Leopold Aschenbrenner was forced to sell Situational Awareness’s entire public equity book to Citadel this week — in a …
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Leopold Aschenbrenner was forced to sell Situational Awareness’s entire public equity book to Citadel this week — in a single block trade. The fund had returned 439% after fees through June and hit $45 billion at the start of July. Then his four largest positions all fell more than 35% this month, while a short bet against software moved against him. Leverage on both sides. Prime brokers wanted cash immediately. Six days earlier he’d written to investors calling it the best buying window since…
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