Leopold Aschenbrenner Portfolio 2025 | Situational Awareness LP 13F Holdings

Biography

Leopold Aschenbrenner founded Situational Awareness LP in 2024 after being fired from OpenAI's Superalignment team over an alleged information leak, which he disputes. A Columbia University valedictorian at age 19, he published a widely-read 165-page essay titled 'Situational Awareness: The Decade Ahead' predicting AGI by 2027, which became the intellectual foundation for the fund.

Backed by Patrick and John Collison (Stripe), Nat Friedman, and Daniel Gross, the fund grew from $383 million to over $5 billion in US equity exposure in under a year. The fund posted +47% returns in the first half of 2025, betting heavily on AI infrastructure including semiconductors, power generation, data centers, and Bitcoin miners.

Investment Philosophy

You can see the future first in San Francisco. Everyone is now talking about AI, but few have the faintest glimmer of what is about to hit them.
— Leopold Aschenbrenner, Situational Awareness LP

Notable Trades

CURRENT

Core Scientific (CORZ)

Built a 5.8% ownership stake in the Bitcoin miner and data center operator, betting on rising demand for high-performance computing infrastructure.

CURRENT

AI Infrastructure Concentration

Over 80% of portfolio concentrated in AI enablers — semiconductors, power generation, data centers, and Bitcoin miners.

WIN

First Half 2025

+47% net of fees in H1 2025 vs S&P 500 +6%, driven by concentrated bets on AI infrastructure during a strong AI capex cycle.

Top Holdings — Situational Awareness LP

Top 5 Holdings · Q4 2025 Filed Feb 11, 2026