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Leopold Aschenbrenner portfolio · Situational Awareness LP 13F

Situational Awareness LP

Founder · former OpenAI Superalignment researcher

SEC EDGAR · 13F-HRLast filed Aug 14, 2026 · Q2 2026 View source filings

Disclosed-holdings index since Q1 2025

+105.5%

S&P +28.1% · beat by 77.3%

Holdings

25

in Q2 2026

Q2 2026 value

$20.24B

latest disclosed

Situational Awareness LP's latest 13F filing (Q2 2026, filed Aug 14, 2026) discloses 25 U.S.-listed positions worth $20.2B. The largest position is SNDK. Compared with Q1 2026: New: NBIS, STM, KEEL, VSH and 1 more. Exited: MU calls, SNDK calls, CRWV calls, BITF and 7 more. Since Q1 2025, a hypothetical price-return mirror of the disclosed holdings is up 105%, vs 28% for the S&P 500 over the same span.

What changed in Q2 2026

vs Q1 2026 · filed Aug 14, 2026

New positions 5

  • NBIS$1.23B
  • STM$584M
  • KEEL$152M
  • VSH$20M

Exited 11

  • MUcalls$422M
  • SNDKcalls$389M
  • CRWVcalls$141M
  • BITF$39M

Added to 11

  • MU+>10×
  • SNDK+119%
  • TSM+>10×
  • SHAZ+578%

Trimmed 3

  • IREN−19%
  • BE−3.3%
  • TE−51%

Situational Awareness LP disclosed-holdings performance vs the S&P 500

Hypothetical price-return of Aschenbrenner's disclosed holdings, equal-exposure-capped at 30% per position, indexed to 0% at the first filing in view, vs the S&P 500. Not their actual return (excludes trade timing, position sizing, fees, dividends, and cash).

Leopold Aschenbrenner portfolio allocation

  • SNDKSANDISK CORP28.0%
  • MUMicron Technology Inc27.5%
  • BEBloom Energy Corp9.4%
  • TSMTAIWAN SEMICONDUCTOR-SP ADR6.3%
  • NBISNebius Group N.V.6.1%
  • CRWVCoreWeave Inc3.7%
  • CORZCore Scientific Inc3.3%
  • Other18 smaller positions15.7%

What this view can't show you

  • 45-day disclosure lag: positions are reported up to 45 days after each quarter ends; the manager may have rotated by the time you see them.
  • Long-only disclosure: short positions are not reported. Puts are shown at notional, not the premium paid.
  • Options excluded from the % line: the performance line tracks the disclosed stock holdings only; puts and calls are left out. Long calls still count toward the portfolio-value figure and the allocation donut; put notional is excluded from both.
  • Disclosed value ≠ performance: growth in disclosed value reflects market moves, new investor capital, and new buys; it is not pure returns.
  • Index caps each position at 30%: the performance line holds no single name above 30% (the rest as cash), so one outsized pick can’t dominate the return. The allocation donut shows the true disclosed weight, which may be higher.

Leopold Aschenbrenner's biggest wins & losses

Wins
  • BEBloom Energy Corp
    Bought ~$86.89 →Now $235.55
    +171%
  • IRENIREN Ltd (Iris Energy)
    Bought ~$22.39 →Now $41.65
    +86.1%
  • APLDApplied Digital Corp
    Bought ~$16.32 →Now $25.91
    +58.8%
  • CLSKCleanSpark Inc
    Bought ~$8.73 →Now $12.58
    +44.2%
  • SEISOLARIS ENERGY INFRASTRUCTUR
    Bought ~$42.76 →Now $53.17
    +24.3%
Losses
  • VSHVISHAY INTERTECHNOLOGY INC
    Bought ~$53.78 →Now $30.45
    -43.4%
  • KEELKEEL INFRASTRUCTURE CORP
    Bought ~$5.74 →Now $3.35
    -41.6%
  • STMSTMICROELECTRONICS NV-NY SHS
    Bought ~$74.89 →Now $51.28
    -31.5%
  • SHAZSHARONAI HOLDINGS INC
    Bought ~$75.52 →Now $54.97
    -27.2%
  • NBISNebius Group N.V.
    Bought ~$276.17 →Now $210.63
    -23.7%

Avg buy price is estimated from the share-change history across 13F filings (quarter-end closes, split-adjusted), not the actual fill. Current is the latest close.

Leopold Aschenbrenner portfolio holdings

Q2 2026 · 25 holdings
TICKERISSUERVALUEWEIGHT Quarter Change DISCLOSED
SNDK
SANDISK CORP$5.67B28.0% 14.2%Disclosed Aug 14, 2026
MU
Micron Technology Inc$5.57B27.5% 27.4%Disclosed Aug 14, 2026
BE
Bloom Energy Corp$1.90B9.4% 7.5%Disclosed Aug 14, 2026
TSM
TAIWAN SEMICONDUCTOR-SP ADR$1.27B6.3% 6.1%Disclosed Aug 14, 2026
NBIS
Nebius Group N.V.$1.23B6.1% —Disclosed Aug 14, 2026
CRWV
CoreWeave Inc$744.52M3.7% 7.0%Disclosed Aug 14, 2026
CORZ
Core Scientific Inc$665.56M3.3% 4.2%Disclosed Aug 14, 2026
STM
STMICROELECTRONICS NV-NY SHS$584.34M2.9% —Disclosed Aug 14, 2026
APLD
Applied Digital Corp$469.02M2.3% 3.8%Disclosed Aug 14, 2026
RIOT
Riot Platforms Inc$468.20M2.3% 0.4%Disclosed Aug 14, 2026
1–10 of 25
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Latest Situational Awareness LP 13F filings

  • Aug 14, 202613F-HR · Q2 2026
    26 holdings Source
  • May 18, 202613F-HR · Q1 2026
    42 holdings Source
  • Feb 11, 202613F-HR · Q4 2025
    29 holdings Source
  • Nov 14, 202513F-HR · Q3 2025
    28 holdings Source
  • Aug 14, 202513F-HR · Q2 2025
    9 holdings Source
  • May 14, 202513F-HR · Q1 2025
    12 holdings Source
  • Feb 12, 202513F-HR · Q4 2024
    6 holdings Source

Frequently asked questions

What is Situational Awareness LP?
Situational Awareness LP is the AI-focused hedge fund founded by Leopold Aschenbrenner, a former OpenAI researcher and author of the 2024 "Situational Awareness" essay series. As an institutional manager it must disclose its U.S.-listed positions quarterly on SEC Form 13F.
What are Situational Awareness LP's biggest holdings?
As of the Q2 2026 13F, the largest disclosed long positions are SNDK, MU, and BE. The table above lists every disclosed holding with values and portfolio weights.
Does Leopold Aschenbrenner hold puts on chipmakers?
The Q2 2026 filing discloses $5M in notional put-option exposure alongside the long book. A put's 13F value is the notional amount of the underlying, not the dollars paid or at risk.
Where does this portfolio data come from?
This data is sourced from SEC 13F-HR filings submitted to EDGAR. Fund managers with over $100 million in qualifying assets are required to disclose their long equity positions within 45 days of each quarter end.
How often is this portfolio updated?
Quarterly. Each 13F-HR filing covers one quarter-end snapshot and is due to the SEC within 45 days after the quarter closes (e.g., by May 15 for Q1). Tracefour updates automatically when a new filing appears on EDGAR.
Does this show all of the manager's positions?
13F filings cover U.S.-listed equities, options, and convertibles valued above $10,000, long positions only. They do not include short positions, foreign-listed securities, private equity, bonds, cash, or futures.
Is this data free?
Yes. All data is sourced from public SEC EDGAR filings. There is no subscription or paywall on Tracefour.

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Data sourced from public SEC EDGAR, U.S. Congress, and OGE disclosures. Not investment advice.