John Paulson Sells Entire Stakes in Citigroup, Bank of America

Billionaire John Paulson sold his entire stakes in Bank of America Corp. and Citigroup Inc. in the fourth quarter before the bank’s shares rallied.

Paulson & Co. sold 25.1 million shares of Citigroup valued at $643 million as of Dec. 31, according to a filing today with the U.S. Securities and Exchange Commission. The hedge fund sold about 64.3 million shares of Bank of America worth $394 million.