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. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

The 10 Most Expensive Cruise Ships in the World

The 10 Fastest Supercomputers in the World

The 10 Best Countries for Doing Business 2015

6 Most Expensive Fruits In The World

10 Worst Airlines in the World

The 10 Biggest Tax Havens in the World to Stash Your Money

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!