While Warren Buffett trimmed some of his financial stock holdings in the first quarter, two other top strategists — hedge fund guru John Paulson and Morningstar fund manager of the decade Bruce Berkowitz — added to several of their bank share stakes.
According to MarketWatch, Paulson upped his Bank of America holdings by almost 17 million shares in the first quarter, and opened a new position in Capital One Financial. He kept his holdings of several other big-name financials — including Citigroup and Wells Fargo — steady.
Berkowitz, meanwhile, added about 35 million shares of AIG (some common and some preferred), as well as 39 million shares of Bank of America. He did, however, cut back on some financials, including Citigroup, according to MarketWatch.