Fidelity Dumps More Apple Stock

Old computers

BOSTON (Reuters) – After cutting its stake in Apple Inc by 12 per cent in the first quarter, Fidelity’s Contrafund trimmed its holdings in the iPhone maker by another 9 per cent in April.

Contrafund, run by portfolio manager Will Danoff, reported owning about 9.2 million shares of Apple at the end of April, according to disclosures by Boston-based Fidelity Investments. Contrafund owned 10.1 million Apple shares at the end of the first quarter.

Contrafund is the largest active shareholder in Apple. Only a Vanguard Group index fund owns more shares.*

(Reporting by Tim McLaughlin; Editing by Jeffrey Benkoe)

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