SaltLight Capital, an investment management company, released its “SaltLight SNN Worldwide Flexible Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The SaltLight Worldwide Flexible Fund generated a return of 30.8% in 2023. The final quarter of the year had a strong finish with a return of +15.4%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
SaltLight Capital featured stocks like Meta Platforms, Inc. (NASDAQ:META) in its Q4 2023 investor letter. Headquartered in Menlo Park, California, Meta Platforms, Inc. (NASDAQ:META) is a technology company that develops products to connect people. On February 27, 2024, Meta Platforms, Inc. (NASDAQ:META) stock closed at $487.05 per share. One-month return of Meta Platforms, Inc. (NASDAQ:META) was 24.84%, and its shares gained 180.85% of their value over the last 52 weeks. Meta Platforms, Inc. (NASDAQ:META) has a market capitalization of $1.242 trillion.
SaltLight Capital stated the following regarding Meta Platforms, Inc. (NASDAQ:META) in its fourth quarter 2023 investor letter:
“Meta Platforms, Inc.’s (NASDAQ:META) primary mission is all about capitalising on user engagement and maintaining its network effects. AI is augmenting their objectives in two ways: 1) Improving engagement time per daily active user (AI Job One) 2) Matching ad buyers (advertisers) with ad consumers (AI Job Two)
Improving Engagement Time per Daily Active User Meta is in the business of making sure that when you’re scrolling through your feed or watching videos, you’re glued to the screen as long as possible. Why? Because the longer you watch, the more ads they can slip into your viewing experience (think of digital billboards). But these ‘digital billboards’ are a finite resource – only more engagement time creates them.
And here’s where the magic of ‘AI job one’ comes in – finding that perfect video that keeps you hooked – thereby increasing the time you spend on the platform. It’s a cycle that feeds itself: more engagement means more opportunities to serve ads, which in turn means more revenue…” (Click here to read the full text)
Photo by Alexander Shatov on Unsplash
Meta Platforms, Inc. (NASDAQ:META) is in third position on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Meta Platforms, Inc. (NASDAQ:META) was held by 242 hedge fund portfolios, up from 234 in the previous quarter, according to our database.
We discussed Meta Platforms, Inc. (NASDAQ:META) in another article and shared the list of stocks Jim Cramer was right about. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
