Jana Partners Dumps Apple Stake in Q4

According to Jana Partner's 13F filing released Thursday, the hedge fund dumped its stake in tech giant

. Jana Partners, run by Barry Rosenstein, sold 143,148 shares in the fourth quarter of 2012. To be clear, 13F filings are, by the time the public sees them, outdated. It is quite possible that Rosenstein could have bought back his Apple position sometime in the last six weeks. It also isn't clear when the Apple shares were sold. At the beginning of October, shares were still trading near $700, so Rosenstein's sale might have just been an effort to take some profits. On the other hand, if sold late in December -- when shares were hovering around $500 -- he may have legitimately deemed Apple to be overvalued. Jana Partners is mostly known as an activist hedge fund. Jana has gone after McGraw-Hill

and TD Ameritrade

in the past, and pushed for the breakup of El Paso and the spin-off of Marathon Petroleum's

pipeline business. Jana's investment in Apple, then, might have been outside its core investing strategy. Shares of Apple traded near $468 on Thursday, little changed on the session.