One quarter after virtually every hedge fund loaded up on one or more of the six most influential tech stocks in the U.S stock market, Facebook, Apple, Amazon, Netflix and Google - a handful of stocks roughly responsible for half the market's YTD gains - the love affair with FAANG continued, albeit far less passionately, with quite a few cases of "buyer's remorse" emerging. According to an analysis by Reuters, closely-watched U.S. hedge fund managers were generally bearish on FAANGs in Q2, with eight prominent investors in aggregate cutting or liquidating 18 stakes in the companies, according to the latest 13-F dump. Among those who had chilled on the tech space, were Coatue Management, Omega Advisors, Third Point, Tiger Global Management, Appaloosa Management, Paulson & Co, Soros Fund Management and Greenlight Capital, who in aggregate slashed 16 stakes, sold two stakes, increased six stakes, opened two new stakes, and maintained two positions in the so-called FAANG stocks in the three months ended June 30. Some examples: Dan Loeb's Third Point increased its stake in GOOGL by 120,000 class A shares to 575,000 and increased its position in Facebook by 500,000 class A shares to 3.5 million as of June 30. On the other hand, Leon Cooperman's Omega Advisors took a more bearish stance overall and cut its stake in Facebook by 26,700 class A shares to 236,200. It also cut its stake in Netflix by 12,700 shares to 65,000 shares and trimmed its stake in Amazon by 8,900 shares to 10,500 shares. Omega kept its stake in Alphabet of 158,835 class A shares unchanged. Soros Fund Management sold its entire stake in Alphabet of 1,300 class A shares, cut its stake in Facebook Inc by 161,373 class A shares to 476,713, sold its entire stake in Netflix of 131,966 shares, but took a new stake in Amazon of 7,500 shares. Chase Coleman's Tiger Global - a pioneer in tech investing - cut its stake in Amazon by 110,120 shares to 1.2 million shares and trimmed its stake in Netflix by 52,600 shares to 376,400. Philippe Laffont’s Coatue Management trimmed its stake in Netflix by 17,909 shares to 3 million shares and cut its stake in Apple by 46,060 shares to 2.9 million shares. David Einhorn’s Greenlight Capital also cut its Apple position by 42,400 shares to 3.9 mln shares. John Paulson unimaginatively named hedge fund took a new stake of 12,300 shares in Apple. On the bullish side, most "balls to the wall" was David Tepper, whose Appaloosa Management increased its stake in Apple by 325,000 shares to 625,000, raised its Alphabet position by 110,000 shares to 585,000 - the fund's second largest position at roughly $531MM as of Q2 - and boosted its Facebook holdings by almost 450k shares to 2.356 million shares. However, Appaloosa's most bullish bet was a massive, 3.6 million new share position in Alibaba, equal to over $520MM as of June 30. As a reminder, in Q2 all of the FAANG stocks rose in the second quarter, with Alphabet surging the most, by 9.7% and Apple the least at just 0.3%. Judging by the move in the third quarter, in which all of the FAANG stocks have continued their ascent, with Netflix gaining the most at 14.5% and Alphabet the least at 1%, some of those who sold were likely dragged right back in. Below, courtesy of Bloomberg, is a breakdown of some key moves by marquee hedge funds during the second quarter: ADAGE CAPITAL Top new buys: BCR, EMR, CBS, LMT, NDSN, DXC, KGC, GDDY Top exits: OGE, JCI, EQT, MPC, SQM, RF, TMUS, LII, RBC, AGR Boosted stakes in HON, DOV, DHR, ABX, SPR, COF, CMCSA, GOOG, AERI, NOC Cut stakes in DE, DIS, CC, GD, ITW, TIF, BKH, JAZZ, AAPL, FOXA APPALOOSA MANAGEMENT Top new buys: BABA, DG, SYK, ETE, LB, WFC, CX Top exits: RF, PFE, MYL, TEVA, SYMC, CHTR, MT, UAL, GLBL, X Boosted stakes in MU, GOOG, WDC, FB, AAPL, URI, TMO, UNH, DAL Cut stakes in LUV, GM, AGN, KMI, WPZ, HCA, NUE, BSX, MHK, PNC BAUPOST GROUP Top new buys: CAR, SRUN, SRC Top exits: INVA, MCK, SYT, ABC Boosted stakes in SYF, AR, ESRX, QRVO, CAH, PRTK, FWP Cut stakes in CACC, LNG BERKSHIRE HATHAWAY Top new buys: SYF, STOR Top exits: GE Boosted stakes in BK, GM, AAPL Cut stakes in IBM, WFC, WBC, SIRI, UAL, AAL, DAL BLUE HARBOR Top new buys: INCR, AXTA, COMM, CLNS Top exits: AKAM Boosted stakes in OTEX, ADNT, SPY, FFIV, RDC Cut stakes in BWXT, AVT, AGCO, XLNX, LAZ, IWM BRIDGEWATER ASSOCIATES Top new buys: GLD, CHK Top exits: DIS, CVS, SPLS, MU, CTL, AET, X, DISH, JCP, WMT Boosted stakes in HYG, RL, NFX, SWN Cut stakes in ENDP, CLF, IPG, UPS, PBR, COP, BP, KORS, CVX, XOM COATUE MANAGEMENT Top new buys: SHOP, NOW, CRM, CGNX, ON Top exits: JPM, ZAYO, ILMN Boosted stakes in BABA, TWLO, ALGT, NTRI, CMCM Cut stakes in BAC, EBAY, DIS, APPL, NTNX CORVEX MANAGEMENT Top new buys: CTL, TWX, JBLU, FDX, SBNY, BTU, CFCO Top exits: YUM, YUMC, BLL, CRM, PX, CL, HUM, ETFC, JACK, PRXL Boosted stakes in EGN, SIG, GOOGL, BAC Cut stakes in BIO, MDCO, PAH, RF, FB, NOMD DUQUESNE FAMILY OFFICE Top new buys: BABA, MRK, NOW, YUMC, DAL, V, MA, SBAC, CCI Top exits: LYB, ABX, BAC, AA, AEM, PXD, COG, LNG, SYMC, TMUS Boosted stakes in FB, GOOGL, MSFT, AMZN, CMCSA, PCLN, JD, CTRP, PYPL, EA Cut stakes in PTC ELLIOTT MANAGEMENT Top new buys: NXPI, BTU, NORD, GIMO, WYN, ATHN, FMSA, ARCC Boosted stakes in ECA, MPC, AA, RYAAY, EGN, ACAD, GPI, SAH, ABG, NRG Cut stakes in LOGM, CJ FIDELITY MANAGEMENT Top new buys: EEX, YEXT, FPH, ATUS, NCSM Top exits: GCO, VR, SYT, NYRT, FCN Boosted stakes in PYPL, BABA, GOOGL, UNH, FB Cut stakes in APC, AAPL, CMG, TJX, NXPI GREENLIGHT CAPITAL Top new buys: HPE, TGNA, ADNT, TPX, CARS, NYRT Top exits: TWX, SYT, CI, IAC, ALR, TPH, FMC Boosted stakes in PRGO, MYL, DDS, MU, DSW Cut stakes in CC, PVH, FRED, QHC, AAPL, MON HIGHFIELDS CAPITAL MANAGEMENT Top new buys: HDS, FOXA, GS, KO, NVDA, DLTR, MCD, FE Top exits: CVS, SYT, MPC, IAC, KMI, YPF, BTE Boosted stakes in TWX, TEVA, TV, FDX, MON, WBA, VER, TGT, HCA Cut stakes in AMT, CCE, GOOG, TSLA, GOOGL, APO, VOD, ICE, NAK, HLT ICAHN ASSOCIATES Boosted stakes in IEP, FCX Cut stakes in PYPL, AIG, XRX JANA PARTNERS Top new buys: EQT, ZBH, P, FDC, MOH, CDK, PF, SFM Top exits: WLTW, AET, ADS, SHPG, BMY, WBMD, ACAD, SNAP, BMRN, GWPH Boosted stakes in WFM, HPE, HDS, NUVA, ZAYO, DERM Cut stakes in UHS, DOW, CAG, SHW, CRM, HAWK, TIF, LBRDK, CTSH, LADR LANSDOWNE PARTNERS Top new buys: PYPL, WDC, FSLR, HCC, VXX, CAFD, BTU, SWK, ENIC Top exits: WFC, SNAP, GE, NFLX, TGP, TGS, ALGN, TSLA, SPWR Boosted stakes in TSM, DAL, BAC, JPM, LB, C, HAS, CNQ, JCI, BABA Cut stakes in DIS, CMCSA, FB, NKE, IR, ETN, UTX, ADNT, HON, SYY LONE PINE CAPITAL Top new buys: MSFT, ORLY, MA, ICE, TRU, NOW, UNH, ATUS, AAP, CRM Top exits: NKE, EA, V, PCLN, DLTR, RICE, COMM, SHPG, ALGN, ECA Boosted stakes in BABA, Q, EXPE, CMCSA, FLT, FB, ANET, SNAP, TMUS, TV Cut stakes in CHTR, SYMC, CSX, ALB, ADBE, EQIX, ULTA, ATVI, STZ LONG POND CAPITAL Top new buys: DHI, SLG, VER, RF, BXP, HLT, LSI, ATH, FOR Top exits: ESS, GGP, REG, LEN, TPH, CZR, INXN, UDR, QCP, BK Boosted stakes in AIV, PGRE, SRC, WFC, RPAI, CLGX, TCO Cut stakes in EQR, MSG, LOW, FCE/A, MAC, LQ MARCATO CAPITAL Top new buys: NTCT, CFCO, RYAM Top exits: SIG, FC Boosted stakes in DECK, TEX, RCII, LQ, BWLD Cut stakes in AVT, BID, GT, ERI, TPHS, IAC MAVERICK CAPITAL Top new buys: TAP, DOW, MGM, QCOM, FIS, CHTR, V, ATUS, MIK Top exits: NWL, KHC, SBAC, FLT, MYL, CMCSA, NVDA, HSY, MELI, FFIV Boosted stakes in DLTR, EVHC, IPXL, WYNN, LVS, UHS, FB, SHPG, MCD, WTW Cut stakes in ADBE, PFE, COMM, AET, CI, USFD, VMC, WCN, ORLY, ANDV MELVIN CAPITAL Top new buys: GOOGL, WYN, QSR, YUM, FLT, TTWO, PANW, EDU, MHK Top exits: AAP, FOXA, FDX, DLTR, CALM, NTES, SKX, MAS, HDS, DFRG Boosted stakes in BABA, STZ, AMZN, V, ADBE, WYNN, KMX, LOW, AOBC, LAUR Cut stakes in MCD, FB, SHW, DE, COO, BURL, THO, RLGY, SUM, CASY MOORE CAPITAL Top new buys: MON, WMT, CDEV, AMT, SRUN, PVH, YNDX, QTS, SBAC Top exits: GS, MS, EXPE, CTRP, PCAR, SNAP, MCD, DLTR, CMG, WLK Boosted stakes in GOOGL, JD, UTX, MLCO, CRM, BURL, IT, VMC, CCL Cut stakes in MSFT, BAC, AAPL, ATH, HD, XLF, AER, BKD, PLYA, SYF OMEGA ADVISORS Top new buys: MXL, OCN, CVA, LB, TRN, ADSK, AAL, ETE, NCLH Top exits: WBA, TPH, WPZ, HUM, P, FL, IBKC, CLF, FGL, AA Boosted stakes in MSFT, SBGI, VVV, NBR, ZNGA, PVH, GIMO, FRAC, WPX, SYF Cut stakes in HRG, ASPS, ARRS, HES, LOW, BERY, AMZN, AIG, NRZ PERSHING SQUARE Top new buys: ADP Top exits: APD Boosted stakes in HHC Cut stakes in MDLZ POINT72 ASSET MANAGEMENT Top new buys: JNJ, IGT, PAGP, WMT, LMT, DHR, LLL, CAH, BKD, MSG Top exits: BDX, BCR, JCI, MEOH, CTSH, APA, COST, ESRX, FTI, GPC Boosted stakes in BIIB, GOOGL, CMCSA, TTWO, GOOG, EA, V, AMZN, OLN Cut stakes in FB, AAP, MCD, DIS, TWX, EOG, CLR, PK, ANDV, MYL POINTSTATE CAPITAL Top new buys: C, MGM, CCI, SBAC, BTU, DAL, ADBE, BA, TSRO, REGN Top exits: ECA, VIAB, FANG, PNC, PE, HON, CRM, URI, ALKS, OLN Boosted stakes in BABA, COG, AMZN, CMCSA, BAC, BMA, ETN, RICE, WMB, AGRO Cut stakes in DOW, LYB, WFC, STZ, TMUS, CSX, EA, CFG, VRTX, BIIB RENAISSANCE TECHNOLOGIES Top new buys: PFE, MCK, ADSK, AIG, WDAY, T, WFC, KHC, AXP, NKE Top exits: PCLN, TSLA, TEVA, AMD, CVS, MYL, REGN, TAP, ESRX, INFO Boosted stakes in BMY, DPZ, NVDA, EA, CL, LLY, GSK, GILD, SBUX, AMGN Cut stakes in CMCSA, FB, AET, MRK, PX, UNH, SHW, SIRI, INTC, NFLX RUANE CUNNIFF & GOLDFARB Top new buys: SPSC, APPF Top exits: PRGO, CHTR, AMG, MCD, NVO, GHC, CVS, MSFT, ACGL, JNJ Boosted stakes in OMC, PCLN, FCAU, GOOGL, V, CACC, WAT, GOOG, KMX Cut stakes in FAST, BIDU, ORLY, BRK/B, BRK/A, TJX, WUBA, PRI, CMG, COF SANDELL ASSET Top new buys: ALR, GNCMA, WFM, BCR, TWX, BABA, TIVO, PCRX, BKS Top exits: BOBE, WGL, CIT, VIAV Boosted stakes in MGI, NXPI, BRCD, LVLT SOROS FUND MANAGEMENT Top new buys: EQT, ATUS, GIS, K, PAGP, BCR, TRGP, CARS, NEP Top exits: AGRO, HPE, SYMC, CJ, SUPV, COP, GS, NFLX, VMW, CTXS Boosted stakes in VIAV, MMYT, KHC, EPC, BABA, NOMD, TWX, ATGE, TIVO, ALLT Cut stakes in LRCX, WMB, TMUS, CRC, FB, SBAC, TTWO, LBRDK, SNAP STARBOARD VALUE Top new buys: FCE/A, WBMD, ILG, SRC, PHG Top exits: TRCO, CL, MYCC, PNK Boosted stakes in HPE, FTNT, AAP Cut stakes in NSP, BCO, CTSH, BAX, ABCO, QTM TEMASEK Top new buys: NFX, GRA, AVGO, KREF, NETS, CELG, AMGN, BIIB, MON Top exits: SNAP Boosted stakes in RDS/B, REGN, ALXN, UNVR Cut stakes in GILD, ATH, AMRS, TMO, PTLA TIGER GLOBAL Top new buys: NETS, ATUS, JCP, OKTA, CLDR Top exits: NTES, MELI, ELF Boosted stakes in MSFT, TDG, APO, FLT, CMCSA, AWI Cut stakes in CHTR, FCAU, DPZ, GOOG, GOOGL, FB, QSR, NFLX, ONDK, AMZN THIRD POINT Top new buys: BLK, BABA, NXPI, VMC, ALXN, FMC, BMA, EQT Top exits: JPM, CRM, QCOM, ZAYO, RICE, CE, PXD, AA, NOMD, SNAP Boosted stakes in GOOGL, FB, BAC, ANTM, PE, RSPP, TWX, DHR, DOW, HPE Cut stakes in CHTR, SHW, HUM, MHK, STZ, HON, GD, BAX TRIAN FUND Boosted stakes in BK, PNR, PG, SYY, GE Cut stakes in MDLZ, WEN TUDOR INVESTMENT Top new buys: FB, TRCO, FICO, CACQ, DISH, PCLN, GOOG, DXC Top exits: SYT, BIVV, THS, BOBE, MBLY, CFG, CTAS, KEY, CB, MMC Boosted stakes in GOOGL, AMZN, SPY, BCR, LVLT, AKRX, IAC, SEE, UNP Cut stakes in DVA, ZBH, TSS, UNH, PCRX, FIS, BABA, NDAQ, EW, RTN VALUEACT Top new buys: KKR Boosted stakes in STX, AFI Cut stakes in MSFT, CBG, WLTW, BIVV, NTCT VIKING GLOBAL Top new buys: WFC, APC, AFL, BABA, TDG, MOH, RJF, FLT, NSC, LOW Top exits: GOOG, SCHW, JPM, ICE, BIIB, DIS, UTX, CNC, GPOR, WDC Boosted stakes in V, CRM, PH, JAZZ, LYB, NUVA, AVXS, XRAY, CALA, HDB Cut stakes in FB, DOW, WBA, JD, NFLX, GOOGL, MSFT, DE, AMZN, ECA Source: BBG