Aug 21 (Reuters) – Billionaire investor Ken Griffin’s Citadel has shed more than 80% of the aggregate risk from the original portfolio of Leopold Aschenbrenner’s Situational Awareness, which it recently purchased, according to a letter sent to investors that was seen by Reuters on Friday.
Situational sold the bulk of its stock holdings to Citadel last month after heavy losses in its tech portfolio forced the hedge fund to unwind most of its public equities portfolio.
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.
(Reporting by Arasu Kannagi Basil in Bengaluru and Anirban Sen in New York; Editing by Shilpi Majumdar)
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