David Tepper’s Appaloosa Management picked up a small stake in embattled retailer JC Penney last quarter,
according to filings with the SEC.
Specifically, the fund picked up 737,800 shares of JCP — the stock is up slightly in after hours trading.
Appaloosa also added slightly to its stakes in JP Morgan and Citigroup.
Not all the financials were a buy, however. Appaloosa reduced its stake in Bank of America — going from 6,344,607 shares to 2,219,607 shares.