Photo: Screenshot from CNBC
Tech giant Apple posted disappointed earnings results yesterday and missed analysts’ expectations pretty much across the board. The stock, which has been a hedge fund favourite for quite some time, was last down more than 11.6% today.
Here’s a rundown of the 10 hedge funds with the largest stake in Apple, according to 13F data for the third quarter ended 9/30/2012 compiled by Bloomberg.
- Discovery Capital (Robert Citrone): The ‘Tiger Cub’ hedge fund held 2,017,052 Apple shares, or a 0.21% stake at the end of Q3. The fund added 63,100 shares in that quarter, the data shows.
- D.E. Shaw (David E. Shaw): At the end of Q3, the fund held 1,529,0777 shares or a 0.16% stake. D.E. Shaw sold 285,887 shares during the third quarter.
- Coatue Management (Philippe Laffont): The fund had 1,424,738 Apple shares or a 0.15% stake. Coatue sold 89,564 shares in Q3.
- Adage Capital Partners: As of 9/30/2012, Adage held 1,321,536 million shares in Apple or a 0.14% stake. Adage added 27,600 shares in Q3, the data shows.
- Tiger Global Management (Chase Coleman): Tiger Global held 1,300,000 shares of a 0.14% stake in Apple, The hedge fund sold 100,000 shares of Apple in the third quarter.
- Viking Global (Andreas Halvorsen): Viking Global, which is also a Tiger Cub, owned 1,094,000 Apple shares at the end of Q3 or a 0.12% stake. Viking added 113,400 shares, the data shows.
- Greenlight Capital (David Einhorn): Greenlight owned 1,090,890 shares of Apple or a 0.12% stake. Greenlight sold 363,630 shares in Q3.
- Columbus Circle Investors: The fund held 985,491 shares in Apple of a 0.10% stake as of 9/30/2012. Columbus Circle Investors sold 44,036 shares in the third-quarter.
- Lone Pine (Stephen Mandel): The ‘Tiger Cub’ hedge fund held 805,269 shares of Apple at the end of Q3. Lone Pine sold 617,940 shares of Apple during the third-quarter.
- Third Point LLC (Daniel Loeb): Third point owned 710,000 shares of Apple or a 0.8% stake as of 9/30/2012. Third Point had added 285,000 shares of Apple during Q3.
In his Q4 letter to investors yesterday, Einhorn wrote how their “bruised” Apple stake hurt their fourth quarter performance. The fund was down 4.9% in Q4.
Einhorn also said that with Apple shares sliding in fourth quarter they erased their gains from the third quarter. However, he said he used that opportunity to repurchase shares they sold in the third quarter.
Also, as a reminder, hedge funds only have to disclose their long holdings in 13F filings with the SEC. Fourth quarter 13Fs will be out in mid-February.