Ken Griffin’s Citadel Investment Group Largely Raised Its Stake In Superior Energy Services $SPN

Ken Griffin’s Citadel Investment Group reported its 5.8% or 4.63 million shares passive stake in Superior Energy Services Inc (SPN) today. According to the regulatory release, Ken Griffin’s SPN position is now up by more than 3 times after he reported 1.10 million shares at the end of the third quarter. It’s possible that Ken Griffin entered in October when the stock was near its 52-week low, at below $25 per share. SPN rises 1.61% today and is trading at $27.35, down 26% so far in 2011.

Ken Griffin now has become SPN’s largest hedge fund stakeholder. During the third quarter, David Dreman’s Dreman Value Management reported 1.12 million shares in SPN, slightly more than Ken Griffin at that time. Israel Englander’s Millennium Management increased its position by 5 times to 761 thousand shares at the end of September.

Ken Griffin is the founder and CEO of Citadel Investment Group. The firm is based in Chicago, and ranks among the largest and most successful hedge funds in the world. He avoided extensive press coverage in manners similar to other hedge funds for several years. Ken Griffin has a personal net worth of $2.3 billion as of 2011, making him the 512th richest man in the world. Citadel Investment Group had a portfolio value of nearly $43 billion in the second quarter.

According to Google Finance, Superior Energy Services, Inc. “is a provider of specialized oilfield services and equipment. It provides services, tools and liftboats to maintain, enhance and extend producing wells, as well as plug and abandonment services at the end of their life cycle. It focuses on serving the drilling-related needs of oil and gas companies through its drilling products and services segment, and the production-related needs of oil and gas companies through its subsea and well enhancement, drilling products and services and marine segments. It also owns oil and gas properties in the Gulf of Mexico. It operates in four business segments: subsea and well enhancement, drilling products and services, marine services, and equity-method investments. On January 26, 2010, it acquired Hallin Marine Subsea Plc (Hallin). On August 30, 2010, it acquired certain assets used in Baker Hughes Incorporated’s (Baker Hughes) Gulf of Mexico stimulation and sand control business.”