Bridgewater’s Pure Alpha up 18.4% through Sept.

Bridgewater Associates’ flagship Pure Alpha fund returned 18.4% in the first nine months of 2026, according to people familiar with the figures. The gains cover the period through late September and extend a recovery for the firm’s macro strategy after a stretch of market volatility.

The results come amid a difficult third quarter for many hedge funds. A sharp sell-off in artificial intelligence-related stocks in July forced some managers to unwind technology-linked positions, a dynamic that pressured parts of the industry during the summer.

Bridgewater’s AIA Macro fund, which applies a macro framework with exposures linked to developments in artificial intelligence, gained 16.4% through Sept. 29, according to a person familiar with the figures. The AIA Macro strategy launched in late 2023, manages more than $4.5 billion and has produced an annualised return of 13.2% since inception.

Pure Alpha typically takes positions across interest rates, currencies, commodities and equities. People familiar with the performance cited the firm’s repositioning across asset classes as a factor in capturing gains as market conditions shifted through the summer and early autumn.

The Westport, Connecticut-based manager oversees about $102 billion in assets. The reported returns reflect internal performance measures provided to people with knowledge of the funds. Bridgewater declined to comment on the specifics of the figures.