This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Hedge Funds Heart Google

NEW YORK ( TheStreet) -- Hedge funds used to love Apple (AAPL - Get Report). Now it's Google's (AAPL - Get Report) 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 - Get Report), 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.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG
AAPL $124.57 0.11%
GOOG $543.20 -0.88%
NFLX $413.70 -0.72%
NWSA $16.05 0.25%
FB $81.57 -0.78%

Markets

DOW 17,716.47 -59.65 -0.34%
S&P 500 2,058.81 -9.08 -0.44%
NASDAQ 4,867.68 -33.2050 -0.68%

Partners Compare Online Brokers

Free Reports

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