Leopold Aschenbrenner

Situational Awareness LP·growth·Concentrated / activist

Accredited only

~47% (1st yr) since 2024

68% of this fund's disclosed 13F value is options — mostly put options, i.e. bearish or hedge positions, not share ownership. Despite the headline value, Leopold Aschenbrenner is largely betting against these names, not owning them. Positions tagged PUT / CALL below. Only long-stock positions count toward "who owns" on stock pages.

Portfolio value

$13.6B

Positions

Top 5 concentration

50%

New buys this quarter

Quarterly activity

What Leopold Aschenbrenner bought and sold each quarter.

Mar 2026vs Dec 2025

Bought (18)

$SMHputNew buy15.1%$NVDAputNew buy11.5%$ORCLputNew buy7.9%$MUputNew buy7.4%$AVGOputNew buy7.4%$AMDputNew buy7.3%$TSMputNew buy6.6%$ASMLputNew buy3.7%$GLWputNew buy0.2%$SHAZNew buy0.1%$HIVENew buy0%$SNDKAdded+66.2%$IRENAdded+34.5%$APLDAdded+18.9%$RIOTAdded+86.5%$CLSKAdded+648.4%$BITFAdded+188.2%$BTDRAdded+92.4%

Sold (13)

$CIFRSold out$COHRSold out$EQTSold out$HUTSold out$KRCSold out$LBRTSold out$LITESold out$TSEMSold out$INTCputTrimmed-81.2%$CRWVTrimmed-46.8%$SEITrimmed-40.8%$BETrimmed-34.2%$CORZTrimmed-9.6%

Dec 2025vs Sep 2025

Bought (24)

$BENew buy16.5%$LITENew buy8.7%$CIFRNew buy2.8%$KRCNew buy0.9%$WYFINew buy0.5%$PSIXNew buy0.4%$BITFNew buy0.3%$CLSKNew buy0.3%$BWNew buy0.2%$INFYputNew buy0.2%$LBRTNew buy0.2%$PUMPNew buy0.2%$CRWVcallAdded+116%$CORZAdded+42.5%$IRENAdded+20.5%$APLDAdded+87%$SNDKAdded+816.7%$EQTAdded+161.4%$COHRAdded+211.1%$SEIAdded+62.3%$TSEMAdded+53.6%$RIOTAdded+71.7%$HUTAdded+43.6%$BTDRAdded+92.3%

Sold (8)

$AVGOputSold out$GLXYSold out$MUputSold out$NVDAputSold out$STXSold out$TSMputSold out$GDXputSold out$VSTSold out

Sep 2025vs Jun 2025

Bought (16)

$CRWVNew buy27.3%$NVDAputNew buy7.6%$GDXputNew buy5%$GLXYNew buy2.4%$TSMputNew buy1.9%$RIOTNew buy1.7%$MUputNew buy1.3%$SEINew buy1.2%$TSEMNew buy0.9%$HUTNew buy0.5%$BTDRNew buy0.4%$COHRNew buy0.4%$SNDKNew buy0.3%$STXNew buy0.3%$CORZAdded+152.4%$IRENAdded+12.8%

Sold (5)

$SMHputSold out$CEGSold out$AVGOputTrimmed-80.7%$EQTTrimmed-43.3%$APLDTrimmed-8%

Jun 2025vs Mar 2025

Bought (8)

$SMHputNew buy26.9%$AVGOAdded+70.2%$VSTAdded+142.3%$CORZAdded+76.8%$EQTAdded+116.8%$CEGAdded+74%$IRENAdded+90.1%$APLDAdded+63.3%

Sold (4)

$TLNSold out$CRWVSold out$ONTOSold out$MODSold out

Mar 2025vs Dec 2024

Bought (12)

$INTCcallNew buy45.7%$AVGONew buy11.7%$ONTONew buy7.1%$EQTNew buy5.3%$CRWVNew buy4.5%$CORZNew buy3.3%$APLDNew buy2.3%$IRENNew buy2%$VSTAdded+22.7%$MODAdded+980.1%$CEGAdded+90.2%$TLNAdded+6.9%

Sold (2)

$MRVLSold out$VRTSold out

Quarter-over-quarter change in disclosed positions.

Holdings

Stock	Move	% of portfolio	Reported px	Now	Since report
$SMHPut option VANECK ETF TRUST	New buy	15.1%	$383.40	$607.73	+58.5%
$NVDAPut option NVIDIA CORPORATION	New buy	11.5%	$174.40	$202.78	+16.3%
$SNDK SANDISK CORP	Added	8.2%	$635.34	$1858.27	+192.5%
$ORCLPut option ORACLE CORP	New buy	7.9%	$147.11	$144.27	-1.9%
$MUPut option MICRON TECHNOLOGY INC	New buy	7.4%	$337.84	$991.64	+193.5%
$AVGOPut option BROADCOM INC	New buy	7.4%	$309.51	$401.11	+29.6%
$AMDPut option ADVANCED MICRO DEVICES INC	New buy	7.3%	$203.43	$546.72	+168.8%
$BE BLOOM ENERGY CORP	Trimmed	6.9%	$135.49	$257.02	+89.7%
$TSMPut option TAIWAN SEMICONDUCTOR MANUFAC	New buy	6.6%	$337.95	$436.96	+29.3%
$CRWV COREWEAVE INC	Trimmed	5.1%	$77.47	$89.70	+15.8%
$ASMLPut option ASML HLDG NV N Y REGISTRY	New buy	3.7%	$1320.83	$1804.25	+36.6%
$IREN IREN LIMITED	Added	2.9%	$34.28	$41.72	+21.7%
$CORZ CORE SCIENTIFIC INC NEW	Trimmed	2.9%	$14.96	$23.74	+58.7%
$APLD APPLIED DIGITAL CORP	Added	2.3%	$23.74	$32.29	+36%
$INTCPut option INTEL CORP	Trimmed	1.2%	$44.13	$112.54	+155%
$RIOT RIOT PLATFORMS INC	Added	1%	$12.36	$21.51	+74%
$CLSK CLEANSPARK INC	Added	0.8%	$8.51	$12.89	+51.5%
$SEI SOLARIS ENERGY INFRAS INC	Trimmed	0.5%	$56.51	$68.26	+20.8%
$BITF BITFARMS LTD	Added	0.3%	$1.95	$2.16	+10.8%
$BTDR BITDEER TECHNOLOGIES GROUP	Added	0.2%	$8.65	$14.33	+65.7%
$PSIX POWER SOLUTIONS INTL INC	Held	0.2%	$60.88	$34.68	-43%
$GLWPut option CORNING INC	New buy	0.2%	$135.97	$192.53	+41.6%
$WYFI WHITEFIBER INC	Held	0.2%	$11.91	$38.84	+226.1%
$BW BABCOCK & WILCOX ENTERPRISES	Held	0.1%	$14.69	$11.46	-22%
$SHAZ SHARONAI HOLDINGS INC	New buy	0.1%	$22.73	$80.00	+252%
$PUMP PROPETRO HLDG CORP	Held	0.1%	$14.41	$12.80	-11.2%
$INFYPut option INFOSYS LTD	Held	0%	$13.51	$11.13	-17.6%
$HIVE HIVE DIGITAL TECHNOLOGIES LT	New buy	0%	$1.90	$3.36	+76.8%

Notable sell-outs this quarter: $CIFR, $COHR, $EQT, $HUT, $KRC, $LBRT, $LITE, $TSEM

Source: SEC 13F via FMP · Mar 2026 report · 45-day filing delay. Long equity positions only. Not financial advice.