Top Tech Stock Picks of Quantitative Fund Winton Capital

#3 Apple Inc. (NASDAQ:AAPL)

Shares Owned by Winton Capital Group (as of September 30): 1.03 million shares

Value of Holding (as of September 30): $113.40 million

Winton Capital Group increased its position in Apple Inc. (NASDAQ:AAPL) by 79,289 shares during the third quarter, the stake accounting for 0.90% of its equity portfolio as of September 30. The world’s largest company by market capitalization has seen its shares advance by 5% since the beginning of the year despite facing serious worries about its strong reliance on iPhone sales. Earlier this week, Credit Suisse’s analyst Kulbinder Garcha voiced his concerns about the demand for the freshly-released iPhone 6s via a note to clients. “Apple has lowered its component orders by as much as 10 percent, according to our teams in Asia”, the analyst asserted. As a result, he anticipates that Apple will ship 222 million iPhones in the next calendar year, which is down from his previous estimate of 242 million (see more details). Clifford Fox’s Columbus Circle Investors owns 4.37 million shares in Apple Inc. (NASDAQ:AAPL) as of September 30.

#2 Seagate Technology PLC (NASDAQ:STX)

Shares Owned by Winton Capital Group (as of September 30): 3.60 million shares

Value of Holding (as of September 30): $108.40 million

Seagate Technology PLC (NASDAQ:STX) was the sixth-largest equity position of Winton Capital at the end of the September quarter. The British investment firm boosted its holdings in the data storage company by 741,417 shares or 38% during the latest quarter. The shares of the storage provider have declined 46% since the beginning of the year, mainly owing to the struggling PC market and toughening competition. The stock is currently trading for a trailing P/E ratio of 8.72, which is significantly lower than the ratio of the S&P 500. At the same time, the company’s strong balance sheet, its dominant position within its industry, and its luring dividend yield of 6.9% are several factors that might attract investor interest in the upcoming months. First Eagle Investment Management, founded by Jean-Marie Eveillard, held a 2.59 million-share position in Seagate Technology PLC (NASDAQ:STX) on September 30.

#1 Corning Incorporated (NYSE:GLW)

Shares Owned by Winton Capital Group (as of September 30): 9.47 million shares

Value of Holding (as of September 30): $162.08 million

Corning Incorporated (NYSE:GLW) was the largest equity holding of Winton Capital at the end of the September quarter. The investment firm enlarged its position in the glass maker by a whopping 4.42 million shares during the latest quarter, which accounted for 1.28% of the firm’s portfolio. Just recently, the company announced an accelerated share repurchase agreement, which is pursuant to the existing $2 billion share repurchase program authorized in July. As a result, Corning is set to purchase an additional $4 billion worth of shares. The company also expected to increase its dividend per common stock by at least 10% annually through 2019. It is not entirely clear whether Carl Icahn would criticize the company’s decision to buy back shares, but this step appears to be quite appropriate, considering that the company also committed itself to invest roughly $10 billion in growth opportunities to sustain its solid position within the industry it operates in. Richard S. Pzena’s Pzena Investment Management cut its position in Corning Incorporated (NYSE:GLW) by 2.89 million shares during the September quarter, remaining with 4.79 million shares.

Disclosure: None