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. 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. GOOGL GOOG by 134% and 11%, respectively.
- A three-digit growth was witnessed in its holdings of Apple Inc. AAPL, Meta Platforms Inc. META, and Amazon.com Inc. AMZN during the fourth quarter by Citadel.
- Griffin’s fund slashed stakes in Tesla Inc. TSLA by 86%, Nvidia Corp. NVDA by 56% and Microsoft Corp. 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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