Situational Awareness LP

Managed by Leopold Aschenbrenner

AUM (est, delta-adj)

$20.2B

23 positions · 46d ago · equity $20.2B + options ½×notional

Long / Short exposure

$20.2B / $3M

net +$20.2B long

Portfolio growth

+179.9%

$100 → $280 over 7 qtrs

Last qtr return

+5.0%

2026-08-14 → today

Ann. return (CAGR)

+88.3%

2025-02-12 → today · 1.6y

Portfolio value — $100 invested, rebalanced at each filing — daily close prices · dashed lines = quarterly filings

Holdings performance since latest filing (2026-08-14) — top 12 positions indexed to 100 at filing date

Portfolio composition over time — weight % per filing date

Quarterly return attribution — delta-adjusted contribution (equity + calls + puts)

Portfolio composition

Long book

Short book

Current holdings as of 2026-08-14 · baseline 2026-08-14 · returns to today

Ticker	Company	Shares	Value	Net %	Gross %	Δ vs prev	Filing price	Current price	Since filing
SNDK	Sandisk Corp	2.5M	$5.7B	28.1%	28.1%	+73%	$1528.11	$1712.89	+12.1%
MU	Micron Technology Inc	4.8M	$5.6B	27.6%	27.6%	+23x	$949.83	$1053.98	+11.0%
BE EQ+CALL ▸	Bloom Energy Corp	6.3M to 6.4M	$1.9B to $1.9B	9.5%	9.5%	-5%	$236.22	$262.87	+11.3%
BE EQUITY	equity	6.3M	$1.9B				$236.22	$262.87	+11.3%
BE CALL ×0.5	call	146K	$44M				$236.22	$262.87	+11.3%
TSM EQ+CALL ▸	Taiwan Semiconductor Manufac	2.7M to 2.7M	$1.3B to $1.3B	6.3%	6.3%	+12x	$430.49	$452.88	+5.2%
TSM EQUITY	equity	2.6M	$1.3B				$430.49	$452.88	+5.2%
TSM CALL ×0.5	call	50K	$24M				$430.49	$452.88	+5.2%
NBIS	Nebius Group N.V.	4.5M	$1.2B	6.1%	6.1%	NEW	$255.04	$231.88	-9.1%
CRWV	Coreweave Inc	7.5M	$745M	3.7%	3.7%	-7%	$106.29	$85.07	-20.0%
CORZ	Core Scientific Inc New	26.0M	$666M	3.3%	3.3%	+0%	$19.78	$16.52	-16.5%
STM	Stmicroelectronics	7.8M	$584M	2.9%	2.9%	NEW	$54.29	$52.74	-2.9%
APLD	Applied Digital Corp	15.4M	$469M	2.3%	2.3%	+14%	$30.62	$24.53	-19.9%
RIOT	Riot Platforms Inc	17.1M	$468M	2.3%	2.3%	+49%	$19.21	$21.62	+12.6%
SHAZ	Sharonai Holdings Inc	5.4M	$457M	2.3%	2.3%	+578%	$72.02	$52.91	-26.5%
IREN	Iren Limited	9.5M	$433M	2.1%	2.1%	-19%	$44.76	$41.72	-6.8%
CLSK	Cleanspark Inc	12.3M	$179M	0.9%	0.9%	+0%	$11.52	$13.34	+15.8%
KEEL	Keel Infrastructure Corp	26.5M	$152M	0.8%	0.8%	NEW	$3.51	$3.60	+2.6%
SEI	Solaris Energy Infras Inc	1.1M	$91M	0.4%	0.4%	+2%	$59.90	$69.15	+15.4%
WYFI	Whitefiber Inc	1.8M	$68M	0.3%	0.3%	+0%	$28.22	$18.83	-33.3%
BTDR	Bitdeer Technologies Group	3.4M	$55M	0.3%	0.3%	+0%	$8.76	$11.03	+25.9%
TE	T1 Energy Inc	4.9M	$46M	0.2%	0.2%	-51%	$4.79	$3.57	-25.5%
HIVE	Hive Digital Technologies Lt	9.1M	$33M	0.2%	0.2%	+169%	$2.58	$3.04	+17.8%
BW	Babcock & Wilcox Enterprises	2.0M	$29M	0.1%	0.1%	+50%	$9.35	$5.75	-38.5%
PUMP	Propetro Hldg Corp	2.0M	$28M	0.1%	0.1%	+115%	$11.54	$9.30	-19.4%
VSH	Vishay Intertechnology Inc	375K	$20M	0.1%	0.1%	NEW	$35.08	$32.23	-8.1%
INFY PUT	Infosys Ltd	-475K to -25K	-$5M to -$262K	-0.0%	0.0%	+0%	$12.09	$10.52	-13.0%
CBRS	Cerebras Systems Inc	10K	$2M	0.0%	0.0%	NEW	$218.98	$196.74	-10.2%

Quarterly history — click to expand · Δ = change vs prior quarter · return is that quarter's period

Returns: 2026-08-14 → today

Ticker	Company	Shares	Value	Weight	Δ shares vs prev	Qtr return
SNDK	Sandisk Corp	2.5M	$5.7B	28.0%	+119%	+12.1%
MU	Micron Technology Inc	4.8M	$5.6B	27.5%	+277x	+11.0%
BE EQ+CALL ▸	Bloom Energy Corp	6.3M	$1.9B	9.6%	-5%	+11.3%
BE EQUITY	equity	6.3M	$1.9B	9.4%	-3%	+11.3%
BE CALL ×0.5	call · calls ×0.5, puts ×−0.5	146K	$44M	0.2%	-64%	—
TSM EQ+CALL ▸	Taiwan Semiconductor Manufac	2.7M	$1.3B	6.4%	+12x	+5.2%
TSM EQUITY	equity	2.6M	$1.3B	6.2%	+117x	+5.2%
TSM CALL ×0.5	call · calls ×0.5, puts ×−0.5	50K	$24M	0.1%	-95%	—
NBIS	Nebius Group N.V.	4.5M	$1.2B	6.1%	NEW	-9.1%
CRWV	Coreweave Inc	7.5M	$745M	3.7%	+4%	-20.0%
CORZ	Core Scientific Inc New	26.0M	$666M	3.3%	+0%	-16.5%
STM	Stmicroelectronics	7.8M	$584M	2.9%	NEW	-2.9%
APLD	Applied Digital Corp	15.4M	$469M	2.3%	+14%	-19.9%
RIOT	Riot Platforms Inc	17.1M	$468M	2.3%	+49%	+12.6%
SHAZ	Sharonai Holdings Inc	5.4M	$457M	2.3%	+578%	-26.5%
IREN	Iren Limited	9.5M	$433M	2.1%	-19%	-6.8%
CLSK	Cleanspark Inc	12.3M	$179M	0.9%	+0%	+15.8%
KEEL	Keel Infrastructure Corp	26.5M	$152M	0.8%	NEW	+2.6%
SEI	Solaris Energy Infras Inc	1.1M	$91M	0.4%	+2%	+15.4%
WYFI	Whitefiber Inc	1.8M	$68M	0.3%	+0%	-33.3%
BTDR	Bitdeer Technologies Group	3.4M	$55M	0.3%	+0%	+25.9%
TE	T1 Energy Inc	4.9M	$46M	0.2%	-51%	-25.5%
HIVE	Hive Digital Technologies Lt	9.1M	$33M	0.2%	+169%	+17.8%
BW	Babcock & Wilcox Enterprises	2.0M	$29M	0.1%	+50%	-38.5%
PUMP	Propetro Hldg Corp	2.0M	$28M	0.1%	+115%	-19.4%
VSH	Vishay Intertechnology Inc	375K	$20M	0.1%	NEW	-8.1%
INFY PUT	Infosys Ltd	500K	$5M	0.0%	+0%	-13.0%
CBRS	Cerebras Systems Inc	10K	$2M	0.0%	NEW	-10.2%

Returns: 2026-05-18 → 2026-08-14

Ticker	Company	Shares	Value	Weight	Δ shares vs prev	Qtr return
SMH EQ+PUT ▸	Vaneck Etf Trust	-2.6M	-$1.0B	15.0%	NEW	+5.9%
SMH EQUITY	equity	27K	$10M	0.1%	NEW	+5.9%
SMH PUT ×-0.5	put · calls ×0.5, puts ×−0.5	5.3M	$2.0B	14.9%	NEW	—
NVDA EQ+PUT ▸	Nvidia Corporation	-4.5M	-$784M	11.5%	NEW	-0.0%
NVDA EQUITY	equity	3K	$498K	0.0%	NEW	-0.0%
NVDA PUT ×-0.5	put · calls ×0.5, puts ×−0.5	9.0M	$1.6B	11.5%	NEW	—
SNDK EQ+CALL ▸	Sandisk Corp	1.4M	$919M	8.1%	+37%	+8.6%
SNDK EQUITY	equity	1.1M	$724M	5.3%	+8%	+8.6%
SNDK CALL ×0.5	call · calls ×0.5, puts ×−0.5	612K	$389M	2.8%	NEW	—
ORCL PUT	Oracle Corp	7.3M	$1.1B	7.8%	NEW	-19.0%
MU EQ+CALL+PUT ▸	Micron Technology Inc	-221K	-$75M	7.4%	NEW	+31.1%
MU EQUITY	equity	17K	$6M	0.0%	NEW	+31.1%
MU CALL ×0.5	call · calls ×0.5, puts ×−0.5	1.2M	$422M	3.1%	NEW	—
MU PUT ×-0.5	put · calls ×0.5, puts ×−0.5	1.7M	$584M	4.3%	NEW	—
AVGO PUT	Broadcom Inc	3.3M	$1.0B	7.4%	NEW	-1.7%
AMD EQ+PUT ▸	Advanced Micro Devices Inc	-2.3M	-$464M	7.2%	NEW	+13.9%
AMD EQUITY	equity	99K	$20M	0.1%	NEW	+13.9%
AMD PUT ×-0.5	put · calls ×0.5, puts ×−0.5	4.8M	$969M	7.1%	NEW	—
BE EQ+CALL ▸	Bloom Energy Corp	6.7M	$906M	6.8%	-35%	-14.4%
BE EQUITY	equity	6.5M	$879M	6.4%	-36%	-14.4%
BE CALL ×0.5	call · calls ×0.5, puts ×−0.5	408K	$55M	0.4%	+0%	—
TSM EQ+CALL+PUT ▸	Taiwan Semiconductor Manufac	-244K	-$83M	6.6%	NEW	+6.5%
TSM EQUITY	equity	22K	$8M	0.1%	NEW	+6.5%
TSM CALL ×0.5	call · calls ×0.5, puts ×−0.5	1.1M	$355M	2.6%	NEW	—
TSM PUT ×-0.5	put · calls ×0.5, puts ×−0.5	1.6M	$535M	3.9%	NEW	—
CRWV EQ+CALL ▸	Coreweave Inc	8.1M	$626M	5.1%	-30%	-0.9%
CRWV EQUITY	equity	7.2M	$556M	4.1%	+18%	-0.9%
CRWV CALL ×0.5	call · calls ×0.5, puts ×−0.5	1.8M	$141M	1.0%	-83%	—
ASML EQ+PUT ▸	Asml Hldg Nv N Y Registry	-182K	-$241M	3.7%	NEW	+25.5%
ASML EQUITY	equity	5K	$6M	0.0%	NEW	+25.5%
ASML PUT ×-0.5	put · calls ×0.5, puts ×−0.5	374K	$494M	3.6%	NEW	—
IREN	Iren Limited	11.7M	$401M	2.9%	+34%	-15.4%
CORZ	Core Scientific Inc New	26.0M	$389M	2.8%	-10%	-18.3%
APLD	Applied Digital Corp	13.5M	$320M	2.3%	+19%	-28.1%
INTC EQ+PUT ▸	Intel Corp	-1.6M	-$71M	1.2%	-116%	-3.9%
INTC EQUITY	equity	202K	$9M	0.1%	+202343x	-3.9%
INTC PUT ×-0.5	put · calls ×0.5, puts ×−0.5	3.6M	$159M	1.2%	NEW	—
RIOT	Riot Platforms Inc	11.5M	$142M	1.0%	+86%	-18.2%
CLSK	Cleanspark Inc	12.3M	$104M	0.8%	+648%	-12.1%
SEI	Solaris Energy Infras Inc	1.1M	$62M	0.5%	-41%	-23.8%
TE	T1 Energy Inc	10.0M	$44M	0.3%	NEW	-15.5%
1B2	Bitfarms Ltd	19.9M	$39M	0.3%	+188%	—
BTDR	Bitdeer Technologies Group	3.4M	$30M	0.2%	+92%	-34.4%
PSIX	Power Solutions Intl Inc	432K	$26M	0.2%	+0%	+6.0%
GLW EQ+PUT ▸	Corning Inc	-72K	-$10M	0.2%	NEW	-17.4%
GLW EQUITY	equity	5K	$718K	0.0%	NEW	-17.4%
GLW PUT ×-0.5	put · calls ×0.5, puts ×−0.5	155K	$21M	0.2%	NEW	—
WYFI	Whitefiber Inc	1.8M	$21M	0.2%	+0%	+16.6%
BW	Babcock & Wilcox Enterprises	1.4M	$20M	0.1%	+0%	-57.2%
SHAZ	Sharonai Holdings Inc	796K	$18M	0.1%	NEW	+33.5%
PUMP	Propetro Hldg Corp	910K	$13M	0.1%	+0%	-33.9%
INFY PUT	Infosys Ltd	500K	$7M	0.0%	+0%	+0.2%
HIVE	Hive Digital Technologies Lt	3.4M	$6M	0.0%	NEW	-4.1%

Returns: 2026-02-11 → 2026-05-18

Ticker	Company	Shares	Value	Weight	Δ shares vs prev	Qtr return
CRWV EQ+CALL ▸	Coreweave Inc	11.5M	$824M	22.0%	+152%	+12.8%
CRWV EQUITY	equity	6.1M	$437M	7.9%	+48%	+12.8%
CRWV CALL ×0.5	call · calls ×0.5, puts ×−0.5	10.8M	$774M	14.0%	+367%	—
BE EQ+CALL ▸	Bloom Energy Corp	10.3M	$893M	16.5%	+229%	+77.4%
BE EQUITY	equity	10.1M	$876M	15.9%	+231%	+77.4%
BE CALL ×0.5	call · calls ×0.5, puts ×−0.5	408K	$35M	0.6%	+180%	—
INTC EQ+CALL ▸	Intel Corp	10.1M	$373M	13.5%	+0%	+125.2%
INTC EQUITY	equity	1	$0K	0.0%	NEW	+125.2%
INTC CALL ×0.5	call · calls ×0.5, puts ×−0.5	20.2M	$747M	13.5%	+0%	—
LITE	Lumentum Hldgs Inc	1.3M	$479M	8.7%	+211%	+69.1%
CORZ	Core Scientific Inc New	28.8M	$419M	7.6%	+42%	+33.8%
IREN	Iren Limited	8.7M	$329M	6.0%	+21%	+24.1%
APLD	Applied Digital Corp	11.3M	$278M	5.0%	+87%	+16.3%
SNDK	Sandisk Corp	1.1M	$250M	4.5%	+817%	+134.9%
EQT EQ+CALL ▸	Eqt Corp	2.8M	$152M	3.1%	+133%	-0.7%
EQT EQUITY	equity	2.5M	$133M	2.4%	+104%	-0.7%
EQT CALL ×0.5	call · calls ×0.5, puts ×−0.5	700K	$38M	0.7%	NEW	—
CIFR	Cipher Mining Inc	10.5M	$155M	2.8%	NEW	+24.9%
COHR	Coherent Corp	480K	$89M	1.6%	+211%	+71.0%
SEI	Solaris Energy Infras Inc	1.9M	$86M	1.6%	+62%	+46.6%
TSEM	Tower Semiconductor Ltd	723K	$85M	1.5%	+54%	+103.8%
RIOT	Riot Platforms Inc	6.2M	$78M	1.4%	+72%	+58.7%
KRC	Kilroy Rlty Corp	1.3M	$50M	0.9%	NEW	+8.7%
HUT	Hut 8 Corp	860K	$40M	0.7%	+44%	+92.5%
WYFI	Whitefiber Inc	1.8M	$28M	0.5%	NEW	+28.8%
PSIX	Power Solutions Intl Inc	432K	$25M	0.4%	NEW	-54.9%
BTDR	Bitdeer Technologies Group	1.8M	$20M	0.4%	+92%	+11.3%
CLSK	Cleanspark Inc	1.6M	$17M	0.3%	NEW	+36.3%
1B2	Bitfarms Ltd	6.9M	$16M	0.3%	NEW	—
LBRT	Liberty Energy Inc	567K	$10M	0.2%	NEW	+35.1%
INFY PUT	Infosys Ltd	500K	$9M	0.2%	NEW	-23.4%
PUMP	Propetro Hldg Corp	910K	$9M	0.2%	NEW	+50.2%
BW	Babcock & Wilcox Enterprises	1.4M	$9M	0.2%	NEW	+127.4%

Returns: 2025-11-14 → 2026-02-11

Ticker	Company	Shares	Value	Weight	Δ shares vs prev	Qtr return
CRWV EQ+CALL+PUT ▸	Coreweave Inc	4.6M	$626M	25.9%	NEW	+23.0%
CRWV EQUITY	equity	4.1M	$563M	13.6%	NEW	+23.0%
CRWV CALL ×0.5	call · calls ×0.5, puts ×−0.5	2.3M	$317M	7.7%	NEW	—
CRWV PUT ×-0.5	put · calls ×0.5, puts ×−0.5	1.4M	$192M	4.6%	NEW	—
INTC CALL	Intel Corp	20.2M	$679M	16.4%	+0%	+36.0%
CORZ	Core Scientific Inc New	20.2M	$362M	8.7%	+152%	+21.2%
IREN	Iren Limited	7.2M	$339M	8.2%	+13%	-8.0%
NVDA PUT	Nvidia Corporation	1.6M	$299M	7.2%	NEW	-0.1%
VST	Vistra Corp	1.3M	$252M	6.1%	+1%	-8.2%
GDX PUT	Vaneck Etf Trust	600K	$196M	4.7%	NEW	+40.1%
APLD	Applied Digital Corp	6.1M	$139M	3.4%	-8%	+54.8%
GLXY	Galaxy Digital Inc.	2.7M	$93M	2.2%	NEW	-22.6%
AVGO PUT	Broadcom Inc	230K	$76M	1.8%	NEW	+0.3%
TSM PUT	Taiwan Semiconductor Mfg Ltd	270K	$75M	1.8%	NEW	+31.7%
CIFR 1.75 05/15/30	Cipher Mining Inc	5.7M	$72M	1.7%	NEW	—
RIOT	Riot Platforms Inc	3.6M	$68M	1.7%	NEW	+6.1%
LITE	Lumentum Hldgs Inc	418K	$68M	1.6%	NEW	+147.3%
EQT	Eqt Corp	1.2M	$66M	1.6%	-43%	-5.0%
BE EQ+CALL ▸	Bloom Energy Corp	3.1M	$50M	1.4%	NEW	+39.0%
BE EQUITY	equity	3.0M	$44M	1.1%	NEW	+39.0%
BE CALL ×0.5	call · calls ×0.5, puts ×−0.5	146K	$12M	0.3%	NEW	—
MU PUT	Micron Technology Inc	300K	$50M	1.2%	NEW	+66.3%
SEI	Solaris Energy Infras Inc	1.2M	$46M	1.1%	NEW	+19.1%
TSEM	Tower Semiconductor Ltd	471K	$34M	0.8%	NEW	+35.4%
HUT	Hut 8 Corp	599K	$21M	0.5%	NEW	+44.1%
WDC	Western Digital Corp	153K	$18M	0.4%	NEW	+73.6%
COHR	Coherent Corp	154K	$17M	0.4%	NEW	+60.5%
BTDR	Bitdeer Technologies Group	930K	$16M	0.4%	NEW	+14.0%
SNDK	Sandisk Corp	115K	$13M	0.3%	NEW	+135.8%
STX	Seagate Technology Hldngs Pl	49K	$11M	0.3%	NEW	+58.1%

Ticker	Company	Shares	Value	Weight	Δ shares vs prev	Qtr return
SMH PUT	Vaneck Etf Trust	2.0M	$570M	26.9%	NEW	+14.3%
INTC CALL	Intel Corp	20.2M	$453M	21.4%	+0%	+48.9%
AVGO	Broadcom Inc	1.2M	$328M	15.5%	+70%	+10.2%
VST	Vistra Corp	1.3M	$247M	11.6%	+142%	-13.6%
CORZ	Core Scientific Inc New	8.0M	$136M	6.4%	+77%	+7.9%
EQT	Eqt Corp	2.1M	$125M	5.9%	+117%	+15.4%
CEG	Constellation Energy Corp	319K	$103M	4.9%	+74%	+3.9%
IREN	Iren Limited	6.4M	$93M	4.4%	+90%	+143.0%
APLD	Applied Digital Corp	6.6M	$66M	3.1%	+63%	+62.5%

Returns: 2025-05-14 → 2025-08-14

Ticker	Company	Shares	Value	Weight	Δ shares vs prev	Qtr return
INTC CALL	Intel Corp	20.2M	$460M	45.7%	NEW	+10.9%
AVGO	Broadcom Inc	700K	$117M	11.7%	NEW	+34.4%
ONTO	Onto Innovation Inc	587K	$71M	7.1%	NEW	+5.7%
VST	Vistra Corp	526K	$62M	6.1%	+23%	+30.9%
MOD	Modine Mfg Co	717K	$55M	5.5%	+980%	+32.8%
EQT	Eqt Corp	989K	$53M	5.3%	NEW	-7.4%
CRWV	Coreweave Inc	1.2M	$45M	4.5%	NEW	+47.5%
CEG	Constellation Energy Corp	183K	$37M	3.7%	+90%	+13.4%
CORZ	Core Scientific Inc New	4.5M	$33M	3.3%	NEW	+34.1%
TLN	Talen Energy Corp	148K	$30M	2.9%	+7%	+55.4%
APLD	Applied Digital Corp	4.0M	$23M	2.3%	NEW	+143.3%
IREN	Iren Limited	3.4M	$20M	2.0%	NEW	+139.4%

Ticker	Company	Shares	Value	Weight	Δ shares vs prev	Qtr return
MRVL	Marvell Technology Inc	786K	$87M	34.1%	—	-37.4%
VST	Vistra Corp	428K	$59M	23.2%	—	-7.0%
VRT	Vertiv Holdings Co	455K	$52M	20.3%	—	-1.5%
TLN	Talen Energy Corp	139K	$28M	11.0%	—	+3.6%
CEG	Constellation Energy Corp	96K	$22M	8.5%	—	-8.0%
MOD	Modine Mfg Co	66K	$8M	3.0%	—	+7.8%