Thursday, February 28, 2013

Apple takes bite out of famed hedge fund managers

Investors interested in the strategies of David Einhorn and David Tepper may want to note that their top holding, According to Apple is trading close to its 52-week low, and less than the average price either of the two managers paid for their shares.

 David Einhorn, famous for the performance of his Greenlight Capital hedge fund, began buying the company in the second quarter of 2010, reporting in his annual letter that he paid an average purchase price of $248.09 per share. At the time, Einhorn noted his interest in its $40 per share in cash, the fact that it had not penetrated its markets, and its potential, albeit slower, future growth.

After numerous purchases since, he reported owning a holding of 1,307,006 shares at the end of the fourth quarter. The size places it at the top of his holdings list, comprising 10.9% of his entire stock portfolio….

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