Moore Capital Management LLC, the $15 billion hedge fund run by Louis Moore Bacon, bought a stake in Citigroup Inc. as it increased its holdings in financial companies in the fourth quarter.
The New York-based hedge fund owned 40.9 million shares as of Dec. 31 worth $193.7 million, according to a filing today with the U.S. Securities and Exchange Commission.
Moore Capital also bought 4.2 million shares of the SPDR KBW Bank exchange-traded fund, which tracks the KBW Bank Index of 24 finance stocks, worth $108.8 million in the fourth quarter, according to the filing.
The hedge fund boosted its stakes in financial companies by 15 percent during the period ending Dec. 31. Moore sold its holdings in Materials Select Sector SPDR Trust, an ETF that tracks companies in the chemicals and construction industry.
Patrick Clifford, a Moore Capital spokesman, declined to comment.