Billionaires Are Turning Away from These Five Stocks

#4 Citigroup Inc. (NYSE:C)

– Billionaires with long positions as of March 31: 11

– Aggregate value of billionaires’ holdings as of March 31: $1.44 Billion

The number of billionaire asset managers with equity investments in Citigroup Inc. (NYSE:C) dropped to 11 from 15 during the January-to-March period, while the dollar value of those investments fell by 32% quarter-on-quarter to $1.44 billion. The decline was partially driven by a 19% fall in the value of Citigroup shares. Like other industry peers, Citigroup’s stock and financial performance have been under pressure from a combination of low interest rates and struggling energy sector. The fourth-largest U.S. bank in terms of assets was one of the eight financial institutions required to submit a “living will”, which represents a resolution plan showing how banks would go bankrupt without destabilizing the entire financial system, and Citigroup was the only bank that had its “living will” plan authorized by regulators. Earlier this year, Citigroup announced plans to divest retail banking operations in Brazil, Argentina and Colombia, but discussions between the U.S. lender and possible bidders for the Brazilian retail banking unit could last up to three months according to fresh news. Boykin Curry’s Eagle Capital Management owned around 26.14 million shares of Citigroup Inc. (NYSE:C) in its portfolio on March 31.

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#3 McDonald’s Corporation (NYSE:MCD)

– Billionaires with long positions as of March 31: 11

– Aggregate value of billionaires’ holdings as of March 31: $1.10 Billion

McDonald’s Corporation (NYSE:MCD) lost appeal among the hedge fund managers with ten-figure fortunes during the first three months of 2016, as the number of billionaires from our system with stakes in the well-known company declined to 11 from 14 quarter-over-quarter. Similarly, the overall value of those stakes decreased by 47% sequentially to $1.10 billion even though McDonald’s shares gained 7% in the first quarter. Just recently, the world’s leading global food service retailer announced plans to move its corporate headquarters from an Illinois suburb to downtown Chicago by the spring of 2018, as part of the company’s turnaround plan to revive its business performance. McDonald’s CEO, Steven Easterbrook, follows his mission to turn the fast-food chain into a “modern, progressive burger company”, and the recently-revealed plans will enable the company to recruit young talent to continue its turnaround efforts. McDonald’s shares are up 3% year-to-date. Daniel S. Och’s OZ Management reported owning 2.18 million shares of McDonald’s Corporation (NYSE:MCD) in its latest 13F.

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