A regulatory filing released today showed Omega Advisors Inc, owned by Leon Cooperman, bought Apple Inc as the stocks fell in the second quarter. The move transpired following Omega's sale of its stake in Facebook Inc.

A filing with the Securities and Exchange Commission revealed that Omega sold its 3.67 million stocks worth USD93.8 million in the social networking site. Moreover, Omega acquired 31,000 Apple stocks for a stake worth USD12.3 million as the shares dropped 10% in the second quarter.

According to Omega's website, the hedge fund manages around USD8.9 billion as of July 31 this year. Omega also dumped its share in gold and silver following the extended losses of the precious metals. Omega sold USD13.9 million in the SPDR Gold Trust. This was followed by a sale of USD4.39 million worth of shares in the iShare Silver Trust and USD4.35 million stocks in the Market Vectors Gold Miners ETF.