Leopold Aschenbrenner’s Q1 2026 13F filing
An ex-OpenAI Researcher’s Q1 2026 13F: Large Notional Puts on AI Names with Energy Exposure
Leopold Aschenbrenner’s Q1 2026 13F filing shows large put positions reported on a notional basis in major semiconductor and cloud names, alongside long positions in energy and storage infrastructure.
Put positions (notional value):
• VanEck Semiconductor ETF: $2.0B
• NVIDIA $英偉達(NVDA)$ : $1.6B
• Oracle: $1.1B
• Broadcom: $1.0B
• AMD $美國超微公司(AMD)$ : $1.0B
• ASML: $0.5B
• Intel: $0.2B
Spread positions (notional):
• Micron Technology: $0.6B put / $0.4B call
• TSMC: $0.5B put / $0.4B call
Long positions (market value):
• Sandisk $閃迪(SNDK)$ : $0.7B long + $0.4B call
• Bloom Energy: $0.9B
• CoreWeave: $0.6B long + $0.1B call
• IREN: $0.4B
Important note: The put amounts above represent notional value only (underlying exposure). They are not the actual premium paid or market value of the options and should not be directly compared to the long positions.
As models grow more compute-intensive, power and storage capacity may become increasingly important constraints.
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