Hedge Fund News From HedgeCo.Net

Apple dragging down hedge funds

CNN – Shares of Apple have plunged more than 35% since mid-September, when they hit an all-high of $705. And hedge funds held roughly 3.1% of Apple’s outstanding shares, as of Sept. 30, according to FactSet.

Greenlight Capital, run by noted short seller David Einhorn, lost nearly 5% in the fourth quarter, and Apple was one of the biggest culprits, according to a source familiar with the fund’s returns. For all of 2012, Einhorn ultimately returned 8% to his investors.

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