Hedge Funds Keeping Their Eyes on Apple

April 24, 2013 James Heinsman Hedge Fund News

No matter what their hedge fund strategies may be, many top funds in the hedge fund industry are anxiously awaiting Apple Inc’s announcement concerning second quarter earnings for 2013, which is scheduled to be made today.

Most affected by Apple’s successes and/or failures are those hedge funds with the largest exposure to the high-tech company’s shares. Among the ten largest owners of Apple are some of the largest and most successful of the hedge fund industry. A few of these include:

•    D.E. Shaw: This hedge fund, which bears the name of its owner, founder and manager, owns over 1.5 million shares of Apple worth about $620 million, making up about 2 percent of Shaw’s equity portfolio.

•    Adage Capital Management: Co-managed by Phill Gross and Robert Atchinson, Adage owns more than 1.3 million shares with a current market value of about $533 million, representing 2.6 percent of Adage’s equity portfolio.

•    Greenlight Capital: David Einhorn has taken a more bold position in terms of hedge fund risk with a large Apple exposure of almost 11 percent of his equity portfolio. Einhorn’s Greenlight owns a bit over 1.3 million shares with an approximate value of $523 million.

For those entrenched in the hedge fund industry, Apple’s announcement later today will carry a great significance, and could determine the direction which Apple’s stock will be heading in the near, and not so near, future.

Adage Capital Management, Apple Inc., D.E. Shaw, David Einhorn, Greenlight Capital,

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