever, while the All Weather strategy rose 20%, a person with knowledge of the matter said, asking not to be identified discussing private information. D.E. Shaw’s flagship multistrategy Composite hedge fund gained 18.5% and Oculus made an estimated 28.2%.Most Read from BloombergNew York City’s Hunts Point Produce Market to Be RebuiltSinkholes and Quake-Hit Roads Expose Japan’s Infrastructure EmergencyMichel Massoud’s event-driven Melqart Opportunities Fund surged 45%, another person said. Millennium Management, the $83.5 billion multistrategy hedge fund firm, gained 10.5% last year. ExodusPoint, which has been building out its equities group to complement its fixed-income operations led by co-founder Michael Gelband, gained 18%, the most since its founding in 2017. The firm manages about $12 billion.Citadel’s flagship hedge fund posted a 10.2% increase in 2025, according to a person familiar with the matter, who asked not to be identified citing private information. It was the first year that Millennium outperformed Citadel’s Wellington fund since 2020.The initial estimates show hedge funds overall posted strong gains with industry returns on track to be the best in at least five years as surging US stocks, precious metals and volatility in bond and currency markets spurred by President Donald Trump’s trade wars helped.Bridgewater, the 50-year-old firm, posted double-digit returns across strategies. The money manager has been in reboot mode since Nir Bar Dea became sole chief executive officer in 2023 and made sweeping personnel changes and cut assets in a bid to boost performance. Westport, Connecticut-based Bridgewater’s billionaire founder, Ray Dalio, has completely exited the firm, selling his remaining stake and stepping down from the board last year.Bridgewater’s Pure Alpha II fund’s gains last year represent a rebound from annualized returns of less than 3% between 2012 and 2024, Bloomberg has previously reported. The firm’s AIA Labs fund that uses machine learning as the primary basis of its decision-making, has raised more than $5 billion and was up 11% last year, the person added.In the world of quantitative investing, AQR Capital Management’s multistrategy offering returned 19.6% in 2025, according to a person familiar with the matter who declined to be identified as the information is private.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,858.47 +12.97 (+0.19%)Dow 3048,382.39 +319.10 (+0.66%)Nasdaq23,235.63 -6.36 (-0.03%)Russell 20002,508.22 +26.32 (+1.06%)VIX14.51 -0.44 (-2.94%)Gold4,329.60 -11.50 (-0.26%)Trending tickersBTC-USD Bitcoin USD 91,196.66 +963.12 (+1.07%)CVX Chevron Corporation 155.90 +3.49 (+2.29%)ETH-USD Ethereum USD 3,148.92 +19.01 (+0.61%)XOM Exxon Mobil Corporation 122.65 +2.31 (+1.92%)XRP-USD XRP USD 2.03 +0.00 (+0.17%)PortfolioSign in to access your portfolioSign inTop gainersFLNC Fluence Energy, Inc. 23.01 +3.23 (+16.33%)SNDK Sandisk Corporation 275.24 +37.86 (+15.95%)SMR NuScale Power Corporation 16.31 +2.14 (+15.10%)BIDU Baidu, Inc. 150.30 +19.64 (+15.03%)ASTS AST SpaceMobile, Inc. 83.47 +10.84 (+14.93%)Top losersPAY Paymentus Holdings, Inc. 28.47 -3.12 (-9.88%)KVYO Klaviyo, Inc. 29.32 -3.15 (-9.70%)LQDA Liquidia Corporation 31.40 -3.09 (-8.96%)APP AppLovin Corporation 618.32 -55.50 (-8.24%)PSNY Polestar Automotive Holding UK PLC 19.81 -1.56 (-7.30%)Most activeONDS Ondas Holdings Inc. 11.02 +1.26 (+12.91%)NVDA NVIDIA Corporation 188.85 +2.35 (+1.26%)PLUG Plug Power Inc. 2.2300 +0.2600 (+13.20%)INTC Intel Corporation 39.38 +2.48 (+6.72%)TSLA Tesla, Inc. 438.07 -11.65 (-2.59%)Top economic eventsEarnings eventsMy earnings eventsEarnings events