Insider Monkey follows hedge fund managers because they’re the smartest investors around. They leave less to chance than do most investors. They go to great lengths to get an “edge” over ordinary investors. Hedge fund managers also have the resources to do extensive research on public companies and they have access to experts who can guide them. We believe we are more likely to beat the market by imitating insiders and hedge funds than trading against them. Based on the transactions of nearly 350 hedge funds compiled by Insider Monkey, we present hedge funds’ 12 favorite technology stocks at the end of June:
1. Apple Inc (AAPL): A whopping 103 hedge funds had Apple in their portfolios at the end of last quarter. Hedge funds collectively own 3.3% of the outstanding shares. The stock returned 10.5% so far in 2011. Hedge fund stars like David Einhorn, John Griffin, and Chase Coleman all have AAPL in their portfolios. Dan Loeb sold his stake last quarter.
2. Microsoft Co (MSFT): Ninety-one hedge funds had Microsoft in their portfolios last quarter. Hedge funds collectively own about 3% of the outstanding shares. The stock lost about 12.5% so far in 2011. Ken Fisher’s Fisher Asset Management has $465 Million in MSFT. David Einhorn, who criticized Microsoft’s Steve Ballmer in May, increased his stake in the company by 63% last quarter (here is Einhorn’s entire speech about Microsoft).