The Allocator

A few years ago, people on FinTwit displayed strong conviction about the long term outlook of several companies. $NKE was called a $300 stock. It trades at $132 today, down $68%. $PYPL was called a $500 stock. It trades around $45 today, down $91%. $SHOP was called a $200 stock. It trades near $100 today, down $50%. $LULU was called a $450 stock. It trades around $119 today, down $73%. Sometimes the best move is to buy the broad market and step aside. It compounds quietly while convictions and narratives come and go.

Leopold Aschenbrenner just updated his stock portfolio for his Situational Awareness Fund, every stock he owned so so far for the last 3 months: $878.7M of Bloom Energy $BE $724.4M of Sandisk $SNDK $556.1M of CoreWeave $CRWV $401M of Iren Limited $IREN $389.1M of Core Scientific $CORZ $320M of Applied Digital $APLD $142.2M of Riot Platforms $RIOT $104.5M of Cleanspark $CLSK $62.5M of Solaris $SEI $43.9M of T1 Energy $TE $38.8M of Bitfarms $29.8M of Bitdeer $BTDR $26.3M of Power Solutions $PSIX $21M of Corning $GLW $20.9M of WhiteFiber $WYFI $20.2M of $AMD $19.9M of Babcock and Wilcox $BW $18.1M of SharonAI $SHAZ $13.1M of Propetro $PUMP $10.3M of $SMH $8.9M of Intel $INTC $7.6M of Taiwan Semi $TSM $6.4M of Hive Digital $HIVE $6.1M of $ASML $5.9M of Micron $MU

BlackRock is seeking to acquire up to 13% of SpaceX’s upcoming IPO in a single order. The world’s largest asset manager, with $11.5 trillion AUM, is targeting $5–10 billion of the $75 billion raise from its conviction funds, not on passive index vehicles. The offering is already reported to be 10x oversubscribed and institutions are competing aggressively for the remaining shares after retail is allocated 30%. The IPO is expected to be under the ticker $SPCX on June 12. When the biggest player on the planet moves this decisively, it’s worth paying attention.

Jensen Huang just said AI compute is pushing energy demand into uncharted territory. That turns power infrastructure into a structural story, not a cyclical one. Picking a single name like $CEG, $VST, $OKLO, $BE, $GEV, or $IREN is hard when the opportunity spans generation, grids, data centers, and AI hardware at the same time. $AIPO, the Defiance AI & Power Infrastructure ETF, wraps the whole chain into one exposure. Not financial advice.

What $10,000 invested during Powell’s tenure at the Fed turned into by today: S&P 500 (total return): ~$32,000 Nasdaq: ~$35,000 Gold: ~$35,300 Bitcoin: ~$116,000 End of an era.

🚨 Leopold Aschenbrenner's Q1 13F missed the deadline on Friday. The kid who bets on AI power & infra bottlenecks just went dark on the most-watched filing of the week. Monday could be interesting.

@zhao_dashuai The only normal dude

Now you know why Epstein didn't invite him to the island.

Interesting. Over the past three months, Bill Gates’ fund hasn’t initiated a single new position, while trimming two of its largest holdings $BRK.B and $WM. He also fully exited his $MSFT position. Is he seeing something the market isn’t?

Bill Ackman runs $13.7B across 11 stocks. His top 4 positions equals 65.98% of the entire book: $BN Brookfield: 17.62% $AMZN Amazon: 17.39% $UBER Uber: 15.71% $MSFT Microsoft: 15.26% He also owns $META and $GOOGL While most asset managers are reducing exposure to the Mag 7, Bill Ackman is doubling down and further concentrating his bets on them.

Ray Dalio's Bridgewater Associates just filed its Q1 2026 13F. Here's how the world's largest macro hedge fund repositioned its $22.4B equity book over the last 3 months: Top Buys: Amazon $AMZN: +$510M Taiwan Semiconductor $TSM: +$364M Broadcom $AVGO: +$207M Micron $MU: +$198M NVIDIA $NVDA: +$144M Top Sells: Booking Holdings $BKNG: -$8.47B iShares Core S&P 500 $IVV: -$980M Salesforce $CRM: -$418M Lam Research $LRCX: -$314M Adobe $ADBE: -$310M Bridgewater dumped $8.47B of $BKNG in a single quarter, the largest sell by an order of magnitude. Capital continues rotating into semiconductors and AI, while shedding exposure to software and travel.

SpaceX will trade under ticker $SPCX on June 12.

Leopold Aschenbrenner's Q1 13F drops today. His best performing assets so far are: $BE +202% $LITE +331% $SNDK +808% From $225M to $9.3B in AUM. Situational Awareness 13F expected to drop after hours. Stay tuned.

@jukan05 We’re living covering it.

Release Leopold Aschenbrenner’s damn 13F already!!

Dan Sundheim’s D1 Capital Partners just filed their Q1 2026 13F. The portfolio sits at roughly $10.7B with 42 positions The strategy shows a sharp lean into high-growth tech, logistics, and industrial recovery. Top Buys: • Sherwin-Williams $SHW: +$311M (New) • Amazon $AMZN: +$309M (New) • Spotify $SPOT: +$230M (New) • Knight-Swift $KNX: +$207M • Sea Ltd $SE: +$150M • MercadoLibre $MELI: +$148M • Disney $DIS: +$113M Top Sells: • AppLovin $APP: -$150M • Core & Main $CNM: -$137M • Charles Schwab $SCHW: -$43M • Danaher $DHR: -$38M • Broadcom $AVGO: -$36M • XPO: -$32M Sundheim is betting big on a consumer tech rebound and logistics infrastructure while still trimming software and some financial winners.