Tiger Global, Appaloosa Cut Apple Stakes
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Tiger Global Management LLC, Appaloosa Management LP and Tudor Investment Corp. are among the hedge funds that sold large stakes in Apple Inc. during the first quarter as the iPhone maker’s stock slumped.
Tiger Global, the hedge fund founded by Chase Coleman, cut its stake by 790,000 shares, or $443.7 million including market losses, in the March period, according to a regulatory filing yesterday. Appaloosa, run by billionaire David Tepper, sold 372,661 shares. Tudor Investment, the $13 billion hedge-fund firm run by Paul Tudor Jones, sold its entire stake valued at $205.5 million, a filing showed.