A $73.5 million investment in shares of Apple Inc. is now worth $207 million
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.
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By Tom MacIsaac, CEO, 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 (GE) NBCUniversal.
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Conglomerate invests money - and its considerable resources - in young energy firms.
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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).
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Intuit, maker of finance software, turns its attention to health-care bills.
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.
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The departure of outsized NBC chief Ben Silverman is the third time that the producer will team up with IAC's Diller.
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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 lots of attention on Silverman's outsized persona but little yet in terms of new MOREJul 27, 2009 3:39 PM ET
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