Hayman Capital's Kyle Bass on Wednesday said he remains bullish on General Motors Corp. (GM), the hedge fund's largest holding, despite the auto maker's recall issue.

"It's been a tough year for us, primarily because of GM," Mr. Bass told CNBC in an interview. However, GM is worth $28 billion in enterprise value, he said, and "their operating performance is actually pretty good."

The Department of Justice in the end will probably fine GM, he said, as much as a few billion dollars. "It doesn't matter. GM has $28 billion in cash on balance sheet.

"What matters is they put this issue behind them."

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