Apple Inc. (AAPL), Facebook Inc. (FB): McKinley Capital Management Is Bullish on Tech According to Latest 13F

As of the end of the first quarter of 2015, McKinley Capital Management reported a slight increase of 1,600 shares in its Magna International Inc. (NYSE:MGA) stake. The position contains 1.03 million shares, valued at $55.30 million. After selling its battery pack business to Samsung last year, the company has agreed to a joint venture with China-based Chongqing Xingqiaorui this month. Apparently, these moves helped Magna International Inc. (NYSE:MGA) to focus more on business areas and opened new markets. Even though the company’s report for the second quarter of fiscal 2015 revealed a decrease in sales of 7%, because of currency fluctuations, a rise of 18% in net income has been recorded. The higher profits indicate the small but sound way up to outperforming the market indicators. AQR Capital Management, run by Cliff Asness, is another shareholder of Magna International, among the funds we track.

In its latest 13F filing, McKinley Capital Management disclosed holding 650,387 shares of Facebook, Inc. (NASDAQ:FB), valued at $53.47 million.  The company’s latest financial results showed a 42% increase in revenues up to $3.54 billion for the first quarter of 2015, despite the fact that the social network company has to face a stronger US dollar along with the constantly increasing expenses. As of the end of 2014, Stephen Mandel‘s Lone Pine Capital had the largest position in Facebook Inc (NASDAQ:FB) among the funds we track with 13.50 million shares, followed by Coatue Management and Citadel Investment Group.

Disclosure: none.