Citadel has cut more than 80% of the risk it inherited from Situational Awareness's stock portfolio, according to a letter sent to investors and seen by Reuters. Ken Griffin's firm bought the book last month after heavy tech losses forced Leopold Aschenbrenner's fund to unwind most of its equities holdings, and has since run nearly 100 block trades worth over $4 billion to pare down the exposure.
Ken Griffin's Citadel has shed more than 80% of the aggregate risk tied to the original portfolio of Leopold Aschenbrenner's Situational Awareness, which it recently purchased, according to a letter sent to investors and seen by Reuters on Friday.
Situational sold the bulk of its stock holdings to Citadel last month. Heavy losses in its tech portfolio forced the hedge fund to unwind most of its public equities holdings.
Citadel has since completed nearly 100 block trades totaling more than $4 billion in market value as it trimmed the risk from the portfolio. The company declined to comment.
Source: Investing.com
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