REVEALED: The hedge funds who bought Snap
The stocks that the biggest hedge funds bought and sold during the first quarter are being revealed in 13-F regulatory filings.
That means we’re finding out which funds bought into Snap Inc. (SNAP), which went public back in early March.
Third Point’s Daniel Loeb snapped up 2,250,000 shares, while David Tepper’s Appaloosa Management bought 100,000 shares.
Other funds that bought shares in the first quarter include Oz Management, Laurion Capital Managment, Element Capital Management, Lansdowne Partners, Oxford Asset Management, LMR Partners, Essex Investment, Management, and Rainier Investment Management, according to the filings and data compiled by Bloomberg.
Snap Inc., the owner of the popular messaging and photo sharing app, has seen its shares drop 21% since its IPO.
Hedge funds only have to disclose their long equity holdings in these filings. The filings also come out 45 days after the end of each quarter, so it’s possible that they could have altered their position in that time.
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Julia La Roche is a finance reporter at Yahoo Finance. Follow her on Twitter.
