Hedge Funds Go On Citigroup (NYSE: C) Buying Spree In Q4

The buying spree by the hedge fund arena was further evidenced by the fact 10 shares of Citigroup were bought by a fund for every one sold during the final three months of 2009.   All told, the hedge fund industry had a net addition of Citigroup shares of roughly 1.2 billion.

John Paulson’s Paulson & Co. reported a stake of 506.7 million Citi shares, according to a regulatory filing.  That’s up from roughly 300 million reported at the end of the third quarter.

Eric Mindich’s Eton Park Capital Management LP picked up 138 million shares, which made Citigroup its largest single holding.  The Soros Fund Management LLC reported a stake of 94.7 million shares.

 Since the credit crisis shares of big banks like Bank of America (NYSE: BAC) and JP Morgan (NYSE: JPM) have more than doubled; a move Citigroup is yet to make.