David Tepper Bought JC Penney, Dumped A Bunch Of Bank Of America Last Quarter

David Tepper's Appaloosa Management picked up a small stake in embattled retailer JC Penney last quarter, according to filings with the SEC.

Specifically, the fund picked up 737,800 shares of JCP - the stock is up slightly in after hours trading.

Appaloosa also added slightly to its stakes in JP Morgan and Citigroup.

Not all the financials were a buy, however. Appaloosa reduced its stake in Bank of America - going from 6,344,607 shares to 2,219,607 shares.