Kenneth Griffin of Citadel LLC is an American billionaire as well as a hedge fund manager with more than $35 billion in different managed funds. The creative genius and business enthusiast, Griffin completed his studies from Harvard College and also started making investments in stocks. At that time, he started locating inefficiencies present in the market of convertible bonds. For keeping the record of the data and quotes of real-time stock, Griffin made efforts to convince administrators for installing the satellite dish on the college building’s roof. The first investment fund was launched by Griffin soon after his 19th birthday by using an investment of $265,000. This post is based on the Top 5 Stock Picks In Portfolio Of Billionaire Ken Griffin.
“The billionaire is in the news for his hedge fund’s role in the GameStop saga that is rattling the U.S. markets for over two weeks now. Citadel recently injected close to $2 billion in the embattled hedge fund Melvin Capital after it sustained heavy losses amid the GameStop short squeeze. Citadel’s link to trading app Robinhood is also being questioned and scrutinized widely. Citadel is one of the biggest revenue sources of Robinhood, as the trading app allegedly shares important data with the hedge fund in exchange for money.”
Topping the list is Bank of America that is present in the list of top 10 stocks in the portfolio of Ken Griffin. The stake has been increased by Citadel in this bank in Q3 by around 25%. Currently, 15.48 million of the company’s share have been owned by this fund. The overall worth of these shares is $327.99 million. On February 3, this is stated by the Bank of America that it is planning to make an investment of $15 billion in the scheme of affordable housing over the time period of next 5 years, tripling its level of commitment towards the market of affordable housing. In this new plan, the company tries to approach around 60,000 new customers buying homes.
The next top pick of Griffin is Micron Technology Inc. Around 8 million shares of this company are held by this fund manager. The company is operating as a semiconductor firm. The overall value of the shares of this company held by Citadel is $373.75 million. The shares of Micron have gone up after the statement by Samsung that there is the possibility of a positive recovery of the particular DRAM market. For reading more information on these stock picks, please check out Billionaire Ken Griffin’s Top 10 Stock Holdings.
