Yes, David Tepper's Appaloosa bought Snapchat in Q1. No, it wasn't a material amount: he only bought a 100,000 share flier in the name, or under $2.3 million.
What is most notable about Tapper's Q1 holdings (aside from the SNAP non-story, of course) is that he took his total long stake to just under $6.1 billion as of March 31, up from $5.6 billion at the end of 2016, and the highest net long exposure since September 2014.
Here is a breakdown of the key position changes for Tepper as of March 31:
- Top new positions: Bank of America, General Motors, CBS, UnitedHealth, Symantec, and Nucor.
- Top exits: Citizens Financial, Qualcomm, Tempur-Sealy, Comerica and American Airlines
- Boosted stakes: Micron, Southwest, Boston Scientific, Yahoo, Centene, Western Digital, Kinder Morgan, Summit Materials, ArcelorMittal
- Cut stakes: Allergan, Teva, Pfizer, Mylan, HCA Healthcare, Allstate, McKesson, Whirlpool, Hain Celestial
And the full visual summary: bold are additions; green are new positions; Red are exits.
Source: 13F