Some Folks Have Been (Gasp!) Selling Apple Stock, Here’s Who
And it turns out that some big value managers have lightened up on the stock, according to the SEC’s 13F filings and the site dataroma.
Among them: Appaloosa Management’s David Tepper reduced his position by 24.62% last quarter, to 11.58% of his $2.6 billion portfolio. Sam Peters at Legg Mason Value Trust sold 16.67% -- to 5.25% of that $2.2 billion.
Greenlight’s David Einhorn, who has said Apple could be a $1 trillion stock (see YCharts) and who owns more than 1.4 million shares, reduced his number of shares ever so slightly, by less than 1%. To be sure, it's still 14.34% of his $5.9 billion portfolio.
So what could look better than Apple these days? In the last quarter, Tepper added to positions in companies that include Citigroup (C), United Continental (UAL), U.S. Airways (LCC) and Google (GOOG).
And Einhorn loaded up on Seagate (STX):
But lighten up at your own risk. Apple has a tendency to cause sellers’ remorse.