Renaissance Technologies, the hedge fund of influential Trump supporter Robert Mercer, bought nearly 2.5 million shares of Time Inc. in the first quarter of 2017, the New York Post first reported Tuesday night, citing a regulatory filing.

Mercer and his daughter, Rebekah Mercer, are well-known in conservative circles for their strong financial support for Trump, in addition to Sen. Ted Cruz (R-TX) and others. The Mercers are also part owners of Breitbart, the far-right news and commentary website from which Trump has hired many members of his administration.

Renaissance Technologies’ investment in Time Inc. — which publishes Time, Sports Illustrated, Fortune, Entertainment Weekly, and a host of other titles — was valued at $48.1 million on March 31, according to the filing.