Omega Advisors CEO and Chairman Leon Cooperman sold his holdings in Apple stock and purchased shares of Facebook, according to a Security and Exchange Commission filing.
In the quarterly 13F filing, Omega Advisors revealed that it had liquidated its Apple stock.
The statement also revealed that Cooperman had acquired almost 3.2 million shares of Facebook, nearly 2.2 shares of Crocs and 3.1 million shares of Freeport-McMoRan, among other names.
Cooperman had previously disclosed holding 266,000 shares of Apple.
There were no details available about the timing of Cooperman's exit from Apple.
On "Fast Money," Joe Terranova of Virtus Investment Partners said he could imagine conversations in some money managers' offices.
"The obvious thing would be to say, 'OK, well, a big guy like Leon Cooperman is getting out of Apple. Now I want to buy it,'" he said, adding that such a move would be wrong.
For someone as well respected as Cooperman to exit the trade would more likely mean that "others will follow," Terranova added.
OptionMonster's Jon Najarian added that he believed Cooperman was fed up with Apple's idle cash on hand.
"I think he's also frustrated, as many of his peers are, about the capital allocation plan," he said.
Trader disclosure: On Feb. 13, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Mike Murphy is long GS; Mike Murphy is long FB; Josh Brown is long AAPL; Josh Brown is long JPM; Josh Brown is long WFC; Josh Brown is long GDX; Josh Brown is long GLD; Josh Brown is long XLU; Josh Brown is long TLT; Josh Brown is long XLF; Josh Brown is long TGT; Josh Brown is long HD; Josh Brown is long RAX; Joe Terranova is long VRTS; Joe Terranova is long AAPL; Joe Terranova is long MJN; Joe Terranova is long JPM; Joe Terranova is long DIS; Joe Terranova is long GS; Joe Terranova is long SWN; Joe Terranova is long XOM.
