Chet Needelman founded the Needelman Asset Management Inc in 2002 and it has a current portfolio value of $31.18 million, according to their recent SEC 13F filing. Healthcare and finance are the major investment areas of the fund and its primary stock holdings include Apple Inc. (NASDAQ:AAPL), Bank of America Corp (NYSE:BAC), Johnson & Johnson (NYSE:JNJ).
Apple Inc. (NASDAQ:AAPL) is the primary holding of Needelman Asset Management Inc with investments worth $1.33 million and 13,271 shares of the company. Apple Inc. (NASDAQ:AAPL) had net revenues of $37.4 billion along with $7.7 billion in net profit during the third quarter 2014. The company was able to improve its gross margins from 36.9 percent in the same quarter last year to 39.4%. Some of the primary investors of the Apple Inc. (NASDAQ:AAPL) include Icahn Capital LP investing $4.9 billion in the company followed by Soroban Capital partners ($2.4 billion) and Citadel Investment Group ($1.6 billion).
Bank of America Corp (NYSE:BAC) is the second largest holding of Needelman Asset management which owns 75,751 shares of the company with current market value of $1.29 million. Bank of America Corp (NYSE:BAC) reported net revenue of $22.0 billion for the second quarter 2014 with net income of $2.3 billion or 19 cents per diluted share. Fairholme (Fairx) is the largest investor of Bank of America Corp (NYSE:BAC) investing $1.51 billion in the company followed by Fisher Asset Management ($649 million) and Pzena Investment Management ($483 million).
Needelman Asset Management Inc has its third largest stakes in Johnson & Johnson (NYSE:JNJ) with 11,495 shares with market value of $1.22 million. The net sales for the second quarter 2014 were $19.5 billion with net earnings of $4.3 billion for Johnson & Johnson (NYSE:JNJ). Fisher Asset Management has the largest share in Johnson & Johnson (NYSE:JNJ) with $1.09 billion investment followed by Yacktman Asset Management $946 million and Aqr Capital Management ($381 million).
This article has been written by Prakash Pandey and edited by Serkan Unal.