market folly

Tom Brown's hedge fund firm Second Curve Capital recently filed a 13G with the SEC due to portfolio activity on July 8th, 2010. Per the filing, Brown's firm discloses a 5.07% ownership stake in Western Alliance Bancorp (WAL) with 3,710,383 shares. This is an increase in Second Curve's position as they previously owned 2,340,000 shares as of March 31st, 2010. Over the past four months, Brown's hedge fund has boosted its WAL stake by over 58% (adding 1,370,383 additional shares). For more from this hedge fund we've detailed some of Second Curve's previous portfolio shuffling. And if you're interested in what other prominent investment managers are up to lately, head to our hedge fund portfolio tracking series updated daily.

Taken from Google Finance, Western Alliance Bancorp is "a bank holding company. The Company provides a range of banking and related services to locally owned businesses, professional firms, real estate developers and investors, local non-profit organizations, high net worth individuals and other consumers through its subsidiary banks and financial services companies located in Nevada, Arizona, California and Colorado".