Portland Firm Invests Heavily in Apple Stock Amid Strong Demand
Portland Investment Counsel Inc., a firm that manages investment portfolios for clients, has made a new $2.18 million investment in Apple Inc. (NASDAQ:AAPL) shares. The company disclosed this information in its latest Form 13F filing with the Securities and Exchange Commission.
The purchase consisted of 7,535 shares valued at approximately $2,180,000. This represents about 0.6% of Portland Investment Counsel Inc.'s investment portfolio, making Apple its 22nd largest position among all holdings.
This is not an isolated incident; several other hedge funds have also recently bought or increased their stakes in Apple shares. Longfellow Investment Management Co. LLC purchased a new position in the second quarter valued at $30,000, while Ascentis Wealth Management LLC grew its stake by 822.7% during the same period.
According to MarketBeat data, hedge funds and other institutional investors own approximately 67.73% of Apple's stock.