Apple is the only stock that matters for managers

When Apple stock rallies, its unprecedented market weight creates headaches for stock managers because, basically, they never own enough of it. That dynamic played out starkly once again in the third quarter.
Lu Wang for Bloomberg:Only 27% of large-cap mutual funds beat their benchmarks in the span, the poorest showing for any third quarter since Bank of America Corp. began tracking the data in 1991. While other factors contributed to the dismal performance, strategists including Savita Subraman