AI-focused hedge fund Situational Awareness LP, founded by former OpenAI employee Leopold Aschenbrenner, disclosed a dramatic expansion of its semiconductor and AI infrastructure options portfolio in its Q1 2026 13F filing. The fund reported large new put option positions tied to Nvidia ($NVDA), Broadcom ($AVGO), Oracle ($ORCL), Advanced Micro Devices ($AMD), and Taiwan Semiconductor ($TSM), while also increasing several AI infrastructure equity holdings.
- The fund opened new put option positions valued at more than $1.5 billion on Nvidia and more than $2 billion tied to the VanEck Semiconductor ETF ($SMH). These option position values are sourced directly from the 13F filing.
- Additional new put positions included Broadcom, Oracle, AMD, Micron, ASML, Intel, Corning and Taiwan Semiconductor.
- Situational Awareness simultaneously increased several long equity positions including CleanSpark, Riot Platforms, Applied Digital, IREN and CoreWeave.
- The fund also opened new call option positions tied to Sandisk and Taiwan Semiconductor.
- Several prior equity holdings including Cipher Mining, Coherent, EQT, Hut 8 and Tower Semiconductor were fully exited during the quarter.
- The filing reflects a major shift from Q4 2025, when the fund maintained only a limited number of disclosed option positions.
Relevant Companies
- Nvidia ($NVDA) – The fund disclosed one of its largest new put option positions tied to the AI chipmaker.
- CoreWeave ($CRWV) – The fund maintained a large equity position and continued holding CoreWeave call options.
- Applied Digital ($APLD) – Situational Awareness increased its equity position in the AI infrastructure and data center company.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
