Yesterday hedge funds filed their quarterly 13-F reports with the Securities and Exchange Commission.
And if you compare new filings to old ones you get to see what financiers have picked up, and what they’ve dumped.
One big trend instantly stood out to us: Lots of folks are dumping substantial amounts (if not all) of their stock in one sector — financials.
Take a look at the run down:
- George Soros completely exited his position in Citigroup, JP Morgan, and Goldman Sachs.
- Pershing Square’s Bill Ackman significantly decreased his stake in Citigroup, reducing it from 26.1 million shares to 1.1 million shares.
- Louis Bacon, of Moore Capital, completely exited positions in Wells Fargo and JP Morgan.
- John Paulson decreased his share in JP Morgan to 4 million from 18,463,500 shares in Q1.
- While Apaloosa’s David Tepper still has a significant position in Citigroup, he completely dumped his stake in Bank of America.
Make of it what you will.