In new filings with the U.S. Securities and Exchange Commission, Citadel Investment Group, the hedge led by Ken Griffin, disclosed boosting its passive stakes in CommVault Systems Inc. (NASDAQ:CVLT) and Rowan Companies PLC (NYSE:RDC).
Citadel reported ownership of 2.73 million shares of CommVault Systems Inc. (NASDAQ:CVLT), representing an increase from 1,196 shares the fund reported in its latest 13F. The stake is equal to 6.1% of the company’s common stock. In a separate filing, Citadel revealed upping its stake in Rowan Companies PLC (NYSE:RDC) to 6.44 million Class A ordinary shares from 2.87 million shares the fund held previously. The stake is passive is equates to 5.2% of the class.
Citadel Investment Group was founded by Ken Griffin in 1990, with assets under management of just $4.2 million. The fund now manages tens of billions of dollars, with nearly 1,000 employees and offices in 10 cities around the world. Griffin is a self-made billionaire and his fund is one of the largest funds in the world. In 2008, Griffin was one of the first 14 hedge fund managers to be deservedly inducted into the Institutional Investor’s Alpha Hedge Fund Hall of Fame. Citadel’s main funds are called Kensington and Wellington, which returned almost 25% in 2012 and 19.4% in 2013.
In 2014, Citadel continued its strong performance, returning around 15% through the end of September. As of the end of the third quarter of 2014, the fund’s equity portfolio totaled $79.8 billion. During the quarter, the fund had strong focus on Technology, Services, Financials, and Basic Materials stocks. Recently, Citadel disclosed upping its stake in Newfield Exploration Co. (NYSE:NFX) to 8.57 million shares, which represents 6.2% of the company’s common shares. The fund also seems to be big fan of Louisiana-Pacific Corporation (NYSE:LPX), in which it reported ownership of 7.27 million shares of the company, a massive increase from just over 600,000 shares the fund reported in its latest 13F.
Last month, Citadel reported raising its passive stakes in Ryland Group Inc (NYSE:RYL) and Astoria Financial Corp (NYSE:AF). The fund upped its exposure in Ryland Group Inc (NYSE:RYL) to around 2.37 million shares, from 1.79 million shares. In Astoria Financial Corp (NYSE:AF), the investor increased its position to 5.04 million shares from some 2.15 million shares. Following the changes, the investor owns 5.1% of Ryland Group and 5.0% of Astoria Financial.