Hedgies Still Loading Up On Apple…Or Are They? (AAPL)

Well…the 13-Fs are out today and there is a striking theme running through large hedge fund managers' holdings—they are still stockpiling shares of Apple Inc. AAPL. Mangers that took a bite out of Apple include Dan Loeb of Third Point (initiated a 150,000 share position), David Einhorn (bought 500,000 more shares), and Steve Mandel of the Dartmouth Endowment (bought 450,000 shares). This comes in stark contrast to Ken Heebner of the CGM Focus Fund, who said last week that he had liquidated his position in Apple. It should be noted that Heebner reported his trade is real-time, while the above fund managers' positions are as of the end of the third quarter. This is a key point given Apple Inc. turns over 16.5 million shares everyday. Effectively, all the above “bullish” accumulation could be liquidated in less than a few hours time…in fact, it may have already been.
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Posted In: Hedge FundsMovers & ShakersCGM Focus FundDan LoebDartmouth EndowmentDavid EinhornKen HeebnerSteve Mandelthird point
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