David Tepper made a big bet on Bank of America

David Tepper’s hedge fund
Appaloosa made a big bet on Bank of America.
The firm invested $US207.2 million in the bank in the first quarter of this year. It was the biggest new bet the fund made in the period.

That info is based on a Bloomberg analysis of a regulatory filing that the firm submitted. The quarterly filing, called a 13F, lists the long stock positions of investment firms. The positions are current as of 45 days prior, so it is possible that Appaloosa has since changed its positions.

Appaloosa also:

  • Invested $US72.4 million in CBS.
  • More than doubled its stake in Micron to $US193.3 million.
  • More than doubled it stake in Southwest Airlines to $US166 million.
  • Cut its investment in Allergan by almost a third to $US701.7 million.

The five top holdings at the end of the first quarter were: Allergan, Williams Partners, Alphabet, Facebook and PNC Financial.

More from Matt Turner:

Get the latest Bank of America stock price here.

NOW WATCH: JAMIE DIMON: Trump’s economic agenda is the right agenda

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.