Alger, an investment management firm, published its “Alger Spectra Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. During the first quarter of 2021, the largest portfolio sector weightings were Information Technology and Consumer Discretionary. Class A shares of the Alger Spectra Fund underperformed the Russell 3000 Growth Index during the first quarter of 2021. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Alger Spectra Fund, in their Q1 2021 investor letter, mentioned Apple Inc. (NASDAQ: AAPL) and shared their insights on the company. Apple Inc. is a Cupertino, California-based technology company that currently has a $2.2 trillion market capitalization. Since the beginning of the year, AAPL delivered a 1.62% return, extending its 12-month gains to 94.76%. As of April 19, 2021, the stock closed at $134.94 per share.
Here is what Alger Spectra Fund has to say about Apple Inc. in their Q1 2021 investor letter:
“Long position Apple Inc. was among the top detractors from performance. Apple is a leading technology provider in telecommunications, computing and services. Apple’s iOS operating system is the company’ s unique intellectual property and competitive strength. This software drives extremely tight engagement with consumers and enterprises. This tight engagement is facilitating significant growth in high margin services like music, apps and Apple Pay. Apple’s continued development of these high-margined services and earnings for wearable products such as the Apple Watch as well as the introduction of 5G phones is enhancing Apple’s growth. The shares detracted from portfolio performance as estimates of iPhone production were cut due to easing demand for the 12 Pro model and a normalizing inventory level.”
Pixabay/Public Domain
Our calculations show that Apple Inc. (NASDAQ: AAPL) ranks 10th in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, Apple Inc. was in 146 hedge fund portfolios, compared to 134 funds in the third quarter. AAPL delivered a 6.06% return in the past 3 months.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
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Disclosure: None. This article is originally published at Insider Monkey.
