Apple continues to lose ground to Google on multiple fronts, the latest of which pertains to U.S. mutual fund holding.
According to a new Citigroup report, shares of the internet search giant have passed Apple to become the most-owned stock by the 50 largest actively managed mutual funds in the U.S.
Information compiled by Bloomberg shows that Google shares are now trading at roughly 25 times the company’s profits, compared to less than 10 times earnings for Apple.
This is the widest gap observed between Google and Apple since June 2005.
Among hedge funds, Google was also the top holding, according to the report, which examined investments at the end of the fourth quarter for the largest funds by asset size.
As of Friday afternoon, shares of AAPL were trading just south $432, while GOOG is trading just north of $830.