UPDATE: Finerman's Fine Print: Citi

What do the biggest Wall Street whales like to eat? A big, fat government backstop in Citigroup appears to be the bait that snagged some of the biggest investors in the world. We’re talking Lampert, Soros, and Paulson – the latest 13F filings show they all added significantly to their stakes.

Q4 HOLDINGS: CITIGROUP (C)

ADDED TOTAL

GEORGE SOROS 95MLN 95MLN

JOHN PAULSON 207MLN 507MLN

EDDIE LAMPERT 12MLN 31MLN

What’s the trade?

When you look at the book value as compared to BofA and JPMorgan , Citi's stock is cheap, says Karen Finerman. If credit quality improves Citi may perform. And it’s worth noting that Citi is cheaper now that it was all last quarter. If you buy now, you’re probably getting the stock for less than these whales.

If you do the math the risk reward is starting to look attractive to me as wel, adds Tim Seymour.

I think Citi is a $4.50 stock, says counters Macquarie analyst David Trone.


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Trader disclosure: On February 18th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Kaminsky Owns (EPV); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Grasso Owns (ABK), (AAPL), (ASTM), (BAC), (BGP), (C), (COST), (CSCO), (FAZ), (PFE), (PRST), (WMT), (V); Finerman's Firm Owns (IBB); Finerman's Firm Owns (XBI); Finerman's Firm And Finerman Own (WFC) Preferred; Finerman's Firm Owns (BAC), (BAC) Leaps; Finerman Owns (BAC), (BAC) Preferred; Finerman's Firn And Finerman Own (JPM)
Finerman's Firm Is Short (IJR), (SPY), (IWM), (MDY), (USO)<; Finerman Owns (AAPL); Finerman's Firm Owns (BAC) Leaps, (BAC); Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm And Finerman Own (GGWPQ), (GOOG), (JPM), (WFC); Terranova Owns (JPM), (RIMM), (IBM), (QCOM), (GOOG), (EMC), (AAPL), (DELL), MSFT); Terranova Is Long March 2010 Crude Oil Futures; Terranova Is Long April 2010 Crude Oil Futures; Terranova Is Long December 2010 Crude Oil Futures; Terranova Is Long December 2011 Crude Oil Futures; Terranova Is Long December 2012 Crude Oil Futures; Kelly Owns (HOV) Calls; Kelly Owns (ELX) Calls; Kelly Owns (FXE) Puts

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