Leopold Aschenbrenner runs Situational Awareness LP. Former OpenAI researcher who built a hedge fund around one idea: AGI is arriving by 2027 and markets haven't priced it in. Bets on the infrastructure of AI — power, compute, silicon — not the models themselves. Grew to $5.5B in disclosed long equity exposure in under 18 months. As of the Q1 2026 13F filing, the disclosed long-equity portfolio is valued at $13.7B across 42 positions. The largest holdings are VANECK ETF TRUST, NVIDIA CORPORATION, and ORACLE CORP (VANECK ETF TRUST alone is 14.9% of the book).

New positions opened in the latest quarter include ASML HLDG NV N Y REGISTRY, ASML HLDG NV N Y REGISTRY, and ADVANCED MICRO DEVICES INC. Recently exited names: CIPHER MINING INC, COHERENT CORP, and EQT CORP.

Leopold Aschenbrenner runs Situational Awareness LP. Former OpenAI researcher who built a hedge fund around one idea: AGI is arriving by 2027 and markets haven't priced it in. Bets on the infrastructure of AI — power, compute, silicon — not the models themselves. Grew to $5.5B in disclosed long equity exposure in under 18 months. As of the Q1 2026 13F filing, the disclosed long-equity portfolio is valued at $13.7B across 42 positions. The largest holdings are VANECK ETF TRUST, NVIDIA CORPORATION, and ORACLE CORP (VANECK ETF TRUST alone is 14.9% of the book).

New positions opened in the latest quarter include ASML HLDG NV N Y REGISTRY, ASML HLDG NV N Y REGISTRY, and ADVANCED MICRO DEVICES INC. Recently exited names: CIPHER MINING INC, COHERENT CORP, and EQT CORP.