Leopold Aschenbrenner's Fund Takes Bearish Bet on Broadcom (AVGO)

A recent 13F filing by Situational Awareness LP, the hedge fund managed by former analyst Leopold Aschenbrenner, revealed that the fund has taken a new bearish position in shares of Broadcom Inc. (NASDAQ:AVGO). The filing for the quarter ended March 2026 shows Broadcom as the fourth-largest holding in the fund's portfolio.

Details of the New Position

According to the 13F filing submitted to the U.S. Securities and Exchange Commission (SEC), Situational Awareness LP purchased put options on Broadcom shares, indicating an expectation of a decline in the stock price. The filing did not disclose the size of the position or the target price.

Who is Leopold Aschenbrenner?

Aschenbrenner was a researcher focused on AI safety at OpenAI before being fired. He subsequently founded Situational Awareness LP, which has amassed $13.7 billion in assets, making it one of the most notable emerging hedge funds on Wall Street.

Broader Context

This bearish bet comes at a time when Broadcom, like other semiconductor companies, faces headwinds from slowing demand in certain end markets and rising R&D costs. However, many analysts remain optimistic about the company's long-term prospects, particularly as it expands into AI and cloud computing.

What This Means for Investors

While a move by a fund of Situational Awareness LP's size is noteworthy, it does not necessarily constitute a sell recommendation. Investors should evaluate Broadcom's fundamentals and financial performance before making any investment decisions.