David Tepper is the only hedge fund manager with large positions in Delta Airlines (DAL), United (UAL), and American Airlines (AMR). AMR and UAL gained around 6%, and Delta gained more than 4% after International Energy Agency said its members would release 2 Million barrels of oil a day in the first 30 days . The market is down around 1.5%.
David Tepper made nearly $12 Million today, thanks to IEA. There were other hedge fund managers who benefited from the sharp decline in oil prices:
1. Jeffrey Altman - Owl Creek Asset Management: Altman had $107 Million in AMR and $129 Million in UAL at the end of March.
2. John A. Levin - Levin Capital: Levin had $73 Million in UAL and $44 Million in DAL at the end of March.
3. Ken Heebner - Capital Growth Management: Heebner finally got a break this year. He had $156 Million in DAL and $194 Million in UAL at the end of first quarter.
4. Paul Reeder and Edward Shapiro - Par Capital Management: Par Capital had $268 Million in UAL and $44 Million in AMR.
5. Robert Bishop - Impala Asset Management: Bishop had $64 Million in UAL and $71 Million in DAL.