Couch Potato Stock Portfolio: 5 Best Stocks To Buy

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

Number of Hedge Fund Holders: 220

Over the years Meta Platforms, Inc. (NASDAQ:META) has diversified its income streams significantly. In addition to owning Facebook, Instagram, WhatsApp, the company plans to invest heavily in the AI industry and launch new products. Recently, Meta Platforms, Inc. (NASDAQ:META) revealed the third version of its Quest headset, the Meta Quest 3.

The AR/VR headset will start from $500.

Its diverse investments and huge user base make Meta Platforms, Inc. (NASDAQ:META) a decent pick for any couch potato stock investor. It’s also a notable holding of many famous index funds including Vanguard U.S. Total Market Index ETF (VUN), the Vanguard Index 500 Fund (VFIAX) and Vanguard Total Stock Market ETF (VTI).

As of the end of the March 2023 quarter, 220 hedge funds tracked by Insider Monkey had stakes in Meta Platforms, Inc. (NASDAQ:META). The biggest stakeholder of Meta Platforms, Inc. (NASDAQ:META) during this period was Philippe Laffont’s Coatue Management which owns a $1.71 billion stake in the company.

Harding Loevner Global Equity Strategy made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its Q1 2023 investor letter:

“The losses from SVB and First Republic were significantly mitigated, though not fully offset, by a rebound in shares of growth companies, which contributed to outperformance among our Communication Services and IT holdings. Our biggest relative contributor was Meta Platforms, Inc. (NASDAQ:META), the parent of Facebook, which pledged to boost efficiency through layoffs and a hiring freeze.”