Citadel takes most of AI hedge fund Situational’s stock book
What's new: Leopold Aschenbrenner's fund kept about $10 billion in stocks and private bets, including an Anthropic stake valued near $5 billion.
Citadel bought most of the public stock portfolio of Situational Awareness, the AI-focused hedge fund run by former OpenAI researcher Leopold Aschenbrenner, after steep losses in tech shares forced the fund to unwind positions. The deal covered the portion of the portfolio financed with broker leverage, with Goldman Sachs, JPMorgan Chase, Bank of America and Citigroup helping facilitate the transaction. Situational had held sizable stakes in Broadcom, Intel and CoreWeave. After the sale, the fund is set to retain a roughly $10 billion book of stocks and private investments, including its Anthropic holding, which sources valued at about $5 billion. The move comes as hedge funds slash crowded AI trades amid a wider sector selloff.