As Apple rose, funds dumped

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According to Whale Wisdom, 1,481 funds either reduced or closed their Apple position in calendar Q3 2018.


Here’s how Apple’s shares performed in calendar Q3:

funds dumped apple

Click to enlarge.

Here, from 10,000 feet, is what the funds did in calendar Q3 (from SEC Forms `13f): 

Click to enlarge. 

What have the funds been doing during this quarter’s Apple sell-off? We won’t find out until February 15, 2019, 45 days after the quarter’s end.

My take: These fund managers risk becoming a contrary indicator for Apple. More to come when I dig into the positions of individual funds.

CORRECTION: An earlier version of this story had a math error. 1,481 is the correct total for funds that reduced or closed their Apple position in Q3.