Hedge Funds Make Big After Bank of America Rises More Than 7%

Bank of America Corp (BAC) shares soars today and up more than 7% to $6.26 at 1:49PM EST on Thursday. One reason could be that Deutsche Bank reiterates a positive view of banks. According to Barron’s, Citigroup analysts quickly give a buy recommendation on BAC today. Moreover, Barclays analyst Jason Goldberg warned this week that it’s riskier now to not own banks than to own them.

BAC closed on Wednesday at $5.81, and now is up 7.75% or $0.45. Here is a list of hedge funds that may reveal large gains in their stock position in Bank of America.

1. Fairholme (FAIRX) – Bruce Berkowitz: gains $47.26 million

2. Paulson & Co – John Paulson: gains $28.94 million

3. Platinum Asset Management – Kerr Neilson: gains $12.97 million

4. Edinburgh Partners – Sandy Nairn          : gains $7.27 million

5. Adage Capital Management – Phill Gross and Robert Atchinson: gains $5.88 million

6. D. E. Shaw – David E. Shaw: gains $3.52 million

7. Mohnish Pabrai – Mohnish Pabrai: gains $3.17 million

8. Ivory Capital (Investment Mgmt) – Curtis Macnguyen: gains $2.82 million

9. Caxton Associates – Bruce Kovner: gains $2.03 million

10. First Pacific Advisors – Robert Rodriguez and Steven Romick: gains $1.34 million

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