Here’s What Tiger Global Management, a Hedge Fund Pioneer, Has Been Buying: FleetCor Technologies, Inc. (FLT), Frontier Communications Corp (FTR), Google Inc (GOOG)

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Tiger Global Management reduced its stake in lots of companies, including Frontier Communications Corp (NASDAQ:FTR). Frontier offers a tantalizing 9.8% dividend yield, butit’s experiencing shrinking cash flow, steep interest expenses, and revenue drops in its data and Internet services. My colleague Rick Munarriz reminds us that steep yields bear close watching. Indeed, Frontier Communications Corp (NASDAQ:FTR) is paying out more than it’s making.

Finally, Tiger Global’s biggest closed positions included Google Inc (NASDAQ:GOOG) and calls on Apple Inc. (NASDAQ:AAPL). Other closed positions of interest include wastewater treatment and disposal specialist Heckmann Corporation (NYSE:HEK), which is making money serving the controversial fracking industry and is present in just about every shale field. The company has been unprofitable, but it has beenturning that around and made a promising purchase of Power Fuels last year.

We should never blindly copy any investor’s moves, no matter how talented the investor. But it can be useful to keep an eye on what smart folks are doing, and 13F forms can be great places to find intriguing candidates for our portfolios.

The article Here’s What Tiger Global, a Hedge Fund Pioneer, Has Been Buying originally appeared on Fool.com and is written by Selena Maranjian.

Longtime Fool contributor Selena Maranjian, whom you can follow on Twitter,owns shares of Apple and Google. The Motley Fool recommends 3D Systems, Apple, Facebook, and Google; owns shares of 3D Systems, Apple, Facebook, Google, and Heckmann; and has options on 3D Systems and Heckmann.

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