5 Stocks Dumped by Hedge Funds Last Quarter

Apple (AAPL) was the most sold stock in the second quarter by the largest hedge funds, primarily due to activist investor Carl Icahn's public exit from the stock. But Apple wasn't the only large stock that smart money dumped as it continued to flee equities last quarter.

The top 10 hedge funds had aggregated equity holdings of $150 billion at quarter's end, up from $141 billion in the first quarter, while the total number of stock positions held by all 10 hedge fund managers fell to 399 from 408, according to S&P Global Market Intelligence, in its quarterly hedge fund tracker. The report analyzed Securities and Exchange Commission 13F filings by the 10 largest hedge funds by asset size to spotlight big buying and selling trends.

Besides Apple, the technology and health care sectors overall had the biggest net sells from the top hedge funds, while stocks in the consumer discretionary sector were the most bought in the three months ending June 30, while the report said. The quarter saw buying in six of the 10 S&P sectors compared with net selling in nine of the 10 sectors in the first quarter.

Apple is a holding in Jim Cramer's Action Alerts PLUS charitable portfolio.

The smart money warmed up to Charter Communications (CHTR) . The cable service provider was the most-bought stock by the 10 largest hedge funds, including Third Point, Tiger Global Management, Glenview Capital Management and Lone Pine Capital.

Check out the other most-sold stocks last quarter.

JD.com
JD.com

Market Cap: $37.1 billion
Who Sold?: Lone Pine Capital

Stephen Mandel's Lone Pine Capital sold all 22 million shares -- exiting its position -- of JD.com (JD) in the second quarter.

Notably, Viking Global increased its position in the Chinese e-commerce site by 7.4 million shares. At quarter's end, Viking Global owned 22.5 million shares, which would have a present value of $580 million if still owned, according to Bloomberg.

Also of note, Tiger Global owns roughly 44 million shares, or 3.8%, of JD.com, which did not change last quarter. The present value of that stake would be $1.13 billion, according to Bloomberg.

The stock is down more than 20% this year.

Motorola Solutions
Motorola Solutions

Market Cap: $12.7 billion
Who Sold?: ValueAct Capital Management

Jeff Ubben's ValueAct Capital dumped its entire stake -- 8.2 million shares -- of Motorola Solutions (MSI) during the second quarter.

ValueAct bought shares of the software and services company in early 2011.

The stock is up roughly 11.7% this year.

Anthem
Anthem

Market Cap: $34.1 billion
Who Sold?: Viking Global Investors

Viking Global Investors sold out of its entire position -- 4.8 million shares -- in Anthem (ANTM) during the second quarter.

Notably, Glenview Capital Management added approximately 315,000 shares last quarter. Glenview's stake totaled 3.95 million shares at June 30. Its present value would be $514 million, according to Bloomberg.

The stock is down approximately 7% this year.

Netflix
Netflix

Market Cap: $41 billion
Who Sold?: Tiger Global Management, Viking Global Investors

Chase Coleman's Tiger Global Management dumped its entire stake of Netflix (NFLX) last quarter. The 18 million-share stake was valued at $1.8 billion at the end of the first quarter, according to Yahoo! Finance.

Viking Global Investors also shaved its Netflix stake. The hedge fund sold off 1.7 million shares. At quarter's end, Viking Global still owned 6.3 million shares of the streaming service company. Viking Global's stake would be worth $600 million at present value.

The stock is down approximately 16.7% this year.

Apple
Apple

Market Cap: $585 billion
Who Sold?: Icahn Capital, Tiger Global Management

Apple (AAPL) was the most-sold stock in the quarter. Activist investor Carl Icahn sold his entire stake -- 45.7 million shares -- of the iPhone-maker's stock in April, he announced.

Apple is a holding in Jim Cramer's Action Alerts PLUS charitable portfolio.

In August 2013, Icahn was very public about his purchase of Apple shares. He took to Twitter to disclose his stake. "We currently have a large position in APPLE," he wrote. "We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come."

Tiger Global also slashed its stake in Apple. The hedge fund sold 4.3 million shares of Apple. It still owns 1.4 million shares, valued presently at $150 million.

Apple shares are up 3.1% this year.

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