AI stock god's fund Situational Awareness posts 67% drawdown in July

Odaily News: AI hedge fund Situational Awareness has dropped approximately 67% since July, hit by a major pullback in AI stocks. In a letter to investors, fund founder Leopold Aschenbrenner said, "This month we let everyone down." Despite the severe drawdown in July, Situational Awareness is still up about 80% year-to-date. As of end of May, the fund's returns this year had reached approximately 270%.

Previously reported, massive losses led Situational to sell a large portion of its public stock holdings to Ken Griffin's Citadel to raise cash and meet lender margin requirements. Additionally, the fund had previously planned to sell approximately $3.5 billion worth of Anthropic equity to a consortium of investors led by Greenoaks and Sequoia Capital, but later withdrew from the deal. (WSJ)