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6 Hedge Funds Hammered By Bank of America and Citigroup $BAC $C

It is not a good day for financial stocks. Bank of America (BAC) is down 18% and Citigroup is down 17%.  John Paulson lost nearly $400 Million in one day because of the decline in these two financial stocks. Here are the 6 hedge funds that are hammered by the huge decline in Bank of America and Citigroup:

Bank of America Corp (NYSE:BAC)

1. John Paulson – Paulson & Co: 154 Million shares in BAC, 41 Million shares in C – Total Loss: $387 Million

2. Bruce Berkowitz – Fairholme: 93 Million shares in BAC, 26 Million shares in C – Total Loss: $239 Million

3. Randall Smith -Alden Global: 4 Million shares in BAC, 24 Million shares in C – Total Loss: $102 Million

4. David Tepper – Appaloosa: 17 Million shares in BAC, 8 Million shares in C – Total Loss: $57 Million

5. Bill Ackman – Pershing Square: 15 Million shares in C – Total Loss: $60 Million

6. Eric Mindich – Eton Park: 21 Million shares in BAC – Total Loss: $30 Million

These calculations assume that these hedge funds didn’t buy or sell any shares of BAC and C since the end of March.

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