Ken Griffin and his strategy: what stocks did he cut back on significantly?

Ken Griffin, founder and director of hedge fund Citadel Advisors, is known for his fascination with diversification. His portfolios contain nearly 7,000 positions and manage over $102 billion in assets. This extensive diversification allows him to minimize the risks associated with individual stocks. Still, even such seasoned investors as Griffin sometimes make decisions to make significant changes to their portfolios. In the last quarter, we saw significant adjustments to some of his key investments.

Ken Griffin, one of the most successful investors of the past three decades, boasts annual returns of nearly 20% for his flagship Wellington Fund, nearly double the performance of the S&P 500. Although his portfolios include a wide range of stocks, his recent moves to adjust his portfolio are attracting attention.

PayPal Holdings $PYPL

One stock that Griffin has trimmed significantly in the last quarter is PayPal Holdings. This payments giant, which has long been on a roll thanks to a…