A $73.5 million investment in shares of Apple Inc. is now worth $207 million
Photo © 2005 Derek Ramsey
Oil revenues from the Trans-Alaska Pipeline provided the capital for the Alaska Permanent Fund, a giant savings account created by the state's voters 1976 to make sure the legislature didn't spend the windfall all at once. But what's fueled the fund's growth in recent years -- and helped it hit a record $40.1 billion this week -- are its investments in the stock market, especially in Apple (AAPL).
Of the fund's top 50 holdings, according to the quarterly report from the corporation that controls its investments, Apple is both its largest single investment and its best performer.
The fund's 617,154 shares of Apple, purchased for $73,516,624, are now worth $207,160,083 -- a 182% increase.
The fund's second- and third-best performers, IBM (IBM) and EMC (EMC) are up 78% and 66%, respectively. The fund's three worst performers over the same period: Cisco (CSCO), GE (GE) and Bank of America (BAC), down 17%, 19% and 37%, respectively.
On Oct. 6, the fund is scheduled to distribute its annual dividend of about $800 million to everybody who lived in Alaska over the past 12 months. The payout last year was $1,281 per person.
Via USA Today.
Daniel Ek, the CEO of the online music service Spotify, has ambitious plans for penetrating the U.S. market. Profitability, for now, isn't a concern.
Daniel Ek
FORTUNE -- One week after Spotify launched in the U.S., CEO and co-founder Daniel Ek discussed his company's rapid growth at Brainstorm Tech in Aspen, Colo.
The simple, legal "all-you-can-eat" music service has made waves in parts of Europe with a freemium model that lets users MORE
JP Mangalindan, Writer-Reporter - Jul 21, 2011 1:59 PM ET
One of the most innovative online music services to come along in years has finally hit the States. Here's why you should be excited. (Hint: no monthly listening cap for free U.S. users.)
FORTUNE -- Yes, America, Spotify is finally here.
After nearly two-and-a-half years of promises and speculation, the music streaming service opened up shop in the U.S earlier this morning and already promises to potentially transform the way U.S. listeners consume MORE
JP Mangalindan, Writer-Reporter - Jul 14, 2011 11:49 AM ET
Rovio has a blockbuster franchise just as notable for its flock of revenue streams as its wildly addictive game play.
FORTUNE -- You don't have to try very hard to spot Angry Birds in their natural habitat -- online -- because they are as ubiquitous as a Manhattan pigeon.
Since launching as an iPhone app in December 2009, the franchise has been downloaded 200 million times -- double the number reported just MORE
JP Mangalindan, Writer-Reporter - Jun 3, 2011 12:33 PM ET
While Intel chips power the servers that power the tablet and smartphone revolution, CEO Paul Otellini recognizes that's not enough.
Intel CEO Paul Otellini (r) with Apple CEO Steve Jobs. Image via Wikipedia
Despite all the hullabaloo over a post-PC era, Intel chief executive officer Paul Otellini remains bullish on the traditional personal computing market.
At the chipmaker's annual investor meeting held earlier this week in Santa Clara, Calif., Otellini said Intel MORE
Michal Lev-Ram, writer - May 18, 2011 3:40 PM ET
Despite losing ground to Apple and Android devices, calls for RIM's demise are premature. But the company has to make some changes to move ahead.
RIM Co-CEO Mike Lazaridis at the PlayBook unveiling
FORTUNE -- It's become pretty easy to take pot shots at RIM, the makers of the once iconic and still formidable BlackBerry. While consumer-oriented companies like Apple (AAPL) and Google (GOOG) experience high double-digit growth with smart phone MORE
JP Mangalindan, Writer-Reporter - Mar 29, 2011 1:04 PM ET
Google's record on Chrome browser security is impressive, and that is important.
Google (GOOG) today fixed the recent Adobe (ADBE) Flash Zero-day exploit in which a devious hacker could embed a malicious Flash file in an Excel document and if opened could compromise Windows-based computers. Microsoft says that Office 2010 users aren't vulnerable. Apple's (AAPL) Macintosh users are not vulnerable to this particular attack either, though others could be developed using this MORE
Seth Weintraub - Mar 21, 2011 12:59 PM ETWith a huge attendance boost this year, big businesses from GM to Microsoft continued the trend of coming to Austin to get in front of hip influencers.
By Elisabeth Long, contributor
A happy shopper at Apple's SXSW popup iPad 2 store in Austin
Now in its 15th year, the South by Southwest Interactive conference has taken off like the handle of the ubiquitous hockey-stick growth model that startups at the conference aspire MORE
Mar 16, 2011 12:15 PM ET
The innovative Google Ventures Law services site is getting advice from former top Apple lawyer, Dan Cooperman.
LawPivot is kind of a Quora-ish Q&A site for legal advice for startups and small businesses. Lawyers post profiles and answer questions online in their forums. Business owners can then find legal advice by asking LawPivot legal questions. Those questions are tagged and matched against a database of information gathered from the lawyers on the subject matter.
As MORE
Seth Weintraub - Mar 7, 2011 1:53 PM ET
ARM may be the only way for GoogleTV to get a foothold in the living room.
In November, Bloomberg issued a report saying that Samsung was going to be building GoogleTVs (GOOG), likely with Intel (INTC) chips.
That didn't make sense to me. Samsung was developing its own high power chips that are almost as fast as the standard Intel Atom processors that are inside GoogleTVs, except they are based on the ARM architecture and are extremely low MORE
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| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.95 | -0.16 | -1.97% |
| Intel Corp | 26.73 | -0.43 | -1.58% |
| Microsoft Corp | 31.27 | -0.17 | -0.54% |
| Ford Motor Co | 12.28 | -0.25 | -2.00% |
| General Electric Co | 19.39 | 0.17 | 0.88% |
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,938.67 | -27.02 | -0.21% |
| Nasdaq | 2,933.17 | -15.40 | -0.52% |
| S&P 500 | 1,357.66 | -4.55 | -0.33% |
| Treasuries | 2.00 | -0.04 | -1.96% |
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