According to Bloomberg Wells Fargo and Redmond-based Microsoft are in the top 10 holdings of 17 of the mutual funds.
Apple took over from Wells Fargo as the stock most often in the top 10 holdings of the 50 largest mutual funds in the fourth quarter, and widened its lead among the biggest hedge funds, Citigroup said. Apple was a top-10 holding for 18 of the 50 largest U.S. mutual funds in the period, Tobias Levkovich, Citigroup's chief U.S. equity strategist, wrote in a note this past week.
Apple gained 6.2 percent in the quarter, while the Standard & Poor's 500 index rallied 11 percent. Wells Fargo rose 14 percent and Microsoft added 4.3 percent.
"The 30 most-held stocks for hedge funds shifted more heavily" to technology, Levkovich said in the report....
Read all about it at http://seattletimes.nwsource.com/html/businesstechnology/2017702861_fundnews11.html
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