Apple Inc. (AAPL): Billionaire Ken Fisher Just Gave The Stock a Giant Vote of Confidence

Billionaire Ken Fisher is an investment fund manager, not a hedge fund manager, and he chooses to disclose his 13F filings, which are used to track the equity holdings of prominent investors, earlier than his peers. 13F forms are very useful for investors, who like to use it as a way to find stock ideas for further research. According to a filing from April 8th, Fisher has rencently increased his stake in Apple Inc. (NASDAQ:AAPL) by 551,660 shares.

Owning at the end of 2012 a total of 949,124 shares, Fisher currently has 1,500,784 shares in Apple Inc. (NASDAQ:AAPL), according to a Form 13F filed by Fisher Asset Management’s Chief Compliance Officer, Tom Fishel to the United States Securities and Exchange Commission (SEC).

Ken Fisher FISHER ASSET MANAGEMENTNot so far ago, we have reported about hedge funds’ top consensus picks, where we mention that Apple, despite being the most popular stock among hedge funds for a very long time, according to the latest filings, hedge funds were dumping their top tech picks in favor of financials.

According to the 13F filings for the last quarter of 2012, Apple Inc. (NASDAQ:AAPL) had surrendered the first place as the most popular stock in favor of American International Group Inc (NYSE:AIG); 142 hedge funds held long positions in the insurer. Even though in the last three months of 2012, 132 of the funds we track were still long Apple, 26 stocks dumped the stock, while top-tier hedge fund managers like Dan Loeb or Stephen Mandel were cutting Apple Inc. (NASDAQ:AAPL) entirely in the fourth quarter.

Fisher’s latest move into Apple, then, is a gargantuan development.

Ken Fisher is one of the 40 or so billionaires that we track in the MarketWatch Insider Monkey Billionaire Hedge Fund Index. Also, he has ranked in Forbes’s 400 richest Americans (252nd position in 2010 list).

In his 13F filing from the previous quarter, Fisher had reported holding about 33 million shares in Cisco Systems, Inc. (NASDAQ:CSCO), 19 million shares in Wells Fargo & Co (NYSE:WFC), and 3.3 million shares in International Business Machines Corp. (NYSE:IBM). Also, in an article in Forbes (where Fisher works as a columnist), he said that his top stock pick for 2013 is Pfizer Inc. (NYSE:PFE). The drug manufacturer is Fisher’s largest holding, where his fund has about 32 million shares.

For more Apple Inc. (NASDAQ:AAPL) news, check out how analysts are trading the stock.

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Top Reasons For Getting Fired

The 3 Best States to Start an LLC

10 Jobs That Allow You to Travel

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!