Yukon Wealth Management Bets Big on Apple with $29 Billion Investment
Yukon Wealth Management Inc., an investment firm, has acquired a new position in Apple Inc. (NASDAQ:AAPL) stock. According to its most recent SEC filing, Yukon Wealth bought 101,516 shares of AAPL during the second quarter, valued at approximately $29,375,000.
This purchase represents about 8.4% of Yukon's portfolio, making Apple its third largest holding. Several other institutional investors also modified their holdings in AAPL during the same period, including Avenir Tech Ltd and Ascentis Wealth Management LLC.
As a group, institutional investors and hedge funds own about 67.73% of Apple's stock. In related news, SVP Jennifer Newstead sold 2,399 shares of AAPL on September 22nd for $815,803.94, reducing her ownership stake in the company by 5.13%.
Meanwhile, Apple's CEO John Ternus is reportedly considering a leaner organizational structure that could accelerate product launches and make the company more experimental. This move has been seen as a response to concerns about slower innovation at Apple.