Apple Remains Top Holding As Rockefeller Capital Loads Up Heavily On Amazon, NYSE Parent In Q3, Trims Stake In This Tech Giant

Rockefeller Capital Management L.P. has loaded up on shares of retail giant Inc. AMZN and financial services company Intercontinental Exchange Inc. ICE during the third quarter, according to SEC filings.

What Happened: The New York-based hedge fund bought over 873,000 shares of Intercontinental Exchange during the quarter taking the valuation of its holding to over $88 million. The company’s shares have traded flat over the last month.

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Rockefeller Capital Management also purchased over 496,000 shares of Amazon during the quarter taking the valuation of its holdings to over $369 million. Amazon shares have lost over 20% in the last month. ICE and Amazon were the top buys of the fund during the quarter, according to Whale Wisdom.

Jimmy C. Chang, Chief Investment Officer at Rockefeller Global Family Office has said in a note that he is more positively disposed to U.S. Treasuries than equities. “The shorter-end of the yield curve offers more than 4% in yield to park dry powder, while the unusually high volatility in the Treasury market offers opportunities to accumulate longer-dated bonds. As recession becomes more apparent, I expect long#dated bond yields to come down materially,” he said.

Major Sale: The fund offloaded shares in Meta Platforms Inc META during the quarter, having sold over 460,000 shares of the tech giant, taking the valuation of its holding to over $136 million.

Apple Inc AAPL, Microsoft Corporation MSFT and SPDR S&P 500 ETF Trust SPY are the top three holdings of the fund, according to Whale Wisdom.

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Posted In: Long IdeasNewsShort IdeasMarketsTrading Ideas13F filingsJimmy C. ChangRockefeller Capital Management
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