Hedge fund giant Citadel on Thursday purchased a distressed portion of AI protege hedge fund Situational Awareness. The move sent a bullish shock through the U.S. stock market and was broadly credited with triggering Friday's positive market action. Situational Awareness, run by former OpenAI employee Leopold Aschenbrenner, had swelled to more than $20 billion in ***** ets in the two years since its founding.
That ramp up required heavy leverage, funded by banks. And as artificial intelligence-related stocks came under recent pressure, Situational Awareness could not keep up with margin calls forcing it to raise cash. Reuters reported that the California-based fund lost 67% of its value in July, after selling $16 billion of its public portfolio.
Citadel founder and fund manager Ken Griffin has made a long-term strategy of digging diamonds out of ash. Citadel made similarly aggressive moves during Enron's bankruptcy in 2001, during the meltdown of hedge fund Sowood Capital as the Great Recession took hold in 2007, and in propping up hedge fund Melvin Capital in 2021 as meme stock investors piled in against the firm's short bet on GameStop (GME).
"During market stress, the collective judgment of our business leaders, risk managers and portfolio managers enables us to capitalize on market opportunities when others, who depend on simplistic stop-loss approaches, cannot," Griffin wrote in a 2023 letter, as reported by Reuters.

#market

The chip wipeout reached a climax this week. One of the AI boom's most prescient young investors was caught at the center of it.
Leopold Aschenbrenner's hedge fund lost 67% in July as leveraged AI bets unraveled, forcing the fund to sell most of its public holdings to Citadel and remove all leverage.
"We let you down this month," Aschenbrenner wrote to investors.
Yet the fund, Situational Awareness, remains up about 80% this year after a spectacular run before the sell-off. The thesis did not break first. The financing did.
The timing carries an eerie Wall Street echo.

#fund #citadel #awareness

Hedge fund giant Citadel on Thursday purchased a distressed portion of AI protege hedge fund Situational Awareness. The move sent a bullish shock through the U.S. stock market and was broadly credited with triggering Friday's positive market action. Situational Awareness, run by former OpenAI employee Leopold Aschenbrenner, had swelled to more than $20 billion in **** ets in the two years since its founding.
That ramp up required heavy leverage, funded by banks. And as artificial intelligence-related stocks came under recent pressure, Situational Awareness could not keep up with margin calls forcing it to raise cash. Reuters reported that the California-based fund lost 67% of its value in July, after selling $16 billion of its public portfolio.
Citadel founder and fund manager Ken Griffin has made a long-term strategy of digging diamonds out of ash. Citadel made similarly aggressive moves during Enron's bankruptcy in 2001, during the meltdown of hedge fund Sowood Capital as the Great Recession took hold in 2007, and in propping up hedge fund Melvin Capital in 2021 as meme stock investors piled in against the firm's short bet on GameStop (GME).
"During market stress, the collective judgment of our business leaders, risk managers and portfolio managers enables us to capitalize on market opportunities when others, who depend on simplistic stop-loss approaches, cannot," Griffin wrote in a 2023 letter, as reported by Reuters.

#awareness

Texas A&M's 2026 schedule, per ESPN's latest FPI rankings, is the 9th-toughest in the SEC, while Arkansas (1), Oklahoma (2), and the Texas Longhorns (3) round out the top 3. Last season, the Aggies finished 11-2 with just one regular-season loss to the Longhorns at the end of the year, but earned impressive road wins over Notre Dame, LSU, and Missouri en route to the Aggies' first College Football Playoff berth.
Texas A&M will host Missouri State and Arizona State before Kentucky comes to College Station, followed by an early road trip to Baton Rouge against LSU and new head coach Lane Kiffin. For the Aggies to have any shot at making it back to the CFP, staying undefeated, or dropping just one game before taking on Alabama in Tuscaloosa on October 24 is absolutely critical.
After a record 10 players were selected in the 2026 NFL Draft, third-year coach Mike Elko returns 65% of his 2025 roster, combined with 17 players from the transfer portal and the 2026 signing class. Led by redshirt junior quarterback Marcel Reed, the Aggies will have a shot to match last season's record, but the second half of the schedule will all but determine A&M's postseason hopes.
Facing LSU, Missouri, Alabama, South Carolina, and Oklahoma on the road, coupled with hosting Texas in the annual Lone Star Showdown. We ranked each matchup from easiest to toughest for the 2026 season.
Citadel finished 4-8 last season, but the Bulldogs were competitive in all but three of their eight losses and likely won't present a challenge for Texas A&M a week after the Aggies face Missouri on the road. This should be a blowout, on paper, at least.

#missouri #last

Activist investor Sachem Head Capital Management disclosed a 6.9% beneficial ownership stake in Ionic Digital (NASDAQ: this week, giving the activist investor exposure to the bitcoin miner's shift toward AI/HPC infrastructure.
The position covers 3,169,808 Class A shares. Sachem Head funds directly hold 2,264,150 shares, while warrants account for another 905,658 shares.
Ionic Digital recently listed on the Nasdaq Exchange on July 28 under the ticker IOND, following an emergence from the Celsius Network bankruptcy. The Bitcoin miner turned data center builder received mining **** ets, $195 million in cash and 540 bitcoin in exchange for issuing 37 million shares to former Celsius creditors.
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Sachem Head acquired the securities through Ionic's $400 million private placement, announced June 26 at a $2 billion pre-money valuation. Sachem Head joined Attestor, Oaktree Capital Management, Citadel and Weiss **** et Management in the financing.

#sachem #Bitcoin #million #digital

One prominent capital market firm is praising artificial intelligence as the launchpad for a new era of American entrepreneurship.
"Automation can reduce the labor intensity of certain tasks, but in an economy with unusually high entrepreneurial velocity, it can also broaden the range of viable enterprise," the July 4 note (1) from head of macro strategy Frank Flight at Citadel Securities said, describing it as "dynamism" that offsets the risk of losing employment due to AI.
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A version of this article was originally published on TKer.co.
A few charts I saw recently had me thinking about the challenge of trading individual stocks to generate above-average returns.
The first chart came from Citadel's Scott Rubner.
It shows the correlations among S&P 500 stocks, basically the degree to which stocks move together. A high correlation suggests stocks are largely moving in tandem, whereas a low correlation means they are moving independently.
Rubner's data shows that correlations have fallen to their lowest level in at least 15 years.

Sutton Stracke's son Philip, 22, plans to join the priesthood after graduating from The Citadel, a military college in South Carolina
Sutton shared her reaction to Philip's decision, calling it a "big" six-year commitment
The reality TV star shares her children with ex-husband Christian Stracke
Sutton Stracke's son has big plans after graduation.
During her appearance on Radio Andy, the Real Housewives of Beverly Hills star, 54, shared an update on her son Philip, 22, who recently graduated from The Citadel, a military college in South Carolina. Stracke, who's also a mom to son James, 19, and daughter Porter, 24, revealed that her eldest son intends to enter a seminary and join the priesthood. The loving mom said that she "cried" when her son told her the news, noting how "big" the decision is for him to go to seminary school.

4 epic myths hiding in the May sky — and how to find them

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Spring is here and with it, a new set of sparkling constellations rises to prominence! But what are the stories behind these mesmerizing stellar citadels and how can you find them in the night sky?
Humanity's relationship with the stars stretches back for several millennia. In the modern day, we know the bright specks of their light to be incandescent orbs of glowing plasma powered by nuclear fusion, but in ancient times, the true nature of these stellar lanterns was a mystery.
Rather than allow the sea of stars to remain aloof, our ancestors chose to make them part of their world by linking them with storytelling and mythology. Countless cultures have imprinted their own cultural beliefs in the constellations, seeing mighty heroes, fantastic beasts and eclectic objects in the stars.
Read on to discover the mythology underpinning four popular spring constellations, along with tips on how to find them in the night sky. Be sure to check out our roundup of the best smartphone astronomy apps if you're new to the night sky, which can help you find everything from galaxies and nebulas to constellations and individual stars in the night sky.

https://www.yahoo.com/life...

Marc Buoniconti said his father, the late NFL Hall of Famer Nick Buoniconti, explained the secret to the success of their nonprofit and its fundraising efforts simply: “We’re just not good listeners.”
In the 40 years since Marc Buoniconti, then a college football linebacker at the Citadel, was paralyzed during a routine tackle, they have been told countless times that it was a problem that couldn’t be fixed. The Buonicontis didn’t listen.
Instead, through the fund that bears their name, they have helped raise more than $550 million for The Miami Project to Cure Paralysis, and improved the li