Financials have been a popular hedge fund investment since distressed debt became the investment en vogue back in 2009.
And boy! Did they pay off in 2009.
But each one of these managers stayed invested in financials last quarter (according to their 13F filings)…
And if they’re are still in financials now, they’re getting hammered.
- Almost $93 million in Bank of America (5.2 million shares)
- $306 million in Goldman Sachs (1.8 million shares)
- $163 million in JPMorgan (3.6 million shares)
- $273 million in Bank of America (15,277,033 shares)
- Almost $800 million in JPMorgan (17,814,985 shares)
Paulson & Co:
- $3 billion in Bank of America (170 million shares)
- ~$170 million in CIT (~4.5 million shares)
- Over $2 billion in Citigroup (506.7 million shares)
- $600 million in JPMorgan (almost 26 million shares)
- $541.6 million in Bank of America (30.3 million shares)
- $252.7 million in Citigroup (62.4 million shares)