Like the prettiest girl at the ball, Citigroup is being courted by a host of hedge funds, including Paulson & Co., Fairholme Capital Management, and Soros Fund.
John Paulson retains about 500 million shares in Citi, an increase from 300 million at the end of the third quarter. His shares may signify Citi's newfound attractiveness now that's it been selling shares to repay the government bailout.
Other funds are scrambling to get in on the action, because, as one fund manager said: "it clearly doesn't take a lot to get a decent amount of shares in Citi."