HoldCo Asset Management disclosed a new position in Comerica, acquiring 2.29 million shares worth $156.94 million, making it the largest holding in the fund’s portfolio. This new position represents 16.56% of 13F assets under management. Comerica’s stock price is up 41% over the past year, outperforming the S&P 500. The bank’s latest quarter showed stable net interest income and strong capital position. The fund’s top holdings include regional banks like Columbia Banking System and First Interstate, indicating a deliberate overweight in this sector. Comerica’s operational steadiness is likely the appeal for investors.

Read more at Nasdaq.: Comerica Becomes a $157 Million Top Holding as Shares Surge 41% Year Over Year