The Surprisingly Popular Stock 3 Billionaire Money Managers Dumped in the Third Quarter
Quietly, one of the most anticipated deadlines of the quarter has come and gone. Last Friday, Nov. 15, marked the last day for money managers and investment firms with more than $100 million in assets under management to file Form 13 with the Securities and Exchange Commission (SEC) for the third quarter.
Form 13 is a required filing that discloses the holdings of investment firms and hedge funds as of Sept. 30 (13Fs are required to be filed with the SEC no later than 45 days after a quarter ends). Although these filings have certain flaws, such as providing a portfolio snapshot that's 45 days old, they nevertheless provide a unique under-the-hood look at what the brightest minds on Wall Street have been up to over the previous quarter. Form 13F filings might even help Wall Street and investors spot trends, industries, or stocks well before they begin heating up.
As you'd expect, a number of the market's most popular names continued to draw heavy investment in the latest quarter. For instance, billionaire money manager David Tepper at Appaloosa Management significantly upped his stakes in Facebook, Amazon.com, and Alphabet, the parent of Google and YouTube. In fact, Tepper bolstered his positions in these three names by 52%, 43%, and 106% (more specifically, "GOOG"), respectively, during the third quarter.
Source Fool.com
