DISH Network Corp (DISH), Amazon.com, Inc. (AMZN), Apple Inc. (AAPL): Jason Karp Continues to Outperform Other Managers

Karp took advantage of an October swoon in Avago Technologies Ltd (NASDAQ:AVGO)’s shares to open a new position of 645,000 shares in the company during the fourth quarter, clearly believing it had a big rebound in it despite already having appreciated by about 65% during the past calendar year, even factoring in the big October dip. He was certainly right, as Avago Technologies Ltd (NASDAQ:AVGO) has since leapt by another 75%, including by 26.61% during the first quarter. A key supplier to Apple Inc. (NASDAQ:AAPL), another of Karp’s top picks, Avago Technologies Ltd (NASDAQ:AVGO)’s business has made big strides since the middle of 2013, coinciding with Apple’s own turnaround and boisterous growth. Philippe Laffont’s Coatue Management has by far the largest position in Avago Technologies Ltd (NASDAQ:AVGO) of any fund in our database, of 8.53 million shares.

With that perfect seque we come toApple Inc. (NASDAQ:AAPL), a stock in which Karp doubled his long position in to 500,000 shares during the fourth quarter, valued at $55.19 million. At the same time however, he did open a position of put options underlying 300,000 shares as well, though likely as nothing more than a hedge against his other positions. This is not really surprising, as Apple Inc. (NASDAQ:AAPL) was one of the leading stocks in which funds in our database were buying protection against, which we determined was largely hedges and not bearish bets. One investor who is not concerning himself with protection from Apple is Carl Icahn, the extremely bullish activist shareholder of the company, who is pushing Apple to return some of its hoard of cash to investors and insists the stock will hit $200 eventually. Icahn has a $5.82 billion position in Apple Inc. (NASDAQ:AAPL), which was up by 13.17% during the first quarter.

Lastly, Karp reported a new 200,000 share position in Amazon.com, Inc. (NASDAQ:AMZN) in his latest 13F filing, which proved to be a very wise move. Amazon.com, Inc. (NASDAQ:AMZN) had a superb first quarter after a strong earnings report, gaining just under 20%. Amazon continues to research and develop drones for use as future package carriers, which could result in speedy and cheap deliveries to greatly enhance its gigantic online marketplace. Karp’s former boss at SAC, Steve Cohen, who now manages his family office Point72 Asset Management, is also an investor in Amazon.com, Inc. (NASDAQ:AMZN).

Disclosure: None