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Vitaliy Katsenelson
Articles (1315)  | Author's Website |

More Hedge Funds Are Selling Apple Stock

May 17, 2012 | About:

Today we have updated portfolios of almost all the Gurus we track. We will write a series of articles discussing the trends we observe. In this article we want to share with you about Apple (NASDAQ:AAPL), the most storied stock and the most valuable company on earth.

Apple has been a wildly popular stock among the hedge fund gurus we track. Fewer mutual fund gurus own the stock as they are more toward traditional Ben Graham and Warren Buffett type of value investor. For the first quarter we have observed a lot selling with Apple among the hedge funds we track. This is quite a change of actions from the previous quarter. In the only four gurus added more to their positions in Apple; two initiated positions. Eleven hedge fund gurus reduced their Apple holdings; two sold out their positions completely. This is a strong change of action from the previous quarter, when 15 gurus added or bought into Apple, and only one reduced his position.

Among those who bought into Apple in the first quarter, Daniel Loeb of Third Point Capital bought 362,000 shares, which is more than 5% of his portfolio. Larry Robbins of Glenview Capital bought 48,100 shares, which is only 0.5% of his portfolio.

Hedge fund giant David Tepper bought heavily into Apple. The position is now more than 10% of his stock portfolio. Among others, Apple is the largest position of Greenlight’s David Einhorn and hedge fund legend Julian Robertson. Both have more than 15% of their equity positions in Apple and it is their largest holding. Julian Robertson added more to his position in Apple, while David Einhorn kept the position unchanged.

Famous hedge fund managers such as George Soros, Ray Dalio and Jim Simons sold large portions of their Apple holdings. Paul Tudor Jones sold Apple completely.

So far those who sold Apple have been right, as the stock lost more than 15% from its peak in April.

Learn more about hedge fund holdings and personalize your gurus here.

About the author:


Vitaliy N. Katsenelson, CFA, is Chief Investment Officer at Investment Management Associates in Denver, Colo. He is the author of The Little Book of Sideways Markets (Wiley, December 2010). To receive Vitaliy’s future articles by email or read his articles click here.
Investment Management Associates Inc. is a value investing firm based in Denver, Colorado. Its main focus is on growing and preserving wealth for private investors and institutions while adhering to a disciplined value investment process, as detailed in Vitaliy’s book Active Value Investing (Wiley, 2007).

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