Two Wall Street hedge fund titans are betting on Citigroup.
Seth Klarman’s Baupost Group added 5.2 million shares of the bank worth about $219 million in the second quarter, according to its 13-F filing.
Lee Cooperman’s Omega Advisors also took a stake in the bank, filings show. The firm acquired about 828,000 shares worth about $35.1 million in the period, according to its 13-F filing.
The 13F filing lists long stock positions that investment firms make. The positions are current as of 45 days prior, so it is possible that Omega and Baupost have since changed their positions.
Cooperman and Omega’s vice chairman Steve Einhorn published an epic market outlook last month, in which they explained why they aren’t worried about Brexit, inflation and other common concerns.
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