Situational Awareness lost 67% in July and sold most of its roughly $16 billion public-equity portfolio to Citadel, Reuters reported on July 30 and July 31. CoreWeave and Sandisk were among the concentrated AI holdings caught between falling prices, leverage, and evaporating liquidity. At the end of Q1 2026, the fund reported 7.18 million CoreWeave shares worth $556.1 million and 1.14 million Sandisk shares worth $724.4 million, plus call positions in both. Sandisk then fell 54% in July, and as losses reduced the fund's equity cushion, borrowed exposure made selling compulsory. The fund removed leverage after warning that it had come close to permanent capital impairment.
CoreWeave, Inc. Class A Common Stock
Sandisk Corp