Apple Inc. (NASDAQ:AAPL) Tops Hedge Fund Stock –Citigroup
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.
To contact the editor, e-mail:
Most Popular Slideshows
- Taylor Swift Named Forbes' Second Highest Paid Country Musician [PHOTOS]
- Forever Lost: Indescribable Anguish for Malaysia Airlines MH17 Families, Remains of Some Victims May Never Be Found (PHOTOS)
- Global Aviation Accidents: UN to Form Safety Task Force, Gov'ts Should Share Intelligence Info to Avert Future Incidents on Flying Over Warzones (PHOTOS)
- PageSix: Beyonce & Jay Z Union is Not About Love, All About Business & the Brand
Join the Conversation
- Toyota Tops World Sales of Cars, Sells Over 5K Million Vehicles in First Half of 2014
- Man Swindles Apple for $309,768 in 16 States
- Air New Zealand Pays $1000 to NZ9 Passengers After Three-Night Delay
- New Malaysia Airlines Caught in Adelaide Airport Latest Scare
- Qatar's Surging Real Estate Prices Won't Affect Thriving Economy – Report
- Samsung Galaxy S5 Alpha Leaks Online: Release Date, Five Features to Wait for New Smart Phone
- Photos of Motorola Moto X+1 Prototype and Specs Leak Online, Release Date, Four Fresh Features Revealed
- Sony Xperia Z3: Release Date, Five Features to Expect from New Android Smart Phone
- 5 Food Scandals That Shocked The World
- Top Surprising Features Of iOS 8
- Top 4 Reasons Why iPhone 6 Will Hit Big Soon After its Sept 2014 Release Date
- Iran Leader Asks Muslims to Supply Arms to Palestine, Calls Israel ‘Rapacious Wolf’