Funds Including Tiger Bought Facebook Stock in Third Quarter
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Funds led by Tiger Global Management LLC warmed up to Facebook Inc.’s growth prospects in the third quarter, adding to portfolios more than 15 million shares in the operator of the world’s largest social network.
Tiger Global, the $8 billion hedge fund, added 9.79 million shares to boost its stake to 11.75 million shares, according to data compiled by Bloomberg. Jennison Associates LLC increased its holding by a third, adding 3.01 million shares, and Clearbridge Advisors LLC added 2.54 million shares, an increase of more than 400 percent.