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Leopold Aschenbrenner’s Situational Awareness LP disclosed a $5.52 billion U.S. equity portfolio as of March 31, 2026, according to its latest 13F filing with the SEC. The fund reported put positions worth roughly $8.7 billion in notional value across major semiconductor and AI-linked names, while holding long stakes in several bitcoin miners and AI/HPC infrastructure companies. The portfolio included 29 holdings and 10 new positions compared to the prior quarter’s filing.

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Special situations fund?

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No idea, never even heard of that concept!

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Special situations investing, also known as event-driven investing, is an investment strategy that targets opportunities created by specific corporate events, financial dislocations, or structural complexities. The goal is to profit from non-standard circumstances—such as bankruptcies, spin-offs, mergers, or restructurings—where an asset trades below its intrinsic value

Looks like they are just a hedge fund. I thought maybe special situations due to the name.

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