Apple Inc. (AAPL): Odey Asset Management Scores Big on Swatch Short as it Bets on iWatch

In terms of investments, Odey Asset Management made some notable changes to its portfolio during the third quarter. Among them was a bump in their Apple holding by 18% to 292,809 shares, as they doubled down on their anticipation of the iWatch’s success. They also made a bigger move into United Rentals, Inc. (NYSE:URI), upping their holding by 19% during the quarter, to 816,003. The two companies would virtually switch places in value during the following quarter, effectively evening each other out, as United Rentals fell from $111 to $102, while Apple rose from $101 to $110.

Odey Asset Management’s top holdings for the quarter remained unchanged from the previous one however, with Delta Air Lines, Inc. (NYSE:DAL), D.R. Horton, Inc. (NYSE:DHI), and Signet Jewelers Ltd. (NYSE:SIG) occupying the top three positions in their portfolio. The ordering changed slightly, as Odey continued to slash their exposure to Delta, trimming their holding by another 28% after cutting it by 36% in the previous quarter, and 10% the quarter before that.

All told, they have sold off over half their Delta position over the past two filing quarters, which amounts to over 6.5 million shares in the company, taking profit from their investment in the airliner. The majority of their position was sold off for well over double the value of what it was worth when they amassed their position during the first quarter of 2013.

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