AI Stock Selloff Dents Hedge Funds Balyasny and Verition in July

Multi-strategy hedge funds Balyasny Asset Management and Verition Fund Management both posted losses last month, hurt by a selloff in artificial intelligence stocks. Balyasny fell 1.5% in July, trimming its year-to-date return to 1.2%, while Verition dropped 1.1%, lowering its 2026 gain to 4.5%, according to people familiar with the matter who asked not to be identified because the figures are private. Not all funds suffered: Citadel's flagship Wellington fund rose 5.9% in July, helped by taking on positions from Situational Awareness. ExodusPoint Capital Management slipped 0.9% but remains up 3.5% for the year. Bloomberg reported the figures.