Google parent company Alphabet (GOOGL) - Get Alphabet Inc. Class A Report has regained the title of hedge-fund favorite in the second quarter, breaking a tie with Facebook (FB) - Get Facebook, Inc. Class A Report , Citi Research analyst Tobias Levkovich said in a note.

In a rating of hedge funds' top 10 holdings, 16 held Alphabet and 15 held Facebook in their top 10 during the three months ended June 30. The two had been tied in the first quarter of 2017, when 13 firms held both Alphabet and Facebook in their top 10 holdings.

Most recently, Facebook has lost some share of hedge fund prestige to Time Warner Inc.  (TWX) and NXP Semiconductors (NXPI) - Get NXP Semiconductors NV Report . But tech companies continue to reign supreme. "Six of the top seven names owned by hedge funds are in the Information Technology sector," Levkovich wrote.

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Microsoft Corp.  (MSFT) - Get Microsoft Corporation (MSFT) Report is the overwhelming favorite for mutual funds, where it's held the top spot for the last five quarters. Microsoft doesn't get much love from hedge funds with only eight firms placing it in their top 10. That's better than Apple Inc (AAPL) - Get Apple Inc. (AAPL) Report , though, which is only a top-10 holding at five hedge funds.

Alphabet, Facebook, NXP and Apple are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells GOOGL, FB, NXPI and AAPL? Learn more now.

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Editors' pick: Originally published Aug. 18.