Published: 2026-09-23 · Data: 2026-Q2 13F Filings
Situational Awareness LP, the fund associated with Leopold Aschenbrenner, reported 19 positions in its Q2 2026 13F filing. Its top five holdings now make up 77.3% of the portfolio, led by a combined 55.6% stake split between two memory-chip names, SanDisk and Micron.
Top 5 concentration
SanDisk (28.0%), Micron Technology (27.5%), Bloom Energy (9.4%), Taiwan Semiconductor (6.2%) and NBIS (6.1%) together account for 77.3% of the Q2 2026 reported portfolio. Both SanDisk and Micron were added to this quarter. SanDisk's share count grew about 119%, from 1.14 million to 2.50 million shares. Micron's stake grew from a near-zero base of just 17,362 shares in Q1 2026 to 4.83 million shares — effectively a new-sized position built inside an existing line item.
Top 5 holdings at a glance
| Rank | Stock | % of portfolio | Status |
|---|---|---|---|
| 1 | SNDK | 28.0% | Added |
| 2 | MU | 27.5% | Added |
| 3 | BE | 9.4% | Trimmed |
| 4 | TSM | 6.2% | Added |
| 5 | NBIS | 6.1% | New |
Unlike Berkshire's decades-old, low-turnover book, four of Situational Awareness LP's top five holdings were either added to or newly opened this quarter. Only Bloom Energy, still the third-largest position, was trimmed rather than built. Readers can compare turnover and concentration across managers on fund rankings and crowding scores.
Full holdings table
| Stock | Shares Q2 2026 | Shares Q1 2026 | Share change | Status | % of portfolio |
|---|---|---|---|---|---|
| SNDK | 2,495,344 | 1,140,119 | +1,355,225 | Added | 28.0% |
| MU | 4,828,786 | 17,362 | +4,811,424 | Added | 27.5% |
| BE | 6,272,808 | 6,485,408 | -212,600 | Trimmed | 9.4% |
| TSM | 2,649,035 | 22,423 | +2,626,612 | Added | 6.2% |
| NBIS | 4,464,260 | 0 | +4,464,260 | New | 6.1% |
| CRWV | 7,479,558 | 7,177,919 | +301,639 | Added | 3.7% |
| CORZ | 26,008,473 | 26,008,473 | 0 | Unchanged | 3.3% |
| STM | 7,802,700 | 0 | +7,802,700 | New | 2.9% |
| APLD | 15,384,616 | 13,478,438 | +1,906,178 | Added | 2.3% |
| RIOT | 17,100,000 | 11,502,137 | +5,597,863 | Added | 2.3% |
| IREN | 9,474,099 | 11,698,835 | -2,224,736 | Trimmed | 2.1% |
| CLSK | 12,276,139 | 12,276,139 | 0 | Unchanged | 0.9% |
| SEI | 1,129,621 | 1,105,551 | +24,070 | Added | 0.4% |
| BTDR | 3,439,450 | 3,439,450 | 0 | Unchanged | 0.3% |
| TE | 4,900,000 | 10,000,000 | -5,100,000 | Trimmed | 0.2% |
| HIVE | 9,133,726 | 3,391,547 | +5,742,179 | Added | 0.2% |
| BW | 2,027,451 | 1,353,900 | +673,551 | Added | 0.1% |
| PUMP | 1,960,382 | 910,300 | +1,050,082 | Added | 0.1% |
| VSH | 375,000 | 0 | +375,000 | New | 0.1% |
| GLW | 0 | 5,283 | -5,283 | Exited | 0.0% |
| BITF | 0 | 19,875,840 | -19,875,840 | Exited | 0.0% |
| AMD | 0 | 99,138 | -99,138 | Exited | 0.0% |
| ASML | 0 | 4,633 | -4,633 | Exited | 0.0% |
| PSIX | 0 | 432,300 | -432,300 | Exited | 0.0% |
| NVDA | 0 | 2,855 | -2,855 | Exited | 0.0% |
| INTC | 0 | 202,344 | -202,344 | Exited | 0.0% |
| SMH | 0 | 26,950 | -26,950 | Exited | 0.0% |
What was added
Ten existing positions were added to: SanDisk (+1.36M shares), Micron (+4.81M shares), Taiwan Semiconductor (+2.63M shares), Riot Platforms (+5.60M shares), Aerohive Networks (+5.74M shares), Applied Digital (+1.91M shares), ProPetro (+1.05M shares), Babcock & Wilcox (+0.67M shares), CoreWeave (+0.30M shares) and Solaris Oilfield Infrastructure (+24,070 shares). Semiconductor and data-center-power names dominate this list, a pattern consistent with the fund's stated AI focus, though the filing data alone doesn't show the reasoning behind any single trade.
What was trimmed
Three positions were reduced: Teco Energy (-5.1M shares), IREN (-2.22M shares) and Bloom Energy (-212,600 shares), even though Bloom Energy remains the third-largest position at 9.4% of the portfolio. Teco Energy's cut was the steepest in percentage terms, down 51% from 10.0 million to 4.9 million shares. IREN's stake fell about 19%, from 11.70 million to 9.47 million shares, while Bloom Energy's reduction was comparatively modest at roughly 3.3% of its prior share count.
New positions
Three brand-new names appeared: NBIS (4.46M shares, 6.1% of the portfolio), STMicroelectronics (7.80M shares, 2.9%) and Vishay Intertechnology (375,000 shares, 0.1%).
Exited
Six positions were fully exited: Bitfarms (19.88M shares sold), Intel (202,344 shares), Power Solutions International (432,300 shares), AMD (99,138 shares), the VanEck Semiconductor ETF (26,950 shares), ASML (4,633 shares) and Nvidia (2,855 shares). Notably, both AMD and Nvidia — direct AI-chip peers of names the fund still holds — were dropped entirely.
Unchanged
Three positions were left untouched: Core Scientific (3.3% of the portfolio), CleanSpark (0.9%) and Bitdeer Technologies (0.3%).
How to Use This Data
- See the full track record: performance, holdings history and backtest. Open the fund page →
- Compare it with other managers: how much of this portfolio other funds share. Fund overlap tool →
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Frequently Asked Questions
How many positions did Situational Awareness LP report for Q2 2026?
19 positions, per the Q2 2026 13F filing.
What is Situational Awareness LP's largest holding?
SanDisk, at 28.0% of the reported portfolio, just ahead of Micron Technology at 27.5%.
Did Situational Awareness LP sell Nvidia stock?
Yes. The fund's small Nvidia position (2,855 shares) was fully exited in Q2 2026.
What new positions did Situational Awareness LP open in Q2 2026?
Three: NBIS (6.1% of the portfolio), STMicroelectronics (2.9%) and Vishay Intertechnology (0.1%).
Did Situational Awareness LP exit AMD?
Yes, its 99,138-share AMD position was fully closed in Q2 2026.
Which Situational Awareness LP position was trimmed the most in percentage terms?
Teco Energy saw the steepest proportional cut, down 51% from 10.0 million to 4.9 million shares.
Methodology: Counts include every 13F filer (hedge funds, asset managers, banks, advisers). New/closed positions compare only managers that filed both Q1 and Q2 2026. Options (puts/calls) excluded. Conviction is position size as a percentage of the manager's own reported portfolio. Stocks whose CUSIP changed this quarter (spin-offs, re-domiciles) are excluded from buy/sell rankings. 13F filings are due up to 45 days after quarter end, cover US long equity positions only (no shorts, no cash, no bonds), and options are excluded from these counts. See fund rankings and sector flows for broader context, or check crowding scores and fund overlap on these names. Source data: SEC EDGAR 13F filings, processed by 13Foresight.
Compare this fund with 8,000+ others →Source: 13Foresight analysis of SEC Form 13F filings. 13F data reflects long US equity positions held at quarter-end and is filed up to 45 days after quarter close. This article is for information only and is not investment advice.