David Tepper has invested in Valeant and dumped Apple

According to a filing with the SEC, hedge fund billionaire David Tepper has purchased shares of Valeant Pharmaceuticals in the first quarter while also selling a large number of Apple shares.

Tepper's fund Appaloosa purchased 945,000 shares of the troubled pharmaceutical company worth $24.8 million.

Additionally, Tepper sold off his investment in Apple as the company's shares have sunk.

More to come...