Situational Awareness LP
Situational Awareness LP manages Situational Awareness LP, an institutional investment manager registered with the SEC (CIK: 2045724). Portfolio data sourced from Form 13F filings.
High-conviction bets on semiconductors now define Situational Awareness LP’s strategy. The firm’s Q1 filing revealed a concentrated $13.68 billion portfolio where 13 new positions were established, nearly half its 29 total holdings. Top stakes in the VanEck Semiconductor ETF (SMH) at 15.0% and Nvidia (NVDA) at 11.5% show an aggressive concentration in a single, red-hot sector.
Situational Awareness LP (Situational Awareness LP) — Top 10 Holdings Q1 2026
| Stock | Weight | Activity | Shares Δ | Value |
|---|---|---|---|---|
 VANECK ETF TRUST | Put Option | +5.35M new | $2.05B ⚠ notional | |
NVIDIA CORPORATION | Put Option | +9.00M new | $1.57B ⚠ notional | |
SANDISK CORP | Call Option | −356K | $1.11B ⚠ notional | |
ORACLE CORP | Put Option | +7.29M new | $1.07B ⚠ notional | |
MICRON TECHNOLOGY INC | Call Option | +3.00M new | $1.01B ⚠ notional | |
BROADCOM INC | Put Option | +3.25M new | $1.01B ⚠ notional | |
ADVANCED MICRO DEVICES INC | Put Option | +4.86M new | $989.3M ⚠ notional | |
BLOOM ENERGY CORP | Call Option | −14.08M | $934.1M ⚠ notional | |
TAIWAN SEMICONDUCTOR MANUFAC | Call Option | +2.66M new | $897.5M ⚠ notional | |
COREWEAVE INC | Call Option | −24.83M | $696.6M ⚠ notional |
Situational Awareness LP’s Implied Market View — Q1 2026
Last Quarter Activity — Situational Awareness LP (Situational Awareness LP) Q1 2026
| Stock | Action | Shares Δ | Value | Wt. |
|---|---|---|---|---|
VANECK ETF TRUST | New Buy | +5.35M new | $2.05B | 15.01% |
NVIDIA CORPORATION | New Buy | +9.00M new | $1.57B | 11.47% |
ORACLE CORP | New Buy | +7.29M new | $1.07B | 7.84% |
MICRON TECHNOLOGY INC | New Buy | +3.00M new | $1.01B | 7.4% |
BROADCOM INC | New Buy | +3.25M new | $1.01B | 7.36% |
ADVANCED MICRO DEVICES INC | New Buy | +4.86M new | $989.3M | 7.23% |
TAIWAN SEMICONDUCTOR MANUFAC | New Buy | +2.66M new | $897.5M | 6.56% |
ASML HLDG NV N Y REGISTRY | New Buy | +379K new | $500.2M | 3.66% |
QoQ change vs Dec 2025 filing.
| Stock | Action | Shares Δ | Value | Wt. |
|---|---|---|---|---|
SANDISK CORP | Reduce −17% | −356K | $1.11B | 8.14% |
BLOOM ENERGY CORP | Reduce −67% | −14.08M | $934.1M | 6.83% |
COREWEAVE INC | Reduce −73% | −24.83M | $696.6M | 5.09% |
CORE SCIENTIFIC INC NEW | Reduce −10% | −2.75M | $389.1M | 2.84% |
INTEL CORP | Reduce −91% | −36.67M | $168.0M | 1.23% |
SOLARIS ENERGY INFRAS INC | Reduce −41% | −761K | $62.5M | 0.46% |
BITF BITF BITFARMS LTD | Full Exit | Sold 100% | $16.2M | 0% |
CIFR CIFR CIPHER MINING INC | Full Exit | Sold 100% | $154.5M | 0% |
COHR COHR COHERENT CORP | Full Exit | Sold 100% | $88.6M | 0% |
EQT EQT EQT CORP | Full Exit | Sold 100% | $170.6M | 0% |
QoQ change vs Dec 2025 filing.
New Positions — Situational Awareness LP (Situational Awareness LP) Q1 2026
Situational Awareness LP made a concentrated bet on technology stocks in Q1 2026. The firm initiated a $2.05 billion position in the VANECK ETF TRUST (SMH), its largest new purchase. NVIDIA CORPORATION (NVDA) followed with a $1.57 billion investment, demonstrating deep conviction in market-leading semiconductors. Adding a $1.07 billion stake in ORACLE CORP (ORCL) infused significant enterprise software exposure. These moves express a focused belief in computing power and data infrastructure.
The firm’s Q1 purchases confirm a pronounced emphasis on processing power and data management. MICRON TECHNOLOGY INC (MU) and BROADCOM INC (AVGO) each received $1.01 billion allocations. ADVANCED MICRO DEVICES INC (AMD) added another $989.3 million. These six new holdings, totaling $7.7 billion, demonstrate a strategic focus on chip manufacturers and enterprise software, targeting foundational components of the digital economy.
| Stock | Action | Value |
|---|---|---|
VANECK ETF TRUST | Put Option | $2.05B ⚠ notional |
| See SMH analyst sentiment | ||
NVIDIA CORPORATION | Put Option | $1.57B ⚠ notional |
| See NVDA analyst sentiment | ||
ORACLE CORP | Put Option | $1.07B ⚠ notional |
| See ORCL analyst sentiment | ||
MICRON TECHNOLOGY INC | Call Option | $1.01B ⚠ notional |
| See MU analyst sentiment | ||
BROADCOM INC | Put Option | $1.01B ⚠ notional |
| See AVGO analyst sentiment | ||
ADVANCED MICRO DEVICES INC | Put Option | $989.3M ⚠ notional |
| See AMD analyst sentiment | ||
TAIWAN SEMICONDUCTOR MANUFAC | Call Option | $897.5M ⚠ notional |
| See TSM analyst sentiment | ||
ASML HLDG NV N Y REGISTRY | Put Option | $500.2M ⚠ notional |
| See ASML analyst sentiment | ||
T1 ENERGY INC | New Buy | $43.9M |
| See TE analyst sentiment | ||
KEEL BITFARMS LTD | New Buy | $38.8M |
GLW CORNING INC | Put Option | $21.7M ⚠ notional |
SHAZ SHARONAI HOLDINGS INC | New Buy | $18.1M |
HIVE HIVE DIGITAL TECHNOLOGIES LT | New Buy | $6.4M |
Increased Positions — Situational Awareness LP (Situational Awareness LP)
Situational Awareness LP committed fresh capital to existing holdings during Q1 2026. The institutional investment manager expanded its IREN position by 34%, pushing its total value to $401.0 million. Situational Awareness grew its APLD stake 19%, now valued at $320.0 million. These increases display clear conviction in specific technology sectors.
Crypto mining stocks attracted the most aggressive allocation increases. The firm boosted its RIOT holding by 86%, raising its value to $142.2 million. Situational Awareness’s CLSK stake surged 648%, reaching $104.5 million. Situational Awareness also increased its BTDR position 92%, bringing its value to $29.8 million. These substantial adds illustrate a strong belief in the sector’s near-term prospects.
| Stock | Action | Value |
|---|---|---|
IREN IREN LIMITED | Add +34% | $401.0M |
APPLIED DIGITAL CORP | Add +19% | $320.0M |
RIOT RIOT PLATFORMS INC | Add +86% | $142.2M |
CLSK CLEANSPARK INC | Add +648% | $104.5M |
BTDR BITDEER TECHNOLOGIES GROUP | Add +92% | $29.8M |
Stocks Sold or Reduced — Situational Awareness LP (Situational Awareness LP) Q1 2026
Situational Awareness LP aggressively trimmed its equity exposure during Q1 2026. The institutional investment manager nearly exited Intel Corp., slashing its stake by 91%. Coreweave Inc. shares faced a 73% reduction. Bloom Energy Corp. also saw a significant reduction as the firm sold 67% of its position.
Other portfolio adjustments included a 41% cut in Solaris Energy Infras Inc. holdings. Situational Awareness LP reduced its SanDisk Corp. investment by 17%, while Core Scientific Inc. New saw a 10% reduction. These moves indicate a clear re-assessment across multiple positions.
Why Situational Awareness LP’s (Situational Awareness LP) Moves Matter
Situational Awareness LP’s Q1 2026 13F filing signals a concentrated bet on semiconductor strength. The manager assigned 15.0% of its portfolio, or $2.05 billion, to the SMH ETF. Individual chip giant Nvidia claims 11.5% of assets, valued at $1.57 billion. SanDisk, another semiconductor player, comprises 8.1% with $1.11 billion. This heavy allocation to just three semiconductor-focused holdings—accounting for 34.6% of reported assets—reflects a firm belief in technology’s sustained earnings power. The addition of 13 new positions suggests a hunt for further opportunities within or adjacent to this core conviction.
Retail investors seeking insight can examine Situational Awareness LP’s sector conviction. The manager’s focused bets on SMH, Nvidia, and SanDisk illuminate potential areas of institutional capital flow. However, investors face a crucial caveat: Form 13F data always arrives with a significant lag. The filing for Q1 2026 discloses positions only as of March 31, 2026. Regulators publish this information up to 45 days later. Copying these reported trades blindly ignores subsequent market shifts and a portfolio manager’s real-time adjustments. Blindly following outdated disclosures rarely yields market-beating returns.
About Situational Awareness LP — Situational Awareness LP
Situational Awareness LP manages Situational Awareness LP, an institutional investment manager registered with the SEC (CIK: 2045724). Portfolio data sourced from Form 13F filings.
- Manages Situational Awareness LP — SEC-registered institutional investment manager
- CIK: 2045724 — Required to disclose equity holdings quarterly via Form 13F
Situational Awareness LP (Situational Awareness LP) — Complete Q1 2026 13F Holdings
| Stock | Weight | Activity | Shares Δ | Value |
|---|---|---|---|---|
VANECK ETF TRUST | Put Option | +5.35M new | $2.05B ⚠ notional | |
NVIDIA CORPORATION | Put Option | +9.00M new | $1.57B ⚠ notional | |
SANDISK CORP | Call Option | −356K | $1.11B ⚠ notional | |
ORACLE CORP | Put Option | +7.29M new | $1.07B ⚠ notional | |
MICRON TECHNOLOGY INC | Call Option | +3.00M new | $1.01B ⚠ notional | |
BROADCOM INC | Put Option | +3.25M new | $1.01B ⚠ notional | |
ADVANCED MICRO DEVICES INC | Put Option | +4.86M new | $989.3M ⚠ notional | |
BLOOM ENERGY CORP | Call Option | −14.08M | $934.1M ⚠ notional | |
TAIWAN SEMICONDUCTOR MANUFAC | Call Option | +2.66M new | $897.5M ⚠ notional | |
COREWEAVE INC | Call Option | −24.83M | $696.6M ⚠ notional | |
ASML HLDG NV N Y REGISTRY | Put Option | +379K new | $500.2M ⚠ notional | |
IREN IREN LIMITED | Add +34% | +3.00M | $401.0M | |
CORE SCIENTIFIC INC NEW | Reduce −10% | −2.75M | $389.1M | |
APPLIED DIGITAL CORP | Add +19% | +2.14M | $320.0M | |
INTEL CORP | Put Option | −36.67M | $168.0M ⚠ notional | |
RIOT RIOT PLATFORMS INC | Add +86% | +5.33M | $142.2M | |
CLSK CLEANSPARK INC | Add +648% | +10.64M | $104.5M | |
SOLARIS ENERGY INFRAS INC | Reduce −41% | −761K | $62.5M | |
T1 ENERGY INC | New Buy | +10.00M new | $43.9M | |
KEEL BITFARMS LTD | New Buy | +19.88M new | $38.8M | |
BTDR BITDEER TECHNOLOGIES GROUP | Add +92% | +1.65M | $29.8M | |
PSIX POWER SOLUTIONS INTL INC | Hold | — | $26.3M | |
GLW CORNING INC | Put Option | +160K new | $21.7M ⚠ notional | |
WYFI WHITEFIBER INC | Hold | — | $20.9M | |
BW BABCOCK & WILCOX ENTERPRISES | Hold | — | $19.9M | |
SHAZ SHARONAI HOLDINGS INC | New Buy | +796K new | $18.1M | |
PUMP PROPETRO HLDG CORP | Hold | — | $13.1M | |
INFY INFOSYS LTD | Put Option | — | $6.8M ⚠ notional | |
HIVE HIVE DIGITAL TECHNOLOGIES LT | New Buy | +3.39M new | $6.4M |
For informational purposes only. Not investment advice. Data: sec-api.io & SEC EDGAR 13F-HR filings. Situational Awareness LP (Situational Awareness LP) 13F filings are filed 45 days after quarter end — positions may have changed. Last updated: 2026-05-19.