Reuters: Technology News: Fidelity Contrafund's Danoff cuts Apple stake by 10 percent

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Fidelity Contrafund's Danoff cuts Apple stake by 10 percent Apr 1st 2013, 14:28 Tweet Share this Email Print Analysis & Opinion Goldman and Buffett scratch each other's backs Europe's bank-run defences have limits A security guard stands next to an Apple retail store during the release of the iPhone 5 in Shanghai December 14, 2012. Credit: Reuters/Carlos Barria BOSTON | Mon Apr 1, 2013 10:28am EDT BOSTON (Reuters) - Portfolio manager Will Danoff, whose $92 billion Fidelity Contrafund is the largest active shareholder in Apple Inc, cut the fund's stake in the maker of the iPhone by 10 percent during the first two months of 2013. The Contrafund reported holding 10.43 million shares of Apple worth $4.6 billion at the end of February, according to Fidelity's latest monthly update for the fund. The fund owned 11.56 million Apple shares at the end of December. Google Inc was the Contrafund's largest holding at the end of February, accounting for 5.8 percent of the fund's net assets. Apple dropped to No. 2, making up 5.2 percent of the fund's net assets, according to Fidelity. (Reporting By Tim McLaughlin; Editing by Gerald E. McCormick) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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