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Situational Awareness Fund Collapses, Losing $35 Billion

8/18/2026

Summary

Story summary

The Situational Awareness fund collapsed, losing $35 billion after July share drops.
The fund held $5.7 billion in SanDisk and $5.6 billion in Micron, whose July shares fell 47% and 29%.
Margin calls forced a fire-sale to billionaire Ken Griffin’s Citadel, shrinking the fund from $45 billion to $10 billion.
The collapse occurred days before former OpenAI researcher Leopold Aschenbrenner held his lavish California wedding.
Investors in the fund included Patrick Collison and Nat Friedman.

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Story summary

The Situational Awareness fund collapsed, losing $35 billion after July share drops.
The fund held $5.7 billion in SanDisk and $5.6 billion in Micron, whose July shares fell 47% and 29%.
Margin calls forced a fire-sale to billionaire Ken Griffin’s Citadel, shrinking the fund from $45 billion to $10 billion.
The collapse occurred days before former OpenAI researcher Leopold Aschenbrenner held his lavish California wedding.
Investors in the fund included Patrick Collison and Nat Friedman.