Artificial Intelligence (AI) Prodigy Leopold Aschenbrenner's Situational Awareness Fund Owns Only 24 Stocks. These Are the Top 7 Holdings.

By Jennifer Saibil – Apr 25, 2026 at 8:25AM ESTKey PointsAschenbrenner has an OpenAI pedigree and $5.5 billion in his fund.His stocks are focused on AI infrastructure.He sees an AI revolution on the way, beyond what people are preparing for.Leopold Aschenbrenner's venture fund, Situational Awareness, has become one of the most widely followed private funds today. It's named after a thesis he wrote that's available to read online, where he details his vision for artificial general intelligence (AGI). "Everyone is now talking about AI, but few have the faintest glimmer of what is about to hit them," he wrote. "We will have superintelligence, in the true sense of the word." Aschenbrenner formerly worked at OpenAI, and he started the AGI-focused fund in 2024 with about $250 million. As of the end of the first quarter, Situational Awareness had $5.5 billion in funds and 24 stocks. They're mostly AI support stocks, rather than the headline AI names like Nvidia and Broadcom. Aschenbrenner is intimately familiar with the workings of AI development and has been ahead of the curve, and these stocks are all outperforming the S&P 500 this year. These are the top seven holdings. Image source: Getty Images. 1. Bloom Energy: 16% Aschenbrenner has made Bloom Energy (BE 2.61%) his biggest bet. This energy company sells solid oxide fuel cell systems, otherwise known as Bloom Energy Servers, that produce reliable on-site electricity for various facilities. Although the company has been around for a long time, it's gotten a new lease on life since its products can power large data centers off the electricity grid. Bloom Energy has joined the AI boom, and the stock is up 150% this year alone. Situational Awareness also owns Bloom Energy calls, a separate high-conviction take. ExpandNYSE: BEBloom EnergyToday's Change(-2.61%) $-6.19Current Price$231.38Key Data PointsMarket Cap$65BDay's Range$231.27 - $241.1952wk Range$16.05 - $242.20Volume223KAvg Vol11MGross Margin30.89% 2. Lumentum Holdings: 8.7% Lumentum (LITE +4.10%) provides optical infrastructure for data centers, cloud computing, and telecommunications. It makes laser and photonic equipment that speeds up data transfer, which is why it has become a core component of AI technology. Lumentum has also been in operation for many years, but AI infused new life into the company and the stock, and it's up 143% year to date. 3. CoreWeave: 7.9% CoreWeave (CRWV 6.20%) is one of the fund's more well-known stocks for AI investors. The company, which is backed by Nvidia, operates cloud and data center infrastructure and enables customers to run training and inference for AI hyperscaler development more efficiently than using traditional cloud platforms. CoreWeave stock is up 63% this year. The fund's second-largest position is actually CoreWeave calls, which account for 14% of the portfolio. ExpandNASDAQ: CRWVCoreWeaveToday's Change(-6.20%) $-7.28Current Price$110.14Key Data PointsMarket Cap$58BDay's Range$106.51 - $121.0052wk Range$39.50 - $187.00Volume34MAvg Vol28MGross Margin47.77% 4. Core Scientific: 7.4% Core Scientific (CORZ +0.34%) operates data centers, and it recently switched from mostly supporting cryptocurrency mining to supporting AI development. It has some serious funding from companies like JPMorgan Chase and Morgan Stanley as it builds out its infrastructure to meet high demand. Its stock is up 36% year to date. 5. Iren: 6% Iren (IREN 2.65%) is another data center infrastructure provider, and it has also switched from cryptocurrency mining to AI development. It buys land to build data centers, and it focuses on power-connected properties. Because it owns and builds its own locations, it can also build according to client specifications. Iren has the lowest year-to-date gains on this list at 29%, but it's up 772% over the past year. 6. Applied Digital: 5% Applied Digital (APLD 3.66%) is also a more well-known AI stock, and it has also moved from crypto mining to AI (sensing a theme?) It develops custom data centers for clients and rents them out, and it's building out at a fast pace to meet incredible demand. It has a partnership with CoreWeave, which is one of its biggest clients. Applied Digital stock is up 32% this year, and 715% over the past year. ExpandNASDAQ: APLDApplied DigitalToday's Change(-3.66%) $-1.33Current Price$35.02Key Data PointsMarket Cap$10.0BDay's Range$34.82 - $38.5252wk Range$4.20 - $42.27Volume1.1MAvg Vol23MGross Margin27.07% 7. Sandisk: 4.5% Sandisk (SNDK +6.16%) is yet another AI infrastructure company, but it fills a different gap than most of the stocks on this list. Its NAND flash memory products resolve one of the biggest problems for technology companies by providing non-volatile memory, or continuous memory without a power source. It's also energy efficient and low cost. Like some of these other stocks, it's a company that has reinvented itself to meet new AI needs for storage solutions, and its niche products are in high demand. Sandisk stock is up 284% this year and a whopping 2,800% over the past year.Read NextApr 24, 2026 •By Scott LevineWhy Bloom Energy Stock Is Charging Higher This WeekApr 17, 2026 •By Neha ChamariaWhy Bloom Energy Stock Jumped to a 52-Week High This WeekApr 16, 2026 •By Matthew BenjaminBloom Energy Is Soaring. Here's Why.Apr 14, 2026 •By Joe TenebrusoWhy Bloom Energy Stock Surged TodayApr 14, 2026 •By Todd ShriberCould Investing $10,000 in Bloom Energy Make You a Millionaire?Apr 14, 2026 •By Matt DiLalloAI Is Creating a Power Crisis.

This Fuel Cell Stock Just Surged More Than 20% and Could Have More Room to Run.About the AuthorJennifer Saibil has been a contributing Motley Fool stock market analyst covering the consumer goods and financial sectors since 2019. She previously worked in the financial sector and has written for other finance publications. She holds a bachelor’s degree in finance from Yeshiva University and a master’s degree in public administration from New York University’s Wagner School of Public Service.TMFanibirdStocks MentionedBloom EnergyNYSE: BE$231.17(-2.69%)-$6.40JPMorgan ChaseNYSE: JPM$308.28(-1.09%)-$3.41S&P 500 IndexSNPINDEX: ^GSPC$7,165.08(+0.80%)+$56.68Morgan StanleyNYSE: MS$188.07(-0.31%)-$0.58NvidiaNASDAQ: NVDA$208.24(+4.30%)+$8.60BroadcomNASDAQ: AVGO$422.53(+0.62%)+$2.59LumentumNASDAQ: LITE$881.84(+4.13%)+$34.95Applied DigitalNASDAQ: APLD$34.98(-3.77%)-$1.37IrenNASDAQ: IREN$50.64(-2.65%)-$1.38Core ScientificNASDAQ: CORZ$20.88(+0.34%)+$0.07CoreWeaveNASDAQ: CRWV$110.14(-6.20%)-$7.28SandiskNASDAQ: SNDK$989.90(+6.16%)+$57.47*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.