Abandon Apple Ship? Ken Heebner Dumps Almost Entire Apple Stake

Tyler Durden's picture

Is the game theory defection dump of the world's biggest hedge fund hotel starting? In a just released 13F filing, Ken Heebner's Capital Growth Management has disclosed that he has reduced his holdings in Apple almost to zero. After holding 1.15 million AAPL shares as of June 30 (which made him holder #100 in the name sorted by size), Ken Heebner who is a regular guest on CNBC courtesy of his bullish tendencies, sold virtually his entire stake, leaving him with just 111,000 shares. One can only speculate about the causes, although it is notable that the last time Heebner did a comparable dump was in late 2008, when after the Lehman bankruptcy he liquidated half his million share stake. Is Heebner sensing something comparable to what happened in late 2008 on the horizon? Or was he satisfying margin calls? Or, most innocently, did he just sell what is probably his most profitable position, "just because" - inquiring minds want to know. We will keep an eye out on who else dumped Apple as the barrage of Q3 13F issuance begins today and ends on Monday.

Source: CapIQ

h/t Brian

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Papa Legba's picture

You know how they do that?

They put good software on there that helps people get things done.

detournement's picture


 Aapl make really good advertisings on 'tv' ?

plocequ1's picture

I know its made in China, But its "Designed by Apple in California". Thats what it says on the folder that contains my Apple stickers. . Actually Jony Ive sounds Australian.


detournement's picture

can i have your extra stickers for my Hyundai?

Ted K's picture

But if something goes wrong on your Hyundai, Steve Jobs will fire a head engineer and say he had nothing to do with the decision to put a bad antenna on your car.

ATG's picture

This is the biggest co ( some days) by market capitalization in America

XOM = $357 B

AAPL = $285 B

OpenEyes's picture

Mish's blog just came back up.

SheepDog-One's picture

Well I sure am glad 'the consumer' is more confident! Means exactly SHIT when the bankrupt unemployed 'consumer' will soon not be consuming $20 loaves of bread and $7 gasoline! 

Party on Ben and Timmah ya fuktards!

Cone of Uncertainty's picture

This is such bullshit.

Can't you idiots see this was just a fat finger filing?

InsanePonziClown's picture

lol, hebner is a squid king, he has tentacles everywhere, he's a growth at reasonable price guy, if prices ain't reasonable for him, well.................he knew what csco would do long before it was released


simon says's picture

TD, Did POMO go off?  Market  is acting like POMO funds not deployed yet.  Or is EU assurance of Irish problem wearing out?  All assets (stocks, PMs, UST)are tanking which suggests a forced/coordinated takedown.  Bet you a nickel the PDs are buying up all classes right now and JPM is happily covering silver shorts.  What a joke.

mjfleuet's picture

Wondering if the POMO money is shorting the market -- pretty amazing results for a 7.5B POMO day.

HarryWanger's picture

Lot of time left today. You know how this works - they come in on the dips and run it into the close. 

Quantum Nucleonics's picture

I sold the rest of my Apple last week too.  My cost basis was under $20.  Thanks to all the folks that have run the price up for me this year.

SheepDog-One's picture

And net result from todays 3 Stooges FED/Treasury antics...no one will EVER re-enter the markets again! R.I.P. US markets, job well done youve successfully destroyed everything, stooges. So now what? Straight into WW3?

redpill's picture

This is outrageous, I demand that selling be outlawed immediately!

SheepDog-One's picture

I like seeing that, riot cops begging the pissed off peasantry to please stop rioting for a while! Never hear mention of the massive Europe riots in our lame pathetic US news.

Die Weiße Rose's picture

Apple  P/e 21 :

Oversexed, overpriced and made in China

at our local suicide launch pad by quality slaves labour

for only 6.63650 Renminbi ( 1 dollar per day )


Dr. Copper's picture



CGMFX lost 66% in 2008 and has barely come back.  I think perhaps you put too much stock in Ken Heebner's ability to both forecast and side step a bear market...

Tsunami Effect's picture

Let's face reality.  This market is set up to crash.

And it is always driven by excess leverage, a change in the rules and a sudden change in where leverage flows.  Now from the markets to the FED. More signs...

China tightening, Europe neutral, US QE

VIX swing 22-18-21 in one week

Massive leverage in commodities crushed by margin in silver. Selling of liquid assets to meet margin in commodities... more margin tightening must be coming

Insider selling avalanche

Fed's magic bullet is spent.  They have to think of another "tool"

Europe PIIGS default may happen soon.  That story line is just like Lehman.

Finally, don't forget Bernanke is a LIFELONG academic 35 years in the ivory tower.  He is clueless about what ACTUAL consumer inflation (incl. food energy) is doing to buying power and confidence.  He screwed up bigtime after Bear by DRAINING LIQUIDITY through POMO SALES and at the same time cutting rates!  There was no need to do QE2 and PD's are SHORTING the trade now IMHO (remember GS recommended to frontrun POMO a couple weeks ago). 

SheepDog-One's picture

I think thats a good conclusion on it all.

MsCreant's picture

Tin Hat on and engaged: Some rare earth deal went sour and the insiders know it.

redpill's picture

Yep, China is barring imports of Bernankium.

cougar_w's picture

Cannot process the Bernankium without some Defaultium. Regarding which there is currently a shortage. However I understand that there may have been a big find of Defaultium deposits in Euro-land, so the market will straighten itself out shortly.

hedgeless_horseman's picture

Defaultium reacts with Heidelburgium Pressite to form Marsium, no?

cougar_w's picture

True. But the resulting economy is too fragile to actually use for anything, and there's a lot of smoke and heat produced, and sometimes it blows up completely. Almost nobody goes that route anymore.

HarryWanger's picture

Looking like there are plenty of folks lining up to buy those shares he dumped. 

Die Weiße Rose's picture

Ever since  Napoleon Bonaparte came across our German borders in 1799 to force himself upon us crowning himself " Emperor of our holy Roman Empire " after his failed social experiment of that ridiculous French Revolution, ever since then, us Germans rebel against anything that reminds us only remotely of Napoleon.

German People are mostly Royalists and we want our Empire back.

until then the EU will have to do ~


pitz's picture

You can buy a whole computer including LCD display for $500.  Why would an iPad/iPhone go for double that? 

cougar_w's picture

You know you want one.

robertocarlos's picture

No way! I dropped my Blackberry in a public toilet and now I have an IPhone.

robertocarlos's picture

DELL had there chance with me. I can only be fooled once.

prophet's picture

Front runners don't like to be front run and will arb out any attempt to capture their advantage rather than let someone else profit from it.


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