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(Bloomberg) — Citadel LLC reported a 5.2 percent stake in D.E. Shaw & Co.’s James River Group Holdings Ltd., the insurer that had an initial public offering last week.

Citadel, the hedge-fund firm led by Ken Griffin, owned 1.47 million shares of the specialty insurer as of Dec. 12, according to a regulatory filing today. The holding is valued at about $31 million based on yesterday’s closing price in New York.

James River adds to Chicago-based Citadel’s portfolio of stock in insurers with hedge-fund ties. The investment manager last year disclosed a stake in Daniel Loeb’s Third Point Reinsurance Ltd. after the company went public and is also an investor in David Einhorn’s Greenlight Capital Re Ltd., according to data compiled by Bloomberg.

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