{"slug": "rokos-capital-management-and-brevan-howard-report-losses-amid-ai-stock", "title": "Rokos Capital Management and Brevan Howard report losses amid AI stock volatility", "summary": "Rokos Capital Management and Brevan Howard Asset Management, two of London's largest macro hedge funds, reported losses in July as a selloff in AI-related stocks hit their equity overlays and options positions. The damage extended across the industry, with Situational Awareness's AI fund dropping 67%, Whale Rock Capital Management's tech fund falling 21.7%, and Altimeter Capital's AI fund declining 11%.", "body_md": "Via brevanhoward.com\n\n# Rokos Capital Management and Brevan Howard report losses amid AI stock volatility\n\nTwo of London's biggest macro hedge funds got caught in July's AI selloff, joining a growing list of funds nursing wounds from the tech downturn\n\nEven the smart money got burned. Rokos Capital Management and Brevan Howard Asset Management, two of London’s most prominent global macro hedge funds, lost money in July as a brutal selloff in AI-related stocks rippled through portfolios that were supposed to be insulated from exactly this kind of thing.\n\nBoth firms have incorporated tactical equity overlays and options positioning into their strategies, giving them secondary exposure to stocks. When AI names cratered in July, that exposure turned from a nice-to-have into a liability.\n\nThey weren’t alone. The damage across the hedge fund landscape was severe. Situational Awareness’s AI-focused fund dropped a staggering 67% in July. Whale Rock Capital Management’s tech fund fell 21.7%. Altimeter Capital’s AI fund declined 11%.\n\n## Two funds, one family tree\n\nChris Rokos co-founded Brevan Howard before leaving to start his own firm. Rokos Capital Management oversees approximately $22 billion in assets. The fund posted a 21% return in 2025 and a 31% gain in 2023. Brevan Howard, founded in 2002 by Alan Howard, has had a more uneven run, with its flagship fund delivering mixed results amid the macro volatility of 2026.\n\n## When macro meets momentum\n\nMacro funds added equity exposure through options strategies and tactical overlays, essentially bolting a tech growth engine onto a rates-and-volatility chassis. When AI stocks reversed sharply, those same overlays amplified losses in portfolios that investors expected to behave like traditional macro vehicles.\n\n**Disclosure:** This article was edited by Editorial Team. For more information on how we create and review content, see our\n\n[Editorial Policy](https://cryptobriefing.com/editorial-policy/).", "url": "https://wpnews.pro/news/rokos-capital-management-and-brevan-howard-report-losses-amid-ai-stock", "canonical_source": "https://cryptobriefing.com/rokos-brevan-howard-losses-ai-volatility/", "published_at": "2026-08-19 15:31:43+00:00", "updated_at": "2026-08-19 15:41:44.844875+00:00", "lang": "en", "topics": ["artificial-intelligence", "ai-policy"], "entities": ["Rokos Capital Management", "Brevan Howard Asset Management", "Situational Awareness", "Whale Rock Capital Management", "Altimeter Capital", "Chris Rokos", "Alan Howard"], "alternates": {"html": "https://wpnews.pro/news/rokos-capital-management-and-brevan-howard-report-losses-amid-ai-stock", "markdown": "https://wpnews.pro/news/rokos-capital-management-and-brevan-howard-report-losses-amid-ai-stock.md", "text": "https://wpnews.pro/news/rokos-capital-management-and-brevan-howard-report-losses-amid-ai-stock.txt", "jsonld": "https://wpnews.pro/news/rokos-capital-management-and-brevan-howard-report-losses-amid-ai-stock.jsonld"}}