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 |
Vistra
VST
|
+$111M |
| 2 |
Broadcom
AVGO
|
+$107M |
| 3 |
EQT Corp
EQT
|
+$62.4M |
| 4 |
Constellation Energy
CEG
|
+$35.9M |
| 5 |
Core Scientific
CORZ
|
+$34.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Onto Innovation
ONTO
|
+$71.2M |
| 2 |
Modine Manufacturing
MOD
|
+$55M |
| 3 |
CRWV
CoreWeave
CRWV
|
+$45.4M |
| 4 |
TLN
Talen Energy Corp
TLN
|
+$29.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.03% |
| 2 | Utilities | 16.48% |
| 3 | Energy | 5.89% |
| 4 | Financials | 4.39% |
| 5 | Consumer Discretionary | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
VanEck Semiconductor ETF
SMH
$67.6B
| $570M | 26.85% |
+2,044,100
| New | +$474M |
|
2
CALL
Intel
INTC
$466B
| $453M | 21.35% |
20,237,400
| – | – |
|
|
3
Broadcom
AVGO
$1.82T
| $328M | 15.47% |
1,191,606
+491,606
| +70% | +$107M |
|
|
4
Vistra
VST
$55.1B
| $247M | 11.63% |
1,274,178
+748,332
| +142% | +$111M |
|
|
5
Core Scientific
CORZ
$7.23B
| $136M | 6.43% |
7,994,038
+3,472,460
| +77% | +$34.7M |
|
|
6
EQT Corp
EQT
$33.2B
| $125M | 5.89% |
2,145,345
+1,155,947
| +117% | +$62.4M |
|
|
7
Constellation Energy
CEG
$98B
| $103M | 4.85% |
319,200
+135,800
| +74% | +$35.9M |
|
8
Iris Energy
IREN
$13.2B
| $93.3M | 4.39% |
6,400,384
+3,034,254
| +90% | +$24.6M |
|
9
Applied Digital
APLD
$7.77B
| $66.4M | 3.13% |
6,591,800
+2,556,200
| +63% | +$18.9M |
|
|
10
Modine Manufacturing
MOD
$12.8B
| – | – |
-716,824
| Closed | -$55M |
|
|
11
Onto Innovation
ONTO
$13.6B
| – | – |
-586,717
| Closed | -$71.2M |
|
|
TLN
12
Talen Energy Corp
TLN
$17.2B
| – | – |
-148,395
| Closed | -$29.6M |
|
|
CRWV
13
CoreWeave
CRWV
$39.2B
| – | – |
-1,225,000
| Closed | -$45.4M |
|
Similar funds
Leopold Aschenbrenner's Q2 2025 Portfolio in Review
As of Q2 2025, Leopold Aschenbrenner held 13 positions worth $2.12B, up 111% from $1.01B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Leopold Aschenbrenner deployed $667M of net new capital in Q2 2025, opening 1 new position and adding to 7 existing holdings.
By sector, the portfolio is most concentrated in Technology at 25% of assets, down from 29% a quarter earlier, followed by Utilities and Energy.
On the sell side, the most notable exit was Onto Innovation, an estimated $71.2M sold.
- Leopold Aschenbrenner added most to Vistra in Q2 2025, an estimated $111M increase.
- Leopold Aschenbrenner fully exited Onto Innovation in Q2 2025, selling an estimated $71.2M.
- Leopold Aschenbrenner's ten largest holdings make up 100% of its $2.12B portfolio in Q2 2025.
- Leopold Aschenbrenner opened 1 new position and closed 4 in Q2 2025.
- Leopold Aschenbrenner's portfolio value rose 111% quarter-over-quarter to $2.12B.
Based on Situational Awareness's 13F filing for Q2 2025, filed 14 Aug 2025.