Leopold Aschenbrenner Situational Awareness
Leopold Aschenbrenner is the founder of Situational Awareness, an investment firm focused on artificial intelligence and the companies positioned to benefit from its rapid advancement. A former researcher on OpenAI’s superalignment team, he gained wide attention for his essay series “Situational Awareness: The Decade Ahead,” which lays out his thesis on the trajectory of AI toward artificial general intelligence. His investment philosophy is built around this conviction, concentrating capital in firms across the AI supply chain, from chipmakers to power and infrastructure providers.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Micron Technology
MU
|
+$3.61B |
| 2 |
Sandisk
SNDK
|
+$1.93B |
| 3 |
TSMC
TSM
|
+$1.07B |
| 4 |
Nebius Group N.V.
NBIS
|
+$884M |
| 5 |
STMicroelectronics
STM
|
+$469M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Iris Energy
IREN
|
+$116M |
| 2 |
Bloom Energy
BE
|
+$54.5M |
| 3 |
T1 Energy
TE
|
+$36.3M |
| 4 |
Power Solutions International
PSIX
|
+$26.3M |
| 5 |
Advanced Micro Devices
AMD
|
+$20.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 77.71% |
| 2 | Industrials | 9.75% |
| 3 | Communication Services | 6.09% |
| 4 | Financials | 5.5% |
| 5 | Energy | 0.59% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
Cerebras Systems
CBRS
$22.9B
| $2.21M | 0.01% |
+10,000
| New | +$2.35M |
2026 Q2
0 quarters
|
|
|
27
Advanced Micro Devices
AMD
$762B
| – | – |
-99,138
| Closed | -$20.2M | – |
|
|
28
PUT
Advanced Micro Devices
AMD
$762B
| – | – |
-4,764,100
| Closed | -$969M | – |
|
29
ASML
ASML
$588B
| – | – |
-4,633
| Closed | -$6.12M | – |
|
|
30
PUT
ASML
ASML
$588B
| – | – |
-374,100
| Closed | -$494M | – |
|
31
PUT
Broadcom
AVGO
$1.54T
| – | – |
-3,251,100
| Closed | -$1.01B | – |
|
32
Corning
GLW
$106B
| – | – |
-5,283
| Closed | -$718K | – |
|
|
33
PUT
Corning
GLW
$106B
| – | – |
-154,600
| Closed | -$21M | – |
|
34
Intel
INTC
$319B
| – | – |
-202,344
| Closed | -$8.93M | – |
|
|
35
PUT
Intel
INTC
$319B
| – | – |
-3,605,400
| Closed | -$159M | – |
|
|
36
CALL
Micron Technology
MU
$943B
| – | – |
-1,250,000
| Closed | -$422M | – |
|
|
37
PUT
Micron Technology
MU
$943B
| – | – |
-1,727,700
| Closed | -$584M | – |
|
38
NVIDIA
NVDA
$4.88T
| – | – |
-2,855
| Closed | -$498K | – |
|
|
39
PUT
NVIDIA
NVDA
$4.88T
| – | – |
-8,992,300
| Closed | -$1.57B | – |
|
40
PUT
Oracle
ORCL
$361B
| – | – |
-7,293,000
| Closed | -$1.07B | – |
|
41
VanEck Semiconductor ETF
SMH
$65.1B
| – | – |
-26,950
| Closed | -$10.3M | – |
|
|
42
PUT
VanEck Semiconductor ETF
SMH
$65.1B
| – | – |
-5,327,900
| Closed | -$2.04B | – |
|
|
43
PUT
TSMC
TSM
$2.07T
| – | – |
-1,583,400
| Closed | -$535M | – |
|
|
44
Power Solutions International
PSIX
$1.07B
| – | – |
-432,300
| Closed | -$26.3M | – |
|
|
45
CALL
Sandisk
SNDK
$155B
| – | – |
-611,900
| Closed | -$389M | – |
|
46
CALL
CoreWeave
CRWV
$27.7B
| – | – |
-1,814,500
| Closed | -$141M | – |
|
Similar funds
Leopold Aschenbrenner's Q2 2026 Portfolio in Review
As of Q2 2026, Leopold Aschenbrenner held 46 positions worth $20.2B, up 48% from $13.7B the previous quarter. Its ten largest holdings account for 92% of the portfolio.
Leopold Aschenbrenner deployed $8.27B of net new capital in Q2 2026, opening 4 new positions and adding to 12 existing holdings. Its largest new stake was Nebius Group N.V.: 4,464,260 shares worth $1.23B.
By sector, the portfolio is most concentrated in Technology at 78% of assets, up from 16% a quarter earlier, followed by Industrials and Communication Services.
On the sell side, the largest reduction was Iris Energy, an estimated $116M trimmed.
- Leopold Aschenbrenner's largest Q2 2026 buy was Nebius Group N.V.: 4,464,260 shares worth $1.23B.
- Leopold Aschenbrenner added most to Micron Technology in Q2 2026, an estimated $3.61B increase.
- Leopold Aschenbrenner's biggest Q2 2026 reduction was Iris Energy, cutting an estimated $116M.
- Leopold Aschenbrenner fully exited Power Solutions International in Q2 2026, selling an estimated $26.3M.
- Leopold Aschenbrenner's ten largest holdings make up 92% of its $20.2B portfolio in Q2 2026.
- Leopold Aschenbrenner opened 4 new positions and closed 20 in Q2 2026.
- Leopold Aschenbrenner's portfolio value rose 48% quarter-over-quarter to $20.2B.
Based on Situational Awareness's 13F filing for Q2 2026, filed 14 Aug 2026.