“Top U.S. hedge fund management firms, including David Einhorn’s Greenlight Capital and Philippe Laffont’s Coatue Management, reduced their stakes in Apple Inc during the fourth quarter, ahead of the iPhone maker’s strong rally in 2015, according to regulatory filings,” Svea Herbst-Bayliss and Sam Forgione report for Reuters.
“Apple was a big winner in 2014, with its shares rising nearly 38 percent. The company’s stock is up more than 16 percent year to date and reached an intraday record high of $129.45 per share,” Herbst-Bayliss and Forgione report. “Last week, its stock market value rose above $700 billion, bigger than Switzerland’s gross domestic product.”
“The actions by Greenlight and Coatue were revealed in quarterly disclosures of manager stock holdings, known as 13F filings, with the U.S. Securities and Exchange Commission. They are of great interest to investors trying to divine a pattern in what savvy traders are selling and buying,” Herbst-Bayliss and Forgione report. “The disclosures are backward-looking and come out 45 days after the end of each quarter. Still, the filings offer a glimpse into what hedge fund managers saw as opportunities on the long side.”
Much more in the full article here.
OLD NEWS !!
These “big” hedge funds obviously suffer from premature speculation.
Lol!
Nice.
They fail to mention that most hedge funds have limits on any single holdings and AAPL’s run means they had to reduce their holdings.
It does remind investors to watch out for end of quarters potential pull back as large hedge fund adjust their holdings.
Goes to show how much those guys know…