Is It Me, Or Does Every Hedge Fund Love B of A and Citi?

I feel as though every single article I read about hedge fund managers making their 13F filings or talking their books in public contains a bullish bet on Citigroup ($C) or Bank of America ($BAC) or both!

What is it about these two scaffold-enclosed banks that brings all the boys to their respective yards?

Paulson, Soros, Falcone, Tepper, Ackman, Ainslie, Loeb – you name it, they own one or the other…or both.  And they own them in size.

Reflation, real estate market amelioration, low-risk playing of the yield curve, potential for asset sales, a return to normalized earnings – all could be explanations for the popularity of these two bank stocks amongst the hedge fund crowd.  But there must be something more, as both stocks have already come a long way off of their lows for these very well-known reasons.

I’m all ears.

Visit the NASDAQ detailed institutional holdings summary for Citi and Bank of America.