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One hedge fund completely bailed out of AAPL, but another more than picked up the slack

Prior to Apple stock’s value recovery after a better than expected quarter, one hedge fund got rid of all of its holdings in the iPhone maker, and another went in big.

Apple CEO Tim Cook
Apple CEO Tim Cook

According to filings with the Securities and Exchange Commission made on Wednesday, two big hedge funds flipped around their Apple holdings. For starters, Coatue Management got rid of all of its shares.

Coatue started the quarter with 2.4 million shares in Apple worth around $470 million at the time. By the end of March — and before Apple’s recovery in April — it had sold all of them.

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