Hedge Funds Are Betting On Citigroup Inc. (C)

C) and determine whether hedge funds skillfully traded this stock.” data-reactid=”12″>We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not always available for the general crowd. This doesn’t mean that they don’t have occasional colossal losses; they do. However, it is still a good idea to keep an eye on hedge fund activity. With this in mind, let’s examine the smart money sentiment towards Citigroup Inc. (NYSE:C) and determine whether hedge funds skillfully traded this stock.

C) shareholders have witnessed an increase in activity from the world’s largest hedge funds lately. Our calculations also showed that C ranked #23 among the 30 most popular stocks among hedge funds (click for Q2 rankings and see the video for a quick look at the top 5 stocks). Citigroup is behind JP Morgan Chase, but ahead of Bank of America and Wells Fargo in terms of hedge fund popularity. Video: Watch our video about the top 5 most popular hedge fund stocks.” data-reactid=”13″>Citigroup Inc. (NYSE:C) shareholders have witnessed an increase in activity from the world’s largest hedge funds lately. Our calculations also showed that C ranked #23 among the 30 most popular stocks among hedge funds (click for Q2 rankings and see the video for a quick look at the top 5 stocks). Citigroup is behind JP Morgan Chase, but ahead of Bank of America and Wells Fargo in terms of hedge fund popularity. Video: Watch our video about the top 5 most popular hedge fund stocks.

see the details here). We were also able to identify in advance a select group of hedge fund holdings that’ll significantly underperform the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 34% through August 17th. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to.” data-reactid=”19″>Why do we pay any attention at all to hedge fund sentiment? Our research has shown that a select group of hedge fund holdings outperformed the S&P 500 ETFs by 56 percentage points since March 2017 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that’ll significantly underperform the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 34% through August 17th. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to.

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Jeffrey Ubben of ValueAct Capital

this under-the-radar stock to identify the next tenbagger. Currently, investors are pessimistic about commercial real estate investments. So, we are checking out this contrarian play to diversify our market exposure. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. With all of this in mind we’re going to review the new hedge fund action surrounding Citigroup Inc. (NYSE:C).” data-reactid=”41″>At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, legal marijuana is one of the fastest growing industries right now, so we are checking out ideas like this under-the-radar stock to identify the next tenbagger. Currently, investors are pessimistic about commercial real estate investments. So, we are checking out this contrarian play to diversify our market exposure. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. With all of this in mind we’re going to review the new hedge fund action surrounding Citigroup Inc. (NYSE:C).

How have hedgies been trading Citigroup Inc. (NYSE:C)?

Heading into the third quarter of 2020, a total of 96 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 12% from one quarter earlier. By comparison, 83 hedge funds held shares or bullish call options in C a year ago. With hedge funds’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their holdings meaningfully (or already accumulated large positions).

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Eagle Capital Management, managed by Boykin Curry, which holds a $1.1493 billion position; 4.2% of its 13F portfolio is allocated to the stock. Other peers that hold long positions contain Ric Dillon’s Diamond Hill Capital, Richard S. Pzena’s Pzena Investment Management and Alex Snow’s Lansdowne Partners. In terms of the portfolio weights assigned to each position Tegean Capital Management allocated the biggest weight to Citigroup Inc. (NYSE:C), around 24.96% of its 13F portfolio. ValueAct Capital is also relatively very bullish on the stock, designating 15.81 percent of its 13F equity portfolio to C.” data-reactid=”60″>Of the funds tracked by Insider Monkey, Jeffrey Ubben’s ValueAct Capital has the largest position in Citigroup Inc. (NYSE:C), worth close to $1.381 billion, accounting for 15.8% of its total 13F portfolio. On ValueAct Capital’s heels is Eagle Capital Management, managed by Boykin Curry, which holds a $1.1493 billion position; 4.2% of its 13F portfolio is allocated to the stock. Other peers that hold long positions contain Ric Dillon’s Diamond Hill Capital, Richard S. Pzena’s Pzena Investment Management and Alex Snow’s Lansdowne Partners. In terms of the portfolio weights assigned to each position Tegean Capital Management allocated the biggest weight to Citigroup Inc. (NYSE:C), around 24.96% of its 13F portfolio. ValueAct Capital is also relatively very bullish on the stock, designating 15.81 percent of its 13F equity portfolio to C.