12 Most Popular Technology Stocks Held By Hedge Funds

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 |  Includes: AAPL, BIDU, CSCO, EMC, GOOG, HPQ, INTC, MSFT, ORCL, QCOM, S, YHOO
by: Insider Monkey

Insider Monkey follows hedge fund managers because they're the smartest investors around. They leave less to chance than do most investors. They go to great lengths to get an “edge” over ordinary investors. Hedge fund managers also have the resources to do extensive research on public companies and they have access to experts who can guide them. We believe we are more likely to beat the market by imitating insiders and hedge funds than trading against them. Based on the transactions of nearly 350 hedge funds compiled by Insider Monkey, we present the list of top 12 technology stocks that are held by hedge funds at the end of June:

1. Apple Inc (NASDAQ:AAPL): A whopping 103 hedge funds had Apple in their portfolios at the end of last quarter. Hedge funds collectively own 3.3% of the outstanding shares. The stock returned 10.5% so far in 2011. Hedge fund stars like David Einhorn, John Griffin, and Chase Coleman all have AAPL in their portfolios. Dan Loeb sold his stake last quarter.

2. Microsoft Co (NASDAQ:MSFT): Ninety-one hedge funds had Microsoft in their portfolios last quarter. Hedge funds collectively own about 3% of the outstanding shares. The stock lost about 12.5% so far in 2011. Ken Fisher's Fisher Asset Management has $465 Million in MSFT. David Einhorn, who criticized Microsoft's Steve Ballmer in May, increased his stake in the company by 63% last quarter (read Einhorn’s entire speech about Microsoft here).

3. Google Inc. (NASDAQ:GOOG): Eighty-three hedge funds had Google in their portfolios last quarter. Hedge funds collectively own about 3.3% of the outstanding shares. The stock lost about 16% so far in 2011. Stephen Mandel's Lone Pine initiated a position in Google last quarter. Jim Simons' Renaissance Technologies boosted its stake by 182% in the second quarter (see billionaire Jim Simons' top stock picks).

4. Qualcomm Inc (NASDAQ:QCOM): Sixty-three hedge funds had Qualcomm in their portfolios last quarter. Hedge funds collectively own about 5% of the outstanding shares. The stock lost about 5.5% so far in 2011. Lee Ainslie's Maverick Capital has more of Qualcomm than any other hedge fund. Although he decreased his stake by a minor 5%, he still has $422 Million in the company.

5. Cisco (NASDAQ:CSCO): Fifty-six funds had Cisco in their portfolios last quarter. Hedge funds collectively own about 5% of the outstanding shares. The stock lost about 25% so far in 2011. Bill Miller's Legg Mason decreased its stake by 30%, and now has about $185 Million vested (check out Bill Miller's favorite stocks here).

6. Yahoo Inc. (NASDAQ:YHOO): Fifty-two hedge funds had Yahoo in their portfolios last quarter. Hedge funds collectively own about 11% of the outstanding shares. The stock lost about 23% so far in 2011. Richard Perry's Perry Capital boosted its stake by nearly 300% last quarter. It had $188 Million in Yahoo at the end of June.

7. Oracle (NYSE:ORCL): Forty-nine hedge funds had Oracle in their portfolios last quarter. Hedge funds collectively own about 2% of the outstanding shares. The stock lost about 19.5% so far in 2011. Ken Fisher increased his stake by just 1% last quarter. He still has more of Oracle than any other hedge fund. Fisher Asset Management had about $672 Million at the end of June (check out billionaire Fisher’s stock picks).

8. Baidu Inc. (NASDAQ:BIDU): Forty-seven hedge funds had Baidu in their portfolios last quarter. Hedge funds collectively own about 7% of the outstanding shares. The stock gained 30% so far in 2011. Ken Fisher again has more of BIDU than anyone else, at about $600 Million. Andreas Halvorsen has about half of that, with $300 Million.

9. EMC Corporation (NYSE:EMC): Forty-five hedge funds had EMC in their portfolios last quarter. Hedge funds collectively own about 5% of the outstanding shares. The stock lost about 10% so far in 2011. Hedge fund stars like Steven Cohen, Eric Mindich and Ken Heebner all have EMC in their portfolios (see Ken Heebner's latest stock picks).

10. Sprint (NYSE:S): Forty-two hedge funds had Sprint in their portfolios last quarter. Hedge funds collectively own about 8% of the outstanding shares. The stock lost about 23% so far in 2011. David Einhorn's Greenlight Capital has far and away the most of Sprint than any other fund we track. He has about $300 Million. The next highest amount, at $60 Million, goes to Kevin Ulrich's Anchorage Advisors.

11. Hewlett-Packard (NYSE:HPQ): Forty hedge funds had Hewlett-Packard in their portfolios last quarter. Hedge funds collectively own about 4% of the outstanding shares. The stock lost about 42% so far in 2011. John Paulson has nearly a Billion vested with the company - $855 Million, to be exact - as of the end of last quarter.

12. Intel (NASDAQ:INTC): Forty hedge funds had Microsoft in their portfolios last quarter. Hedge funds collectively own about 3% of the outstanding shares. The stock lost about 5% so far in 2011. Lansdowne Partners bet more than $1.2 Billion on Intel call options and stock as of the end of last quarter.

Disclosure: I am long MSFT.