Summary · why it matters
Leopold Aschenbrenner's hedge fund Situational Awareness held more than half its portfolio in Sandisk and Micron Technology stock at the end of June, just before both positions collapsed in July, according to a 13F regulatory filing released last Friday. Sandisk topped the fund's disclosed U.S. holdings at $5.7 billion, with Micron just behind at $5.6 billion, and together the two memory chip stocks accounted for more than 56% of the fund's holdings. Sandisk stock fell nearly 47% in July, while Micron dropped roughly 29%, and the fund's three other top positions were also among July's worst performers, with Bloom Energy sliding 32%, Taiwan Semiconductor Manufacturing losing 15%, and Nebius Group falling 31%. The fund lost roughly $35 billion in assets after margin calls from prime brokers Bank of America, Goldman Sachs, and JPMorgan Chase forced a distressed sale of its publicly traded holdings to Ken Griffin's Citadel, leaving it with around $10 billion from a July high of roughly $45 billion. From its launch in July 2024 through the end of June, the fund had posted returns exceeding 1,000%, and Aschenbrenner has since made a $400 million investment in an undisclosed private company as the first sign of his intentions to rebuild.
Taiwan Semiconductor Manufacturing Co. Ltd.
Micron Technology Inc
Sandisk Corp
Bank of America Corp
Goldman Sachs Group Inc
CoreWeave, Inc. Class A Common Stock
Nebius Group N.V.
Bloom Energy Corp
JPMorgan Chase & Co