D.E. Shaw Be Selling (Apple)

It’s always worth knowing when a smart investor cuts its position in a high-profile stock. The $29-billion D.E. Shaw fund has cut its Apple holdings by about one-third:

D.E. Shaw & Co., a New York-based hedge fund firm, sold Apple Inc. shares in the first quarter and bought financial-services companies including Ameriprise Financial Inc.

Shaw cut the Apple stake by a third, or 2.4 million shares, according to a regulatory filing. The firm reduced its technology stock holdings by 1.3 percent.

[via Bloomberg]

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1. Interview with D.E. Shaw (and with Jim Clark)
2. Tim O’Reilly, Hedge Fund Guy
3. Apple and EMI: No Strings Attached?
4. The Bear Case for Apple
5. Cisco Comments on Apple-Suit Blogstorm