Reuters reports that leading hedge fund managers including David Tepper, Andreas Halvorsen and David Einhorn smartly added to their holdings of Apple in the fourth quarter after the death of Steve Jobs.
The stakes have likely provided a quick pay-off. Shares of Apple are up 26 percent this year, equalling their 26 percent rise for all of 2011. The Cupertino, California-based maker of the iPhone, iPad and Macintosh computers posted spectacular quarterly results on January 24, and in the weeks that followed its shares surged to over $500.
Tepper's Appaloosa Management more than quadrupled its stake to 181,850 Apple shares in the fourth quarter, according to a disclosure statement filed on Tuesday. Halvorsen's Viking Global Investors bought 161,700 shares to end the quarter with 1.3 million shares, according to its disclosure. And Einhorn's Greenlight Capital bought 150,000 shares to end the quarter with 1.5 million. Brookside Capital Management, the hedge fund unit of Bain Capital in Boston, also upped its stake to 532,448 shares, an increase of almost 132,000 shares….
Read more at http://www.reuters.com/article/2012/02/14/us-hedgefunds-apple-idUSTRE81D20H20120214
No comments:
Post a Comment