5 Blue Chip Stocks to Buy According to Billionaire Bruce Kovner’s Caxton Associates

3. Citigroup Inc. (NYSE:C)

Stake Value in Caxton Associates LP’S 13F Portfolio: $2.09 million

Percentage of Caxton Associates LP’S 13F Portfolio: 0.20%

Number of Hedge Funds: 82

Based in New York, Citigroup Inc. (NYSE:C) offers diverse banking, financial services, and wealth management. During Q2 2022, Caxton Associates LP increased its stake in the bank by 52% to roughly $2.09 million, which represented 0.20% of its 13F portfolio. As a result, Citigroup Inc. (NYSE:C) is ranked#3 in our list of 10 Blue Chip Stocks to Buy According to Billionaire Bruce Kovner’s Caxton Associates.

For Q2 2022, the company reported $19.64 billion in revenue and an adjusted EPS of $2.30, beating estimates by $1.28 billion and $0.63. Although Citigroup Inc. (NYSE:C)’s valuation could decline if the market declines further, the stock is nevertheless considered as a blue chip given its scale and earnings power.

82 hedge funds tracked by Insider Monkey reported having bullish bets on Citigroup Inc. (NYSE:C) as of the end of the second quarter of 2022, with an aggregate stake value of $7.44 billion. Berkshire Hathaway, with a position worth $2.53 billion, was one of the largest hedge fund holders of Citigroup Inc. (NYSE:C).