GOP Megadonor Ken Griffin's Citadel Scores 77% Return On Palantir Despite Trimming Stake, Doubles Down On These 4 'Mag 7' Stocks

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

Source: 13F.info

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.