DE Shaw’s $60bn hedge fund platform saw a sharp late-month rebound in July, with its macro-focused Oculus fund surging 4.6% in the final week to finish the up 4.4% for the month, according to a report by Bloomberg citing an investor letter.

The rally more than doubled Oculus’s year-to-date return to 9.6%.

The firm’s flagship multi-strategy Composite fund also made all of its July gains in the last week, rising 1.5% for the month and bringing 2025 performance to 9.3%. DE Shaw declined to comment on the drivers behind the late turnaround.

The rebound came in an otherwise mixed month for hedge funds. Melqart led July performers with a 7.4% gain, bringing its YTD return to 21.8%, followed by Arini (+3.3% in July, +13.5% YTD) and Rokos (+1.4%, +13.7% YTD). By contrast, Brevan Howard’s Master fund fell 1.8% in July to sit 2.4% lower on the year.