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Hedge Funds Break Up With Long-Adored Apple and Facebook Shares

By Tony Seruga

Investments in the two FAANG firms declined in second quarter
Investors pushing up Blue Apron shares should look at Snap

Hedge funds have adored the FAANGs for so long it’s no wonder that two of them — Apple Inc. and Facebook Inc. — are losing their appeal.

Ken Griffin’s Citadel sold 3.4 million shares of Apple, the majority of its stake. And Viking Global Investors, led by Andreas Halvorsen, shed 9.6 million shares of Facebook, or most of its holding. These are just two tidbits from the fire-hose of data hedge fund managers disclosed Monday in 13F filings, due 45 days after the end of each quarter…

Hedge Funds Break Up With Long-Adored Apple and Facebook Shares

Categories : Hedge Funds

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