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

Ken Griffin, in a letter to clients, revealed that Citadel has unwound over 80% of the risk associated with its recent acquisition from the Situational Awareness hedge fund, which faced significant losses and had to liquidate its stock positions. Citadel executed more than 100 block trades totaling over $4 billion to achieve this. Griffin also noted that the firm's Wellington fund had a strong return of 5.94% in July, its best monthly performance since 2022.