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Altimeter Capital Management hedge fund drops 11% in July
The July decline comes amid a sharp reversal in AI related stocks that rattled hedge fund portfolios, according to the cited reporting.
Altimeter Capital Managements hedge fund fell 11% in July, adding to a broader list of investment firms reporting double digit losses for the month, according to Hedgeweek citing Bloomberg.
The report attributes the slide to a sharp reversal in AI related stocks, which disrupted hedge fund portfolios exposed to that sector.
Altimeter was among the biggest July hedge fund losers highlighted in the coverage.
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