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Leopold Aschenbrenner

Leopold Aschenbrenner Situational Awareness

AUM $13.7B
1-Year Est. Return 334.5%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+17.81%
1 Year Est. Return
+334.5%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$5.52B
AUM Growth
+$1.38B
Cap. Flow
+$2.29B
Cap. Flow %
41.46%
Top 10 Hldgs %
85.96%
Holding
43
New
15
Increased
13
Reduced
–
Closed
14

Top Buys

Rank Stock Value
1
BE icon
Bloom Energy
BE
+$1.06B
2
LITE icon
Lumentum
LITE
+$333M
3
CRWV
CoreWeave
CRWV
+$201M
4
SNDK
Sandisk
SNDK
+$188M
5
CIFR icon
Cipher Digital
CIFR
+$185M

Top Sells

Rank Stock Value
1
VST icon
Vistra
VST
+$252M
2
GLXY
Galaxy Digital Inc
GLXY
+$92.6M
3
STX icon
Seagate
STX
+$11.5M

Sector Composition

Rank Sector Weight
1 Technology 40.86%
2 Industrials 16.47%
3 Financials 8.39%
4 Energy 4.31%
5 Real Estate 0.9%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BE icon
1
Bloom Energy
BE
$52.6B
$876M 15.87%
+10,076,022
New +$1.06B
CRWV
2
CALL
CoreWeave
CRWV
$39.2B
$774M 14.04%
10,814,500
+8,500,000
+367% +$862M
INTC icon
3
CALL
Intel
INTC
$466B
$747M 13.54%
20,237,400
– –
LITE icon
4
Lumentum
LITE
$59.4B
$479M 8.68%
+1,298,400
New +$333M
CRWV
5
CoreWeave
CRWV
$39.2B
$437M 7.92%
6,098,812
+1,983,356
+48% +$201M
CORZ icon
6
Core Scientific
CORZ
$7.23B
$419M 7.59%
28,756,478
+8,575,944
+42% +$150M
IREN icon
7
Iris Energy
IREN
$13.2B
$329M 5.96%
8,700,621
+1,480,200
+21% +$76.4M
APLD icon
8
Applied Digital
APLD
$7.77B
$278M 5.04%
11,339,060
+5,274,905
+87% +$152M
SNDK
9
Sandisk
SNDK
$213B
$250M 4.54%
1,054,200
+939,200
+817% +$188M
CIFR icon
10
Cipher Digital
CIFR
$9.47B
$155M 2.8%
+10,469,093
New +$185M
EQT icon
11
EQT Corp
EQT
$33.2B
$133M 2.41%
2,482,225
+1,264,839
+104% +$71.1M
COHR icon
12
Coherent
COHR
$55.2B
$88.6M 1.61%
480,300
+325,900
+211% +$48.7M
SEI
13
Solaris Energy Infrastructure
SEI
$3.31B
$85.8M 1.56%
1,866,500
+716,200
+62% +$34.6M
TSEM icon
14
Tower Semiconductor
TSEM
$26.4B
$84.9M 1.54%
723,004
+252,404
+54% +$24.3M
RIOT icon
15
Riot Platforms
RIOT
$8.52B
$78.1M 1.42%
6,167,700
+2,575,001
+72% +$44M
KRC icon
16
Kilroy Realty
KRC
$4.58B
$49.6M 0.9%
+1,327,700
New +$54.3M
HUT
17
Hut 8
HUT
$12.4B
$39.5M 0.72%
860,200
+261,200
+44% +$11.5M
EQT icon
18
CALL
EQT Corp
EQT
$33.2B
$37.5M 0.68%
+700,000
New +$39.3M
BE icon
19
CALL
Bloom Energy
BE
$52.6B
$35.5M 0.64%
+408,500
New +$42.9M
WYFI
20
WhiteFiber Inc
WYFI
$912M
$27.8M 0.5%
+1,757,600
New +$43.5M
PSIX
21
Power Solutions International
PSIX
$691M
$24.7M 0.45%
+432,300
New +$30.9M
BTDR icon
22
Bitdeer Technologies
BTDR
$2.81B
$20M 0.36%
1,788,000
+858,400
+92% +$13.8M
CLSK icon
23
CleanSpark
CLSK
$3.73B
$16.6M 0.3%
+1,640,400
New +$24.6M
KEEL
24
Keel Infrastructure Corp
KEEL
$2.57B
$16.2M 0.29%
+6,897,100
New +$23.6M
LBRT icon
25
Liberty Energy
LBRT
$2.83B
$10.5M 0.19%
+567,200
New +$9.48M
1
2

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Leopold Aschenbrenner's Q4 2025 Portfolio in Review

As of Q4 2025, Leopold Aschenbrenner held 43 positions worth $5.52B, up 33% from $4.14B the previous quarter. Its ten largest holdings account for 86% of the portfolio.

Leopold Aschenbrenner deployed $2.29B of net new capital in Q4 2025, opening 15 new positions and adding to 13 existing holdings. Its largest new stake was Bloom Energy: 10,076,022 shares worth $876M.

By sector, the portfolio is most concentrated in Technology at 41% of assets, up from 28% a quarter earlier, followed by Industrials and Financials.

On the sell side, the most notable exit was Vistra, an estimated $252M sold.

  • Leopold Aschenbrenner's largest Q4 2025 buy was Bloom Energy: 10,076,022 shares worth $876M.
  • Leopold Aschenbrenner added most to CoreWeave in Q4 2025, an estimated $201M increase.
  • Leopold Aschenbrenner fully exited Vistra in Q4 2025, selling an estimated $252M.
  • Leopold Aschenbrenner's ten largest holdings make up 86% of its $5.52B portfolio in Q4 2025.
  • Leopold Aschenbrenner opened 15 new positions and closed 14 in Q4 2025.
  • Leopold Aschenbrenner's portfolio value rose 33% quarter-over-quarter to $5.52B.

Based on Situational Awareness's 13F filing for Q4 2025, filed 11 Feb 2026.