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GLG Partners LP is an investment advisory and hedge fund management firm. It is a subsidiary of GLG Partners Inc., which in turn is the subsidiary of Man Group, Ltd. The fund manages a total of over $20 billion in assets (both equity and fixed income).

I discussed the Top Buys of GLG Partners in a previous article. In addition to buys, it is also interesting to have a look at top companies where GLG is booking profit and selling its holdings. The following is a list of its top sells (market value wise) in the last quarter, as released in its most recent 13F filing with the SEC.

Top Position Decreases

Company Name

Ticker

MV Change (USD $)

Current Position

Change
In Position

Apple Inc

(NASDAQ:AAPL)

-63,370,788

102,368

-178,064

Wells Fargo & Co

(NYSE:WFC)

-50,252,725

16,859

-1,582,819

Google Inc-Cl A

(NASDAQ:GOOG)

-36,824,062

484

-62,692

Citigroup Inc

(NYSE:C)

-29,293,049

109,510

-656,396

Top Sell Outs

Company Name

Ticker

MV Change (USD $)

Current Position

Change
In Position

Williams Cos Inc

(NYSE:WMB)

-36,517,174

0

-1,171,173

MetLife Inc

(NYSE:MET)

-28,720,283

0

-642,081

Apache Corp

(NYSE:APA)

-25,976,885

0

-198,418

Kinder Morgan Inc

(NYSE:KMI)

-24,141,513

0

-814,491

St Jude Medical Inc

(NYSE:STJ)

-20,182,600

0

-393,730

Citigroup and Wells Fargo are down 28% and 14% respectively from July 1. GLG partners was able to avoid significant losses by timely reducing these positions. I am still sceptical about prospects of weaker banks like Citigroup and Bank of America (NYSE:BAC). I believe buying stocks of these banks are equivalent (similar risk reward) to buying call options on US recovery. Wells Fargo is comparatively well capitalized and if one does need to take a position in the banking sector, I would suggest Wells Fargo as it has better risk reward.

One of the stocks in the above list where I don’t agree with GLG Partners and would actually like to go long on, is Apple. I believe recent pullback in Apple provides a good opportunity to build a position in the stock before the upcoming iPhone 5 launch. The IPhone 5 is likely to drive typical excitement during 2011 holiday season with growth driven by upgrades and new users. Apple is a secular growth and market share gain story in the smart phone and tablet space. At 11x next year EPS and cash in hand of ~ $75 bn, it is one of the best stocks to buy in current uncertain times.

For other stocks in the above list, here are some of the specifics about these companies, including a brief description of their businesses, growth expectations (top line and bottomline):

Google Inc. is primarily an internet search company. The Company maintains an index of Websites and other online content, and make it available through its search engine to anyone with an Internet connection. The company generates revenue primarily by delivering online advertising. Google's EPS forecast for the current year is $35.47 and next year is $41.88. According to consensus estimates, its top line is expected to grow 30.30% in the current year and 22.20% next year.

Williams Companies, Inc. is an integrated natural gas company focused on exploration and production, midstream gathering and processing, and interstate natural gas transportation primarily in the Rocky Mountains, Gulf Coast, Pacific Northwest, Eastern Seaboard and the Marcellus Shale in Pennsylvania. Williams’ EPS forecast for the current year is $1.52 and next year is $1.75. According to consensus estimates, its top line is expected to grow 7.00% in the current year and 5.90% next year.

MetLife, Inc. is a provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 60 countries. Through its subsidiaries and affiliates, MetLife operates in the United States, Japan, Latin America, Asia Pacific, Europe and the Middle East. It is organized into five segments: Insurance Products, Retirement Products, Corporate Benefit Funding and Auto & Home (collectively, U.S. Business) and International. MetLife's EPS forecast for the current year is $5.22 and next year is $5.84. According to consensus estimates, its top line is expected to grow 24.20% in the current year and 4.80% next year.

Apache Corporation is an independent energy company, which explores for, develops and produces natural gas, crude oil and natural gas liquids. Apache's EPS forecast for the current year is $12.02 and next year is $13.03. According to consensus estimates, its top line is expected to grow 38.20% in the current year and 10.10% next year.

Kinder Morgan, Inc. owns the general partner and approximately 11% of the limited partner interests of the Kinder Morgan Energy Partners, L.P. KMP's operations are conducted through its subsidiaries and are grouped into five business segments: Products Pipelines, Natural Gas Pipelines, CO2, Terminals and Kinder Morgan Canada. Kinder Morgan's EPS forecast for the current year is $1.02 and next year is $1.27. According to consensus estimates, its top line is expected to grow 3.80% in the current year and 10.20% next year.

St. Jude Medical, Inc. develops, manufactures and distributes cardiovascular medical devices for the global cardiac rhythm management, cardiology and cardiac surgery and atrial fibrillation therapy areas and neurostimulation medical devices for the management of chronic pain. St. Jude operates in four segments: Cardiac Rhythm Management, Cardiovascular, Atrial Fibrillation and Neuromodulation. St. Jude Medical's EPS forecast for the current year is $3.28 and next year is $3.64. According to consensus estimates, its top line is expected to grow 10.00% in the current year and 7.00% next year.

Source: Top Sells of GLG Capital Partners