Hedge fund Coatue Management ditched its holding in Apple during the first three months of the year, while fellow Tiger cub Viking Global built a sizeable new position in the tech giant, according to a report by Reuters.
The report cites regulatory filings as revealing that Coatue, founded by Philippe Laffont, held 2.4 million shares of Apple in December, worth $470.6m but had sold off that stake entirely by the end of March.
A 13-F filing by Viking meanwhile, shows that firm opened a new stake worth $663.8m in Apple doing the quarter, as well as as similar position in Microsoft.
The iPhone maker’s shares plunged almost 11% in the first quarter as the company faced fiercer competition in China and falling revenues, although the share price has recovered so far in Q2 and is now down 1.5% year to date.
