25-Year-Old AI Stock Market Wizard Reveals Q1 Holdings: Put Options with a Marked-to-Market Value of Approximately $8.459 Billion, Significantly Increasing Protection against Downside Risk in AI/ Semiconductor-Related Assets

BlockBeats News, May 18th, "25-Year-Old Wall Street AI Stock Market Wizard" Leopold Aschenbrenner's fund Situational Awareness LP released its Q1 holdings report (13F filing). As of March 31st, the fund's AUM grew 148% QoQ to $13.6 billion. The specific holdings are as follows (only billion-dollar holdings are listed):

Vaneck Etf Trust (SMH): $2.053 billion (99.5% in put options)

Nvidia Corporation (NVDA): $1.569 billion (99.97% in put options)

Sandisk Corp (SNDK): $1.113 billion

Oracle Corp (ORCL): $1.073 billion (100% in put options)

Micron Technology Inc (MU): $1.012 billion (57.7% in put options)

Broadcom Inc (AVGO): $1.006 billion (100% in put options)

Advanced Micro Devices Inc (AMD): $0.989 billion (98.0% in put options)

Bloom Energy Corp (BE): $0.934 billion

Taiwan Semiconductor Manufac (TSM): $0.898 billion (59.6% in put options)

Coreweave Inc (CRWV): $0.697 billion

Asml Hldg Nv N Y Registry (ASML): $0.500 billion (98.8% in put options)

Iren Limited (IREN): $0.401 billion

Core Scientific Inc New (CORZ): $0.389 billion

Applied Digital Corp (APLD): $0.320 billion

Intel Corp (INTC): $0.168 billion (94.7% in put options)

Riot Platforms Inc (RIOT): $0.142 billion

Cleanspark Inc (CLSK): $0.104 billion

It is worth noting that the report reveals a significant increase in hedging or betting on the downside risk of AI/semiconductor-related assets, especially NVIDIA, VanEck Semiconductor ETF, Broadcom, AMD, TSMC, ASML, Micron, and others. The declared value of Q1 put options is approximately $8.459 billion, accounting for about 61.9% of its Q1 13F declared value; whereas the Q4 2025 put options are only about $8.91 million. This is not a minor change but a major shift in portfolio expression.

Due to 13F filings not disclosing the strike price, expiration date, premium, Delta, not revealing non-13F asset positions (such as shorts, futures, swaps, cash, etc.), and having a certain lag (data as of March 31, filings released today), the interpretation from this filing can only indicate that Leopold, in the high volatility and high valuation context of AI/semiconductors, has significantly increased the defense against drawdown risk or speculative put exposure.

SALP founder Leopold Aschenbrenner is a 25-year-old (born in 2001 or 2002) German prodigy investor who previously worked at FTX Future Fund and served as a researcher at OpenAI in 2023 (was fired in 2024 for alleged leakage of confidential information and refusal to cooperate with the investigation). In June 2024, he published a bestselling 165-page paper entitled "Situational Awareness: The Decade Ahead," elaborating on the imminent timeline and strategic significance of AGI, followed by directly founding the eponymous investment firm Situational Awareness LP. The fund is highly focused on the AI infrastructure sector, including power supply, data center computing power, semiconductor optics, and Bitcoin mining farm transformation to HPC, among other areas. Within just over a year of its establishment, the fund achieved astonishing growth. The Q4 2024 public holdings (13F) were only about $225 million, and by Q4 2025, they had rapidly expanded to approximately $5.52 billion, becoming one of Wall Street's most watched AI-themed funds.