Situational Awareness sheds public equity as Citadel snaps up holdings

Leopold Aschenbrenner managed to shield his most valuable asset from the fire sale: a substantial stake in the AI company Anthropic. While the firm liquidated its public holdings—which included heavy bets on hardware developers like Nebius and Sandisk—the private portfolio remained untouched. Anthropic, currently valued at $965 billion following a May funding round, is slated for a public offering in the coming months. Aschenbrenner’s fiancée maintains a professional role at the AI firm, further anchoring the relationship.

The liquidation followed a series of margin calls triggered by leveraged positions. As the value of these bets declined, bank partners demanded additional collateral, forcing Aschenbrenner into a downward spiral that attracted bidders like Millennium and Jane Street before Citadel ultimately secured the deal. Despite the forced sell-off, sources indicate the fund will continue to trade a smaller volume of public equities, shifting its primary focus toward the private AI sector that defined its initial meteoric rise.