Apple, the world’s most valuable company, is now also the most unloved stock among active fund managers — at least relative to its size.

That’s according to a note from quant analysts at UBS, the Swiss bank. They regularly analyse the holdings of over 37,000 mutual funds to find the most “underweight” and “overweight” stocks — the ones fund managers are most like to own less of, or more of, than the stock’s position in the index would suggest.