Situational Awareness

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Leopold Aschenbrenner's Situational Awareness reported 11 stock positions worth $546.0 million. Its top holding was Broadcom (AVGO) at 21.5% of the portfolio, followed by Onto Innovation (ONTO, 13.0%) and Vistra (VST, 11.3%). Compared with Q4 2024, it opened 7 new positions, sold out of 2 and added to 4. The biggest buy was a new position in Broadcom (AVGO) and the biggest sale an exit from Marvell Technology (MRVL).

Most Recent 13F
Q2 2026
Notable People
Leopold Aschenbrenner
Location
SAN FRANCISCO, CA
CIK
0002045724
Portfolio Value
$546.0M (Q1 2025)
SEC Filing
0002045724-25-000002 ↗ filed May 14, 2025

Holdings Value

0$5.0B$10.0B$15.0B$20.0B$25.0B Q4 2024: $254.8M Q4 2024 Q1 2025: $546.0M $546.0M Q1 2025 Q2 2025: $1.1B Q2 2025 Q3 2025: $2.2B Q3 2025 Q4 2025: $3.9B Q4 2025 Q1 2026: $3.9B Q1 2026 Q2 2026: $20.2B Q2 2026

Holdings 11 stocks · $546.0M
AVGO Broadcom Inc. 21.47% 700,000 $117.2M New
ONTO Onto Innovation Inc. 13.04% 586,717 $71.2M New
VST Vistra Corp. 11.31% 525,846 $61.8M Add +22.8%
MOD Modine Manufacturing Co. 10.08% 716,824 $55.0M Add +980.1%
EQT Eqt Corp. 9.68% 989,398 $52.9M New
CRWV Coreweave Inc. Class A 8.32% 1,225,000 $45.4M New
CEG Constellation Energy 6.77% 183,400 $37.0M Add +90.3%
CORZ Core Scientific Inc. 6.00% 4,521,578 $32.7M New
TLN Talen Energy Corp. 5.43% 148,395 $29.6M Add +6.8%
APLD Applied Digital Corp. 4.15% 4,035,600 $22.7M New
IREN Iren Ltd. filed as IREN LIMITED 3.75% 3,366,130 $20.5M New

Options reported separately and not counted above: INTC calls ($459.6M).

Portfolio Sells Q4 2024 → Q1 2025
MRVL Marvell Technology Inc. Sold out 0.00% −34.06
VRT Vertiv Holdings Co. Class A Sold out 0.00% −20.29

Portfolio Buys Q4 2024 → Q1 2025
AVGO Broadcom Inc. New 21.47% +21.47
ONTO Onto Innovation Inc. New 13.04% +13.04
EQT Eqt Corp. New 9.68% +9.68
CRWV Coreweave Inc. Class A New 8.32% +8.32
MOD Modine Manufacturing Co. Add +980.1% 10.08% +7.06
CORZ Core Scientific Inc. New 6.00% +6.00
APLD Applied Digital Corp. New 4.15% +4.15
IREN Iren Ltd. New 3.75% +3.75
CEG Constellation Energy Add +90.3% 6.77% −1.69
TLN Talen Energy Corp. Add +6.8% 5.43% −5.55
VST Vistra Corp. Add +22.8% 11.31% −11.87

Options Activity Q4 2024 → Q1 2025
INTC Intel Corp. call New 20,237,400 $459.6M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 23$20.2BSNDK, MU, BE, TSM, NBIS
Q1 2026 26$3.9BBE, SNDK, CRWV, IREN, CORZ
Q4 2025 24$3.9BBE, LITE, CRWV, CORZ, IREN
Q3 2025 19$2.2BCRWV, CORZ, IREN, VST, APLD
Q2 2025 7$1.1BAVGO, VST, CORZ, EQT, CEG
Q1 2025 11$546.0MAVGO, ONTO, VST, MOD, EQT
Q4 2024 6$254.8MMRVL, VST, VRT, TLN, CEG