Apple Inc. (NASDAQ:AAPL) has been on quite a run in the last three months, culminating with a big Q2 earnings beat. However, recent Securities and Exchange Commission filings show that a number of big funds were dumping shares of AAPL stock throughout Q2.
According to the newest round of 13F filings, a number of high-profile fund managers were selling Apple stock in Q2:
- Leon Cooperman’s Omega Advisors sold its entire $24 million position in AAPL stock.
- George Soros’ Soros Fund Management sold its entire $330,000 position in Apple stock.
- Jim Chanos’ Kynikos sold roughly 27% of his $5.9 million stake in AAPL stock.
- David Einhorn’s Greenlight Capital sold roughly 16% of its Apple stock, but it still holds a $741.2 million position.
Together, these four funds are some of the largest and most successful on Wall Street. AAPL investors never like to see traders selling shares. It’s particularly concerning when the sellers are Wall Street “whales” like the traders mentioned above.
Why Are Fund Managers Down on AAPL Stock?
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