Dimension Capital Management LLC recently decreased its stake in Apple (AAPL, Financial), as revealed by the company’s latest SEC filing. Additionally, Apple reported plans to increase its share buyback by $90 billion by the end of Q2 2024, a 9.6% rise from previous projections. Despite Dimension’s reduction, Apple remains a prominent holding within its portfolio. After selling 2,437 shares, Dimension now holds 23,001 shares of Apple, making up 1% of its total assets and ranking as the bank’s 23rd largest investment. Currently, the value of Dimension’s Apple holdings stands at approximately $4.85 million.
Other institutional investors have also made adjustments in their Apple positions. Access Investment Management LLC initiated a new Apple stock position valued at $140,000 in the first quarter. Meanwhile, Hoese & Co LLP increased its Apple holdings by 6.7% in the second quarter, now totaling 912 shares valued at $175,000. Other firms, including Coreside Capital Management LLC, Mainstay Capital Management LLC, and Great Lakes Advisory & Investments Inc., invested approximately $200,000 each in new Apple shares in Q2.
Apple remains popular among institutional investors, with hedge funds and similar entities holding nearly 60.4% of the company’s shares. This shift in asset management reflects both Apple’s annual performance and broader market conditions in 2024, underscoring the ongoing institutional support that drives Apple’s market presence as a tech leader.
This article first appeared on GuruFocus.
