“AI Stock God” Leopold’s pre-collapse holdings exposed: SanDisk and Micron account for half of the portfolio
On August 15, the latest filings disclosed by the U.S. SEC showed that “AI Stock God” Leopold Aschenbrenner’s Situational Awareness LP submitted a 13F-HR on August 14, 2026, disclosing a public holdings snapshot before the July liquidation storm. This 13F filing shows that Situational Awareness reported total declared holdings of approximately $20.24 billion. The positions were highly concentrated: SanDisk was about $5.674 billion, or roughly 28.0%; Micron was about $5.574 billion, or about 27.5%. Just these two storage-chain bets totaled more than $11.2 billion, accounting for about 55.5% of the portfolio. In addition to storage chips, the portfolio also heavily re-bet on AI infrastructure and the compute-power chain: Bloom Energy at about $1.899 billion, TSMC ADR at about $1.265 billion, Nebius at about $1.233 billion, CoreWeave at about $0.745 billion, and Core Scientific at about $0.666 billion. The document also indicates it holds related assets tied to data centers, power, and Bitcoin miners, such as Applied Digital, IREN, Riot Platforms, and CleanSpark. This “ledger before the blow-up” reflects a highly concentrated trade betting on the “AI compute-power bottleneck”: storage, semiconductor wafer foundry, cloud compute, power, data-center infrastructure, and mining-rig infrastructure are bundled in the same direction. At the end of July, market chatter suggested that Situational Awareness was forced to sell most of its publicly traded stock positions due to declines in AI-related shares and leverage pressure; Citadel ultimately took over the problematic stock portfolio. The market had previously expressed concerns about the fund’s turmoil as well. Based on these holdings, Leopold compressed multiple high-volatility assets across the AI infrastructure chain into a single, mega-crowded trade. When AI trades go smoothly, it’s like a myth; but when the chip and compute-power-and-power chain all pulls back together, leverage rapidly rewrites the myth into an accident. However, it’s important to emphasize that 13F discloses only U.S.-listed securities and certain options as of June 30, and does not reveal intraday trading, the full picture of short positions, the financing structure, or any sales after June 30.
On August 15, the latest filings disclosed by the U.S. SEC showed that “AI Stock God” Leopold Aschenbrenner’s Situational Awareness LP submitted a 13F-HR on August 14, 2026, disclosing a public holdings snapshot before the July liquidation storm. This 13F filing shows that Situational Awareness reported total declared holdings of approximately $20.24 billion. The positions were highly concentrated: SanDisk was about $5.674 billion, or roughly 28.0%; Micron was about $5.574 billion, or about 27.5%. Just these two storage-chain bets totaled more than $11.2 billion, accounting for about 55.5% of the portfolio. In addition to storage chips, the portfolio also heavily re-bet on AI infrastructure and the compute-power chain: Bloom Energy at about $1.899 billion, TSMC ADR at about $1.265 billion, Nebius at about $1.233 billion, CoreWeave at about $0.745 billion, and Core Scientific at about $0.666 billion. The document also indicates it holds related assets tied to data centers, power, and Bitcoin miners, such as Applied Digital, IREN, Riot Platforms, and CleanSpark. This “ledger before the blow-up” reflects a highly concentrated trade betting on the “AI compute-power bottleneck”: storage, semiconductor wafer foundry, cloud compute, power, data-center infrastructure, and mining-rig infrastructure are bundled in the same direction. At the end of July, market chatter suggested that Situational Awareness was forced to sell most of its publicly traded stock positions due to declines in AI-related shares and leverage pressure; Citadel ultimately took over the problematic stock portfolio. The market had previously expressed concerns about the fund’s turmoil as well. Based on these holdings, Leopold compressed multiple high-volatility assets across the AI infrastructure chain into a single, mega-crowded trade. When AI trades go smoothly, it’s like a myth; but when the chip and compute-power-and-power chain all pulls back together, leverage rapidly rewrites the myth into an accident. However, it’s important to emphasize that 13F discloses only U.S.-listed securities and certain options as of June 30, and does not reveal intraday trading, the full picture of short positions, the financing structure, or any sales after June 30.