Alibaba, Apple Shares Sold by Some of the Biggest Hedge Funds During First-Quarter

Billionaire Dan Loeb's $10.9 billion Third Point hedge fund sold its 10 million share ownership in Chinese commerce company Alibaba (BABA) during the first quarter. The fund also purchased 3.3 million shares of Yum! Brands (YUM) and maintained its stake in auction house Sotheby's (BID). That's according to the fund's 13F filing, which the Securities and Exchange Commission requires all hedge funds to file, 45 days after the end of the quarter. It reveals what stocks each fund holds. Friday was the deadline to file the form. Meanwhile, Leon Cooperman's Omega Advisors, a $6.2 billion fund, sold its stake in Apple (AAPL) – some 383,000 shares – during the first quarter. It also sold roughly 86,000 shares of Anadarko Petroleum (APC). The fund also upped its stake in JPMorgan Chase (JPM) to about 1.1 million shares, from 941,000 during the fourth quarter of 2014.