Aschenbrenner’s Situational Awareness LP scaled from $255M to $13.7B in six quarters

Leopold Aschenbrenner expanded Situational Awareness LP from $255M to $13.7B over six quarters, with Q1 2026 showing the largest step-up. The filing shows a new $8.5B put-options overlay led by a $2.04B SMH put and additional puts on names including NVDA and AMD, while several long positions in AI-power and crypto-mining themes were increased.