Investors / Leopold Aschenbrenner
Leopold Aschenbrenner
$13.7B AUM · $2.8B long-equity AI exposure · pure AGI thesis with active hedges — puts on AMD/ASML/AVGO
AI Holdings
17 positions · Q1 2026| # | Ticker | Company | Layer | Value | Shares | % of AUM | Entry-Q range |
|---|---|---|---|---|---|---|---|
| 1 | BE | Bloom Energy Corp | Power | $878.7M | 6.5M shares | 6.4% | — |
| 2 | CRWV | CoreWeave Inc | Infra | $556.1M | 7.2M shares | 4.1% | — |
| 3 | IREN | IREN Limited | Power | $401M | 11.7M shares | 2.9% | — |
| 4 | CORZ | Core Scientific Inc | Power | $389.1M | 26M shares | 2.8% | — |
| 5 | APLD | Applied Digital Corp | Power | $320M | 13.5M shares | 2.3% | — |
| 6 | CLSK | CleanSpark Inc | Power | $104.5M | 12.3M shares | 0.8% | — |
| 7 | BITF | Bitfarms Ltd | Power | $38.8M | 19.9M shares | 0.3% | — |
| 8 | BTDR | Bitdeer Technologies Group | Power | $29.8M | 3.4M shares | 0.2% | — |
| 9 | AMD | Advanced Micro Devices | Chip | $20.2M | 99.1K shares | 0.1% | — |
| 10 | BW | Babcock & Wilcox Enterprises | Power | $19.9M | 1.4M shares | 0.1% | — |
| 11 | INTC | Intel Corp | ChipEnabler | $8.9M | 202.3K shares | 0.1% | — |
| 12 | TSM | Taiwan Semiconductor (ADR) | Chip | $7.6M | 22.4K shares | 0.1% | — |
| 13 | HIVE | HIVE Digital Technologies | Power | $6.4M | 3.4M shares | 0.0% | — |
| 14 | ASML | ASML Holding NV (ADR) | ChipEnabler | $6.1M | 4.6K shares | 0.0% | — |
| 15 | MU | Micron Technology | ChipEnabler | $5.9M | 17.4K shares | 0.0% | — |
| 16 | GLW | Corning Inc | Enabler | $718K | 5.3K shares | 0.0% | — |
| 17 | NVDA | NVIDIA Corp | Chip | $498K | 2.9K shares | 0.0% | — |
This page surfaces Aschenbrenner's universe-eligible AI/Robotics/Power positions. He also holds INFY (AI consulting), ProPetro, T1 Energy, WhiteFiber, and small speculative names that fall outside our current AI value-chain definition. Put options on AMD/ASML/AVGO are listed separately under Hedges and excluded from the AI value total.
Hedges & Tactical Bets
Put options and call options
- NVDA↓ Put$1568MNotional8,992,300 shares
- ORCL↓ Put$1073MNotional7,293,000 shares
- AVGO↓ Put$1006MNotional3,251,100 shares
- AMD↓ Put$969MNotional4,764,100 shares
- MU↓ Put$584MNotional1,727,700 shares
- TSM↓ Put$535MNotional1,583,400 shares
- ASML↓ Put$494MNotional374,100 shares
- MU↑ Call$422MNotional1,250,000 shares
- TSM↑ Call$355MNotional1,050,000 shares
- INTC↓ Put$159MNotional3,605,400 shares
- CRWV↑ Call$141MNotional1,814,500 shares
- BE↑ Call$55MNotional408,500 shares
- GLW↓ Put$21MNotional154,600 shares
Holdings Timeline
Q4 2024
Q1 2025
Q2 2025
Q3 2025
Q4 2025
Q1 2026
ORCL
—
—
—
—
—
NEW+7M
AVGO
—
NEW+700K
ADD+492K
NEW+230K
DROP
ADD+3M
AMD
—
—
—
—
—
NEW+99K
ASML
—
—
—
—
—
NEW+5K
IREN
—
NEW+3M
ADD+3M
ADD+820K
ADD+1M
ADD+3M
CORZ
—
NEW+5M
ADD+3M
ADD+12M
ADD+9M
TRIM−3M
APLD
—
NEW+4M
ADD+3M
TRIM−528K
ADD+5M
ADD+2M
CRWV
—
NEW+1M
DROP
ADD+4M
ADD+2M
ADD+1M
CLSK
—
—
—
—
NEW+2M
ADD+11M
BE
—
—
—
—
NEW+10M
TRIM−4M
BITF
—
—
—
—
NEW+7M
ADD+13M
BTDR
—
—
—
NEW+930K
ADD+858K
ADD+2M
BW
—
—
—
—
NEW+1M
HOLD
INTC
—
NEW+20M
HOLD
HOLD
NEW+1
NEW+4M
TSM
—
—
—
NEW+270K
NEW
NEW+1M
HIVE
—
—
—
—
—
NEW+3M
MU
—
—
—
NEW+300K
NEW
NEW+1M
GLW
—
—
—
—
—
NEW+155K
NVDA
—
—
—
NEW+2M
NEW
ADD+7M
COHR
—
—
—
NEW+154K
ADD+326K
DROP
VRT
HOLD
DROP
—
—
—
—
NEW
ADD
HOLD
TRIM (light → heavy)
Not held
Hover any cell for share + value delta| Period | Action | Ticker | Δ Shares | Δ Value |
|---|---|---|---|---|
| Q1 2026 | ADD | NVDA | +7,392,300 | +$1.3B |
| Q1 2026 | NEW | ORCL | +7,293,000 | +$1.1B |
| Q1 2026 | NEW | AMD | +4,764,100 | +$969.2M |
| Q1 2026 | ADD | AVGO | +3,021,100 | +$930.4M |
| Q1 2026 | TRIM | CRWV | -9,000,000 | $-633.9M |
| Q1 2026 | ADD | MU | +1,427,700 | +$533.5M |
| Q1 2026 | NEW | ASML | +374,100 | +$494.1M |
| Q1 2026 | ADD | TSM | +1,313,400 | +$459.7M |
| Q1 2026 | NEW | MU | +1,250,000 | +$422.3M |
| Q1 2026 | NEW | TSM | +1,050,000 | +$354.8M |
| Q1 2026 | NEW | INTC | +3,605,400 | +$159.1M |
| Q1 2026 | ADD | CRWV | +1,079,107 | +$119.3M |
| Q1 2026 | DROP | COHR | -480,300 | $-88.6M |
| Q1 2026 | ADD | CLSK | +10,635,739 | +$87.9M |
| Q1 2026 | ADD | IREN | +2,998,214 | +$72.4M |
| Q1 2026 | ADD | APLD | +2,139,378 | +$41.9M |
| Q1 2026 | TRIM | CORZ | -2,748,005 | $-29.6M |
| Q1 2026 | ADD | BITF | +12,978,740 | +$22.5M |
| Q1 2026 | NEW | GLW | +154,600 | +$21M |
| Q1 2026 | NEW | AMD | +99,138 | +$20.2M |
| Q1 2026 | HOLD | BE | 0 | +$19.9M |
| Q1 2026 | HOLD | BW | 0 | +$11.3M |
| Q1 2026 | ADD | BTDR | +1,651,450 | +$9.7M |
| Q1 2026 | ADD | INTC | +202,343 | +$8.9M |
| Q1 2026 | ADD | TSM | +22,423 | +$7.6M |
| Q1 2026 | NEW | HIVE | +3,391,547 | +$6.4M |
| Q1 2026 | NEW | ASML | +4,633 | +$6.1M |
| Q1 2026 | ADD | MU | +17,362 | +$5.9M |
| Q1 2026 | TRIM | BE | -3,590,614 | +$3.2M |
| Q1 2026 | NEW | GLW | +5,283 | +$718K |
| Q1 2026 | ADD | NVDA | +2,855 | +$498K |
| Q4 2025 | NEW | BE | +10,076,022 | +$875.5M |
| Q4 2025 | ADD | CRWV | +8,500,000 | +$457.7M |
| Q4 2025 | DROP | AVGO | -1,191,606 | $-328.5M |
| Q4 2025 | ADD | APLD | +5,274,905 | +$138.9M |
| Q4 2025 | ADD | CRWV | +1,983,356 | $-126.5M |
| Q4 2025 | ADD | COHR | +325,900 | +$72M |
| Q4 2025 | HOLD | INTC | 0 | +$67.8M |
| Q4 2025 | ADD | CORZ | +8,575,944 | +$56.7M |
| Q4 2025 | NEW | BE | +408,500 | +$35.5M |
| Q4 2025 | NEW | CLSK | +1,640,400 | +$16.6M |
| Q4 2025 | NEW | BITF | +6,897,100 | +$16.2M |
| Q4 2025 | ADD | IREN | +1,480,200 | $-10.2M |
| Q4 2025 | NEW | BW | +1,353,900 | +$8.6M |
| Q4 2025 | ADD | BTDR | +858,400 | +$4.2M |
| Q4 2025 | NEW | INTC | +1 | +$37 |
| Q4 2025 | NEW | MU | 0 | $0 |
| Q4 2025 | NEW | NVDA | 0 | $0 |
| Q4 2025 | NEW | TSM | 0 | $0 |
| Q3 2025 | ADD | CRWV | +4,115,456 | +$563.2M |
| Q3 2025 | NEW | CRWV | +2,314,500 | +$316.7M |
| Q3 2025 | NEW | NVDA | +1,600,000 | +$298.5M |
| Q3 2025 | ADD | IREN | +820,037 | +$245.6M |
| Q3 2025 | HOLD | INTC | 0 | +$225.6M |
| Q3 2025 | ADD | CORZ | +12,186,496 | +$225.6M |
| Q3 2025 | NEW | CRWV | +1,400,000 | +$191.6M |
| Q3 2025 | NEW | AVGO | +230,000 | +$75.9M |
| Q3 2025 | NEW | TSM | +270,000 | +$75.4M |
| Q3 2025 | TRIM | APLD | -527,645 | +$72.7M |
| Q3 2025 | NEW | MU | +300,000 | +$50.2M |
| Q3 2025 | NEW | COHR | +154,400 | +$16.6M |
| Q3 2025 | NEW | BTDR | +929,600 | +$15.9M |
| Q2 2025 | ADD | AVGO | +491,606 | +$211.3M |
| Q2 2025 | ADD | CORZ | +3,472,460 | +$103.7M |
| Q2 2025 | ADD | IREN | +3,034,254 | +$72.8M |
| Q2 2025 | DROP | CRWV | -1,225,000 | $-45.4M |
| Q2 2025 | ADD | APLD | +2,556,200 | +$43.7M |
| Q2 2025 | HOLD | INTC | 0 | $-6.3M |
| Q1 2025 | NEW | INTC | +20,237,400 | +$459.6M |
| Q1 2025 | NEW | AVGO | +700,000 | +$117.2M |
| Q1 2025 | DROP | VRT | -455,146 | $-51.7M |
| Q1 2025 | NEW | CRWV | +1,225,000 | +$45.4M |
| Q1 2025 | NEW | CORZ | +4,521,578 | +$32.7M |
| Q1 2025 | NEW | APLD | +4,035,600 | +$22.7M |
| Q1 2025 | NEW | IREN | +3,366,130 | +$20.5M |
| Q4 2024 | HOLD | VRT | +455,146 | +$51.7M |
Quotes
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