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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Hedge Funds Heart Google

NEW YORK (TheStreet) -- Hedge funds used to love Apple (AAPL). Now it's Google's (AAPL) turn to be top dog.

Research from Citi Investment Research shows that the search giant took the top holding spot in the top 50 actively managed US mutual funds ending the fourth quarter. Google also claimed top spot in hedge fund holdings. Sixteen of the largest fifty hedge funds held Google as their top holding as of the end of the fourth quarter, up from 15 in the third quarter.

Even though Google was a top holding in the fourth quarter, its shares didn't perform well. Shares fell 6.2% in the period from Sept. 28 to Dec. 31, but have fared much better recently. From Dec. 31 through March 4, Google was up 16.1%.

In contrast, Apple share decline has been mirrored by its weighting with hedge funds. Apple was the top holding in 23 of the top 50 hedge funds during the third quarter, but is now the top spot in just 10 funds. Shares of Apple fell 20.2% in the period from Sept. 28 to Dec. 31, and have lost another 21.1% of their value from Dec. 31 through March 4.

Another analyst, however, cites AIG (AIG) as the most popular hedge fund holding. Goldman Sachs recently came out with a report surveying a greater number of funds, which cited AIG as the top holding. According to Citi's chart, AIG was the second most popular holding, claiming top position at 13 of the largest hedge funds, up from 10 in the third quarter.

News Corp. came in third place, according to the chart, with 11 funds holding it in the top spot, up from 8 in the third quarter. The biggest gainer was Netflix (NFLX), which took the top place in 4 of the top 50 funds in the fourth quarter, up from none in the third quarter. As a result, Netflix shares have enjoyed incredible appreciation in both the fourth quarter and since Dec. 31. Shares of the online entertainment company surged 70.1% from Sept. 28 to Dec. 31, and have climbed even more, gaining 95.7% from Dec. 31 through March 4.

Of the top 30 most widely held sectors, Consumer Discretionary was the top holding, with 26.7%. Information Technology also had 26.7% of the weighting. Energy and Financials both held 13.3% weightings, with Consumer Staples rounding out the top 5 with 10% of the weighting. Healthcare and Telecommunication Services accounted for the remaining 10%, with 6.7% and 3.3% respectively.

Below is the table from Citi's report, showing all the holdings.

--Written by Chris Ciaccia in New York

>Contact by Email.

Stock quotes in this article: GOOG, AAPL, NFLX, NWSA 

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.
DOW 16,494.12 -20.25 -0.12%
S&P 500 1,876.90 -2.65 -0.14%
NASDAQ 4,137.2890 -24.1690 -0.58%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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