AI Hedge Fund Sells Portfolio, Keeps Anthropic Stake

Situational Awareness, the AI-focused hedge fund run by 25-year-old former OpenAI researcher Leopold Aschenbrenner, has sold most of its public stock portfolio to Ken Griffin's Citadel after steep losses. The fund, which once managed $45 billion and returned 439% through June, saw holdings in AI infrastructure stocks collapse by over 30%, with leverage amplifying the damage. Assets have fallen to roughly $10 billion. Despite the selloff, the fund retains its private investments, most notably a $5 billion stake in Anthropic, which was valued at $965 billion in May and could go public as soon as October. A successful Anthropic IPO could significantly offset the fund's public-market losses.