Reuters: Technology News: More top hedge funds dropped Apple shares in first quarter

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More top hedge funds dropped Apple shares in first quarter May 15th 2013, 18:56 Tweet Share this Email Print Related News Feds sideline billionaire Falcone from fund business Thu, May 9 2013 Einhorn adds to Apple stake, awaits "blockbuster product" Tue, May 7 2013 Fidelity Contrafund's Danoff frets over Apple rivals Wed, May 1 2013 Apple wows market with record $17 billion bond deal Tue, Apr 30 2013 Apple's cash plan takes heat off Cook, buys him time Wed, Apr 24 2013 Analysis & Opinion The silliness of valuing hedge funds The sultans of swing The Apple logo hangs inside the glass entrance to the Apple Store on 5th Avenue in New York City, April 4, 2013. Credit: Reuters/Mike Segar Wed May 15, 2013 2:56pm EDT (Reuters) - One-time hedge fund darling Apple Inc was dropped by more famous hedge fund managers in the first quarter, including John Griffin and Chase Coleman. Shares of Apple were down $17.91, or 4 percent, in trading on the Nasdaq on Wednesday. The shares have fallen 40 percent from their all-time peak of $705.07 back in September. Griffin's Blue Ridge Capital exited a position of 530,000 shares in the first quarter, according to a filing the firm made with the Securities and Exchange Commission on Wednesday. Coleman's Tiger Global Management sold 790,000 Apple shares in the quarter, leaving it with 260,000. Also, David Tepper's Appaloosa Management trimmed its Apple stake to 540,000 shares from almost 913,000 shares at the end of the fourth quarter. The first-quarter moves followed substantial selling of Apple by leading funds in the fourth quarter as well, including Leon Cooperman's Omega Advisors and Barry Rosenstein's JANA Partners. (Reporting by Aaron Pressman; Editing by Steve Orlofsky) (This story corrects the number of shares sold by Tiger Global in paragraph 3.) 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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