Big hedge funds dumped China stocks, Apple as market tumbled

Activist hedge fund Jana Partners sold out of its position in major Chinese e-commerce company Alibaba Group Holding Ltd and reduced its stake in Apple by approximately 175,000 shares, slicing its position in the company by 63 percent. Warren Buffett's Berkshire Hathaway Inc shrank its Apple stake to 249.6 million shares from 252.5 million shares in the fourth quarter. Buffett's assistant Debbie Bosanek said in an email to Reuters: "One of the managers other than Warren had a position in Apple and sold part of it in order to make an unrelated purchase.
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