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Fund Sells AI Holdings to Citadel, Banks Meet Margin Calls

8/1/2026

28 6 Full Breakdown

Summary

Story summary

Situational Awareness sold most public equity holdings to Citadel on July 30 after an AI-stock selloff forced an unwind.
A short Adobe bet backfired, forcing the fund to buy back the stock at higher prices and adding to its losses.
JPMorgan Chase, Bank of America and Goldman Sachs intervened to meet margin calls while the fund marketed its private-company stake in Anthropic.

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Story summary

Situational Awareness sold most public equity holdings to Citadel on July 30 after an AI-stock selloff forced an unwind.
A short Adobe bet backfired, forcing the fund to buy back the stock at higher prices and adding to its losses.
JPMorgan Chase, Bank of America and Goldman Sachs intervened to meet margin calls while the fund marketed its private-company stake in Anthropic.