Apple (AAPL) is Hedge Fund Favorite by Nearly Double Next Nearest Holding
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Continuing Streetinsider's non-stop hedge fund coverage Friday, we have an update from Citigroup Global Markets and several other firms about the top hedge fund holdings for 2011.
Topping the list was Apple (Nasdaq: AAPL) -- no surprise there. What is a little unsettling is the stock outpaced the second-best holding be nearly double!
Apple was a good investment to be sure. Since the start of 2011, Apple has gained 24 percent to about $400, all without paying a dividend. By comparison, dividend-friendly Verizon shares rose 17 percent. Add the 5.2 percent dividend yield (which was boosted 5 percent in September) for a total paper return of 22.5 percent.
According to data compiled by Insider Monkey (running through the third quarter), Apple was held by 125 hedge funds tracked. Coming in second place was QUALCOMM (Nasdaq: QCOM) at 66.
Halliburton (NYSE: HAL) was third at 47 funds, Ford Motor (NYSE: F) and Hewlett-Packard (NYSE: HPQ) were tied for fourth at 43, and Schlumberger (NYSE: SLB) was fifth at 42 funds.
Citigroup affirmed Insider Monkey's data, saying Apple was a top-ten holding for 17 hedge funds in 2011 through the third quarter, making it the second most widely-held stock since the third quarter of 2010.
But don't just take our word for it, head over to Apple's Hedge Fund Insider page for a look at recent positions in the company, and who has them!
Shares of Apple are up 0.6 percent, hanging above the $400 level, amid low volume on the session.
Topping the list was Apple (Nasdaq: AAPL) -- no surprise there. What is a little unsettling is the stock outpaced the second-best holding be nearly double!
Apple was a good investment to be sure. Since the start of 2011, Apple has gained 24 percent to about $400, all without paying a dividend. By comparison, dividend-friendly Verizon shares rose 17 percent. Add the 5.2 percent dividend yield (which was boosted 5 percent in September) for a total paper return of 22.5 percent.
According to data compiled by Insider Monkey (running through the third quarter), Apple was held by 125 hedge funds tracked. Coming in second place was QUALCOMM (Nasdaq: QCOM) at 66.
Halliburton (NYSE: HAL) was third at 47 funds, Ford Motor (NYSE: F) and Hewlett-Packard (NYSE: HPQ) were tied for fourth at 43, and Schlumberger (NYSE: SLB) was fifth at 42 funds.
Citigroup affirmed Insider Monkey's data, saying Apple was a top-ten holding for 17 hedge funds in 2011 through the third quarter, making it the second most widely-held stock since the third quarter of 2010.
But don't just take our word for it, head over to Apple's Hedge Fund Insider page for a look at recent positions in the company, and who has them!
Shares of Apple are up 0.6 percent, hanging above the $400 level, amid low volume on the session.
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