Bessemer Trims Apple Stake, Sells $340M Worth of Shares

Bessemer Group Inc., a prominent hedge fund, has made some adjustments to its portfolio. According to its latest Form 13F filing with the Securities & Exchange Commission, Bessemer reduced its stake in Apple Inc. (NASDAQ:AAPL) by 2.7% during the first quarter.

The fund owned approximately 11.9 million shares of Apple's stock after selling 337,156 shares. This represents about 4.8% of Bessemer Group Inc.'s holdings, making it Apple's second-largest position within their portfolio.

Bessemer Group Inc. held around $3 billion worth of Apple shares as of its most recent filing with the SEC.