Largest active AAPL shareholder, Fidelity Contrafund, cuts Apple stake by 10 percent

“Portfolio manager Will Danoff, whose $92 billion Fidelity Contrafund is the largest active shareholder in Apple Inc, cut the fund’s stake in the maker of the iPhone by 10 percent during the first two months of 2013,” Reuters reports.

“The Contrafund reported holding 10.43 million shares of Apple worth $4.6 billion at the end of February,” Reuters reports. “The fund owned 11.56 million Apple shares at the end of December.”

Read more in the full article here.


    1. The real story is when does it make more financial sense to sell Google, Amazon, … to take profits and pick up cash to pay taxes and buy other stocks (like Apple) with a big up side? They have been bleeding cash out of their AAPL shares for a half year. AAPL is about twice it’s book value and NOW less than 3 times it’s cash.


      1. Isn’t Tim Cook’s responsibility to create profits to share, and it’s the shareholders responsibility to buy/sell when appropriate for them for their profit/loss scenarios?

        1. Actually you and Jersey are both somewhat correct. Tim Cook has a responsibility to run the company effectively and profitably. It is a publicly traded company and he does have a fiduciary responsibility to make money for the shareholders. He can do that by running the company properly. Your observation about shareholders having the responsibility of buying and selling their shares of stock is the most important and intelligent comment I have seen here in a long, long time. The problem with so many here is that they didn’t sell when AAPL was so high. Buy and hold.. It is not a strategy. Now those same shareholders want to blame everyone else because they have lost money. They will blame manipulation, sunspots, a six-month bad joke, and anything they can come up with rather than to look at themselves and admit that they screwed up. It’s difficult to do. I know. I screwed up royally back in 2000. Lost my ass. But I always knew that it was my fault not someone else’s. I never blamed the stock market. I never blamed analysts. Those who blame others for their own mistakes will never change. Never improve. Never advance.

          1. >Buy and hold.. It is not a strategy.

            It’s worked extremely well for Warren Buffett. Especially if a stock gives dividends, you can be making money in the meantime regardless of the movement of the price.

            1. In case you haven’t noticed, Warren buys and sells companies. He doesn’t hold them forever. And he does have a plan. As for dividends? There are much better stocks to invest in for dividends than AAPL. And Apple has not paid a dividend for many years. It only brought back a dividend a year ago. So………….?

          2. Easy to tell someone to “Sell high; buy low.” But impossible for anyone to know when the stock has reached its high or its low. So why accuse people of not knowing the knowable?

            Realistically, AAPL should have remained high. It has continued to post remarkable profits. Yet it dived while other far more iffy stocks continued up. People have posited various reasons for it, stock manipulation being one. But no one really knows. And, if there has been behind the scenes manipulation (just as an example), normal rules of investment don’t apply.

            So, again, why stand on an iSoapbox and blame others for not acting with intelligence based on unknowable information? “Sell high; buy low.” Good luck with that.

  1. Fidelity likely has this correct, to lighten up on ones position is prudent until Tim Cook and Board can figure out how to manage the very constant negative sentiment, I am a long Apple shareholder whom is very very disappointed with the stock value lately–a bit of a pull back from 700 is understandable but to this extent, my sense is that Steve Jobs would not have sat silent during this last four month time period–wasn’t his style to be pushed around.

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