Whale Rock Capital Management’s flagship fund fell 21.7% in July, cutting its 2026 gains roughly in half as AI and semiconductor stocks sold off. Year-to-date performance dropped from 72.5% at end of June to 35.1% by July, according to a source familiar with the matter. The firm’s long-only fund also declined 18.8% last month, with positions in SanDisk, Bloom Energy and CoreWeave hit hard by a broad memory sector selloff. Leopold Aschenbrenner’s Situational Awareness fund posted a 67% loss in July, the sharpest hedge fund drawdown that month, following a forced unwind of its stock book.
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