Third Point LLC, the New York-based hedge fund run by Daniel Loeb, exited its stake in Apple Inc. (AAPL:US) in the fourth quarter, according to a regulatory filing.
The fund sold off 710,000 shares of the Cupertino, California-based company valued at about $474 million as of the end of September, according to a filing today with the U.S. Securities and Exchange Commission. Elissa Doyle, a spokeswoman for Third Point, declined to comment on the sale in an e-mail.
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