Skip to content
Subscriber Only

Paulson’s Hedge Fund Reduces Bank of America Shares by Half

John Paulson, the billionaire whose biggest hedge fund has lost 31 percent this year, cut his stake in Bank of America Corp. stock by half and trimmed his Citigroup Inc. position last quarter as financial shares slumped.

Paulson & Co. sold 7.8 million shares of New York-based Citigroup, leaving the fund with 33.5 million shares as of June 30, according to a filing today with the U.S. Securities and Exchange Commission. The fund sold 63.2 million shares of Charlotte, North Carolina-based Bank of America, leaving it with 60.4 million, according to the filing.