Citadel Advisors · Ken Griffin
Latest 13F holdings with ERM3 risk decomposition — how much of the portfolio's return is market beta versus genuine stock-picking, and where the residual risk concentrates.
- Reported AUM
- $597.5B
- Holdings
- 3664
- Top-10 weight
- 34%
- As of
- 2026-06-30
- Filed
- 2026-08-14
Return attribution — beta or stock-picking?
Sum of monthly ERM3 attribution over the trailing 12 months (2025-07-31 → 2026-06-30), modeled subset of holdings. Stock selection (residual return) detracted about 2% of the gross return over this window — the factor legs carried the book.
Gross
+23.0%
Market
+25.4%
Sector
+2.2%
Subsector
-2.3%
Stock selection
-0.6%
Top holdings
3664 reported positions; top 15 shown. “Stock-specific” is the share of each position's variance not explained by market, sector, or subsector factors.
| # | Holding | Weight | Value | Stock-specific |
|---|---|---|---|---|
| 1 | MUMicron Technology, Inc. | 6.6% | $39.3B | 41% |
| 2 | TSLATesla, Inc. | 4.0% | $23.8B | 47% |
| 3 | NVDANVIDIA Corporation | 4.0% | $23.7B | 47% |
| 4 | SNDKSandisk Corporation | 3.7% | $22.2B | 66% |
| 5 | AMDAdvanced Micro Devices, Inc. | 3.2% | $19.3B | 46% |
| 6 | MSFTMicrosoft Corporation | 2.9% | $17.4B | 63% |
| 7 | AAPLApple Inc. | 2.9% | $17.4B | 86% |
| 8 | METAMeta Platforms Inc Class A | 2.4% | $14.4B | 57% |
| 9 | GOOGLmodeled on GOOGAlphabet Inc. | 2.1% | $12.8B | 60% |
| 10 | AMZNAmazon.com, Inc. | 2.1% | $12.2B | 46% |
| 11 | INTCIntel Corporation | 1.4% | $8.3B | 58% |
| 12 | GOOGAlphabet Inc. Class C | 1.3% | $8.1B | 60% |
| 13 | AVGOBroadcom Inc. | 1.3% | $7.8B | 50% |
| 14 | GSGoldman Sachs Group, Inc. | 1.1% | $6.4B | 38% |
| 15 | LLYEli Lilly and Company | 1.0% | $6.2B | 50% |
97% of reported AUM is in the ERM3 model universe; attribution and risk shares cover that subset. Source: SEC Form 13F-HR, filed 2026-08-14.
How concentrated is this book?
Quarter-end concentration across 67 filings from 2009-12-31 to 2026-06-30, with the latest filing set against this manager's own median.
- Effective N
- 65.0
- median 63.4
- Top 5 weight
- —
- no median
- Top 10 weight
- 33.9%
- median 30.5%
- Weight HHI
- —
- no median
Effective N is inverse-Herfindahl breadth, not a holding count: it falls well below the number of positions when one name dominates, which is the case worth seeing. This book held 3,664 positions at 2026-06-30.
Interrogate this portfolio
Ask the AI risk analyst what changed last quarter, where the concentration risk sits, or how your portfolio overlaps with Ken Griffin's.