Bridgewater Shareholders Sell Stakes at Discount Despite Record 2025 Returns

According to Bloomberg, after Nir Bar Dea's three-year turnaround, Bridgewater's flagship macro fund achieved record returns in 2025. However, two of the fund's seven institutional shareholders decided to sell their stakes back at a discount, and a third—the Teachers Retirement System of Texas—is seeking to exit its position. The Texas system had previously cut its valuation of Bridgewater by 9% last year.
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