Long-Term Stock Portfolio: 5 Best Stocks for 20 Years

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

Number of Hedge Fund Holder: 220

Formerly known as Facebook, Meta Platforms, Inc. (NASDAQ:META) changed its name back in October 2021 to announce its focus on the metaverse. In addition to being a tech firm that owns and runs social media platforms, , the company has accelerated the launch preparations for a new Meta VR headset, posing potential competition to Apple’s latest VR offering. Meta Platforms, Inc. (NASDAQ:META) was a part of David Abrams portfolio since 2018.

On May 15, investment advisory Loop Capital upgraded Meta Platforms, Inc. (NASDAQ:META) to Buy from Hold and raised the stock’s price target to $320 from $220.

According to Insider Monkey’s first quarter database, 220 hedge funds were long Meta Platforms, Inc. (NASDAQ:META), compared to 194 funds in the prior quarter. Billionaire Philippe Laffont’s Coatue Management is one of the largest stakeholders of the company, with a position worth $1.70 billion.

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.”

Disclosure: None. You can also take a look at 10 Best Big Name Stocks to Buy Now and 11 Best FMCG Stocks To Buy Now.