Give it up for Vikram!

Moore Capital, the $15 billion hedge fund run by Louis Moore Bacon, bought 40.9 million Citigroup shares in the period ended Dec. 31, according to a filing yesterday with the U.S. Securities and Exchange Commission. The stake was worth about $194 million at year-end. Appaloosa, the hedge fund founded by David Tepper, more than doubled its holdings in the bank run by Chief Executive Officer Vikram Pandit.

“Banks have been a pretty profitable trading area for a lot of the hedge funds and they are doing it again with Citi,” said Michael Holland, who oversees more than $4 billion as chairman of New York-based Holland & Co. “Right now it looks like Pandit has been able to calm the seas and we may have a period where things are lined up for smooth sailing. Unless things change dramatically, it’s probably a chance for them to make some more money.”

Citi Shares Bought By Hedge Funds Moore Capital, Appaloosa [Bloomberg]

Related: Citi Makes Paulson More Than $1 Billion

127 comments (hidden to protect delicate sensibilities)
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Comments (127)

  1. Posted by Anonymous | February 15, 2011 at 6:52 PM

    I laughed when Citi hired Pandit but he has done a pretty good job to date

  2. Posted by Seaman Bodine | February 15, 2011 at 6:53 PM

    Louis helping Zach feel like he’s back at his old fund.

  3. Posted by Seaman Bodine | February 15, 2011 at 6:53 PM

    Louis helping Zach feel like he’s back at his old fund.

  4. Posted by Citibum | February 15, 2011 at 6:57 PM

    Told you bitches that the ATMs with the little guy inside helping you would put us on the map!

    -Don’t call me Michael – Vik

  5. Posted by ShittibankPR | February 15, 2011 at 8:07 PM

    Again, Citi PR never sleeps

  6. Posted by V "Bid Daddy" P | February 15, 2011 at 8:18 PM

    Fab, is that you? What are you doing in my ATM? You work for us now?

    – Vikram

  7. Posted by V "Bid Daddy" P | February 15, 2011 at 8:18 PM

    Fab, is that you? What are you doing in my ATM? You work for us now?

    – Vikram

  8. Posted by V "Bid Daddy" P | February 15, 2011 at 8:18 PM

    Fab, is that you? What are you doing in my ATM? You work for us now?

    – Vikram

  9. Posted by Guest | February 15, 2011 at 11:39 PM

    Re: The Show
    Citi share price on December 14, 2007 after Vikram Pandit was appointed CEO – 30.70.
    After $45 Billion in US bailout money, Citi’s share price is 4.91. Pandit sucks.

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