In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Leopold Aschenbrenner's Situational Awareness reported 24 stock positions worth $3.9 billion . Its top holding was Bloom Energy Class A (BE) at 22.4% of the portfolio, followed by Lumentum (LITE, 12.2% ) and Coreweave Class A (CRWV, 11.2% ). Compared with Q3 2025, it opened 12 new positions, sold out of 7 and added to 12. The biggest buy was a new position in Bloom Energy Class A (BE) and the biggest sale an exit from Vistra (VST).
Notable People Leopold Aschenbrenner
Location SAN FRANCISCO, CA
CIK 0002045724
Portfolio Value $3.9B (Q4 2025) Holdings 24 stocks · $3.9B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2025 BE Bloom Energy Corp. Class A 10,076,022 $875.5M New LITE Lumentum Holdings Inc. 1,298,400 $478.6M New CRWV Coreweave Inc. Class A 6,098,812 $436.7M Add +48.2% CORZ Core Scientific Inc. 28,756,478 $418.7M Add +42.5% IREN Iren Ltd. filed as IREN LIMITED 8,700,621 $328.6M Add +20.5% APLD Applied Digital Corp. 11,339,060 $278.0M Add +87.0% SNDK Sandisk Corp. 1,054,200 $250.2M Add +816.7% CIFR Cipher Digital Inc. 10,469,093 $154.5M New EQT Eqt Corp. 2,482,225 $133.0M Add +103.9% COHR Coherent Corp. 480,300 $88.6M Add +211.1% SEI Solaris Energy Infrastructur 1,866,500 $85.8M Add +62.3% TSEM Tower Semiconductor Ltd. 723,004 $84.9M Add +53.6% RIOT Riot Platforms Inc. 6,167,700 $78.1M Add +71.7% KRC Kilroy Realty Corp. 1,327,700 $49.6M New HUT Hut 8 Corp. 860,200 $39.5M Add +43.6% WYFI Whitefiber Inc. 1,757,600 $27.8M New PSIX Power Solutions Internationa 432,300 $24.7M New BTDR Bitdeer Technologies Group-A 1,788,000 $20.0M Add +92.3% CLSK Cleanspark Inc. 1,640,400 $16.6M New BITF Bitfarms Ltd./Canada 6,897,100 $16.2M New LBRT Liberty Energy Inc. 567,200 $10.5M New PUMP Propetro Holding Corp. 910,300 $8.7M New BW Babcock & Wilcox Enterpr 1,353,900 $8.6M New INTC Intel Corp. 1 $37 New
Options reported separately and not counted above: CRWV calls ($774.4M), INTC calls ($746.8M), EQT calls ($37.5M), BE calls ($35.5M), INFY puts ($8.9M).
Portfolio Sells Q3 2025 → Q4 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Portfolio Buys Q3 2025 → Q4 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▼ BE Bloom Energy Corp. Class A New 22.37% +22.37 LITE Lumentum Holdings Inc. New 12.23% +12.23 SNDK Sandisk Corp. Add +816.7% 6.39% +5.80 CIFR Cipher Digital Inc. New 3.95% +3.95 COHR Coherent Corp. Add +211.1% 2.27% +1.50 KRC Kilroy Realty Corp. New 1.27% +1.27 APLD Applied Digital Corp. Add +87.0% 7.10% +0.71 WYFI Whitefiber Inc. New 0.71% +0.71 PSIX Power Solutions Internationa New 0.63% +0.63 TSEM Tower Semiconductor Ltd. Add +53.6% 2.17% +0.61 CLSK Cleanspark Inc. New 0.42% +0.42 BITF Bitfarms Ltd./Canada New 0.41% +0.41 EQT Eqt Corp. Add +103.9% 3.40% +0.35 LBRT Liberty Energy Inc. New 0.27% +0.27 PUMP Propetro Holding Corp. New 0.22% +0.22 BW Babcock & Wilcox Enterpr New 0.22% +0.22 SEI Solaris Energy Infrastructur Add +62.3% 2.19% +0.08 HUT Hut 8 Corp. Add +43.6% 1.01% +0.05 INTC Intel Corp. New 0.00% 0.00 BTDR Bitdeer Technologies Group-A Add +92.3% 0.51% −0.22 RIOT Riot Platforms Inc. Add +71.7% 2.00% −1.15 CORZ Core Scientific Inc. Add +42.5% 10.70% −5.94 IREN Iren Ltd. Add +20.5% 8.40% −7.18 CRWV Coreweave Inc. Class A Add +48.2% 11.16% −14.73
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ CRWV Coreweave Inc. Class A call Add +367.3% 10,814,500 $774.4M NVDA Nvidia Corp. put Sold out 1,600,000 $298.5Mbefore exit GDX Vaneck Gold Miners ETF put Sold out 600,000 $195.8Mbefore exit CRWV Coreweave Inc. Class A put Sold out 1,400,000 $191.6Mbefore exit AVGO Broadcom Inc. put Sold out 230,000 $75.9Mbefore exit TSM Taiwan Semiconductor-SP ADR put Sold out 270,000 $75.4Mbefore exit MU Micron Technology Inc. put Sold out 300,000 $50.2Mbefore exit EQT Eqt Corp. call New 700,000 $37.5M BE Bloom Energy Corp. Class A call New 408,500 $35.5M BLOOM ENERGY CORP (BE 2.5 08/15/25) call Sold out 145,800 $12.3Mbefore exit INFY Infosys Ltd.-SP ADR put New 500,000 $8.9M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 23 $20.2B SNDK, MU, BE, TSM, NBIS Q1 2026 26 $3.9B BE, SNDK, CRWV, IREN, CORZ Q4 2025 24 $3.9B BE, LITE, CRWV, CORZ, IREN Q3 2025 19 $2.2B CRWV, CORZ, IREN, VST, APLD Q2 2025 7 $1.1B AVGO, VST, CORZ, EQT, CEG Q1 2025 11 $546.0M AVGO, ONTO, VST, MOD, EQT Q4 2024 6 $254.8M MRVL, VST, VRT, TLN, CEG