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08-14-2013, 05:14 PM #1
Large Institutional Investors Set to Disclose Their Holdings in Apple by August 15
After Carl Icahn’s recent tweet disclosing a “large position” in Apple, it was noted this week all institutional investment managers face a deadline for reporting their holdings of securities worth at least $100 million. Icahn was reported by Bloomberg to now own a stake in Apple worth more than $1 billion, citing an unnamed “person with knowledge of the purchase” in saying that Icahn had “accumulated the position over the past month.”
The U.S. Securities and Exchange Commission requires large investors to report their significant holdings but only a month and a half after the quarter ends. The deadline for other major institutional investment managers and investment advisers to disclose their common stock holdings and put or call options (as of the end of the June quarter), is August 15, submitted as SEC Form 13F.
In the middle of February, a series of reports detailed institutional investors that had “dumped” Apple shares, even though many of the largest sellers continue to own a large amount of holdings. It was blamed that Apple’s drop on “investors worried about increasing competition and declining profit margins,” and, conversely, explained that “the shares also may have dropped because their price rose too much, too fast.” It was also cited at the time that analysts continued to say ‘three months from now, we’ll be seeing a lot of the people who sold starting to pick it up again.”
Now, three months later, there was another steady trickle of reports of institutional investors “dumping” shares in Apple, information culled from 13F regulatory filings. This info was presented without context or explanation of any kind by many sources and sometimes even framed as something worthy of concern. Vikas Shukla of ValueWalk recently wrote that Apple "continues to lose charm among shareholders," based on reports of its shares being "dumped" by several large mutual funds including "Fidenlity Contrafund" [sic]. Some are saying that the sell-offs by key investors is an issue that will cause trouble for Apple.
Shares of Apple have gone up more than 10% since the mid-May reports first appeared. We’ll have to wait and see how things end up going forward.
Source: Bloomberg, SEC, Reuters, ValueWalk via AppleInsider