And here is a look at how PKW has performed against its top three holdings, which combine for just over 14% of the fund’s weight, and Apple (NasdaqGM: AAPL). Apple is in the midst of one of the largest buyback plans in U.S. history and Carl Icahn is pushing for more. The stock is not yet a member of the NASDAQ US Buyback Achievers Index, but Apple is on the path toward meeting the index’s standards for entry. The point is stock-picking among companies that announced buybacks, broadly speaking, has worked this year. But PKW has this year and has in the past outpaced many of its holdings, confirming that stock-picking among share repurchasers is a strategy that could easily lag PKW and the NASDAQ US Buyback Achievers Index.
