Situational Awareness sold most of its public stock portfolio to Citadel, Ken Griffin's firm, after heavy losses on AI holdings, according to people familiar with the matter who spoke to the WSJ. Lenders had issued margin calls as investors dumped AI stocks, so Citadel took only the leveraged positions and Situational kept what it funded with client money. Leopold Aschenbrenner, a former OpenAI employee who launched the fund about two years ago with no professional investing experience, had grown it past $20 billion. Situational still holds its private stakes, which include Anthropic.
