Netflix, Apple & Facebook Drop but Hedge Funds Like Them

Let’s move on to Apple Inc. (NASDAQ:AAPL), which also opened much lower, but has since recovered and currently is only 0.60% down. Earlier today, CNBC quoted Tim Cook’s e-mail sent to Jim Cramer, where he provided some information regarding the situation in China, which accounts for a large part of Apple’s sales. Tim Cook wrote that Apple Inc. (NASDAQ:AAPL)’s has seen a strong growth in China in the last two months and he is confident that the region will continue to bring more revenues in the long-term. Apple was the second-most popular stock among the funds we track, with 144 investors disclosing long positions worth $21.27 billion in the latest round of 13F filings. However, smart money are underweight Apple Inc. (NASDAQ:AAPL), as they own less than 3% of the outstanding stock. Carl Icahn’s Icahn Capital is by far the largest shareholder of Apple in our database, owning 52.76 million shares, which account for more than 21% of its equity portfolio.

Then there is Facebook Inc (NASDAQ:FB), which has dropped by 5% since the market opened. The decline has offset the year-to-date appreciation of the stock, which currently stands at 10%. Among the pool of funds we follow, Facebook Inc (NASDAQ:FB) has gained popularity during the second quarter, as the number of investors with long positions went up by four to 133, while the aggregate value of their holdings advanced to $8.86 billion from $7.09 billion. Nevertheless, as of the end of June, these investors hold only 3.70% of the company’s stock, while the two largest among them, Stephen Mandel‘s Lone Pine Capital and Philippe Laffont’s Coatue Management, have both raised their stakes during the second quarter to 9.76 million shares and 8.73 million shares respectively.

Disclosure: none