8 Hedge Fund Managers Getting Hammered By The Fall In Financial Stocks

David Tepper

Financials have been a popular hedge fund investment since distressed debt became the investment en vogue back in 2009.

And boy! Did they pay off in 2009.

But each one of these managers stayed invested in financials last quarter (according to their 13F filings)…

And if they’re are still in financials now, they’re getting hammered.

Chris Shumway

Shumway Capital:

  • Almost $93 million in Bank of America (5.2 million shares)
  • $306 million in Goldman Sachs (1.8 million shares)
  • $163 million in JPMorgan (3.6 million shares)

Phil Falcone

Harbinger:

  • $283.5 million in Citigroup (70 million shares)

Steve Mandel

Lone Pine:

  • $273 million in Bank of America (15,277,033 shares)
  • Almost $800 million in JPMorgan (17,814,985 shares)

Paulson

Paulson & Co:

  • $3 billion in Bank of America (170 million shares)
  • ~$170 million in CIT (~4.5 million shares)
  • Over $2 billion in Citigroup (506.7 million shares)
  • $600 million in JPMorgan (almost 26 million shares)

Bill Ackman

Pershing Square:

  • $91.5 million in CIT (2.35 million shares)

Dan Loeb

Third Point:

  • $91.6 million in CIT (2.35 million shares)

David Einhorn

Greenlight:

  • ~$420 million in CIT (10 million shares)

David Tepper

Appaloosa:

  • $541.6 million in Bank of America (30.3 million shares)
  • $252.7 million in Citigroup (62.4 million shares)

Now watch how their money disappeared over the last three months into each bank...

Bank of America (BAC) has dropped from $19.48 to ~$16.

Goldman (GS) has gone from $184 to ~$140

Citigroup (C) dropped from almost $5 to under $4

CIT went from $41.75 to ~$35

JPM fell from almost $48 to around $40

Ouch! Now see how they offset financials last quarter -->

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