Situational Awareness LP
Long book
$3.86B
Q1 2026
Positions
26
Top-10 weight
94%
concentration
Last quarter
+75.5%
SPY +14.8%
Turnover
53%
of book per quarter
Strategy in plain words
auto-generated from filingsSituational Awareness LP is a concentrated fundamental stock-picker, running a $3.86B US long book across 26 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: BLOOM ENERGY CORP- A, SANDISK CORP, COREWEAVE INC-CL A, IREN LTD, CORE SCIENTIFIC INC.
Over the last 6 quarters its long book ran on average 24.9pp per quarter ahead of the S&P 500, beating the index in 4 of 6 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q4 2024
-27.8%
Q1 2025
+74.4%
Q2 2025
+32.9%
Q3 2025
-14.8%
Q4 2025
+37.0%
Q1 2026
+75.5%
Sector allocation
Technology 44%
Financials 29%
Industrials 26%
Other 1%
Energy 0%
Long book by quarter
What does Situational Awareness own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BE BLOOM ENERGY CORP- A | Industrials | 6.5M | $878.7M | 22.8% | -35.6% |
| SNDK SANDISK CORP | Technology | 1.1M | $724.4M | 18.8% | +8.2% |
| CRWV COREWEAVE INC-CL A | Technology | 7.2M | $556.1M | 14.4% | +17.7% |
| IREN IREN LTD | Financials | 11.7M | $401.0M | 10.4% | +34.5% |
| CORZ CORE SCIENTIFIC INC | Financials | 26.0M | $389.1M | 10.1% | -9.6% |
| APLD APPLIED DIGITAL CORP | Technology | 13.5M | $320.0M | 8.3% | +18.9% |
| RIOT RIOT PLATFORMS INC | Financials | 11.5M | $142.2M | 3.7% | +86.5% |
| CLSK CLEANSPARK INC | Financials | 12.3M | $104.5M | 2.7% | +648.4% |
| SEI SOLARIS ENERGY INFRASTRUCTUR | Industrials | 1.1M | $62.5M | 1.6% | -40.8% |
| TE T1 ENERGY INC | Technology | 10.0M | $43.9M | 1.1% | New |
| 1B2 BITFARMS LTD/CANADA | — | 19.9M | $38.8M | 1.0% | +188.2% |
| BTDR BITDEER TECHNOLOGIES GROUP-A | Financials | 3.4M | $29.8M | 0.8% | +92.4% |
| PSIX POWER SOLUTIONS INTERNATIONA | Industrials | 432.3K | $26.3M | 0.7% | Held |
| WYFI WHITEFIBER INC | Financials | 1.8M | $20.9M | 0.5% | Held |
| AMD ADVANCED MICRO DEVICES | Technology | 99.1K | $20.2M | 0.5% | New |
| BW BABCOCK & WILCOX ENTERPR | Industrials | 1.4M | $19.9M | 0.5% | Held |
| SHAZ SHARONAI HOLDINGS INC | Technology | 796.1K | $18.1M | 0.5% | New |
| PUMP PROPETRO HOLDING CORP | Energy | 910.3K | $13.1M | 0.3% | Held |
| INTC INTEL CORP | Technology | 202.3K | $8.9M | 0.2% | +20234300.0% |
| HIVE HIVE DIGITAL TECHNOLOGIES LT | Financials | 3.4M | $6.4M | 0.2% | New |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 4.6K | $6.1M | 0.2% | New |
| MU MICRON TECHNOLOGY INC | Technology | 17.4K | $5.9M | 0.2% | New |
| GLW CORNING INC | Industrials | 5.3K | $718K | 0.0% | New |
| NVDA NVIDIA CORP | Technology | 2.9K | $498K | 0.0% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 18, 2026 | 42 | $13.68B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 11, 2026 | 29 | $5.52B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 28 | $4.14B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 9 | $2.12B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 12 | $1.01B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 12, 2025 | 6 | $254.8M | canonical | SEC ↗ |
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