Ken Griffin’s hedge fund Citadel, managing $71 billion in assets, acquired the public equity portfolio of Situational Awareness LP, the AI-focused fund founded by former OpenAI researcher Leopold Aschenbrenner in late 2024. The deal, completed on July 30, transferred roughly $5.5 billion in equity positions from a fund that had posted a 439% net return through the end of June. The forced sale resulted from margin pressures that triggered aggressive deleveraging, with peak assets under management estimated between $20 billion and $45 billion. Situational Awareness retained approximately $10 billion in remaining assets, including private equity stakes in companies such as Anthropic. The transferred portfolio included substantial positions in Broadcom, Intel, CoreWeave, and SK Hynix, as well as approximately $1 billion in Bitcoin mining stocks.
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