Apple shares are one reason hedge funds lag mutual funds in 2016NEW YORK (Reuters) - Hedge funds may have taken too big a bite of Apple Inc (AAPL.O).  Shares of the iPhone maker are one of the biggest bets among hedge funds, with 47 of them listing Apple among their ten largest holdings as of the end of 2015, according to a report from Goldman Sachs on March 18. At the same time, mutual funds are going the opposite direction: Apple is their second-largest underweight holding, meaning the funds invest less of their portfolio in the company than its percentage weighting in the benchmark S&P 500 index. The difference of opinion on Apple, with shares flat year to date, is one reason hedge funds are again lagging. The average hedge fund was down 3.3 percent through February, while the average large-cap core mutual fund fell just 0.8 percent, according to data from fund tracker Morningstar.  Mutual funds, meanwhile, have benefited from being overweight in Facebook Inc (FB.O), CVS Health Corp (CVS.N), and Cisco Systems Inc (CSCO.O), according to Goldman.  Mutual fund managers believe Apple no longer enjoys the outsized prospects it had in the past. “We’ve done very well with this company for a long time but it’s so large now that it’s becoming impossible for it to move the needle meaningfully” in terms of revenue growth or profits, said one fund manager from a well-known firm. The manager, who did not want to be identified because he was not authorized to speak publicly, sold all of his shares in the company.  Shares of Apple fell 6.5 percent on Jan. 27, the day after the company reported its slowest-ever rise in iPhone shipments and forecast quarterly sales declining for the first time in 13 years. The stock dipped 0.7 percent to $105.32 on Thursday.   With the higher concentration of hedge funds owning the stock, Apple should brace for more activist calls to raise its dividend, offer more share buybacks, or acquire more companies to increase short-term returns, said Todd Rosenbluth, director of mutual fund research at S&P Capital IQ. “Your typical mutual fund manager is going to have more patience than your typical hedge fund manager, who if they have a sizeable stake are going to push for structural or corporate changes to enhance shareholder value,” he said.  Hedge fund Bridgewater Associates increased its stake in Apple by 19 percent during the fourth quarter of 2015, while Tiger Global Management initiated a position, buying 10.6 million shares in the same period, according to SEC filings. At the same time, well-known activists such as Carl Icahn and David Einhorn have trimmed their positions..  Hedge fund manager Morris Mark, whose firm Mark Asset Management oversees $500 million in assets, said he is maintaining a large position in Apple, even as the shares flat line. He sees the iPhone as the gateway into new home-based products.  “They’re going to come out with more services layered on top of this incredible franchise, and you are going to see their entire ecosystem grow,” he said. politicsNews
apple shares one reason hedge funds lag mutual funds york reuters hedge funds may taken big bite apple inc shares iphone maker one biggest bets among hedge funds listing apple among ten largest holdings end according report goldman sachs march at time mutual funds going opposite direction apple underweight holding meaning funds invest less portfolio company percentage weighting benchmark s p index the difference opinion apple shares flat year date one reason hedge funds lagging the average hedge fund percent february average core mutual fund fell percent according data fund tracker morningstar mutual funds meanwhile benefited overweight facebook inc cvs health corp cisco systems inc according goldman mutual fund managers believe apple longer enjoys outside prospects past we done well company long time large becoming impossible move needle meaningfully terms revenue growth profits said one fund manager firm the manager want identified authorized speak publicly sold shares company shares apple fell percent day company reported rise iphone shipments forecast quarterly sales declining first time years the stock dipped percent thursday with higher concentration hedge funds owning stock apple brace activist calls raise dividend offer share buybacks acquire companies increase returns said todd rosenbluth director mutual fund research s p capital iq your typical mutual fund manager going patience typical hedge fund manager sizeable stake going push structural corporate changes enhance shareholder value said hedge fund bridgewater associates increased stake apple percent fourth quarter tiger global management initiated position buying million shares period according sec filings at time activists carl can david einhorn trimmed positions hedge fund manager morris mark whose firm mark asset management oversees million assets said maintaining large position apple even shares flat line he sees iphone gateway new products they going come services layered top incredible franchise going see entire ecosystem grow said politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Apple shares are one reason hedge funds lag mutual funds in 2016NEW YORK (Reuters) - Hedge funds may have taken too big a bite of Apple Inc (AAPL.O).  Shares of the iPhone maker are one of the biggest bets among hedge funds, with 47 of them listing Apple among their ten largest holdings as of the end of 2015, according to a report from Goldman Sachs on March 18. At the same time, mutual funds are going the opposite direction: Apple is their second-largest underweight holding, meaning the funds invest less of their portfolio in the company than its percentage weighting in the benchmark S&P 500 index. The difference of opinion on Apple, with shares flat year to date, is one reason hedge funds are again lagging. The average hedge fund was down 3.3 percent through February, while the average large-cap core mutual fund fell just 0.8 percent, according to data from fund tracker Morningstar.  Mutual funds, meanwhile, have benefited from being overweight in Facebook Inc (FB.O), CVS Health Corp (CVS.N), and Cisco Systems Inc (CSCO.O), according to Goldman.  Mutual fund managers believe Apple no longer enjoys the outsized prospects it had in the past. “We’ve done very well with this company for a long time but it’s so large now that it’s becoming impossible for it to move the needle meaningfully” in terms of revenue growth or profits, said one fund manager from a well-known firm. The manager, who did not want to be identified because he was not authorized to speak publicly, sold all of his shares in the company.  Shares of Apple fell 6.5 percent on Jan. 27, the day after the company reported its slowest-ever rise in iPhone shipments and forecast quarterly sales declining for the first time in 13 years. The stock dipped 0.7 percent to $105.32 on Thursday.   With the higher concentration of hedge funds owning the stock, Apple should brace for more activist calls to raise its dividend, offer more share buybacks, or acquire more companies to increase short-term returns, said Todd Rosenbluth, director of mutual fund research at S&P Capital IQ. “Your typical mutual fund manager is going to have more patience than your typical hedge fund manager, who if they have a sizeable stake are going to push for structural or corporate changes to enhance shareholder value,” he said.  Hedge fund Bridgewater Associates increased its stake in Apple by 19 percent during the fourth quarter of 2015, while Tiger Global Management initiated a position, buying 10.6 million shares in the same period, according to SEC filings. At the same time, well-known activists such as Carl Icahn and David Einhorn have trimmed their positions..  Hedge fund manager Morris Mark, whose firm Mark Asset Management oversees $500 million in assets, said he is maintaining a large position in Apple, even as the shares flat line. He sees the iPhone as the gateway into new home-based products.  “They’re going to come out with more services layered on top of this incredible franchise, and you are going to see their entire ecosystem grow,” he said. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: apple shares one reason hedge funds lag mutual funds york reuters hedge funds may taken big bite apple inc shares iphone maker one biggest bets among hedge funds listing apple among ten largest holdings end according report goldman sachs march at time mutual funds going opposite direction apple underweight holding meaning funds invest less portfolio company percentage weighting benchmark s p index the difference opinion apple shares flat year date one reason hedge funds lagging the average hedge fund percent february average core mutual fund fell percent according data fund tracker morningstar mutual funds meanwhile benefited overweight facebook inc cvs health corp cisco systems inc according goldman mutual fund managers believe apple longer enjoys outside prospects past we done well company long time large becoming impossible move needle meaningfully terms revenue growth profits said one fund manager firm the manager want identified authorized speak publicly sold shares company shares apple fell percent day company reported rise iphone shipments forecast quarterly sales declining first time years the stock dipped percent thursday with higher concentration hedge funds owning stock apple brace activist calls raise dividend offer share buybacks acquire companies increase returns said todd rosenbluth director mutual fund research s p capital iq your typical mutual fund manager going patience typical hedge fund manager sizeable stake going push structural corporate changes enhance shareholder value said hedge fund bridgewater associates increased stake apple percent fourth quarter tiger global management initiated position buying million shares period according sec filings at time activists carl can david einhorn trimmed positions hedge fund manager morris mark whose firm mark asset management oversees million assets said maintaining large position apple even shares flat line he sees iphone gateway new products they going come services layered top incredible franchise going see entire ecosystem grow said politicsnews