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Ken Griffin said Citadel executed more than 100 block trades worth over $4 billion to shed the positions
Ken Griffin disclosed in a Friday investor letter that Citadel has reduced its exposure from the portfolio it purchased from Leopold Aschenbrenner's Situational Awareness hedge fund by more than 80%. The firm executed more than 100 block trades representing over $4 billion in market value to unwind the positions, according to CNBC.
According to Reuters, Griffin noted in the letter that among the block trades were the year's single-session records in 10 separate names. "Our ability to distribute this risk was central to our investment thesis. These moments highlight our ability to quickly evaluate complex risks, deploy capital with speed and conviction, and execute with precision," Griffin wrote.
Griffin also credited the banks involved in the transaction. "A transaction of this magnitude could not have been completed without the extraordinary cooperation of the trading and prime brokerage teams at the banks serving both firms," he wrote.
