Apple is currently trading at $315.56 near its lowest level in 2011. Apple gained 8% during the first quarter, but declined 9.46% since then. The stock is also down 2.2% since the end of 2010. Apple’s poor performance clearly hurt several hedge funds that were extremely bullish about the stock. Here are the top 10 hedge funds hurt by the decline in Apple (AAPL):
1. Rob Citrone – Discovery Capital Management: Lost $60 Million since March 31st.
2. Stephen Mandel – Lone Pine Capital: Lost $51 Million since March 31st.
3. Phill Gross and Robert Atchinson – Adage Capital: Lost $48 Million since the end of March.
5. Philippe Laffont – Coatue Management: Lost $45 Million since March 31st.
6. Lee Ainslie – Maverick Capital: Lost $39 Million since the end of March.
7. Jeffrey Altman – Owl Creek Asset Management: Lost $33 Million since March 31st.
8. John Griffin – Blue Ridge: Lost $32 Million since the end of March.
9. D.E. Shaw: Lost more than $28 Million.
10. David Einhorn – Greenlight Capital: Lost $27.6 Million during the second quarter.