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.
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Get the latest Bank of America stock price here.
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