Recent purchases of hedge funds: Facebook, Netflix

Despite strong declines in the technology sector in Q3, US hedge funds are still gaining ground on Facebook and Netflix.

Chase Coleman and David Tepper are some of the executives who increased their share of Facebook in the period when the social media giant dropped 8%. Netflix is ​​also a favorite of many executives like Lee Ainslie's Maverick Capital and DAn Sundheim's D1 Capital Partners. The company fell by 27% within 3 months.

The hedge fund managers who have long preferred FAANG stocks had to navigate some pretty rough waters. Amazon also fell by 8%, but Google and Apple went up by more than 13%. At the same time, the S & P500 rose 1.2% after central banks occupied dovish positions and tensions between the US and China de-escalated.

The aforementioned moves also included Harvard University, adding 2 million Facebook shares to its portfolio. Thus, the total position swelled to $ 400 million by September 30.

Stan Druckenmiller divested all its holdings in Uber Technologies, selling 2.5 million shares. His Duquesne Family Office has taken positions at Shopify.

Berkshire Hathaway announces new acquisition of common stock in Occidental Petroleum. The Buffett Fund has also taken positions in RH. Buffett, on the other hand, has reduced its stakes in Apple, Wells Fargo and Philips 66.

Viking Global sold its $ 1.2 billion stake in UnitedHealth.

Maverick has sold 690,000 shares in Humana.

Microsoft Corp remained one of the less popular Q2 companies. Tiger cubs Viking, Coatue Management and Maverick have reduced their stakes in the tech giant, followed by Duquesne. However, given their decision, the company's shares rose 3% over the period and one of the top performing companies for the year with an average growth of 46%.

Source: Bloomberg Finance L.P.

Graphs: Used with permission of Bloomberg Finance L.P.

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