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Hedge Funds Make Big on Bank of America $BAC

Bank of America (BAC) gained almsot 10% in trading on Thursday after it reported earnings “56 cents per share on revenues of $28.7 billion in the third quarter. Analysts had been expecting EPS of 20 cents on revenues of $25.95 billion,” according to MarketIntelligence. Share prices rose from $6.59 at close Wednesday to finish trading Thursday at $7.22 a share.  

FAIRHOLME (FAIRX) Bruce Berkowitz

While the boost probably won’t last since Morgan Stanley downgraded BAC today as well, here are several hedge fund managers that are enjoying the gain all the same:

1. Fairholme (Fairx) – Bruce Berkowitz: Gained $62.8 million

2. Paulson & Co – John Paulson: Gained $38.1 million

3. Edinburgh Partners – Sandy Nairn: Gained $13.9 million

4. Eton Park Capital – Eric Mindich: Gained $13.3 million

5. Legg Mason Capital Management – Bill Miller: Gained $7.9 million

6. Kingdon Capital Managemet – Mark Kingdon: Gained $7.2 million

7. Appaloosa Management Lp – David Tepper: Gained $6.3 million

8. Adage Capital Management – Phill Gross And Robert Atchinson: Gained $6.3 million

9. Glenview Capital – Larry Robbins: Gained $5.2 million

10. Sirios Capital Management – John Brennan: Gained $5.2 million

DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in BAC since the end of June. We did not take into account their option positions.

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