John Paulson Banks

John Paulson Banks

John Paulson Cuts Stakes in Citigroup and Bank of America

John Paulson is cutting back stakes in CitiGroup and Bank of America, according to his quarterly release.  The hedge fund giant is also purchasing bonds of Alcoa, as well as shares of BlackRock, Seagate and J. Crew.
The $5 Billion Man, hedge fund manager John Paulson, reported buying bonds of Alcoa, and shares of BlackRock, Seagate and J. Crew in his latest quarterly snap shot of his investment holdings.

He pared his stakes in Citigroup and Bank of America, both among Paulson & Co.’s biggest stock holdings by market value, according to his reported investments as of Dec. 31. At the end of the third quarter, Paulson reporting owning 424 million shares of Citi. Today, Paulson disclosed owning nearly 414 million shares.

As of the end of September, Paulson owned 138 million BofA shares, and now he’s reporting about 124 million. (He also holds warrants on Bank of America.) Our Dow Jones Newswires colleagues are reporting Paulson also trimmed back his holdings in Wells Fargo. Source

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