These Hedge Funds Have Been Killed By Apple Inc. (AAPL)’s Selloff

Apple Inc. (NASDAQ:AAPL) is the most popular stock in the hedge fund industry; that’s no question. Of the 400+ money managers we track here at Insider Monkey, Cupertino takes the cake with 146 funds invested, above the likes of Google Inc (NASDAQ:GOOG)‘s 132 and American International Group, Inc. (NYSE:AIG)‘s 110. Thus, it’s important to understand that it’s not just retail investors who have been harmed by Apple’s selloff, but the smart money as well.

Should this Concern Apple Inc. (AAPL) and Google Inc (GOOG)?

Without further ado, let’s take a look at the top 12 hedge funds invested in Apple Inc. (NASDAQ:AAPL) at the end of the last 13F filing period with the SEC. This data is gathered from our records (see every hedge fund invested in this tech giant), and is organized by the percentage of 13F capital that each fund has allocated to shares of AAPL. Long-only positions are shown below.

Without a doubt, the most committed Apple Inc. (NASDAQ:AAPL) bull in the hedge fund industry–at least at the end of the third quarter–was Robert Raiff’s Raiff Partners, which had close to a quarter of its 13F assets invested in the tech giant. Rob Citrone also had over 20% of his portfolio invested in the stock, and held a much larger position, in dollar terms.

Some of the bigger names on this list include David Einhorn’s Greenlight Capital, Tiger Global Management, and Tiger Management, though it’s worth noting that the total size of Citrone’s position trumps this trio quite handily.

Of this dozen, John Hurley’s Cavalry Asset Management was the most bullish in the third quarter, increasing the size of his Apple Inc. (NASDAQ:AAPL) investment by a whopping 437%.

A few other names that aren’t on this list, but fell in the top 20 include David Tepper and Dan Loeb, two of the hedge fund industry’s most prominent billionaires.

As of this writing Apple is still up close to 8% over the past year, but its 6-month (-24.5%), 3-month (-26.5%) and 1-month (-12.8%) returns are pitiful, making it a failed gamble for any investors hoping to catch a falling knife, so to speak.

Moving forward, we’ll be excited to see the next round of 13F filings, to see what hedgies have been doing with Apple Inc. (NASDAQ:AAPL) more recently, but until then, it’s still important to track which money managers have been hurt most by the stock’s selloff.

For more Apple coverage, continue reading here:

Almost Every Investor is Misunderstanding This Apple Fact

Apple: Cut Losses, Hold, or Double Down?

Is Apple the Next RIM?

Disclosure: I have no positions in any of the stocks mentioned above

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