Leopold Aschenbrenner's Fund Resumes Options Trading with Major Tech Bets, CNBC Reports

Leopold Aschenbrenner's investment fund, Situational Awareness, has resumed trading in the options market, purchasing hundreds of millions of dollars in premiums across several technology-related companies, according to a new report.

Significant Options Purchases

The activity was reported Friday by CNBC anchor David Faber, who cited anonymous sources. Faber stated on-air that Aschenbrenner "was back in the options market late last week and early this week, buying hundreds of millions of dollars of options premium."

This move marks a notable return to the market for the fund. The scale of the premium outlay suggests a significant capital deployment, though the specific directional nature of the trades was not disclosed.

Focus on Tech and Energy Names

The options trades reportedly targeted a slate of companies that were previously part of the fund's investment portfolio. Such a strategy can be used to amplify exposure or hedge existing positions.

Ad

The list of firms involved in the recent purchases includes:

• SK Hynix
• SanDisk
• Advanced Micro Devices (AMD)
• Bloom Energy
• CoreWeave

Capital Sourcing Unclear

While the size of the trades is significant, Faber added that it is not currently known whether Aschenbrenner has raised new capital for public investments to fund these positions.

Large-scale options activity from a high-profile investor often draws scrutiny from other market participants watching for signals in key technology and energy stocks. The lack of clarity on funding leaves open questions about the fund's current strategy and capital structure.