Billionaire David Tepper’s Top 5 Stock Picks

3. Facebook, Inc. (NASDAQ:FB) 

Number of Hedge Fund Holders: 266   

Facebook, Inc. (NASDAQ:FB) is a California-based technology company that owns and runs several social platforms. It is ranked third on our list of top 10 stock picks of billionaire David Tepper. Latest data shows that Appaloosa Management LP owned 1.2 million shares in the company at the end of the second quarter of 2021 worth $418 million, representing 8.67% of the portfolio. 

On September 30, investment advisory Oppenheimer maintained an Outperform rating on Facebook, Inc. (NASDAQ:FB) stock with a price target of $405, underlining that the firm remained a staple for performance marketing campaigns. 

At the end of the second quarter of 2021, 266 hedge funds in the database of Insider Monkey held stakes worth $42 billion in Facebook, Inc. (NASDAQ:FB), up from 257 in the preceding quarter worth $40 billion. 

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Facebook, Inc. (NASDAQ:FB) was one of them. Here is what the fund said:

“We continued to keep our learnings from 2020 in mind during the quarter as we sought to increase the up capture of the portfolio. We also made adjustments to the portfolio’s top 10 holdings to increase the participation of select stocks, including Facebook, while trimming our weighting to stable names, which now represent 47% of the portfolio. Our repositioning has been encouraging so far with the portfolio performing better on up days in the market while maintaining good down capture during more turbulent sessions.”