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.
Private "storefronts" let corporations outfit employees with homegrown business apps.
FORTUNE -- Want to develop a small-molecule-based drug? There's an app for that. But you won't find it in Apple's App Store -- it's available only through a private storefront run by biotech giant Genentech.
The company, based in South San Francisco, Calif., has created some 20 mobile apps for its employees -- and a dozen more are in the works. In MORE
Michal Lev-Ram, writer - Jun 28, 2011 5:00 AM ET
A round-up of the companies, deals, and trends that made headlines.
Every day, the Fortune staff spends hours poring over tech stories, posts, and reviews from all over the Web to keep tabs on the companies that matter. We've assembled the day's most newsworthy bits below.
Facebook CEO Mark Zuckerberg set the record straight about that potential "Facebook phone" during a MORE JP Mangalindan, Writer-Reporter - Sep 23, 2010 7:30 AM ET
Companies for years have toyed with light-emitting diodes, which use the same technology as computer chips. Now LEDs are having their day in the sun.
An assortment of new LED bulbs, including two models from Philips (top), Cree (bottom right), and Lemnis (bottom left), surround Philips's 60-watt replacement bulb, which hasn't hit the market yet.
The $100 billion global lighting industry is undergoing radical change: New office buildings and retail outlets MORE
Michael V. Copeland, Senior Writer - Jan 26, 2010 8:30 AM ET
Tech veteran Watkins talks about why he took the top job at LED maker Bridgelux.
A year after he was booted from the top spot at hard drive-maker Seagate (STX), Bill Watkins has taken on the CEO job at Sunnyvale, CA-based LED lighting company Bridgelux. Bridgelux makes LED (light emitting diode) chips and arrays for use in general lighting applications for everything from streetlights to warehouses.
"I always knew I would go MORE
Michael V. Copeland, Senior Writer - Jan 13, 2010 5:48 AM ET
Is the NBCU-Comcast deal really about a new business model for cable?
By Tom MacIsaac, CEO, ExtendMedia
MacIsaac predicts Comcast will use NBC to go over the top. Photo: ExtendMedia.
That cracking sound you hear is the walls of the clubby world of cable beginning to crumble. Everything in the media world -- especially the world of media distribution --has changed as a result of Comcast (CMCSA) taking control of GE's MORE
Dec 11, 2009 9:00 AM ET
Conglomerate invests money - and its considerable resources - in young energy firms.
By Marc Gunther, contributing editor
GE's Urquhart offers startups cash and connections. Photo: GE
When A123 Systems (AONE), a startup company that makes advanced lithium-ion batteries, had a successful initial public offering last month, one of the big winners was General Electric (GE).
That's because A123 Systems is by far the biggest holding of a venture capital fund run by MORE
Oct 15, 2009 8:00 AM ET
Intuit, maker of finance software, turns its attention to health-care bills.
Quicken hopes to make health benefits intuitive. Image: Intuit
If you have health coverage, perhaps you've received that ominous-looking piece of mail from the insurance provider that declares: "This is not a bill," but looks a lot like one.
It's called an "explanation of benefits." But the correspondence doesn't seem to offer much of an explanation to anyone who MORE
Jessica Shambora, Writer-Reporter - Aug 27, 2009 6:00 AM ET
The departure of outsized NBC chief Ben Silverman is the third time that the producer will team up with IAC's Diller.
By Richard Siklos, Editor at large
Silverman, shown at Fortune Brainstorm Tech, days before leaving NBC. Photo: Robin Twomey
Ben Silverman's departure from NBC this morning comes as no huge surprise: he was an out-of-the-box choice to head programming at major broadcast network and his two-year-plus tenure was marked by MORE
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| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.95 | -0.16 | -1.97% |
| 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% |
| Citigroup Inc | 32.36 | -1.00 | -3.00% |
| 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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