March 8, 2016

Why Apple is NOT a Top Ten Holding of 93% of Hedge Funds

To infinity and beyond Buzz Lightyear   A recent report by Goldman Sachs describes Apple (AAPL) as a “Very Important Position” (top ten holding) for 47 hedge funds. Overlooked is that fact that it’s not a significant position for 93% of the hedge funds in the survey and represents only a 1-2% overall allocation, less than its weighting in the S&P 500. Further, three years ago it was in fact a top ten holding of 109 hedge funds, so more than half decided to cut back. What happened? Perhaps the real question is, “how cheap is AAPL today?” Carl Icahn, …

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