Tetragon Financial Group Ltd reported a negative net asset value per share total return of 2.5% for the first half of 2026. Fully diluted NAV per share fell to $46.00 at June 30, 2026, down from $41.88 at the end of 2025. The company declared a dividend of $0.12 per share for the second quarter, unchanged from the first quarter, representing an annualized yield of approximately 3.6%. Aggregate investment performance was a net loss of $131.4 million, driven by a $138.9 million loss in private equity and venture capital, mainly from a decline in Ripple's share price from $150 to $109, and a $69.2 million loss in other equities due to mark-to-market losses in UiPath. These were partially offset by a $120.2 million gain in Tetragon Partners, driven by BGO and Equitix investments. The company's net cash position was negative $135.8 million at the end of June, with $185 million drawn on its revolving credit facility.
Uipath IncMark-to-market losses in UiPath contributed to Tetragon's other equities loss.
Decline in Ripple's share price from $150 to $109 drove private equity loss.