Apple Inc. (AAPL), Johnson & Johnson (JNJ), Pfizer Inc. (PFE) Among AQR Capital Management’s Top Q2 Picks

AQR Capital Management, managed by Cliff Asness, recently published its 13F filing with the U.S. Securities and Exchange Commission for the second quarter of 2014. The fund revealed more than 2,000 positions, with a market value of $37.1 billion. The second-quarter equity portfolio is focused on technology, healthcare and financial stocks, which account for about 50% of the total value. Let’s discuss top three largest holdings from the AQR Capital’s portfolio for the second quarter.

AQR CAPITAL MANAGEMENT

On the top position is Apple Inc. (NASDAQ:AAPL), in which AQR Capital disclosed ownership of 4.95 million shares, with a reported value of $459.6 million. Previously, the fund reported holding 530,859 shares of the company. In its recent 13F filing, Icahn Enterprises LP, led by activist investor Carl Icahn, revealed holding 52 million shares of Apple Inc. (NASDAQ:AAPL), with a market value of $4.9 billion. Leon Cooperman of Omega Advisors reported acquiring 1.26 million shares of Apple Inc. (NASDAQ:AAPL) in the second quarter. Other investors, including Harris Associates and Ken Fisher’s Fisher Asset Management, also disclosed big stakes in Apple Inc. (NASDAQ:AAPL).

The second most valuable holding is Johnson & Johnson (NYSE:JNJ). AQR Capital reported owning 3.64 million shares, worth $381.3 million of the company. At the end of first quarter, the fund held 3.61 million shares of the company. For the second quarter of 2014, Johnson & Johnson (NYSE:JNJ) reported net earnings of $4.3 billion, or $1.51 diluted earnings per share, compared to net earnings of $3.8 billion, or $1.33 diluted earnings per share, om the same period of last year. Other hedge funds holding large stakes in the company include Ken Fisher’s Fisher Asset Management, which owns 10.49 million shares, worth $1.1 billion, and Yacktman Asset Management, run by Donald Yacktman, which disclosed holding a $946.4 million stake, containing 9.05 million shares of Johnson & Johnson (NYSE:JNJ).

Next is Pfizer Inc. (NYSE:PFE), in which AQR Capital reported holding 10.40 million shares, with a reported value of $308.5 million. The stake represents an increase from 9.45 million shares the fund held previously. Last month, Pfizer Inc. (NYSE:PFE) announced that it agreed to acquire InnoPharma Inc., a privately-held pharmaceutical development company. The deal is expected to occur during the third quarter. At the end of last month, Pfizer Inc. (NYSE:PFE) reported that it signed an agreement to acquire Baxter International Inc.’s portfolio of marketed vaccines for $635 million, and the transaction is subject to customary closing conditions as well as regulatory approvals in several markets, according to a press release.

Other significant shareholders of Pfizer Inc. (NYSE:PFE) include Irving Kahn’s Kahn Brothers, and Sanborn Kilcollin Partners LLC, led by Robert Sanborn and Rick Kilcollin, holding 2.12 million shares, and 446,696 shares, respectively.

Disclosure: none

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