Ken Griffin says Citadel unwound more than 80% of risk tied to Situational Awareness portfolio

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1. 23d ago

   Citadel unwinds over 80% of Situational Awareness risk

   Ken Griffin announced that Citadel has reduced more than 80% of the risk associated with the portfolio it acquired from Situational Awareness. The firm executed over 100 block trades to facilitate this reduction, with the total value of these transactions exceeding $4 billion. This move signals a significant retreat from the specific bets and positions held within that acquired book.

   Why it matters

   Citadel previously absorbed a portfolio from Situational Awareness, taking on substantial market exposure. The scale of the unwind indicates a strategic shift in how the firm manages the risk tied to those specific assets.

   What is confirmed

   • Citadel has unwound more than 80% of the risk tied to the Situational Awareness portfolio.
   • Ken Griffin stated the firm reduced this risk through more than 100 block trades.
   • The block trades used to unwind the positions were worth over $4 billion.

   Still unconfirmed

   • Citadel acted as a $2 billion ghost seller for Bitcoin miners.

   What to watch next

   • Disclosure of the remaining 20% of the portfolio holdings
   • Further statements from Ken Griffin regarding the timing of the remaining unwind
   Sources used for this update (6)

   1. Reuters — Ken Griffin's Citadel sheds over 80% of Situational Awareness' bets
   2. CNBC — Ken Griffin says Citadel unwound more than 80% of risk tied to Situational Awareness portfolio
   3. Bloomberg — Citadel Sold More Than 80% of Situational Awareness Bets
   4. Yahoo Finance — Bitcoin Miners Had a $2 Billion Ghost Seller, Citadel Just Cleared It
   5. Financial Times — Citadel offloads 80% of portfolio scooped up from Situational Awareness
   6. financefeeds.com — Citadel Has Already Unwound More Than 80% of the Book It Bought From Situational Awareness
   confidence 100%