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Situational Awareness Fund’s Q1 2026 Holdings Emphasize AI Infrastructure and Bitcoin Miners

Situational Awareness Fund’s Q1 2026 Holdings Emphasize AI Infrastructure and Bitcoin Miners

By March 31, 2026, Leopold Aschenbrenner’s disclosed positions reached $13.67 billion, combining large stakes in Bitcoin miners and AI infrastructure names with $7.46 billion in semiconductor-related short positions.

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Fact Check
Multiple independent financial data sources confirm the claim in detail. HedgeFollow's Q1 2026 13F data (as of 2026-03-31) shows Bloom Energy (22.79%, ~$879M), Sandisk (18.79%, ~$724M), and CoreWeave (14.42%, ~$556M) as the three largest holdings, exactly matching the claim. The portfolio also prominently features Bitcoin miners (Riot Platforms, Cleanspark, Bitfarms, Bitdeer, Core Scientific, IREN, Applied Digital), consistent with the claim's description of emphasis on 'AI power, data centers, compute infrastructure and Bitcoin mining.' The Odaily article corroborates the same dollar figures. WhaleWisdom confirms the Q1 2026 13F filing exists. Forbes confirms the fund's infrastructure-focused investment thesis. All sources are mutually consistent and directly validate the claim.
Summary

Leopold Aschenbrenner’s Situational Awareness Fund reported Q1 2026 positions centered on AI infrastructure and Bitcoin miners, and the new disclosure adds that its total disclosed investment positions reached $13.67 billion by March 31, 2026. The fund held major long positions in Bitcoin mining companies including IREN, Core Scientific, Riot Platforms, CleanSpark, Bitfarms, Bitdeer and Hive Digital, alongside AI infrastructure-related holdings. The filing also showed that Aschenbrenner built about $7.46 billion in semiconductor shorts, including bearish positions on SMH, Nvidia, Oracle and Broadcom, highlighting a portfolio that combined long exposure to digital infrastructure with sizable negative bets against parts of the chip sector.

Terms & Concepts
  • Bitcoin miners: Companies that operate specialized computing equipment to validate blockchain transactions and earn Bitcoin rewards, often requiring large amounts of power and infrastructure.
  • AI infrastructure: The physical and technical systems needed to support artificial intelligence workloads, such as power, data centers, servers and related computing capacity.
  • semiconductor shorts: Bearish positions that aim to profit if semiconductor-related stocks or funds decline in value, rather than rise.