Top 5 Stock Picks of Charles Paquelet’s Skylands Capital

2. Apple Inc. (NASDAQ:AAPL)

Skylands Capital’s Stake Value: $57.13 million
Percentage of Skylands Capital’s 13F Portfolio: 7.05%
Number of Hedge Fund Holders: 138

Multinational technology company Apple (NASDAQ:AAPL) reduced its iPad production by 50% in order to allocate more resources to filling iPhone 13 orders on November 2, a day after the company added to its worldwide lead in the tablet market.

By the end of the third quarter of 2021, Charles Paquelet’s Skylands Capital reported holding 403,750 shares in Apple Inc. (NASDAQ:AAPL), worth more than $57.13 million. These shares accounted for 7.05% of the investment firm’s portfolio value. According to our database, 138 hedge funds were long in Apple Inc. (NASDAQ:AAPL) in the second quarter of 2021, compared to 127 funds in the previous quarter.

On November 2, Morgan Stanley analyst Katy Huberty kept an Overweight rating and $164 price target on Apple Inc. (NASDAQ:AAPL) shares.

Out of the hedge funds being tracked by Insider Monkey, Warren Buffett’s Berkshire Hathaway is a leading shareholder in Apple Inc. (NASDAQ:AAPL), with over 887 million shares worth more than $121.5 billion.

In its Q1 2021 investor letter, Distillate Capital, an asset management firm, highlighted a few stocks and Apple Inc. (NASDAQ:AAPL) was one of them. Here is what the fund said:

“Apple is an even more notable situation and one that highlights our free cash valuation methodology and bears further discussion given its Q3 ‘20 sale from our strategy. For an extended period, Apple was extraordinarily inexpensive on a free cash flow basis and was the largest position in our strategy, exceeding 5% of the portfolio.”