Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Adage Capital Ups Stake in Constellium NV (CSTM); Apple Inc. (AAPL), Microsoft Corporation (MSFT) Among Top Picks

Adage Capital’s top pick heading into 2015 was Puma Biotechnology Inc (NYSE:PBYI), one of the biggest success stories among mid-cap stocks in 2014, as shares gained 82.27% on the year. July 23 was an historic day for the stock, as it gained nearly 300% in a single day following positive trial results for its breast cancer treatment, neratinib.

Puma Biotechnology Inc (NYSE:PBYI)

Adage, the largest shareholder of the company at the end of the second quarter of 2014 with 5.69 million shares, made over $1 billion that day. The leap also shot Puma Biotechnology Inc (NYSE:PBYI) from being its ninth-most valuable position to its most valuable by the end of third quarter, despite the stake remaining unchanged. The position remained flat in the fourth quarter, with the 5.69 million shares now worth $1.08 billion. Adage is still the largest shareholder of Puma Biotechnology Inc (NYSE:PBYI), followed by Samuel Isaly’s Orbimed Advisors having the next largest position among tracked funds with 250,900 shares.

Adage Capital’s next two picks need little introduction, as Apple Inc. (NASDAQ:AAPL) and Microsoft Corporation (NASDAQ:MSFT) rounded out the fund’s top three. The fund has been a longtime investor in both technology companies, which also happen to be among the top dividend stocks, having been invested in each of them for more than a decade. The fund has benefited not only from those dividends, but in the case of Apple, from shares that have greatly appreciated over that time.

At the end of 2014, Adage held 9.01 million shares of Apple Inc. (NASDAQ:AAPL) worth $994.24 million, down by 115,000 shares from the previous quarter, while in Microsoft Corporation (NASDAQ:MSFT) the fund held 12.38 million shares, worth $575.01 million, representing a decrease of 417,400 shares from the previous quarter. While Apple remained on the second spot, Microsoft moved up one position during the fourth quarter, surpassing Shire PLC (ADR) (NASDAQ:SHPG), in which Adage opened a large stake during the third quarter, but closed it during the fourth after a potential merger with AbbVie Inc (NYSE:ABBV) dissipated, causing shares to sink.

Disclosure: None

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...