Hedge Funds Are Dumping Facebook and Google
- Coatue Management trimmed Netflix, Apple and Facebook
- Lone Pine adds a nearly $1 billion position in Amazon.com
Goldman's Bellini Says Facebook's Slowing User Growth Is Not Surprising
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Billionaire David Tepper’s Appaloosa Management more than tripled its stake in Apple Inc. and almost doubled its holding of Facebook Inc. in the final three months of last year.
Appaloosa reported shares in Apple worth $777 million as of Dec. 31, which represented 7.4 percent of the hedge fund firm’s U.S. stock holdings, according to a regulatory filing Wednesday. Tepper added to his stake in Facebook, his second-biggest position, by more than 2 million shares. That position was valued at $976 million at the end of the fourth quarter.