Alert: Hedge Fund Citadel Is Bullish On Amazon

  • General
  • May 24, 2021
  • 206
  • 5 minutes read

Citadel CEO Ken Griffin

You may have heard of Citadel during the GameStop saga as the hedge fund that stepped up to pump up a fellow hedge fund named Melvin Capital with a $2bn investment when it saw major losses from a short position on GameStop after it was pumped up by retail investors.

  • If you didn’t follow the GameStop saga, no problem. Citadel nonetheless is a major hedge fund in the US with over $35bn in assets under management. Led by investor Ken Griffin, it’s a major market mover whose investing moves many pay attention to.
  • It happens that Citadel has dropped its latest 13F filing, the quarterly report required by the US SEC to be filed by all institutional money managers with at least $100mn in assets under management. 
  • Citadel’s latest Form 13F has a major highlight which is bullishness on e-commerce giant Amazon. It shows that the Griffin-led firm purchased 197,751 shares of Amazon in Q1 2021, boosting its holdings by 2,407%. 
  • For context, Amazon shares changed hands for around $3k during Q1′ 21, and it’ll be that Citadel spent around $600mn to buy new Amazon shares, a good chunk of its $35bn+ of assets under management.
  • Citadel now holds roughly 206k Amazon shares worth $660mn at current prices. It appears that the hedge fund is very bullish on Amazon at a time when the e-commerce industry has boomed following a pandemic.
  • Citadel’s bullishness on Amazon is worth reporting on as many investors graciously follow the investing moves of major market-moving funds like it. Even with Amazon trading at a record market cap of $1.6 trillion, it appears that Citadel still has hopes for it going higher.
  • Apart from Amazon, Citadel’s other current tech holdings include AMD, FuboTV, and China’s iQIYI. It also holds a whole lot of biotech stocks.

Photo: Ken Griffin

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