This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Apple Tops Hedge-Fund List of Favorite Stocks

BOSTON ( TheStreet) -- Apple (AAPL), already the top favorite among hedge funds, gained more admirers in the second quarter, including Eric Mindich and Larry Robbins.

Apple was ranked the No. 1 "must-have" stock in the first quarter, according to Goldman Sachs' Hedge Fund Trend Monitor, which dissects 700 hedge funds with $1.25 trillion in equity assets. Apple was among the top 10 positions at 63 hedge funds as of March 31, heading the so-called VIP list. The maker of Mac computers, iPhones and iPads looks likely to repeat as the top company on Goldman's second-quarter VIP list.

Many hedge fund managers added to positions in Apple or established new holdings during the second quarter. On June 20, the stock fell to $310.50, its lowest point since November 2010. Since then, shares have rallied more than 20% through Monday, hitting a record high of $404.50 in late July after the company reported quarterly earnings results that blew past estimates.

Not all hedge funds were fans of Apple in the quarter, though. Some other fund managers bailed on the company during the second quarter, including Daniel Loeb with Third Point and Bruce Kovner with Caxton Associates.

Here are the prominent hedge fund managers buying and selling Apple during the second quarter:

Jim Simons, Renaissance Technologies -- The New York-based fund, which employs a quantitative strategy, more than doubled its holding in Apple, finishing the quarter with 1.3 million shares.

Eric Mindich, Eton Park Capital -- The long/short hedge fund initiated a new stake in Apple, buying 500,000 shares.

Larry Robbins, Glenview Capital -- The New York-based hedge fund manager, who used to work for Leon Cooperman at Omega Advisors, also started a new position in Apple, buying 482,000 shares.

Steven Mandel, Lone Pine Capital -- A former student of legendary hedge fund manager Julian Robertson, Mandel bought 422,000 shares of Apple, taking his entire stake to nearly 2 million shares.

Steven Cohen, SAC Capital Advisors -- Based in Stamford, Conn., Cohen's active fund added 344,000 shares of Apple. SAC Capital owned more than 598,000 shares of the tech giant as of June 30.

Robert Citrone, Discovery Capital -- The hedge fund, based in South Norwalk, Conn., counted Apple as its top position already before buying another 289,000 shares in the quarter. The hedge fund now owns 2.1 million shares of Apple.

Jeffrey Vinik, Vinik Asset Management -- The Boston-based hedge fund known for its extreme secrecy picked up 257,000 shares of Apple to boost its stake to 850,000.

David Einhorn, Greenlight Capital -- Einhorn's Greenlight Capital added to its established position in Apple by purchasing 240,000 shares in the second quarter, bringing its holding to nearly 1.1 million shares.

John Griffin, Blue Ridge Capital -- Griffin's fund, which seeks absolute returns by using a long/short strategy, bought about 222,000 shares of Apple. Blue Ridge now owns 1.2 million shares of the company.

Ken Griffin, Citadel Advisors -- The Chicago-based fund slashed its holding in Apple, selling 1.1 million shares. Citadel held about 800,000 shares of Apple as of June 30.

Daniel Loeb, Third Point -- The long/short fund manager, based in New York, completely sold out of his position in Apple during the second quarter, dumping 200,000 shares.

George Soros, Soros Fund Management -- The billionaire fund manager, who will close to outside investors this year, sold almost 160,000 shares of Apple, leaving him with about 71,000 as of June 30.

David Shaw, D.E. Shaw & Co. -- The New York-based hedge fund manager trimmed 100,000 shares from his position in Apple, bringing the fund's total position down to 1.9 million shares.

Bruce Kovner, Caxton Associates -- The global macro hedge fund, based in New York, dumped his entire position by selling about 97,000 shares of Apple.

-- Written by Robert Holmes in Boston.



>To contact the writer of this article, click here: Robert Holmes.

>To follow Robert Holmes on Twitter, go to http://twitter.com/RobTheStreet.

>To submit a news tip, send an email to: tips@thestreet.com.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs