In its latest 13F filing, Citadel Investment Group, managed by Ken Griffin revealed an equity portfolio worth close to $72.51 billion, which was held as of the end of March 2013. The latest filing shows that Citadel holds a big and diversified equity portfolio, which contains a total of over 10,100 positions. Out of these, the fund increased its stakes in more than 3,000 positions and added over 1,000 new positions. In this piece, we will take a look at the top three largest holdings in terms of value, which Citadel held as of the end of the first quarter of the year.
On the first spot is Citigroup Inc (NYSE:C), a company to which Mr. Griffin has considerably solidified his exposure, currently holding around 9.92 million shares, with a reported value of $472.41 million. During the first three months of the year, Citadel has increased its holding by roughly 4.6 million shares, which represent an over 80% increase. David Tepper‘s Appaloosa Management is another fund that was bullish on Citigroup Inc (NYSE:C) during the first quarter, adding 400,000 shares to its stake and bringing it to some 10.08 million shares, worth $527.03 million. Ken Fisher‘s Fisher Asset Management, on the other hand, edged down its position by around 41,000 shares to 11.07 million shares.
The stock of Citigroup Inc (NYSE:C) has declined by 10% since the beginning of the year, in comparison with the industry decline of around 0.2% year-to-date. In addition, it sports a P/E of 11.00, which is below the industry average of 17.00. Nevertheless, according to Market Watch, Citigroup Inc (NYSE:C)’s average recommendation stands at ‘Overweight’ with the target price at around $58.00 per share, which is above the current price of the stock.
Next on the list is Google Inc (NASDAQ:GOOGL), in which Citadel has actually halved its stake to 370,750 shares, reportedly valued at $413.2 million. Google Inc (NASDAQ:GOOGL) is a company that can be found in equity portfolios of hundreds of investors, and it is pretty clear why. It is reporting solid financial results with increases in revenues and profits. Moreover, Google Inc (NASDAQ:GOOGL) is constantly acquiring new businesses, which in the end can bring more value to its stock. Earlier this year, the company introduced its new class C stock and conducted a two to one stock split.
Aside from Citadel, Alex Snow‘s Lansdowne Partners has also trimmed its holding of Google Inc (NASDAQ:GOOGL) stock. In its latest 13F Lansdowne revealed holding nearly 713,600 shares, worth $795.48 million, down by some 339,900 shares over the quarter. However, David E. Shaw’s D E Shaw has upped its position by around 280,000 shares, currently holding 642,100 shares, valued at $715.56 million.
Mr. Griffin was also bullish on Ralph Lauren Corp (NYSE:RL), in which it inched up his fund’s position by 3% to 2.49 million shares, with an aggregate value of $400.43 million. The stock of the company dropped by 15% year-to-date, and trails a P/E of 17.90, below the industry average of 27.00. Ralph Lauren Corp (NYSE:RL) reported a solid performance for the last quarter, with its revenue appreciating by an annual 14% to $1.9 billion, and Earnings Per Share jumping by over 20% on the year to $1.68. For the first quarter of its current fiscal year, Ralph Lauren Corp (NYSE:RL) is expected to report EPS of around $1.76, which is lower than the year-ago result of $1.83.
In addition, Mr. Griffin has boosted Citadel’s positions in the next two companies that made the top five list in the latest round of 13F filings. The first one is Affiliated Managers Group, Inc. (NYSE:AMG), of which Citadel owns 1.69 million shares, worth $337.97 million, the stake being increased from around 980,000 shares held at the end of last year. Israel Englander‘s Millennium Management also added around 223,200 shares to its holding, raising it to over 260,000 shares.
In Signet Jewelers Ltd. (NYSE:SIG), Citadel reported holding a $313.25 million position which amasses around 2.96 million shares, in comparison to just 31,000 shares held previously. In the meantime, Signet Jewelers Ltd. (NYSE:SIG)’s stock gained around 25%, and trades at around $93 per share, while its average target price stands at about $113. Keith Meister‘s Corvex Management has also surged its exposure to the company, reporting ownership of 5.49 million shares in its latest 13F, up by 4.63 million shares from the end of last year.
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