SEC filing shows Leopold Aschenbrenner fund was heavily concentrated in Sandisk and Micron before July selloff

News Editor

2026-08-15 03:28:19

A new U.S. Securities and Exchange Commission filing shows what Leopold Aschenbrenner’s fund, Situational Awareness LP, held before the July blowup tied to AI-related stocks and leverage pressure. The firm filed a 13F-HR on Aug. 14, 2026, disclosing a public-equity snapshot that carried a reported value of about $20.24 billion. The portfolio was sharply concentrated: roughly $5.674 billion in Sandisk, or about 28.0% of the book, and about $5.574 billion in Micron, or 27.5%. Together, those two memory names accounted for more than $11.2 billion, or around 55.5% of reported holdings. Beyond storage, the filing listed large positions in Bloom Energy, TSMC ADR, Nebius, CoreWeave, and Core Scientific, along with exposure to Applied Digital, IREN, Riot Platforms, and CleanSpark. The filing offers a view into a portfolio built around the AI infrastructure chain, spanning memory, foundry capacity, cloud compute, power, data centers, and mining infrastructure. The document also has limits: 13F reports only cover U.S.-listed securities and some options as of June 30, and do not show intraday trading, the full short book, financing structure, or sales made after that date.

A fresh U.S. Securities and Exchange Commission filing lays out the public holdings of Leopold Aschenbrenner’s Situational Awareness LP before the fund’s July turmoil tied to AI-linked stocks and leverage pressure.

According to the filing, Situational Awareness LP submitted a 13F-HR on Aug. 14, 2026. The report showed total disclosed holdings with an aggregate value of about $20.24 billion. The portfolio was highly concentrated. Sandisk accounted for about $5.674 billion, or roughly 28.0% of the portfolio, while Micron accounted for about $5.574 billion, or roughly 27.5%.

Those two memory-related positions alone added up to more than $11.2 billion, representing about 55.5% of the reported portfolio.

A concentrated bet on the AI infrastructure chain

Outside storage chips, the fund also built large positions across AI infrastructure and compute-linked names. The filing listed about $1.899 billion in Bloom Energy, about $1.265 billion in TSMC ADR, about $1.233 billion in Nebius, about $745 million in CoreWeave, and about $666 million in Core Scientific.

The document also showed holdings in Applied Digital, IREN, Riot Platforms, and CleanSpark, adding exposure to data centers, power-related businesses, and bitcoin mining companies. Taken together, the filing points to a single directional trade built around the idea of an AI compute bottleneck, with memory, foundry capacity, cloud compute, power, data centers, and mining-machine infrastructure tied to the same theme.

What the filing captures, and what it does not

Market chatter at the end of July said Situational Awareness had been forced to sell most of its public equity positions after declines in AI-related stocks collided with leverage pressure. Citadel later took over the troubled stock portfolio, and the episode had already stirred market concern.

Still, the 13F is only a partial snapshot. It covers U.S.-listed securities and some options as of June 30. It does not disclose intraday trading, the full short exposure, the financing structure, or any sales made after June 30.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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