Hedge Funds Are Dumping Facebook and Google - Bloomberg

On a related note, see Berkshire Hathaway doubles down on Apple stock and dumps IBM (CNBC)

"Other big names also expect that the two tech darlings have more room to run. Louis Bacon’s Moore Capital Management added 900,000 shares of Apple, boosting its holding to about $200 million, according to filings. Chase Coleman’s Tiger Global Management pumped up its position in Facebook.

Stephen Mandel’s Lone Pine Capital added a $900 million wager on Amazon snapping up 770,000 shares in the fourth quarter of 2017. The online retailer accounts for nearly 5 percent of the hedge fund’s U.S. stock holdings. The hedge fund firm also started a $625 million stake in Alphabet, buying up about 598,000 shares in the fourth quarter. Meanwhile, it reduced its Facebook position, selling about 632,000 shares of the company.

Some prominent hedge funds retreated from the FAANGs in the fourth quarter." 

Hedge Funds Are Dumping Facebook and Google - Bloomberg