Skylands Capital Trims Top Holdings Heading Into Q2

Skylands Capital’s stake in General Motors Company (NYSE:GM) has also been slightly reduced during the first quarter, with the fund currently holding 820,200 shares worth approximately $25.8 million. Among the funds in our database, Warren Buffett‘s Berkshire Hathaway continues to hold the largest position in the iconic car maker, which amounts to exactly 50 million shares worth $1.7 billion at the end of 2015. General Motors Company (NYSE:GM) stock is close to reaching the break-even point for the year, as the general market sell-off pushed to stock down by as much as 20% during the first quarter. For the last quarter, General Motors Company (NYSE:GM) posted earnings of $1.26 per share, easily beating the consensus estimate of $1.01, while its revenue grew by 4.5% on the year to $37.3 billion, also above the expectations of $35.75 billion.

As fears about Apple Inc. (NASDAQ:AAPL)‘s ability to keep on generating record sales on its flagship device – the iPhone – have resurfaced, Skylands Capital cut its holding of the stock by 5% to 349,365 shares valued at $38.1 million. In contrast to that, Ken Fisher‘s Fisher Asset Management inched up its position by 1% to 11.3 million shares worth more than $1.24 billion. Apple Inc. (NASDAQ:AAPL) stock tumbled on news of a significant decrease in iPhone shipments for the first quarter of 2016. Apple shipped approximately 42 million units, down by 43.8% from the 2015 fourth quarter and 23% lower compared to the first quarter of 2015, as reported by TrendForce. TrendForce said iPhone 6S sales were hurt by the device’s lack of exciting new features and that it expects the new iPhone SE to find it hard to attract customers in the Chinese market, which Apple Inc. (NASDAQ:AAPL) sees as critically important, due to stern competition in the budget smartphone segment.