Billionaire Lee Ainslie’s Top 5 Stock Picks

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

Maverick Capital’s Equity Stake: $176.2 million
Year-to-date gain: 179%

Meta Platforms, Inc. (NASDAQ:META) has been one of the best-performing stocks in Ainslie’s portfolio, a trend likely to continue into 2024 as the overall market remains bullish.

Maverick Capital increased its stakes in Meta Platforms, Inc. (NASDAQ:META) in Q3 2023 to 586,892 shares valued at $176.2 million, accounting for 3.97% of the portfolio.

In its Q3 2023 investor letter, Davis Funds said the following about Meta Platforms, Inc. (NASDAQ:META):

“In big technology, the huge price volatility of leaders like Meta Platforms can come with opportunity—trimming when prices are high and adding when they are low. For example, we added significantly to Meta last year at less than half of today’s price and have recently trimmed our position in Alphabet as its shares swung back into favor. For many years, we have referred to the leading online platforms such as Alphabet as the blue chips of tomorrow. Their economies of scale, network effects, strong competitive positions and profitable business models combine to make them some of the best businesses we have ever seen. Because of this success, these juggernauts have attracted waves of regulatory scrutiny and relentless negative press coverage. As a result of the ebb and flow of these controversies, investor sentiment can swing precipitously from euphoria to disgust, which can provide opportunities for price-conscious investors. While we are not short-term traders, the enormous price volatility of these online tech leaders has led us to be opportunistic, trimming when prices are high and adding when they are low. Recently, as these companies have swung back into favor, we have trimmed our holdings in Meta Platforms.”

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