GOP Megadonor Ken Griffin's Citadel Scores 77% Return On Palantir Despite Trimming Stake, Doubles Down On These 4 'Mag 7' Stocks
Billionaire investor, Ken Griffin’s hedge fund, Citadel Advisors LLC slashed its stake in the S&P 500’s top-performing stock of 2024, but the position still grew 77% in value during the fourth quarter. Citadel also adjusted its investments in the ‘Magnificent 7’ companies, adding four positions and reducing three.
What Happened: Here are the key changes in Citadel’s portfolio according to the fourth quarter 13F filings.
- Citadel cut 13% of its Palantir Technologies Inc. (NASDAQ:PLTR) holdings during the fourth quarter, but the shares held increased in value by $14.509 million or 77% during the quarter.
- The fund increased its stake in Class A and Class C of Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) by 134% and 11%, respectively.
- A three-digit growth was witnessed in its holdings of Apple Inc. (NASDAQ:AAPL), Meta Platforms Inc. (NASDAQ:META), and Amazon.com Inc. (NASDAQ:AMZN) during the fourth quarter by Citadel.
- Griffin’s fund slashed stakes in Tesla Inc. (NASDAQ:TSLA) by 86%, Nvidia Corp. (NASDAQ:NVDA) by 56% and Microsoft Corp. (NASDAQ:MSFT) by 25%.
Company
Holdings (as of Sept. 30)
Holdings (as of Dec. 31)
Change (in %)
Value As Of Dec. 31
Palantir Technologies Inc.
508,086
441,755
-13%
$33.409 million
Alphabet Inc. (Class A)
585,738
1,372,475
134%
$259.809 million
Alphabet Inc. (Class C)
897,624
992,659
11%
$189.041 million
Apple Inc.
562,863
1,576,734
180%
$394.845 million
Meta Platforms Inc.
402,833
1,182,847
194%
$692.568 million
Amazon.com Inc.
467,938
3,666,567
684%
$804.408 million
Nvidia Corp.
7,122,535
3,128,677
-56%
$420.150 million
Microsoft Corp.
1,264,535
948,236
-25%
$399.681 million
Tesla Inc.
1,465,406
204,204
-86%
$82.465 million
Why It Matters: The Alex Karp-led PLTR deals with providing access to artificial intelligence targeting tools to the government and military contracts. However, the Griffin-led fund – Citadel cut its exposure to Palantir in the third quarter as well.
The fund had reduced its ownership from 5.68 million shares to 508,086 shares in the third quarter — a 91% decline —bringing the stake's value to $18,900 as of Sept. 30. However, PLTR went on to become the top performer on the S&P 500 index with 356.15% return in 2024, according to Benzinga Pro.
Similarly, the fund had increased its stake by 194% to a value of $864.96 million in Nvidia during the third quarter. This was slashed by 56% in the fourth quarter, valued at $420.150 million. This Jensen Huang-led company was the top performer among the “Magnificent 7” stocks in 2024.
2024 Stock Performance
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Posted-In: 13F Alex Karp citadel advisorsEquities Market Summary News Hedge Funds Markets
