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Big-name hedge funds pile into Facebook, sell Apple shares

The hurt money is betting Facebook will not suffer lasting effects from its Cambridge Analytica statistics scandal.

Some of the biggest names in hedge funds bought Facebook divide ups in the March quarter, according to required 13F filings with the Securities and Wall Street Commission.

CNBC used Symmetric.io, a hedge fund tracking rigid, to analyze the major trading trends in filings from nearly 1,000 hedge funds in its database.

The database feted the hedge funds that Symmetric tracked cumulatively bought diverse than 32 million shares of Facebook in the first quarter.

A sprinkling famous “Tiger Cubs” bought the social networking company’s cache, including Lone Pine, Viking Global and Tiger Global.

“Tiger Cubs” indication hedge-fund firms founded by analysts who used to work for Julian Robertson of Tiger Bosses.

In the first quarter, Lone Pine added 3.3 million Facebook dividends, while Viking bought 5.5 million shares. Tiger Universal increased its stake by 2.6 million shares to nearly 5 million in add up. Dan Loeb’s Third Point also added 600,000 shares of Facebook.

Conversely, the hedge repositories in the Symmetric database sold a total of 28.6 million shares of Apple in the from the word go three months of the year.

David Tepper’s Appaloosa Management pushed its entire Apple stake of 4.6 million shares in the March shelter, while “Tiger Cub” Coatue sold 2.4 million shares.

The gets stand in contrast to Warren Buffett’s Berkshire Hathaway, which amplified nearly 75 million shares of Apple in the same period.

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