After seeing this article we decided to join the conversation about the owner of a $100 Million Capital One savings account. First of all if you have $100 Million in a savings account at a not “too big to fail” bank, you are pretty confident that this bank is safe. It is also likely that you have at least some ownership interest in this bank. Several articles suggested that this $100 Million account belongs to David Tepper. David Tepper’s Appaloosa doesn’t own a single share of Capital One. However, the following hedge fund managers have millions of shares of COF:
1. Paulson & Co – John Paulson: John Paulson had $935 Million in COF at the end of first quarter. This is by far the largest position in COF among the 300+ hedge funds we track.
2. ESL Investments – Edward Lampert: Eddie Lampert had $382 Million in COF. Unfortunately Lampert lives in Connecticut.
3. Legg Mason Capital Management – Bill Miller: Miller had $194 Million in COF. We don’t he is the owner of this account.
4. Steadfast Capital Management – Robert Pitts: Steadfast Capital had $152 Million in COF. We don’t think Robert Pitts has this kind of money.
5. Maverick Capital – Lee Ainslie: Maverick had $137 Million in COF at the end of March. Unfortunately Lee Ainslie lives in Texas.
We believe this $100 Million account probably belongs to John Paulson. He lives in that neighborhood too.