Hedge Funds’ Largest Apple Inc. (AAPL) Positions: RenTech, Citadel, Big Carl & More

Apple Inc. (NASDAQ:AAPL) is a hedge fund darling, that’s no secret. At the end of the first quarter, it was the smart money’s favorite stock pick, and recent moves by Jim Simons and Carl Icahn have only added to the bullishness.

The two hedge fund managers described above employ very different strategies. Icahn is known for taking aggressive positions in companies via 13D filings, such as his adventures in Chesapeake Energy Corporation (NYSE:CHK) and Dell Inc. (NASDAQ:DELL).

Jim Simons, meanwhile, oversees the Renaissance Technologies (or RenTech for short) network, which has the best hedge fund we’ve ever tracked–the Medallion Fund–in it.

Generally speaking, the support of these two investors should have Apple Inc. (NASDAQ:AAPL) bulls clamoring, as they are also joining other heavyweights. Aside from Simons and Icahn, here are the ten largest hedge funds invested in Tim Cook, Jony Ive, and Cupertino’s ability to bring tech innovation into the next decade and beyond.

Apple Inc. (NASDAQ:AAPL)

1. David Einhorn’s Greenlight Capital has the only $1 billion-plus position, though Icahn’s may very well be larger. It’s worth noting that Icahn’s equity portfolio (via Q1 data) dwarfed Einhorn’s by about $16 billion to $6 billion. Like Icahn, Einhorn is a big supporter of value-creation.

2. D. E. Shaw’s D E Shaw with a $750 million position.

3. Ken Fisher’s Fisher Asset Management has a $650+ million stake.

4. Phill Gross And Robert Atchinson’s Adage Capital Management, close to $600 mil in Apple Inc. (NASDAQ:AAPL).

5. Philippe Laffont’s Coatue Management, $530 mil.

6. Donald Chiboucis’s Columbus Circle Investors, with $311 million.

7. Lee Ainslie’s Maverick Capital with a similar $300+ million stake.

8. Chicago-located Ken Griffin, manager of Citadel Investment Group, with a $283 mil stake.

9. David Tepper’s Appaloosa Management Lp, $240M.

10. Larry Robbins’s Glenview Capital, with $227M.

It was Carl Icahn who once said, “Some people get rich studying artificial intelligence. Me, I make money studying natural stupidity.”

This quote perfectly embodies his thinking with regards to Apple Inc. (NASDAQ:AAPL). It’s not a secret the company is undervalued. A move to a fairer valuation–either via P/E ratios, book multiples, or even earnings growth metrics–would place Apple in the $600-$800 range, and with multiple value-creators on board now, this is a distinct possibility.

There are so many other avenues for the company to travel, however, including M&A activity, increased emerging market presence, a bigger mobile footprint in the Far East, in addition to wearable technology.

In this case, the “natural stupidity” Icahn is likely envisioning is investors’ view toward Apple. Many likely think the tech giant can never recapture old growth, or that it is doomed to churn endless iterations of its current devices to market for infinity, but that’s simply not true.

Apple Inc. (NASDAQ:AAPL) will continue to innovate, and if Carl Icahn and David Einhorn have anything to say about it, shareholders will benefit too. Ken Griffin, Tepper, Simons, and the rest of the gang will be along for the value-based appreciation.

Not a bad crew to be invested in any company with. Not bad indeed.

In case you want to brush up on the company’s comments at WWDC earlier this summer, check it out below:

Disclosure: none

Recommended Reading:

Carl Icahn is Long Apple

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

The 10 Countries with the Highest Suicide Rates

The 10 Most Technologically Advanced Countries in the World

The 10 Safest Countries in the World to Live in Peace

The 10 Top Selling Smartphones in the World 2014

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

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!