David Tepper (Trades, Portfolio), founder of New Jersey-based Appaloosa Management, the third most profitable hedge fund according to PVH Investments, disclosed the 10 stocks in which he took a position in the first quarter as well as 14 he dumped.
One of his most notable changes was his acquisition of a stake in Facebook Inc. (NASDAQ:FB), his largest new buy at a total cost around $185.8 million. Tepper purchased 1,627,950 shares of the social media company, whose price per share averaged $105 during the quarter. He had taken a larger position in the company in 2014 but later sold out in the fourth quarter. Continue Reading »