# Major hedge funds post losses in turbulent July Millennium, Point72, and Asia funds faced a challenging month. - **Source:** [Business Insider](https://www.businessinsider.com) - **Published:** 2026-08-04 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/38514229-5528-41b9-8ad8-74b9670c2014 ## Hedge funds faced a tough July Hedge funds experienced significant losses in July. Millennium lost 2.1%, while Point72 dropped 3.3%. Asia-based Dymon Asia and Pinpoint funds fell 6.5% and 9% respectively. This performance negatively impacted their 2026 returns. Market volatility and economic uncertainties contributed to the funds' struggles. ## Asian market troubles hit funds hard Stock market jitters in South Korea and Japan's economic woes severely affected Asia-based funds. Dymon Asia lost 6.5%, while Pinpoint dropped 9%. Despite these losses, both funds still maintain positive returns for 2026. However, July's performance raised concerns among investors about regional stability. ## Collapse of Situational Awareness fund Leopold Aschenbrenner's Situational Awareness fund plummeted 67% in July. The AI-focused fund faced margin calls, forcing a fire sale. Citadel's purchase of most assets triggered a market rebound, boosting tech stocks. This intervention provided temporary relief but couldn't prevent overall July losses across the sector. ## Global market volatility impacts AI skepticism and Middle East conflicts disrupted energy markets, while the new Fed chair's first meeting added uncertainty. These factors contributed to the S&P 500's 0.1% July decline. Hedge funds particularly suffered from these turbulent conditions, with many posting unusual mid-year losses. ## Millennium and Point72 performance Izzy Englander's Millennium lost 2.1% in July, reducing its 2026 returns to 8.2%. Steve Cohen's Point72 dropped 3.3%, bringing YTD gains to 10.9%. Both New York-based funds felt global market pressures. July's performance marked a challenging start to Q3 for these industry leaders. ## Citadel's market intervention Citadel's acquisition of Situational Awareness assets sparked a market recovery, particularly benefiting tech stocks. However, the S&P 500 still finished July down 0.1%. This strategic move provided breathing room for other equity-heavy funds facing similar pressures during the turbulent month. ## Other major fund performances Man Group 1783 lost 0.9%, Schonfeld Partners fell 1.8%, and LMR declined 0.6%. North Rock dropped 2.1%, while Walleye's 0.5% loss was the smallest among major funds. While all maintain positive 2026 returns, July's widespread declines served as a warning for the hedge fund industry. ## Challenging period begins for hedge funds July proved difficult for hedge funds amid global market turbulence. Asian economic uncertainties and AI skepticism created new investor risks. The third quarter's opening month performance raises questions about how funds will navigate the remainder of 2026 in these volatile conditions. ## Sources covering this story - https://www.businessinsider.com/july-multistrategy-hedge-fund-performance-2026-8 — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._