David Tepper's Appaloosa Management goes for the financials, opening about a $250M position in...

|By:, SA News Editor

David Tepper's Appaloosa Management goes for the financials, opening about a $250M position in AIG, a $96M position in JPMorgan (JPM), and a $8M position in Morgan Stanley (MS). Also new in the portfolio are 10K call options on Hartford Financial (HIG). He upped his stake in Citigroup (C) by about 10% to $309M, and cut his stake in Bank of America (BAC) by nearly 30% to about $25M. The fund has about $25B AUM. (13-F)