Fidelity Contrafund's Danoff cuts Apple stake by 10 pct

BOSTON, April 1 Mon Apr 1, 2013 10:11am EDT

BOSTON, April 1 (Reuters) - Portfolio manager Will Danoff, whose $92 billion Fidelity Contrafund is the largest active shareholder in Apple Inc, cut the fund's stake in the maker of the iPhone by 10 percent during the first two months of 2013.

The Contrafund reported holding 10.43 million shares of Apple worth $4.6 billion at the end of February, according to Fidelity's latest monthly update for the fund. The fund owned 11.56 million Apple shares at the end of December.

Google Inc was the Contrafund's largest holding at the end of February, accounting for 5.8 percent of the fund's net assets. Apple dropped to No. 2, making up 5.2 percent of the fund's net assets, according to Fidelity.