Paulson Pick-Up Of Citigroup (C) Shares Is Nothing New
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Friday's disclosure that hedge fund guru John Paulson picked up a stake in Citigroup (NYSE: C) is making headlines today, but those in the know will remember that this was reported back in August.
Late Friday, John Paulson's Paulson & Co. hedge fund released its 13F for the quarter ended September 30, 2009. The filing showed that Paulson now owns 300,000,000 million shares of Citigroup or 1.3%. This is below the 2% stake the Post was reporting he owned in August. Of course this was before the exchange offer which pushed the common shares outstanding to 22,880,304,796, of which the U.S. government owns 7,692,307,692, or 33.6%.
Other notable moves in banks stock from Paulson included:
- Lowers stake in JPMorgan Chase (NYSE: JPM) to 7,000,000 shares from 2,000,000 shares
- Lowers stake in BanK of America (NYSE: BAC) to 159,794,229 shares from 167,990,464 shares.
- Liquidates 2,000,000 share Goldman Sachs (NYSE: GS) position
- Liquidates 700,000 share State Street (NYSE: STT) position
- Raised First Horizon National Corp. (NYSE: FHN) stake to 7,111,307 shares from 3,000,000 shares
- Maintains 17,000,000 share stake in Capital One Financial (NYSE: COF)
- Maintains 5,000,000 share stake in Fifth Third Bankcorp (Nasdaq: FITB)
- Maintains 12,000,000 share stake in Marshall & Ilsley Corporation (NYSE: MI)
- Maintains 2,750,000 share stake in People's United Financial (Nasdaq: PBCT)
- Maintains 35,000,000 share stake in Regions Financial (NYSE: RF)
- Maintains 2,000,000 share stake in ETF Ultrashort Financial (NYSE: SKF)
- Maintains 1,500,000 share stake in SunTrust Banks, Inc. (NYSE: STI)
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Most Ignorant Headline of the Month
Bob Rinaldi on Nov 16, 2009 11:13 AMnuff said