5 Best Large-Cap Stocks to Buy According to Columbus Hill Capital Management

2. Meta Platforms, Inc. (NASDAQ:FB)

Columbus Hill Capital Management’s Stake Value: $53,965,000
Percent of Columbus Hill Capital Management’s 13F Portfolio: 6.45%
Number of Hedge Fund Holders: 266

Meta Platforms, Inc. (NASDAQ:FB), the American technology and social media platform, recently changed its corporate name to Meta Platforms, Inc., which will reflect the company’s perceived growth opportunities. Meta Platforms, Inc. (NASDAQ:FB) gained 23.3% in 2021.

At the end of Q2, 266 hedge funds tracked by Insider Monkey were bullish on Meta Platforms, Inc. (NASDAQ:FB), up from 238 in the previous quarter. The total value of these stakes is over $42.3 billion. In October, BofA lifted its price target on Meta Platforms, Inc. (NASDAQ:FB) to $400, with a Buy rating on the shares.

Columbus Hill owns 155,202 shares of Meta Platforms, Inc. (NASDAQ:FB) as of Q2, valued at roughly $54 million. The company accounts for 6.45% of the hedge fund’s 13F portfolio.

First Eagle Investment Management mentioned Meta Platforms, Inc. (NASDAQ:FB) in its second-quarter investor letter. Here is what the firm has to say:

“Leading contributors in the First Eagle Global Fund this quarter included Facebook, Inc. Class A. Facebook has continued to post impressive results for both revenue and active users of its traditional platforms. In the meantime, the social media giant continues to make progress on new initiatives—like Facebook Horizon (virtual reality) and Facebook Shops (e-commerce)—and maintains attractive monetization optionality around services like Messenger and WhatsApp.”