Hedge funds buy GM in fourth-quarter; Soros takes stakes in JP Morgan, Citi

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A man is silhouetted against a video screen with an Facebook logo as he poses with an Dell laptop in this photo illustration taken in the central Bosnian town of ZenicaBy Svea Herbst-Bayliss and Jennifer Ablan (Reuters) – Top U.S. hedge fund managers in the fourth quarter focused on the consumer sector, with investment plays ranging from high-end auction house Sotheby's to big retailers Target Corp and Walgreen Co General Motors also became the flavor of the quarter with many hedge funds as the U.S. government exited its position. Soros Fund Management LLC, founded by billionaire investor George Soros, purchased new stakes in banking giants J.P. Morgan Chase & Co. and Citigroup in the fourth quarter. Soros also boosted holdings in GM.

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