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Ken Griffin’s Citadel Investment Group Took 5% Passive Stake in $RYL

Ken Griffin’s Citadel Investment Group disclosed its 5% passive stake in Ryland Group Inc. (RYL) on December 1st. According to the filing, Citadel Investment Group now has 2.23 million shares in RYL. This is a 470% expansion in Citadel Investment Group’s position from its 391 thousand shares position at the end of the third quarter. RYL reached its 5-year low in late September and bottomed up since then. Now RYL has increased by 60% after September and is trading at $15.20. It’s possible that Ken Griffin made most purchases during October.

CITADEL INVESTMENT GROUP

Nine hedge funds were bullish about RYL according to their 13F filings in the second quarter. Robert Bishop’s Impala Asset Management took the most, with 987 thousand shares in the second quarter. David Keidan’s Buckingham Capital Management boosted its position by 32% to 690 thousand shares. Glenn J. Krevlin’s Glenhill Advisors initiated its position and held 400 thousand shares at the end of Q2.

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.

Per Yahoo! Finance, The Ryland Group, Inc. “operates as a homebuilders and a mortgage-finance company in the United States. Its operations in homebuilding process range from design, construction, and sale to mortgage origination, title insurance, escrow, and insurance services to its homebuyers. The company offers completed homes; single-family detached homes; and attached homes, such as townhomes, condominiums, and mid-rise buildings, as well as sells lands and lots. It builds homes for entry-level buyers, as well as for first and second-time move-up buyers. The company was founded in 1967 and is headquartered in Calabasas, California.”

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