(In paragraph 3, corrects the number of shares sold by Tiger
Global)
May 15 (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)
