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Top trader Lebenthal, up 31% this year, sells Apple

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CNBC "Halftime Report" investor Jim Lebenthal sold his Apple position in his CNBC PRO model portfolio Monday.

The CEO of Lebenthal Asset Management is up 31 percent this year, which is good for first place in the trading contest.

Here's what Lebenthal sees and why he decided to take profits on the iPhone maker.