5 Stocks US Politicians Are Buying

2. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 134

Apple Inc. (NASDAQ:AAPL) is a California-based tech giant. On March 24, US politician Ronald Wyden revealed a purchase of the stock worth worth somewhere between $50,000 and $100,000. The transaction in this regard took place more than three weeks ago. 

Apple Inc. (NASDAQ:AAPL) has attracted the interest of elite hedge funds in the past few months. At the end of the fourth quarter of 2021, 134 hedge funds in the database of Insider Monkey held stakes worth $186 billion in Apple Inc. (NASDAQ:AAPL), compared to 120 in the previous quarter worth $146 billion. 

In its Q1 2021 investor letter, Distillate Capital, an asset management firm, highlighted a few stocks and Apple Inc. (NASDAQ:AAPL) was one of them. Here is what the fund said:

“Apple is an even more notable situation and one that highlights our free cash valuation methodology and bears further discussion given its Q3 ‘20 sale from our strategy. For an extended period, Apple was extraordinarily inexpensive on a free cash flow basis and was the largest position in our strategy, exceeding 5% of the portfolio.”