{
  "id": 2099139,
  "title": "Rokos and Brevan Howard hit by July volatility",
  "url": "https://urgent.news/2026/08/20/rokos-and-brevan-howard-hit-by-july-volatility",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-20T08:16:25.000Z",
  "source": {
    "name": "Hedgeweek",
    "slug": "hedgeweek",
    "url": "https://www.hedgeweek.com/rokos-and-brevan-howard-hit-by-july-volatility/"
  },
  "original_language": "en",
  "account": "In July, a number of prominent hedge funds experienced significant losses due to volatility in artificial intelligence stocks, according to a report by Bloomberg. Chris Rokos' Rokos Capital Management suffered a 1.2% drop, trimming its annual gain to 8.1%, while Brevan Howard's Master fund also fell about 1.2%, leaving it up roughly 0.9% for the year. Haidar’s Jupiter fund was hit harder, losing an estimated 3.2% in July and trailing by about 13% for the year. The turbulence followed a strong first half for hedge funds, with many regaining previous losses. DE Shaw's Oculus fund gained 0.9% in July, boosting its 2026 return to 27.7%, and its Composite fund added 0.4%, bringing its year-to-date gain to 13.9%. The decline was partly attributed to concerns over the massive capital spending commitments backing the AI boom, as evidenced by Nvidia's announcement of over $750bn in new AI-related deals. An unexpected performance by a Chinese AI developer also fueled worries about the competitive landscape. The turmoil was exacerbated by the collapse of AI-focused hedge fund Situational Awareness, which fell 67% in July and had to liquidate most of its public-equity portfolio to meet margin calls. The fallout extended beyond technology-focused managers, with macro funds, typically involved in trading currencies and interest rates, becoming more active in equities and thus more exposed to stock market swings. While many managers remained ahead for the year, AI-focused strategies were particularly vulnerable, with Point72’s Turion strategy down 11.4% and Whale Rock’s Long Only and Flagship strategies plunging 18.8% and 21.7%, respectively.",
  "summary": "TOP STORY: Rokos Capital Management and Brevan Howard Asset Management were among a group of prominent hedge funds to suffer losses in July as sharp swings in artificial intelligence stocks disrupted strategies across the industry, according to a report by Bloomberg.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}