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Apple Inc. (AAPL) is one of the largest technology companies in the world and the first U.S. company to reach a market valuation of $1 trillion. As of April 2021, the company's market capitalization had grown to $2.25 trillion.

Here are the four largest mutual funds betting on Apple, Inc.

Top 4 Mutual Fund Holders of AAPL (as of Q1 2021)
Holder Shares % Out $ Value
Vanguard Total Stock Market Index Fund 431,222,114 2.57% 57,218,862,306
Vanguard 500 Index Fund 320,241,258 1.91% 42,492,812,524
SPDR S&P 500 ETF Trust 163,690,830 0.98% 19,994,834,884
Fidelity 500 Index Fund 144,727,522 0.86% 17,549,659,317
Source: Yahoo! Finance

The Vanguard Total Stock Market Index (VTSAX)

The Vanguard Total Stock Market Index Fund (VTSAX) is a one-stop shop for a wide range of small- and large-cap stocks. The fund seeks to capture returns on the entire stock market and thus holds more than 3,680 stocks. While the composition of VTSAX is not much different from that of S&P 500 ETFs, its investments in many small-cap stocks have kept it above others for several years.

About 25% of the fund's assets are invested in technology stocks, with Apple holding the top position as of the end of April 2021. The fund owns more than 431.2 million shares of Apple, amounting to 2.57% of the company's outstanding stock as of Q1 2021.

The fund's expense ratio is just 0.04%, well below the category average. The fund's three-year annualized return is 17.13%.

The Vanguard 500 Index Fund (VFIAX)

Another fund tracking the S&P 500, the Vanguard 500 Index Fund (VFIAX) gives weights to the stocks it invests in based on their positions in the S&P 500 index. With net assets of $220.5 billion as of April 2021, the fund's asset allocation skews in favor of information technology, healthcare, and consumer discretionary, forming 26.7%, 13%, and 12.5% of its portfolio, respectively. The fund holds about 320.2 million shares of Apple, just under 2% of the company, making it the second-largest mutual fund investor in Apple.

The expense ratio for VFINX is 0.04%. The fund has a three-year annualized return of 16.75% as of the end of Q1 2021.

The SPDR S&P 500 ETF (SPY)

The SPDR S&P 500 ETF (SPY), or "spider," was first listed in 1993 by State Street Global Advisors. The ETF's main function is to replicate the performance of the S&P 500 index. Each share of SPY owns a small portion of all 500 stocks in the S&P 500. SPY is bought and sold much like a stock, but instead of making a bet on one particular company, you're making a bet on the market as a whole. SPY is invested heavily in technology, with 34% of its holdings dedicated to the sector.

The fund holds 163.7 million shares, just under 1%, of all Apple stock as April 2021, making it the company's third-largest mutual fund holder. Apple shares are the ETF's top holding and account for around 6% of the fund's $355.5 billion portfolio. The expense ratio for SPY is 0.09%.

The Fidelity 500 Index Fund (FXAIX)

The Fidelity 500 Index Fund (FXAIX) is another S&P 500 index fund—and among the least expensive index mutual funds around—with an expense ratio of just 0.015% per year. The fund is also the fourth largest mutual fund holder of Apple shares as of the first quarter of 2021, owning more than 144.7 million of its shares. The fund manages around $308 billion in assets and has zero minimum investment, making it quite accessible to most investors.