NEW YORK (
) -- Marsico Capital Management, a $47 billion money manager formerly owned by
Bank of America
, cut back on holdings of several big financial stocks, according to its latest quarterly filing with the
Securities and Exchange Commission
As of Septermber 30, Marsico had dumped its entire allocation to
, which had totaled nearly 7 million shares worth some $273 million at the end of June. Marsico also unloaded more than 20 million shares of
, cutting the firm's stake to about 1.8 million shares worth some $71 million at the end of September.
Perhaps Marsico's most notable move, however, came outside the sector, when the fund manager dumped more than $1 billion worth of
Class A shares.
Marsico also pared its stake in
by over a million shares, though the money manager still holds an outsized stake of nearly 15 million shares worth almost $765 million at the end of September. Marsico also cut back his allocation to
, though it was relatively tiny to begin with.
One financial stock Marsico added to significantly is
. The money manager upped its stake to more than 3.8 million shares from about 2.65 million in the previous quarter. It also established a new position in
, picking up more than 60,000 shares valued at nearly $16 million at quarter's end.
A call to Tom Marsico, founder of the Denver-based money manager, was not returned.
Written by Dan Freed in New York
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.