|Apple (AAPL)'s stock, once the most widely held stock among hedge funds, is again gaining favor with many of the top hedge fund managers. As reported by Forbes, such hedge fund luminaries as Robert Citrone (Discovery Capital Management) and Phillippe Laffont (Coatue Management) have increased their stakes in Apple substantially this year, making it the largest positions in their portfolios. |
The purchases came in the second quarter following Apple’s first quarter plunge. Apple shares went on to gain 22 percent between March and June. Long-time Apple enthusiast, Carl Icahn also added $500 million in Apple shares to his $5 billion position and David Einhorn of Greenlight Capital continues to maintain Apple as his largest holding.