Situational Awareness dumped its whole stock book to Citadel. Then those bets got crushed

Leopold Aschenbrenner's Situational Awareness didn't get to ride out the storm. The fund was forced to hand over its entire public stock book to Citadel in July, according to Cointelegraph — a fire sale, not a strategy shift.

The exit didn't spare the scorecard. Every top holding from Situational Awareness's June 13F filing has been hammered since, with the biggest names shedding more than half their value.

The wreckage, June 30 versus Nov. 5: SanDisk sits at $808 after starting at $2,274, a 64% wipeout. Micron dropped 42%, down to $673 from $1,154. CoreWeave fell 58%, now $41.50 against $99.54. Nebius is also off 58%, at $117 versus $276. And Core Scientific slid 52%, landing at $12.41 from $25.59.

The lineup reads like a pure AI-infrastructure bet. CoreWeave, Nebius and Core Scientific run and house the data centers powering the boom, while Micron and SanDisk supply the memory chips inside it. Aschenbrenner built his reputation on loud, early conviction about artificial intelligence — and the book reflected it.

Now the timing cuts both ways. The forced sale to Citadel landed in July, just as these positions began their slide, and the June marks make the toll plain regardless of when the shares actually changed hands.

Cointelegraph summed up the mood bluntly: the pain is real for everyone. For a fund whose whole identity was seeing the future first, the tape has been unforgiving.