- Advertisement -
- Advertisement -

Related

Largest hedge funds increase Citi, Wells Fargo holdings in Q1

Powering Hedge Funds

(S&P Global Market Intelligence) – The world’s largest hedge funds were bullish on Wells Fargo & Co. and Citigroup Inc. in the first quarter even as both banks’ stocks lost ground.

S&P Global Market Intelligence looked at the 25 biggest global hedge funds in terms of equity assets that had at least one position in a financial stock. The analysis showed that four of these big hedge funds held a position in Wells Fargo worth a combined $1.70 billion as of March 31.

During the first quarter, Viking Global Investors LP more than doubled its position in the bank to $672.6 million, while Appaloosa Management LP initiated a $154.0 million stake. At the same time, both Gardner Russo & Gardner LLC and Ruane Cunniff & Goldfarb LP trimmed their exposure to the bank during the quarter.

At U.S. megabank Citigroup Inc., two of the top 25 hedge funds held a position worth a combined $1.38 billion. ValueAct Capital Management LP significantly increased its investment in Citi to $1.09 billion as of March 31, up from $81.9 million at the end of 2017.

Kiltearn Partners LLP also added to its Citi stake during the first quarter, but the decline in the bank’s share price knocked the market value of the firm’s total position down to $281.7 million as of March 31, from $308.7 million a quarter earlier.

Among the top 25 hedge funds, Kiltearn Partners was the most concentrated in financial stocks, with 12 of its 57 holdings allocated to the industry.

Gardner Russo and Ruane Cunniff both reported investments in Berkshire A-shares and B-shares, while Hillhouse Capital Management Ltd. reported an A-share stake and Select Equity Group LP disclosed a B-share stake.

Berkshire Hathaway Inc. was easily the largest investment among the top 25 hedge funds, which held a collective $2.42 billion stake in Berkshire A-shares and an $820.0 million investment in Berkshire B-shares as of March 31.

Carl Icahn’s Icahn Capital LP completely sold out of insurer American International Group Inc. during the first quarter. At the end of 2017, the hedge fund’s stake was worth $2.56 billion, which was the largest investment among the top 25 hedge funds at year-end 2017.

 

Picture: (c)by Peter Kirchhoff — pixelio.de.jpg

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

Latest Articles

A Photo Finish at the Top of Nordic Hedge Funds

The race for the title of best-performing Nordic hedge fund in 2025 went down to the wire, culminating in one of the closest finishes...

Nordic CTAs Rebound in December, End Year in the Red

The CTA sub-index within the Nordic Hedge Index staged a meaningful recovery in the second half of 2025, rising 4.1 percent, including a 1.1...

Cleaves Shipping Moves Home to Norway After Standout 2025

After a strong year for Cleaves Shipping Fund, which is on track to finish among the ten best-performing Nordic hedge funds of 2025, the...

The Year of Industrial Investments

By Kari Vatanen, Head of Asset Allocation and Alternatives at Elo: In 2026, the global economy will continue to grow in an environment overshadowed...

Turning Distressed Loans Into Returns

While most credit investors aim to avoid defaults, Swedish investors Gustav Hultgren and Tobias Thunander have built a career on the opposite: buying non-performing...

Borea to Gain Banking Footprint in Northwest Norway

Norwegian fund boutique Borea Asset Management is set to welcome a new owner and strategic partner in Sparebanken Møre, the largest bank in the...

Allocator Interviews

In-Depth: Diversification

- Advertisement -

Voices

Request for Proposal

- Advertisement -
HedgeNordic
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.