原文：
Serenity 白毛女-中文翻译（公开）
Serenity 白毛女-中文翻译（公开）
原文：
Just taking a look at Leopold's Situational Awareness Q2 13F latest holdings as of June 30th:
1. $SNDK - $5.674B
2. $MU - $5.574B
3. $BE - $1.899B
4. $TSM - $1.265B
5. $NBIS - $1.232B
6. $CRWV - $744.5M
7. $CORZ - $665.6M
8. $STM - $584.3M (new)
9. $APLD - $469.0M
10. $RIOT - $468.2M
11. $SHAZ - $456.8M
12. $IREN - $433.3M
Less material positions includeed $CLSK, $KEEL, sei-network:native, $WYFI, $BTDR, $TE, $HIVE, $VSH, and others.
Seems like Situational Awareness concentrated around memory (Sandisk, Micron), that have low forward multiples but high visibility into 2030.
As well as Anthropic/energy/power adjacent from colo/neoclouds + Bloom.
Some of the bottlenecks like the MLCC trade, he couldn't see play out (Taiyo Yuden, etc). due to July's liqudation. And some are new like $STM (eg. MCU price hikes).
With core winners of everything such as $TSM (but less high-beta).
This looked similar to my H2 2026/early 2027 portfolio with Nebius, Micron, TSM, colo players and others as core focus. (I've heavily concentrated on upstream networking/legacy memory currently, with a lot of name overlap).
But always cool to see what others are doing.
翻译：
刚查看Leopold的Situational Awareness Q2 13F截至6月30日的最新持仓：
1. $SNDK - $5.674B
2. $MU - $5.574B
3. $BE - $1.899B
4. $TSM - $1.265B
5. $NBIS - $1.232B
6. $CRWV - $744.5M
7. $CORZ - $665.6M
8. $STM - $584.3M（新）
9. $APLD - $469.0M
10. $RIOT - $468.2M
11. $SHAZ - $456.8M
12. $IREN - $433.3M
较小仓位包括 $CLSK、$KEEL、sei-network:native、$WYFI、$BTDR、$TE、$HIVE、$VSH 等。
看起来Situational Awareness集中在内存（Sandisk、Micron），这些股票前瞻倍数低，但对2030年的可见性高。
同时也涉及Anthropic/能源/电力相关的colo/neoclouds + Bloom。
一些瓶颈如MLCC交易，他看不到实现（如Taiyo Yuden等），因为7月的清算。还有一些是新加入的，如$STM（例如MCU涨价）。
核心赢家包括$TSM（但beta较低）。
这与我在H2 2026/early 2027的组合相似，持有Nebius、Micron、TSM、colo玩家等作为核心关注。（我目前高度集中在上游网络/传统内存，且名称重叠很多）。
但看到别人的布局总是很酷。
Just taking a look at Leopold's Situational Awareness Q2 13F latest holdings as of June 30th:
1. $SNDK - $5.674B
2. $MU - $5.574B
3. $BE - $1.899B
4. $TSM - $1.265B
5. $NBIS - $1.232B
6. $CRWV - $744.5M
7. $CORZ - $665.6M
8. $STM - $584.3M (new)
9. $APLD - $469.0M
10. $RIOT - $468.2M
11. $SHAZ - $456.8M
12. $IREN - $433.3M
Less material positions includeed $CLSK, $KEEL, sei-network:native, $WYFI, $BTDR, $TE, $HIVE, $VSH, and others.
Seems like Situational Awareness concentrated around memory (Sandisk, Micron), that have low forward multiples but high visibility into 2030.
As well as Anthropic/energy/power adjacent from colo/neoclouds + Bloom.
Some of the bottlenecks like the MLCC trade, he couldn't see play out (Taiyo Yuden, etc). due to July's liqudation. And some are new like $STM (eg. MCU price hikes).
With core winners of everything such as $TSM (but less high-beta).
This looked similar to my H2 2026/early 2027 portfolio with Nebius, Micron, TSM, colo players and others as core focus. (I've heavily concentrated on upstream networking/legacy memory currently, with a lot of name overlap).
But always cool to see what others are doing.
翻译：
刚查看Leopold的Situational Awareness Q2 13F截至6月30日的最新持仓：
1. $SNDK - $5.674B
2. $MU - $5.574B
3. $BE - $1.899B
4. $TSM - $1.265B
5. $NBIS - $1.232B
6. $CRWV - $744.5M
7. $CORZ - $665.6M
8. $STM - $584.3M（新）
9. $APLD - $469.0M
10. $RIOT - $468.2M
11. $SHAZ - $456.8M
12. $IREN - $433.3M
较小仓位包括 $CLSK、$KEEL、sei-network:native、$WYFI、$BTDR、$TE、$HIVE、$VSH 等。
看起来Situational Awareness集中在内存（Sandisk、Micron），这些股票前瞻倍数低，但对2030年的可见性高。
同时也涉及Anthropic/能源/电力相关的colo/neoclouds + Bloom。
一些瓶颈如MLCC交易，他看不到实现（如Taiyo Yuden等），因为7月的清算。还有一些是新加入的，如$STM（例如MCU涨价）。
核心赢家包括$TSM（但beta较低）。
这与我在H2 2026/early 2027的组合相似，持有Nebius、Micron、TSM、colo玩家等作为核心关注。（我目前高度集中在上游网络/传统内存，且名称重叠很多）。
但看到别人的布局总是很酷。
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