Situational Awareness LP Grows to $13.7B in 6 Quarters, Builds $8.5B Semiconductor Put Book in Q1 2026

According to a SEC 13F filing disclosed on May 26, 2026, Leopold Aschenbrenner's Situational Awareness LP grew from $255 million to $13.7 billion in six quarters through Q1 2026, with the fund's Q1 portfolio marked by a new $8.5 billion put-option position on the semiconductor complex—the first meaningful options book in its six-quarter history.

The fund's largest position shifted to a $2.04 billion put on VanEck Semiconductor ETF (SMH), with additional major puts on Nvidia ($1.57 billion), Oracle, AMD, and Broadcom. On the long side, Bloom Energy topped holdings at $879 million in common stock, while bitcoin miners CleanSpark, Bitfarms, Riot, and Bitdeer saw significant position increases, with CleanSpark rising 7x from Q4 2025.