Hedge fund Greenlight Capital loaded up on shares of $AAPL when the stock was plummeting in the 4th quarter of 2012, increasing it stake from 1.1 million shares to 1.3 million shares. In addition, the fund, run by David Einhorn, has some 275,000 call options on the stock.
Dow Jones spotted the activity in documents filed with the SEC on Thursday.
Greenlight Capital and David Einhorn have been long on $AAPL since 2010, and the hedge fund billionaire has remained quite bullish on Apple even while the stock dropped some 30 percent since its all-time closing high of $702.10 set on September 19th.
The firm has made headlines in the last 10 days for suing Apple over a management-backed shareholder proposal that would eliminate the company's ability to issued preferred shares without shareholder approval.
David Einhorn sees the move as supplying an unnecessary hurdle in issuing a preferred stock, which he believes is the best way for Apple to begin returning more of its vast profits to shareholders. Apple CEO Tim Cook told Goldman Sachs analyst Bill Shope on Tuesday that the lawsuit was a silly sideshow.
$AAPL ended Thursday at $466.59, down $0.420 (-0.09 percent), on light volume of of 12.7 million shares trading hands. That makes Greenlight's stake worth a cool $606.6 million, not counting the calls.
That's roughly 8.9 percent of the entire fund's worth of $6.8 billion.
*In the interest of full disclosure, the author holds a tiny, almost insignificant share in AAPL stock that was not an influence in the creation of this article.