you have icahn getting out, tepper getting out, berkshire getting in and we just got news that leon cooperman is getting in. >> exactly. the buyers now, i think roger basically isolated the thesis here. it's not anybody who is claiming to have a great fundamental edge on exactly how many units are going to be sold or exactly what the trajectory of the next year or two will be for the business. it's about $45 billion or $50 billion in net income, give or take. it seems like a massive profit fool of a financially stable company and people are willing to say selling has gotten overdone. if you remember when carl icahn took his stake he had detailed projections about how many watches would be sold. >> how much stock the company should buy back. >> everything was very specific. it was easy to scoff at the idea the most widely followed stock in the world, people had overlooked this. now it's much more about big numbers and profitability. >> none of these guys has been any good at predicting not only the direction of apple, but why. looking at the stock, ever since 2012 which coincidentally is the y

leon cooperman did what somebody referred to me as simply a trade in apple during the first quarter, purchasing shares and essentially selling out of them after the end of the quarter. it's a relevant question. >> i appreciate it very much. sorry to put you on the spot. >> can i point something out? you are seeing for the first time in seven years on a quarterly basis net redemptions. just not something we have seen in this industry going back to basically the financial crisis. we don't know to what extent the sales of apple or anything else are related to just outright sales because money is being raised by investors. that's an important dimension. >> add to that these hedge funds have leverage. it's not just the online position is 100,000 shares. they borrowed against those as well. >> kate, were you listening to that? >> i was. i think they are on the an important theme. we have seen overall hedge fund assets on the decline, redemption levels for the first quarter at its lowest point since 2009. there is definitely a trend of dissatisfaction with hedge funds. more anecdotally we h

you're doing is deselecting the investment decisions of a dan loeb, have a dan cooperman -- a leon coopermanbalance. you want to look at percentage of daily trading volume and how much of it. when you've got 42% held by 34 hedge fund managers on an uncle of you stock that in their heart oncology -- on an stock that in their heart of hearts i know nothing about. scarlet: i wonder how much of this is due to the fact that a lot of these tech funds have gotten too big and now they are being pushed into a lot of the same names. fabio: you are also getting of the -- with a lot platforms, you're getting younger and younger managers, -- with less lexis experience who also tend to group at a higher level. when you look at the managers who do it because they believe in it, i don't think you have seen bill ackman do a me too tra de. lead dog.proverbial i love apple. month, he doesn't care. he doesn't care what the press thinks or what the world thinks. he does what he does. alix: the problem is you look at something like the pershing square, staunch defenders of valiant. but there were other hedge fund

leon cooperman of omega advisors, a seasoned stock picker with many winners over the years adding tohat's actually a new position. so that may be giving a lift to the stock potentially. we also saw of course this morning that warren buffett adding a new stake in apple to the tune of nearly 10 million shares, perhaps that's the bigger benefit to the stock of the two. one other note on omega, they actually paired down a google -- rather alphabet class a position to the tune of about 277,000 shares. so a different tech move, a different directional tech move there. and finally i would note david teper his filing out on friday but his firm sold about 1.25 million shares of apple dissolving his stake in the process. that's of course through the end of the first quarter, david. so things could have changed since then, but based on what we're seeing new omega stake, big new berkshire stake and very well could have an influence here. >> so it's buffett, cooperman versus icahn/teper, got it. >> right, the titans clash. >> absolutely. thank you. and apple is leading the dow right now. we're go