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Apple Inc. (NASDAQ:AAPL) Tops Hedge Fund Stock –Citigroup

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By Athena Yenko | March 13, 2014 5:12 PM EST

Tobias M Levkovich, Lorraine M Schmitt, and Christina Wood of Citigroup released their analysis based on 13Fs from mutual funds and hedge funds.

Apple Inc. (NASDAQ:AAPL) tops the top-ten list tallies of the largest US hedge funds and at number 6 at top-ten list tallies of largest 50 actively managed US mutual funds.

According to Tobias Levkovich, Citigroup's U.S. equity strategist, the new tallies indicate a growing preference for health-care and energy companies among hedge funds. As for the mutual fund managers, they were more inclined to the industrials stocks.

"Health Care names represented over 23% of the top holdings positions for mutual funds, marginally ahead of IT, though allocation to industrials stepped up meaningfully in fourth quarter. Similarly, hedge funds' weighting slipped away from consumer discretionary in strong favor for health care and energy equities, though discretionary names still dominate the top-ten holding lists at many hedge funds," Mr Levkovich explained.

Mr. Levkovich further said that information technology stocks became the most over-owned stock in terms of market capitalization.

Apple Inc. (NASDAQ:AAPL) is followed by Google Inc (NASDAQ:GOOG). Interestingly, the stock showed an impressive performance being the most widely held stock among the top-ten list tallies of both the hedge and mutual funds.

When it comes to individual stocks, Google Inc. maintained its top position, for five consecutive quarters now, among the tallies of the largest 50 actively managed US mutual funds at the end of 4Q13. The stock had also noticeably showed growth in terms of number of holdings.

Microsoft Corporation (NASDAQ:MSFT) landed at number two in the tallies of  the actively managed US mutual funds; Wells Fargo & Co (NYSE:WFC) at number three and Amazon.com, Inc. (NASDAQ:AMZN) came in third place.

Meanwhile, Apple Inc. (NASDAQ:AAPL) rose .13 per cent at $536.84 according to real-time stock quote published by NASDAQ OMX, March 13; previous close at $536.09; today's high $537.35, today's low at $532; 52 week high at $575.1358, 52 week low at $385.10. 

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